Friday, August 08, 2008

Looking for silver in all the wrong places

I've been having a hellish summer not just because of the weather but the expectation that I can manage a 2 1/2 person job alone for 4 of the last 6 Weeks, arggg.

This frenzied state has left me little time and too sore (carpal tunnel) to blog much recently, but since this was so important I thought I'd share it with you while I try to wolf down my Tim Horton's Chili (mine tastes so much better)

On the few occasions I've gotten away from my desk this summer I've bolted over to the Scotia Tower or the coin dealers to see who if anybody has some silver, for the most part I've come up dry. While Scotia did have 6000 maples 2 weeks ago they've had very few bars since winter and when they do they never stay in stock too long.

This week while on a jaunt with a fellow metals investor we went over to a Jewellery mall in downtown Toronto. This building has open vendors on the first floor but also has 16 more floors containing manufacturers, custom jewelers specializing in insurance replacement, gem importers, diamond setters and wholesalers and 1 lone refiner. ding ding ding, we have a winner.

While the powers that be make sure there is little to no silver available for us retail investors in the normal places like Scotia Bank they cannot allow the Jewellery industry to report shortages or the game is lost.

So guess what? I've found silver in many sizes, comparable prices to online retailers like Border gold and unlike Scotia they don't ask for 2 pieces of I.d. They do ask you name and number but since they don't ask for proof, what you tell them is your business. They also buy scrap at fair prices so you don't need the pawn brokers or outfits like the "cash man"

So for my few GTA readers who can't find silver you want to go to

21 Dundas Square
Toronto, ON M5B 1B7
(416) 363-0584‎

If you score big, send me a one ounce finders fee, or even a silver dollar.

For those of you in different cities I suggest that you find out where the jewellers buy their silver. Since I suspect the PTB will be reluctant to squeeze this market, they should be able to sell you or perhaps even order you what you want.

With this weeks correction, do it now and buy buy buy!!!