GSUS-APMEX Precious Metals Retail Supply Index

[Answer2me]

JPQ,

I know you follow harvey and the like and seemed to be well versed on inventories. you might find this interesting. There are coin shops and shops that specialize in bullion only. I only know of 3 bullion shops on the west coast. I think these guys have a better understanding of what is going on than apmex. One that i frequent has a different view of the silver supply. I asked him about inventory and he said he was running low on one ounce coins (maples, eagles, ect.) also running low on anything under a 100 oz. He can get 100 oz bars and kilo bars all day long its just that JOSP cant afford to buy them. Obiviously the demand has risen, but its a demand for a certain type of silver. I bet we will see premieums on good clean sellable small denomenational coins go up-way up! we have already seen this with GSE's and the mint. If i wanted to change 100,000 into silver it wouldnt be a problem, i would buy bullion. Its the small invester that will pay the high premieums. BTW the premium per hundred oz bar is between .30-.40 cents per ounce. much better than paying $5 over spot per american eagle. It would be better for the small investor to wait until he had the cash to buy a 100oz bar, if the price of silver rises, depending how much, he would still save money. The other day i noticed a kid buying 4 maples on his lunch brake. I bet that was a lot for him and he seemed proud to have them in his hands. Interestingly he had a name badge on, he worked for a local bank.

[JohnQPublic]

JPQ,

I know you follow harvey and the like and seemed to be well versed on inventories. you might find this interesting. There are coin shops and shops that specialize in bullion only. I only know of 3 bullion shops on the west coast. I think these guys have a better understanding of what is going on than apmex. One that i frequent has a different view of the silver supply. I asked him about inventory and he said he was running low on one ounce coins (maples, eagles, ect.) also running low on anything under a 100 oz. He can get 100 oz bars and kilo bars all day long its just that JOSP cant afford to buy them. Obiviously the demand has risen, but its a demand for a certain type of silver. I bet we will see premieums on good clean sellable small denomenational coins go up-way up! we have already seen this with GSE's and the mint. If i wanted to change 100,000 into silver it wouldnt be a problem, i would buy bullion. Its the small invester that will pay the high premieums. BTW the premium per hundred oz bar is between .30-.40 cents per ounce. much better than paying $5 over spot per american eagle. It would be better for the small investor to wait until he had the cash to buy a 100oz bar, if the price of silver rises, depending how much, he would still save money. The other day i noticed a kid buying 4 maples on his lunch brake. I bet that was a lot for him and he seemed proud to have them in his hands. Interestingly he had a name badge on, he worked for a local bank.

Problem is that the small investor is getting ready for SHTF, and what do you do with a 100 ozt. bar? 90%, 1 ozt. generics, SAEs, frac. gold is much more useful, and easier to buy a little at a time.

There si still cheap generic out there, so that is a reasonable option.

Where are the bullion stores in CA?

[Answer2me]

JPQ,

I know you follow harvey and the like and seemed to be well versed on inventories. you might find this interesting. There are coin shops and shops that specialize in bullion only. I only know of 3 bullion shops on the west coast. I think these guys have a better understanding of what is going on than apmex. One that i frequent has a different view of the silver supply. I asked him about inventory and he said he was running low on one ounce coins (maples, eagles, ect.) also running low on anything under a 100 oz. He can get 100 oz bars and kilo bars all day long its just that JOSP cant afford to buy them. Obiviously the demand has risen, but its a demand for a certain type of silver. I bet we will see premieums on good clean sellable small denomenational coins go up-way up! we have already seen this with GSE's and the mint. If i wanted to change 100,000 into silver it wouldnt be a problem, i would buy bullion. Its the small invester that will pay the high premieums. BTW the premium per hundred oz bar is between .30-.40 cents per ounce. much better than paying $5 over spot per american eagle. It would be better for the small investor to wait until he had the cash to buy a 100oz bar, if the price of silver rises, depending how much, he would still save money. The other day i noticed a kid buying 4 maples on his lunch brake. I bet that was a lot for him and he seemed proud to have them in his hands. Interestingly he had a name badge on, he worked for a local bank.

