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Silver brokers out of coins?

April 23, 2011

As a follow up note my one local brokers comment that they can’t get solve product and have 4-5 week delivery times I have been hearing rumors that both monex and kitco are sold out of American eagles. I have used apmex several times with good results so I called them yesterday. I was on hold for about 5 minutes and when I got through the operator said that they had “a ton” of silver left but that they couldn’t get anymore. She said that many of the other brokers out there get product from them and that she has heard of their inventory problems. When all was said and done I had no problem getting both maples and American eagles.

I don’t think it will be long before silver is “sold out”. The indications are there and soon we will all have to go to eBay to find some and pay a big fat premium. I paid about 10% at apmex and I think that silver coin premiums are going to raise up towards 15-20% as people get more desperate for physical.

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