BullionVault.com ran out of silver.
I was trying to buy silver today at 25.40 per ounce and noticed that the spread that bullionvault was charging was unusually high. Typically, they sell silver to us at about $0.40 above ask which is bearable. Today, for the first time, my orders wouldn't fill when they were place in usual fashion (0.4 above ask). I then noticed that they were charging $1.32 above ask for an ounce. Most of my funds were sitting in the account and it looked like we had hit bottom (time will tell) so I bit the bullet and paid their high price. I was pretty ticked off so I sent a steaming email to them saying that I felt they were taking advantage of us since they knew that today was probably the bottom and they jacked the cost of buying way up since they knew we would either pay or not buy and since there was no choice, we would buy. I received a reply explaining that they have run out of silver which is why they are charging the extra fee. My order was filled and he promised that my silver would be delivered as promised; it's just that they have run out and it is requiring extra work to locate the needed supply. Good news, I guess. Running out of silver. Wonder how many others are in that boat?
AI
