Physical silver shortage, Austrian Philharmonic Silver coin
Apparently with silver, gold, platinum and palladium futures falling down the drain, shortage of physical silver is very acute. I checked with few local stores and they are out. One dealer said he may get me few Engelhard 100 oz bars but wasn't sure. The only more or less standard 1 oz coin APMEX sells is Austrian Philharmonic Silver for $13.92 - a $2.99 premium over $10.93 spot price, and only if you buy at least 200 coins. Otherwise you can buy up to 20 ounces for $14.42 per ounce and any quantity in-between for $14.22. Nothing else pretty much is available. Kitco only have 1,000 oz silver bars for $11,170. Obviously, there are very many people buying physical silver, who have very little faith in US dollar. See 100 oz silver bar shortage.
Sat Sep 13, 2008 08:09AM by Joe | More in Personal Finance | Comments (0)
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