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Thread: Perth Mint Scandal

  1. #11

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    What is going on with silver right now is kind of a "meme" thing, in time it will pass. Silver is just to plentiful since technology makes it oh so much easier to sift out of the dirt. Enough so, at my new job I watched the company throw silver electroplated wire scrap into the garbage. I was sensitive to it, I knew when they were throwing it away and collected some 35 lb. of wire which holds about 9 oz. of silver, I'm sure hundreds of lbs. of that wire went to the landfill, but alas, my scrapyard will only give me 10 cents lb. for it since it's not pure copper, even though the silver included is worth twice as much as the copper. I never thought I would be dumping $300 in melt value metal into the landfill, and silver besides, but it's cost prohibitive to recycle it. BUT, this goes to show how plentiful silver really is, it's cheap enough to throw away.

    Quote Originally Posted by ifionlyhadsomegold View Post
    Being a long standing Kitco customer I am not looking to have anything bad happen to them. I think it's fair to characterize the situation by saying they do not want a run on their pool accounts by an undue panic (not saying it's undue) placing a strain on their business model. Unfortunately the market may not cooperate.

    Clearly the worlds entire system is not set up for such an event and never was. Taking delivery periodically has always been the best way to acquire physical PM's.

  2. #12

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    Quote Originally Posted by everything1 View Post
    What is going on with silver right now is kind of a "meme" thing, in time it will pass. Silver is just to plentiful since technology makes it oh so much easier to sift out of the dirt. Enough so, at my new job I watched the company throw silver electroplated wire scrap into the garbage. I was sensitive to it, I knew when they were throwing it away and collected some 35 lb. of wire which holds about 9 oz. of silver, I'm sure hundreds of lbs. of that wire went to the landfill, but alas, my scrapyard will only give me 10 cents lb. for it since it's not pure copper, even though the silver included is worth twice as much as the copper. I never thought I would be dumping $300 in melt value metal into the landfill, and silver besides, but it's cost prohibitive to recycle it. BUT, this goes to show how plentiful silver really is, it's cheap enough to throw away.
    Circular reasoning is fun!!!

    You do realize that the claim is that the price is artificially deflated by naked shorts, yet here you sit using that low price as proof that silver is plentiful...

    And using an anecdotal example, at that.

    You do realize that nothing you posted proves anything conclusively demonstrates anything, right?

    It is perfectly reasonable for your example to be true, and silver still be becoming more scarce. That's all I am saying.
    "Compulsory altruism is none too altruistic." - me

    "All of us necessarily hold many casual opinions that are ludicrously wrong simply because life is far too short for us to think through even a small fraction of the topics that we come across." -- Julian Simon

  3. #13

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    Silver is not plentiful. That is a lie. If it was premiums would not be $5+ and everybody could cash out their pool account at one time without issue. The lie last time when it went to $50 supply and demand was to keep it under $20 and there was no manipulation. Don't believe the same folks that got it wrong last time.

  4. #14

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    As far as Kitco unallocated pool accounts go all the holdings are backed by physical metal. Whether that metal is in a form that the account holder prefers at the moment is another issue, as both myself and Motocat observed some time back with Plat. There was a short wait to get the form of plat that I wanted, and if I read motocat's post correctly, he also had to wait to get the form he wanted. In my case I wanted coins or 1 oz valcambi bars. I could have taken 10 oz bars if I had wanted to convert that moment, they were available and in quantity that was more than suffice for my holdings.

    Again everyone is being asked to be mindful of unsubstantiated speculation and reckless opinions that might harm our host. Plenty of leeway has been given by Kitco for all to share about unallocated pool accounts but it has to be factual.

