(Maybe) ( Not) All 100 ounce bars are going to be gone in a matter of days

[Serpo]

Today King World News interviewed one of the top gold and silver dealers in the United States about tightness in the silver market. Bill Haynes is President and owner of CMI Gold & Silver for and when asked about a shortage in silver he stated, “All of the major suppliers of 100 ounce silver bars are either weeks or months out, some will not even take orders. I had some conversations with a number of people who buy from them, had to dig through the information and some of them revealed that they thought the refineries were having trouble and the manufacturers were having trouble getting the physical product which falls right into the silver shortage.”
“It’s starting to show up in the 100 ounce silver bar market which is a primary investment vehicle for individuals who want to buy silver for investment purposes. It does surprise me because we did not see the buying that we saw in 2008, 2009 when our safes were absolutely emptied of 100 ounce silver bars, and that’s the type of buying I thought we would have to see in order for there to be a shortage of 100 ounce silver bars.


I was able to get 100 ounce silver bars (recently) and then all of the sudden these guys I call them and say ok, we are talking 100 ounce silver bars, they’ll say well, it’s a month out on any order you place today. And then I have people telling me they will not take any orders on 100 ounce silver bars until May.


There’s a couple of things that are going to happen that is going to shut a lot of people out of this market. All of the 100 ounce bars are going to be gone in a matter of days, not weeks, days. Then people are going to have to put up their money and they are going to have to wait weeks or months before they get their bars. They are also going to have to pay higher premiums for that product because the marketplace will put a higher premium on the bars on a price drop that depletes all of the vaults around the country.”


You can hear the full audio interview with Bill Haynes on the KWN Weekly Metals Wrap this weekend along with Dan Norcini of jsminest.com. We are seeing the same type of shortages develop that we saw in 2008, but this time at a much higher price level.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/27_All_100_Ounce_Silver_Bars_Will_be_Gone_in_a_Mat ter_of_Days.html

[mick silver]

there was no shortage when i brought some 100ozers from this place but they had good prices and it was a few months before i got what i order... http://nwtmint.com/

[Serpo]

With gold and silver rallying off the lows today, King World News interviewed Eric Sprott, Chairman of Sprott Asset Management which has $8 billion under management. When asked about the Sprott physical silver trust acquiring silver Eric stated, “We had to go into the market and buy about 15 million net ounces from third parties and it took us about ten weeks. It was a very, very long process and the one thing we can read out of it is obviously there weren’t 15 million ounces sitting around somewhere.”


“I haven’t had time to study where the bars came from, but I can tell you by looking at the pictures of the bars they look like they came right out of the refineries. So I suspect it’s a hand to mouth situation in silver.


I think if we went in to by twenty million ounces of silver it would take a long time. I know we had an order to buy a million ounces about five weeks ago for a different account and the delivery was going to be two months. So I think silver is as tight as a drum.


When asked about price targets for both gold and silver Eric responded, “Our best technical advisor, he thinks (gold) it’s going to $2,150, and he thinks it is going to $2,150 this spring.


I think silver is a little easier to predict because I think it’s going to change relative to gold which is a more predictable event and more timely. I’ve always thought that silver should touch $50, and I’m not going to be surprised if it touches it by the middle of this year as people realize there is an absolute shortage.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/28_Eric_Sprott_-_Expect_$50_Silver,_Gold_Possibly_$2,150_by_Spring .html

[Serpo]

there was no shortage when i brought some 100ozers from this place but they had good prices and it was a few months before i got what i order... http://nwtmint.com/


I am sure they can still be gotten in places but for how long....

[Antonio]

Good cause soon they will not be very liquid due to the need to drill the damn things.
Silver is best when it`s small, 10oz bars are the upper limit, I got only one 50oz.

[osoab]

Apmex is showing about 830 available. 56 of them are for future arrival.

I do like the CMI guys interviews.

[ximmy]

this guys also speaking out on shortages
Posted 27 January, 2011. Jeff Lewis

There is a danger lurking in the shadows of the COMEX silver market. Prices are (generally) rising, but the supply of silver is falling, and it’s falling quickly. Why, you ask? Unfortunately, there has been confusion in the paper and physical metals market…as if silver investors hadn’t already noticed.

Silent Market in Control

With the rise in silver prices came new speculative interest from bankers, average investors, and even the next-door neighbor. The problem is very simple: the supply of silver for the investing class is imaginary—a product of the banking system and fractional reserve silver.

In order to supply investment demand, investment banks (JP Morgan and others) have been selling off paper silver in droves, hedging their bets on the futures market, and hoping that no one ever bothers to take delivery. It has become evident, especially in this most recent move toward $30, that the price of silver and the supply of silver are no longer related.

What we have now is a market where the real, physical silver is flying out of the COMEX (since few seeking to buy real silver are interested in certificates or exchange-traded funds), and the tangible stocks are replaced with paper silver.

