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-- Posted 2 March, 2009 | | Discuss This Article - Comments:
Source: SilverSeek.com
(Many other dealers are SOLD OUT!)Silver Stock Report
Our auctions are live, again tonight at 7pm at www.seekbullion.com. Tonight is the last night of a low $2.50/oz. over spot price reserve price for the 1 oz. rounds. Tomorrow, we will be back up at $2.75 over spot. We see no need to offer silver lower, given two things. 1. No significantly increased volume at the lower price. 2. Most of our competitors remain sold out. So, why should we give away the store? Besides, many of our rounds are re-sold at ebay.com for up to $20/oz.!
We have 5 new designs, starting in tomorrow night's auctions:
1. The CFTC "appreciation medallion" of prior mention.
2. A "Do you Love God?" round, an extremly overt Christian Themed round.
3. A 3rd Pirate design that is offset, like the privately minted pirate coins of old.
4. A 4th Pirate design of a ship on one side, and a compass on the other.
5. Blanks. No design at all. Stamp your own, or keep them blank!
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Tomorrow, our TV commercial starts at Bloomberg national TV.
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Some people remain intimidated by the auction process. It's very easy. Simply sign up with your U.S. shipping address, and place your bid! It's very easy to figure out. Just don't get caught in a massive bidding war, as there is now not yet any need. If you get an email notice that you are out bid, try to bid on another item. On Saturday, all but four of our auctions had bids over the reserve price, so since the auctions are still not yet oversubscribed, it's the best time to buy.
But we can get cleaned out very quickly, and now is the best time to buy, on a price dip, when it's quiet. Mondays are usually the slowest days, too.
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Here are two radio links from the Phoenix show, these were a large panel hosted by Al Korelin:
http://www.kereport.com/WeekendSpecial/022809weeklysegment1.mp3
http://www.kereport.com/WeekendSpecial/022809weeklysegment2.mp3
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Here is an excellent article I received today:
Risks of Investing in GLD ETF
http://www.marketoracle.co.uk/Article9030.html
Everything it says applies to the silver ETF.
So, there might be said to be a growing debate on the internet about the validity of the ETFs. In this debate, it's not up to us to prove they don't have the gold or silver. It's up to the custodians to prove that they have it. I think they fail the basic litmus test.
Part of the problem as pointed out by the author of that article is that you cannot redeem ETF shares for any real gold. The other big question is that the ETFs have so much gold, that there is a big question as to where it came from. A third problem is that these funds can be sold short, both covered and naked, which destroys the arbitrage opportunity that is supposed to exist which allows the funds to grow and accumulate gold!
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Interesting how things come together. While at the Phoenix show, a man gave me his book. "Financial Foghorn's Guide to Gold". I quickly asked him what he thought of the ETFs, and I found the page in the book as I was asking. Sure enough, he said he did not trust the ETFs. And this is IN A BOOK!
I actually used that question as a litmus test of my own, and said, that's good enough for me to recommend your book. And so, I think I just did.
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Many people continue to be amazed at our super fast shipping, where we ship the SAME DAY as wires come in. One man said, "How can it be done any better?"
But that's not our only competitive advanage. No other source on the internet has as many design choices as us when it comes to 1 oz. rounds.
Plus, we will soon be shipping your order to you before you place your bids! No. Not really. I was just getting excited there. Just checking to see if you are still reading. Just being a funny man. We really can't do it any better.
I suppose we could come down on price, and sell below cost, until our capital was completely drained away, but that's not going to happen if we can help it. That's almost as crazy as shipping before you order! As it is, our prices are so low, we do take losses from time to time, as the silver price can rise over 25-50 cents in the day that it takes us to get the money, and re-order silver!
As it is, we are PRODUCING before the order comes in, which is somewhat crazy, and revolutionary in itself. But we are not producing "non fungible" designs like the Franklin Mint did, or other mints did with oddly weighed or oddly shaped pieces! When the market heats up, we expect we will sell out of everything again.
But if you have any suggestions for designs, please continue to send them to terboted@gmail.com
We have at least 5 or more designs in the works. Upcoming themes are the snake from "Don't Tread on Me", a Peace Dove, a Lady Liberty, Shakespeare and DaVinci, and maybe I'm forgetting a thing or two.
Thanks for your business, and for your referrals. At this "dead" time, we could really use a referral. And now is the best time to refer us, as silver prices are on a dip! Please tell your friends about us.
Sincerely,
Jason Hommel
www.silverstockreport.com
www.bibleprophesy.org
-- Posted 2 March, 2009 | | Discuss This Article - Comments:
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