Replies to post #23900 on Fiends In Stocks

[DeepBlue1]

I just checked the Hong Kong silver market and silver has only dropped a few cents and looks like it's holding and possibly recovering.

Have you seen this? Hang tough. I think something big could be about to happen.


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Gold and silver dealer reports an ‘unprecedented’ shortage of metals
Sunday, September 28, 2008 By David Clerkin, Markets Correspondent
A surge for demand in gold and silver has resulted in an unprecedented shortage of the metals for retail investors in recent days, according to Gold and Silver Investments, a Dublin-based firm that allows retail investors to speculate on movements in the value of precious metals.

Gold and Silver Investments director Mark O’Byrne said the supply of gold and silver available for small retail investors suffered a dramatic deterioration within hours on Friday, as wholesalers reported that government mints and refiners, the primary suppliers of the metals, had stopped offering new supplies.

‘‘It’s absolutely unprecedented,” said O’Byrne, who said the shortages were likely to drive up the costs of gold and silver in the secondary market.

‘‘This did not happen even in the 1930s and the 1970s, and will result in markedly higher prices in the coming months.”

According to O’Byrne, gold and silver were now only easily accessible in the primary market, which consisted of central banks and other major traders of the precious metals.

However, he said that minimum transaction sizes in this market were out of reach for most retail investors - at approximately $350,000 for gold and $135,000 for silver.
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[DeepBlue1]

I managed to snag another 7oz of rounds and 10 1964 Kennedy Proof Sets (that include a silver quarter and dime too along with a nickel and a penny) tonight for good prices, but it's getting harder every day to ferret out the deals over on Ebay.

I got the 10 sets for a few pennies over $10 a piece and I can sell just the Kennedys alone for $12 to $20+. The quarters and dimes are gravy and sell for around 12X face value. I usually throw in the proof nickels and pennies as a teaser/bonus although even they go for a few bucks if you want to go to the trouble.



five 1964 proof sets 90% silver 1st YEAR KENNEDY (#2) (230294448271)
1 $51.99 -- Sep-28 Leave Feedback

five 1964 proof sets 90% silver 1st YEAR KENNEDY (#3) (230294448770)
1 $51.99 -- Sep-28 Leave Feedback