What happens when the market realizes that the well is tapped, there is no remaining silver, and that the positions most hold are diluted to a point that they hold only a small percentage of what they believe they hold?....

Silver prices are not technically rising, but they’re becoming realistic. The current pricing structure is dependent on a supply of silver that does not exist. When this realization comes to life, silver prices will rise, but in truth, prices have already exploded.

Those trading the COMEX are paying $25-30 for the CHANCE at taking delivery of an ounce. If we put the current, real supply of silver at 10% the open interest, then prices are already $250 per ounce....

More:
http://news.silverseek.com/SilverSeek/1296169564.php

[Awoke]

Kitco has 100 oz bars.

So does Apmex (http://www.apmex.com/Product/50645/IRA_Acceptable___100_oz_999_Fine_Silver_Bars_APMEX .aspx)

[JohnQPublic]

Apmex is showing about 830 available. 56 of them are for future arrival.

I do like the CMI guys interviews.


APMEX still has 832. They had 874 on the 24th. (http://gold-silver.us/forum/gold-silver-precious-metals/apmex-precious-metals-retail-supply-index/msg172894/#msg172894) As you siad, 56 of them are due on Feb. 18th.

They are awash in 10 ozt. bars.

[StreetsOfGold]

Apmex is showing about 830 available. 56 of them are for future arrival.

I do like the CMI guys interviews.


APMEX still has 832. They had 874 on the 24th. (http://gold-silver.us/forum/gold-silver-precious-metals/apmex-precious-metals-retail-supply-index/msg172894/#msg172894) As you siad, 56 of them are due on Feb. 18th.

They are awash in 10 ozt. bars.



perhaps they should melt down those 10oz bars and make 100 oz bars? oh wait, that would be stupid :-\

[Serpo]

Changed title due to popular demand..... :D

[osoab]

Changed title due to popular demand..... :D


:ROFL:

But CMI buys from refiners. I don't think any of us do that. So it is a different perspective.

Could be that they are talking their book. They may be awash in 100oz bars and need to move inventory.

[hoarder]

“It’s starting to show up in the 100 ounce silver bar market which is a primary investment vehicle for individuals who want to buy silver for investment purposes. WTF? Since when are 100 ounce bars the primary investment vehicle of silver investors?

When $1000 face bags of pre 1965 90% junk silver coins can't be had, I'll be expecting a rocket.

[osoab]

“It’s starting to show up in the 100 ounce silver bar market which is a primary investment vehicle for individuals who want to buy silver for investment purposes. WTF? Since when are 100 ounce bars the primary investment vehicle of silver investors?

When $1000 face bags of pre 1965 90% junk silver coins can't be had, I'll be expecting a rocket.


Are 100oz the standard for IRA accounts?

[Serpo]

[quote

Are 100oz the standard for IRA accounts?


Probably but also 1000 oz

[BrewTech]

I had to buy brewery equipment, so there is at least one out there for sale... ;)

[Serpo]

I had to buy brewery equipment, so there is at least one out there for sale... ;)


Of course, got to get priorities right... ;D

[Twisted Titan]

We had to go into the market and buy about 15 million net ounces from third parties and it took us about ten weeks. It was a very, very long process and the one thing we can read out of it is obviously there weren’t 15 million ounces sitting around somewhere.”


“I haven’t had time to study where the bars came from, but I can tell you by looking at the pictures of the bars they look like they came right out of the refineries. So I suspect it’s a hand to mouth situation in silver.



When this become understood at the Higher levels

That the level of money you have dosent have ANYTHING to do with how faster you get the product .

It will create a Panic not seen in the history of the Commercial and Industrial Markets.


We are talking Gubbermint declaring silver a strategic metal to national security and granting emergency powers to seize hordes of any sizeable quantity.

Mark my words. ALL OF US WILL LIVE TO SEE THE DAY THIS COMES TO PASS.

T

[ShortJohnSilver]

Best defense against scaremongering is to check out Tulving.com and see what he is offering.

[Twisted Titan]

You dam near got to have 5 figures just get a call back from Tulving 6 figs or better to get a seat at the table



And if he is doing "over a million dollars a day" why the hell wont he update that godforsaken site.


T

[Antonio]

Silver is a heavy,overweighed, untamed bitch.
Keep some small silver, no bigger than 10oz bars, 1oz recognised bars/coins are the best,some 90% junk is a must.
Keep lots of small gold in every possible form,from 1gram Swiss bars to 1/10 eagles/krugs,20Franc and sovs,mexican pesos etc up to 1oz coins/bars.
Keep some 22k-24k chains (some 14k-18k to trade to morons who`ve never seen anything higher) and some quality heavy sterling like teapots.

Breath easy, I`m finished here on this thread ;)

[skid]

It will create a Panic not seen in the history of the Commercial and Industrial Markets.


We are talking Gubbermint declaring silver a strategic metal to national security and granting emergency powers to seize hordes of any sizeable quantity.

