No Gold, No Silver

Man, this is getting bad. I was thinking about yanking all* our money out of our bank Monday morning and buying some more gold.

Guess what?

I checked APMEX for 1oz gold Philharmonics. Sold out.
1oz gold Buffalos: US Mint not makin’ ’em any more.
1oz gold Eagles. Nope, sold out. Canadian gold? Uh uh.

OK, how about the most widely recognized coin in the world, the gold British Sovereign (about 1/4 oz). Nope, sold out. Pre-1948 gold Swiss Francs (0.19 oz)? Nope, sold out as are the similar gold French Francs.

Even Krugerrands are gone. No one is selling. Same story with all popular forms of silver, and the same shortages at Colorado Gold.

At some point the dealers will just have to ignore the paper price of gold/silver set by COMEX and sell gold/silver at market prices.

*OK, not all. I plan to leave enough money in to cover whatever checks we need to write during the next two months. If the banks are still solvent and open then, I’ll probably put it back.

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One Response

  1. It is now july 2009 the situation is now worse and the big hedge funds are now switching their money from ETFs because they are only paper silver to physical silver and gold guess they must be reading this website lol

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