Silver Stock Report
by Jason Hommel, September 19, 2008
I’m parterning with a popular and well known bullion dealer to auction off 50,000 ounces of silver.
50,000 one-ounce silver coins: Canadian Olympic Mapleleafs
Terms: Available to bidders in the USA only.
Auction ends September 22, Monday, Noon, Pacific Time.
Bid how much you are willing to pay over spot.
Spot price will be Friday’s London Silver Fix, as listed:
Or, bid a total final price.
Minimum bid: $2.50 USD over spot, per ounce.
Minimum bid size: 5000 ounces. So there are 10 lots up for auction, you may bid for 1 lot, several lots, or all.
(The coins come in boxes of 200 coins each, so minimum is 25 boxes.)
Dutch Auction Rules. High bidder wins and gets first allocation, but the final auction sales price will be the lowest price bid that is required to fill the whole 50,000 coin auction.
Email your bids to: firstname.lastname@example.org
Winning bidder (or bidders) will be notified via email on Monday, wire transfer instructions, to wire directly to the dealer.
Wires must be sent by Tuesday.
Only bank wires will be accepted. No checks, no Credit Cards, no cash.
Free, insured, shipping, to anywhere in the USA ONLY, included in the price.
After the auction, I will release the range of bids, but not the name of any bidder.
I accept no responsibility if your email bid gets lost and does not arrive, or gets lost in the spam filter. Email via “returned receipt requested” to help ensure confirmation of your bid.
I will attempt to email back to confirm bids as they come in.
I may publish bids half way through the auction.
As many of you know, even coins are getting harder to find and source.
I expect the coins to auction for between $3-6 over spot.