Mark my words. ALL OF US WILL LIVE TO SEE THE DAY THIS COMES TO PASS.

T[/i]


I believe you will be right about this TT. At least in the states. The rest of us should do well though 8)

[Serpo]

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/1/29_Eric_Sprott.html

[ShortJohnSilver]

You dam near got to have 5 figures just get a call back from Tulving 6 figs or better to get a seat at the table



And if he is doing "over a million dollars a day" why the hell wont he update that godforsaken site.


T


1. 500 silver ounces @ $27 silver = $13,500 ; in some cases you can buy 10 ounces of gold, which is also about $13,500 .

2. He is German and probably has a lot of repeat customers.

[Twisted Titan]

EXECUTIVE ORDER 10997 allows the government to take over all electrical power, gas, petroleum, fuels and minerals

[osoab]

Silver Hype vs Reality (http://www.financialsense.com/financial-sense-newshour/big-picture/2011/01/29/01/kathryn-derbes-steven-hochberg-ron-griess/silver-hype-vs-reality-markets)


This week on the Financial Sense Newshour, Jim Puplava welcomes back Kathy Derbes, CEO of KDerbes Precious Metals LLC. Jim and Kathy discuss silver: the hype vs. reality. Jim and Kathy discuss the silver market, particularly the rumors of shortages in 100 oz. silver bars.

1st interview might start about 1 minute in. She talks that the only 100oz bars that are hard to get are Englehards. They are not making them currently. If someone needed an order for 100-100oz bars it would be about 2-3 weeks for delivery.

[Awoke]

“It’s starting to show up in the 100 ounce silver bar market which is a primary investment vehicle for individuals who want to buy silver for investment purposes. WTF? Since when are 100 ounce bars the primary investment vehicle of silver investors?

When $1000 face bags of pre 1965 90% junk silver coins can't be had, I'll be expecting a rocket.

I know a few PM buyers in my life, and none of them buy junk silver in quantities.

They (and myself) all hold .999 bullion in rounds and bars.

Just sayin...

[Low_five]

the hunt brothers made berms out of sacks of face value coins and played war, so there is at least 2 guys who did hoard tons and tons of junk silver.

[osoab]

Scotia Mocatta Sells Out Of All Silver Bars (http://www.zerohedge.com/article/scotia-mocatta-sells-out-all-silver-bars)


When a week ago we noted that ScotiaMocatta sold out of the Valcambi 1 kg block, yet once again showed the 100 oz silver bar as back in stock, we said: "We will keep tabs on how long before this also becomes "sold out."" We have the answer and it is 7 days. As of today, Canada 's biggest bullion bank is out of not only the 100 oz silver bar, but all silver bars! This follows yesterday's news that in January the US mint sold 50% more silver than in any month before.

[osoab]

Scotia Mocatta Sells Out Of All Silver Bars (http://www.zerohedge.com/article/scotia-mocatta-sells-out-all-silver-bars)


When a week ago we noted that ScotiaMocatta sold out of the Valcambi 1 kg block, yet once again showed the 100 oz silver bar as back in stock, we said: "We will keep tabs on how long before this also becomes "sold out."" We have the answer and it is 7 days. As of today, Canada 's biggest bullion bank is out of not only the 100 oz silver bar, but all silver bars! This follows yesterday's news that in January the US mint sold 50% more silver than in any month before.




Found this post at ZeroHedge. http://www.zerohedge.com/article/scotia-mocatta-sells-out-all-silver-bars#comment-927526


I talked with a person I know in Scotia Macotta because I've been buying silver there and they told me that the reason they are sold out is because they will only order from the mint on a per order basis and do not want to carry inventory. The reason for not wanting to carry inventory is they feel that a steep price correction would leave them on the hook for past accumulations.

I know silver demand is high, but these risk averse Cdn banks are also thinking price may fall. I dont' think it will.... just goes to show how chicken shit they are.

[JohnQPublic]

APMEX still has 546. They are selling roughly 50 per day, so have an 11 day supply unless they replenish.

[mick silver]

it look like people are still buying silver . dam maybe it time for me to sell some 100ozers . apmex are saling them for 3000.00 t ,

[JohnQPublic]

APMEX NOW SHOWS ZERO 100 OZT. BARS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

546 SOLD TODAY!

[osoab]

APMEX NOW SHOWS ZERO 100 OZT. BARS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

546 SOLD TODAY!


Damn

[mick silver]

this is starting to look better . the price should make a big jump

[ximmy]

It's ok... Monarch has a bunch... :D

http://www.providentmetals.com/bullion/silver/private-slv/100-ozt-bar.html

[chad]

i've got a big ass pile of a-mark ones i'll let go for 5k each ;)

[JohnQPublic]

It's ok... Monarch has a bunch... :D

http://www.providentmetals.com/bullion/silver/private-slv/100-ozt-bar.html


32 JMs, 19 Englehards, a few hundred stackers. They say more is coming in.