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SN3165 (< 20)

Silver Sell Out at APMEX?

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April 23, 2013 – Comments (25) | RELATED TICKERS: SLW , SAND

With gold/silver at these depressed levels, it seems like people are taking advantage of the drop to accumulate physical PM. 

I would have posted a screenshot here, but if you go to APMex.com and click best sellers, you will see that most physical silver is not available.  

http://www.apmex.com/APMEXTop40/Default.aspx 

The gold:silver ratio is now around 62, which signals that silver is undervalued compared to gold IMO. The ratio went as low as 32:1 in 2011 and the historical ratio is 16:1.  

I personally will be buying a little each month and will keep accumulating shares of SLW and SAND. I am strongly considering initiating a position in Wildcat Silver, a more speculative silver play, one I feel has at least 300 percent upside if silver makes a move higher. They are cashed up and will survive this downturn. 

Best of luck everyone.

 

 

 

25 Comments – Post Your Own

#1) On April 24, 2013 at 12:34 AM, awallejr (77.67) wrote:

Seriously check out JM Bullion.  Buy the cheapest coin.  Be mindful of sales tax and shipping.  I live in NYC so Apmex screws me with tax.  Look at silver morgan dollars or peace dollars.  you get a 2fer with them.  Melt value and numismatic value.  I am a collecter.  I love holding an old coin in my hand and imagining who held it and spent it on what.

I am more a fan of owning the real thing than owning paper.  SLW over SAND mainly because SLW did enter the gold market and is way ahead of SAND now.

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#2) On April 24, 2013 at 10:04 AM, whereaminow (< 20) wrote:

http://www.economicpolicyjournal.com/2013/04/american-eagle-gold-bullion-coin-sales.html

So far in April, the U.S. Mint has sold 175,000 ounces of American Eagle gold coins, putting it on track to challenge a high of 231,500 ounces set in December 2009.

"It's panic. This is one of the busiest times in quite a while. People think gold's at the lows and they want to take advantage," he said in an interview with HuffPo.

It's going to be a fun summer.

David in Liberty

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#3) On April 24, 2013 at 10:37 AM, ETFsRule (99.92) wrote:

http://www.economicpolicyjournal.com/2013/04/american-eagle-gold-bullion-coin-sales.html

This link is funny for a few reasons.

1. The word "said" in the first paragraph is hyperlinked, but it just goes to www.blogger.com.

2. They don't provide a quote from the mint, or a source for their claim that certain gold coins were suspended.

3. The US mint's website still shows those 1/10 oz gold coins as in stock & available for purchase. I started to place an order, and it looks like you can still buy them without any problem. Link.

4. In the 3rd paragraph, they use the pronoun "he" without first giving the name of the person being quoted. You can find out who it is by following their links, but this is still very sloppy and unprofessional writing.

5. They fail to even mention the simplest and most likely reason for the drop in the price of gold: it was overpriced.

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#4) On April 24, 2013 at 10:57 AM, whereaminow (< 20) wrote:

Scroll down in the article for more:

http://gulfnews.com/business/retail/dubai-gold-buying-spree-leads-to-bullion-shortage-1.117363

David in Liberty

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#5) On April 24, 2013 at 10:58 AM, whereaminow (< 20) wrote:

Sry, link got screwy

http://gulfnews.com/business/retail/dubai-gold-buying-spree-leads-to-bullion-shortage-1.1173632

David in Liberty

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#6) On April 24, 2013 at 11:03 AM, whereaminow (< 20) wrote:

FYI, there's a thing in the title of the article called a semicolon. That is two separate statements joined together.  That is the title pulled directly from the HuffPo column. 

Reading comprehension is a skill

http://www.huffingtonpost.com/2013/04/24/american-eagle-gold-bulli_n_3146105.html?ncid=edlinkusaolp00000003

David in Liberty

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#7) On April 24, 2013 at 11:42 AM, ETFsRule (99.92) wrote:

"FYI, there's a thing in the title of the article called a semicolon. That is two separate statements joined together."

lol, so what?

The US inventory of WHAT is depleted? If they are out of 1/10 oz gold coins, then why are those exact coins still in stock and available for purchase from the US mint?

"Reading comprehension is a skill"

Yeah, you should work on it. And maybe you shouldn't cite websites that copy and paste their articles, and then blindly delete paragraphs from them until it reads like something a first grader has written.

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#8) On April 24, 2013 at 11:49 AM, whereaminow (< 20) wrote:

The US inventory of WHAT is depleted? If they are out of 1/10 oz gold coins, then why are those exact coins still in stock and available for purchase from the US mint?

I don't have a ton of time to educate you on HuffPo title guidelines, but I believe they are saying 1/10 gold coin sales are being suspended by dealers, not the mint.

As far as your problems with EPJ, take it up with Wenzel. I'm sure he'll find time for you.

Why this has you so up in arms, well, that's another story.

David in Liberty

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#9) On April 24, 2013 at 11:57 AM, ETFsRule (99.92) wrote:

Up in arms? I said it was funny.

"I believe they are saying 1/10 gold coin sales are being suspended by dealers, not the mint."

No, David. You should read the article, not just the title.

---->

"Reading comprehension is a skill"

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#10) On April 24, 2013 at 12:03 PM, whereaminow (< 20) wrote:

Very good. I'm busy so I don't have time to nitpick HuffPo articles.  But great work.  

Did you try to place an order?