  5. #15

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    Quote Originally Posted by everything1 View Post
    What is going on with silver right now is kind of a "meme" thing, in time it will pass. Silver is just to plentiful since technology makes it oh so much easier to sift out of the dirt. Enough so, at my new job I watched the company throw silver electroplated wire scrap into the garbage. I was sensitive to it, I knew when they were throwing it away and collected some 35 lb. of wire which holds about 9 oz. of silver, I'm sure hundreds of lbs. of that wire went to the landfill, but alas, my scrapyard will only give me 10 cents lb. for it since it's not pure copper, even though the silver included is worth twice as much as the copper. I never thought I would be dumping $300 in melt value metal into the landfill, and silver besides, but it's cost prohibitive to recycle it. BUT, this goes to show how plentiful silver really is, it's cheap enough to throw away.
    You need to find a new scrap dealer.

  6. #16

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    How does anyone even know this is a scadal? Is it written in stone that Perth cannot allocate with whatever silver they have on hand?
    Anyone that identifies themselves by the color of their skin, is a racist.
    There is only ONE race of people on this planet, the human race.

    Do not be deceived, Darwin’s theory of Evolution is racist. When Darwin is properly understood, it leads to the justification for believing that certain races of people are by birth and nature superior to others and that is the definition of racism.

  7. #17

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    Quote Originally Posted by everything1 View Post
    What is going on with silver right now is kind of a "meme" thing, in time it will pass. Silver is just to plentiful since technology makes it oh so much easier to sift out of the dirt. Enough so, at my new job I watched the company throw silver electroplated wire scrap into the garbage. I was sensitive to it, I knew when they were throwing it away and collected some 35 lb. of wire which holds about 9 oz. of silver, I'm sure hundreds of lbs. of that wire went to the landfill, but alas, my scrapyard will only give me 10 cents lb. for it since it's not pure copper, even though the silver included is worth twice as much as the copper. I never thought I would be dumping $300 in melt value metal into the landfill, and silver besides, but it's cost prohibitive to recycle it. BUT, this goes to show how plentiful silver really is, it's cheap enough to throw away.
    I'm sure your scrapyard would be more than happy to take your silver plated copper wire for .10 cents a pound. If I got the plated wire free, I would have sold it for .10 cents or looked for a better option of selling it. Don't think I would have trashed the plated wire. Please note that this doesn't mean silver is cheap enough to throw away.
    Stacking since the late 1970's

  8. #18

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    Quote Originally Posted by Hombre Plata View Post
    How does anyone even know this is a scadal? Is it written in stone that Perth cannot allocate with whatever silver they have on hand?
    This is an excellent question. I have been looking for actual evidence of defaults & I am not seeing them at this time.

    What I am seeing, is a bunch of low post entities on this board screaming that the sky is falling. It smells like a coordinated attack on our host. I don't like it.

    I very much like to encounter new & different ideas, so that I can consider possibilities & expand my thinking. An echo chamber of ghost accounts all making unsubstantiated accusations at once, does not foster productive thought. This is the same as the difference between a Lynching & a fair hearing.

    I'm a fan of transparency, sunlight, truth & progress through honest effort & rational thought. The recent bombardment of negative claims bears no resemblance to that.

    Our gracious host has impressed me with their tolerant & open response to this attack. It is unfortunate that they must endure this. I appreciate Kitco staying the course. Thank You Kitco.

  9. #19

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    OMG this is so funny!

    APPLE IS OUT OF IPHONES - THEY SENT ME ONE MADE IN CHINA!!!! [for those that don't know, iPhones are made in China]

    Really is that right, someone is saying that the Perth Mint is "out of 1000 ounce bars" because they are giving people 1000 ounce bars made in a country they don't want bars from? That just doesn't make sense. Silver is silver!

  10. #20

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    https://www.perthmint.com/documents/PABarlist.pdf

    https://www.perthmint.com/storage

    To bad the OP was to lazy to do 5 minutes of research... And to post a video of Bix who officially has ZERO credibility is pathetic...

    Yellowsnow should change her name to Brownsnow because this thread is full of $hit
    Last edited by Hombre Plata; 04-13-2021 at 05:32 PM.
    Anyone that identifies themselves by the color of their skin, is a racist.
    There is only ONE race of people on this planet, the human race.

    Do not be deceived, Darwin’s theory of Evolution is racist. When Darwin is properly understood, it leads to the justification for believing that certain races of people are by birth and nature superior to others and that is the definition of racism.

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