Problem is that the small investor is getting ready for SHTF, and what do you do with a 100 ozt. bar? 90%, 1 ozt. generics, SAEs, frac. gold is much more useful, and easier to buy a little at a time.

There si still cheap generic out there, so that is a reasonable option.

Where are the bullion stores in CA?

By west coast i ment WA, OR, and CA. In cali you know them, Tulving and CNI. Whom you probably havnt heard of is a small place that doesnt advertise but has been around longer than both those stores. The owner told me that he used to supply CNI back in the day for whatever thats worth. Anyways, a place called American Coin and Vault up north in Washington. Walk in and you wont find much laying in the glass but ask and yee shall recieve. Best price on gold krugs 1 oz 30 over spot.

I agree, there is cheep generic to be had. seems that most prefer junk and the name brand stuff when buying in small amounts. I guess if i saved all week to buy a handful of rounds i would get the pretty stuff.

I prescibe to a different philosophy. It is not good to be investing out of fear "SHTF scenario", it fogs the mind. Besides, a few hundred oz of silver wont get you very far if the SHTF. I think i remember Ponce estimating one would need about 3000oz to make a difference. I think it is part of the human make up to be an active participent, it gives us hope, even if its in vain. I know this is a very heated debate on here but i see different possibilites that are more likely than a "SHTF scenario". Yes the @hit will hit the fan but i dont think we will ever go back to a barter, bimetal, PM currency. Yes Gold will be king but paper will circulate. I can thank FOFOA for this changed view.

[Answer2me]

on the 100oz bars. If things where that bad and your scenario plays out just cut an 1oz off at a time, literaly. Silver is still silver in any form.

[JohnQPublic]

My best first order estimate is that you would need about 113 ozt. silver or 113 grams of gold per month for a family to survive. Of course this assumes some stability in barter rates, etc., which is hard to predict.

What Do Silver and Gold Buy?

I agree, you could cut off pieces, and it should be fine once people are used to dealing with silver.

[Neuro]

My best first order estimate is that you would need about 113 ozt. silver or 113 grams of gold per month for a family to survive. Of course this assumes some stability in barter rates, etc., which is hard to predict.

What Do Silver and Gold Buy?

I agree, you could cut off pieces, and it should be fine once people are used to dealing with silver.

John I liked your article, but what was average expenditure in 1903 was not what was needed to survive. Probably there were families who survived on one tenth of the average, in 1903... But I think it is a good idea to have some food preps, apart from gold and silver, to weather the storm at least initially, but it is quite likely that traders will soon pick up on the idea to accept gold and silver for merchandise in a currency collapse situation. They will see what happens to the fiat money they hold when the currency collapse.

[JohnQPublic]

October 21st, 2010, 9:58 PM PST

Oops. I said APMEX only had 227 10 ozt. bars. They have 2740. I was in the wrong category (I think they created a new one). Still low inventory, but not empty yet.

[osoab]

Been awhile since you updated this JQP.

Looking at apmex they have 1 1986-2010 of SAE monster box in stock. Seems very low to me.

They have also instituted this MintDirect™ thing for monster boxes.
When did this happen? I don't remember it a few days ago.

Still show 99999+ on 2010 SAE's, Around a thousand 2009 and 2008 SAE's. Under 700 in 2007 and 2006 SAE's.

[JohnQPublic]

November 22nd, 12:55 PM, PST

Gold: 7913 dif = +2726 (+25.6%, 36 days)
Silver: 2236 dif = +463 (+26.1%, 36 days)

Gold Premium: 5.1%
Silver Premium: 15.6%


Silver is being maintined at a low level. Apmex is advertising more 10 ozt. bars coming in soon. Gold appears plentiful.

[JohnQPublic]

Apmex down to 1298 10 ozt. bars available (more coming middle of january purportedly).