David in Liberty

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#11) On April 24, 2013 at 12:08 PM, whereaminow (< 20) wrote:

It's "some gold coins". The story is also on cnbc, reuters, etc.

https://www.google.com/#safe=off&output=search&sclient=psy-ab&q=gold+coin+mint+suspends&oq=gold+coin+mint+susp&gs_l=hp.3.0.33i29i30.2017.7980.0.9134.31.24.6.1.1.0.223.3163.3j19j2.24.0...0.0...1c.1.11.psy-ab.4eooHBsfiJ8&pbx=1&bav=on.2,or.r_cp.r_qf.&bvm=bv.45580626,d.cGE&fp=79b9479823407a76&biw=1360&bih=640

Google is so cool.

David in Liberty

 

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#12) On April 24, 2013 at 12:10 PM, ETFsRule (99.92) wrote:

"Did you try to place an order?"

I added the coins to my cart and went through about half the steps. Seemed to be working fine. I have no interest in buying them. They are clearly listed as "in stock".

I'll let you get back to the important things that you are very busy with.

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#13) On April 24, 2013 at 12:14 PM, whereaminow (< 20) wrote:

I think you should call the mint and ask them if the story is correct.  Since it says "some" coins, you should investigate and find out exactly which one.

Get to the bottom of this buddy.  Let us know,

David in Liberty

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#14) On April 24, 2013 at 12:17 PM, ETFsRule (99.92) wrote:

I thought you were too busy to continue this discussion!

If you aren't that busy, why don't you want to further discuss whether the HuffPo article was referring to dealers or the US mint being depleted?

"It's "some gold coins""

Your article clearly said it was 1/10 oz gold coins. It did not say that any other coins were out of stock.

"The story is also on cnbc, reuters, etc."

The Reuters article at the top of your search results also says it is 1/10 oz gold coins. Not any other coins. Their article is the same as the HuffPo article.

It's fairly obvious that the same article is being published on all these sites.

You haven't addressed any of the things I pointed out, ie: an actual quote or source from someone at the US mint to confirm this story. Is that so much to ask for?

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#15) On April 24, 2013 at 12:20 PM, whereaminow (< 20) wrote:

You amuse me. So is your problem with me or with the entire journalism profession?

David in Liberty

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#16) On April 24, 2013 at 12:21 PM, whereaminow (< 20) wrote:

And look at this time you're wasting when you could be on the phone with the mint to find out which coins it exactly is!

David in Liberty

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#17) On April 24, 2013 at 12:27 PM, ETFsRule (99.92) wrote:

"I think you should call the mint and ask them if the story is correct.  Since it says "some" coins, you should investigate and find out exactly which one.

Get to the bottom of this buddy.  Let us know,

David in Liberty "

lol... you're the one who broke this story David. Clear it up for me.

And, great job deflecting attention away from the very specific points where you were clearly wrong.

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#18) On April 24, 2013 at 12:30 PM, whereaminow (< 20) wrote:

I broke the story?  That's amazing.  I didn't realize they all got their copy from me.

I don't mind being wrong. Especially if it makes you feel good. 

David in Liberty

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#19) On April 24, 2013 at 12:31 PM, L0RDZ (78.57) wrote:

Wow is  this what  the blog is aboot ?  two guys  jackin aboot  looking like  fools  over  mute points.

maybe you two should make  your own blog  and  argue back and forth rather than  hi-jack someone elses.

I've heard that they ran  out of  coins,  which ones ? don't know,  don't really care as I find the  price  for  most of  the coins excessive not  to mentioned all  the  new  requirements  forced  to  record who bought  what  and  where and  at  what  price  so that   the  IRS  can seek  their  28%  cut   if  you are so lucky  as  to  make money.

Meanwhile  if  you do make money, when you factor out  that  the price went up because  of  them  forcing inflation by  devaluing  money,  you really  feel  like  someone  stuck something  someplace where it  shouldn't  go.

 

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#20) On April 24, 2013 at 12:39 PM, whereaminow (< 20) wrote:

Is a "mute point" one you don't want to hear about?

=D

David in Liberty

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#21) On April 24, 2013 at 12:45 PM, ETFsRule (99.92) wrote:

"I don't mind being wrong. Especially if it makes you feel good. "

You could've saved some time by just saying you were wrong in the first place.

"looking like  fools  over  mute points."

What's that, a point that can't talk?

Thank God for Lordz and his brilliant analysis.

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#22) On April 24, 2013 at 8:35 PM, Frankydontfailme (27.77) wrote:

"The US inventory of WHAT is depleted? If they are out of 1/10 oz gold coins, then why are those exact coins still in stock and available for purchase from the US mint?"

The link you provide is to the 1/0th ounce proof coin. This is not the standard 1/10th ounce coin, and costs $ 500 dollars more per ounce. These are not the "exact" coins.

  

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#23) On April 26, 2013 at 1:38 AM, whereaminow (< 20) wrote:

Franky,

But we don't expect him to admit he was wrong.

David in Liberty

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#24) On April 26, 2013 at 11:20 AM, ETFsRule (99.92) wrote:

I was wrong about that part. You were still wrong about what you said.

So it's a standoff - the mint doesn't say whether or not these top-secret coins are available or not, and the info isn't on their website.

It's interesting that the writers would decide not to provide a disclosure on a piece like that, given the way that it was written. That alone makes me skeptical, especially with the lack of support for any of their claims.

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#25) On April 26, 2013 at 6:14 PM, whereaminow (< 20) wrote:

Well I've always said that journalists just take copy and repeat it without thinking, so I'm not surprised.  The truth is we don't have enough information to know what the market is thinking, which makes it so much fun.  The gold/silver market is hands down the most fun market to debate. 

David in Liberty 

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