Tuesday, December 02, 2008
The Great Silver Safari, leads to a trophy.
A rumour came across my desk this morning that there was wild silver roaming the streets near my place of employment. Always ready for a challenge I donned my fiat currency patterned cammo, grabbed the Save the Orphan charity box from the local Tim Horton’s and proceeded into the wilds of downtown Toronto in search of elusive silver.
The light dusting of snow aided little as the small foot prints of silver rounds were soon stomped out by the great cloven feet of bay street executives. Being unarmed and without the protective powers of a six digit lawyer (or is that 666 digit lawyer) I skirted around these bestial creatures with their pointed horns, acidic drool and fetid breath.
3 times I walked up and down Bay Street until I heard the pure ring that only a silver coin can produce right in front of Scotia Plaza. Keeping near the walls and shadows I worked my way towards the currency desk, crawled past the security guys who always give me that “you’re not dressed well enough to be in our bank look” and finally standing and sprinting to the head of the forming line of other wild eyed metal buyers.
Things were looking good until I realized I had just picked the smuggest little shit of a teller I’ve ever encountered in 4 years of dealing with metals. He did not want to chat about the metals market, he told me that there is no shortage just no small bars(duh, the market wants something and it does not exist, to me that is a shortage), he would not tell me how much the received in the recent shipment, I did not even bother asking about what was selling and what was not because he was just too snotty.
I told the teller I write on Silver and I wanted to know how much they had before I informed my readers to drop by and he responded, “Don’t write about it we don’t want a panic in here” Well mister snotty, I hope I do have enough local readers to cause a panic and I hope they all lecture you about the realities of the silver market.
What really mattered however is I bagged the silver, the hunt was successful and I can tell you Scotia Bank received a load yesterday of brand new , 2009 Silver Maples and if the past is any guide it was probably in the range of 30,000 ounces, which lasted 2 weeks last time they got them in.
They also have Scotia brand 1 oz silver bars which should sell a little cheaper and be PST free compared to the Maples. MR smug also claimed big bars were not in shortage so 1000s should be available.
I can also tell you with some certainly that Scotia has gold bars and rounds in 1oz and fractional sizes because I saw them being sold, this a.m.
I hope this little find will be of use to my local readers and please DO cause a panic at the desk.
I also wanted to thank all those who voted for me last week and let you all to know I made the final round of the Canadian Blog Awards coming in the top 5 of 22 nominees.
For those interested please drop by and support the only real money blog in the running this year,