A2A with The Doc of SilverDoctors

112

It was great fun to visit with my pal, The Doc, today. It was also highly informative as we discussed the dynamics of being a bullion dealer and how this impacts physical supply and demand of gold and silver coins.

Among the topics discussed in this 53-minute call:

  • How does "coin allocation" from the US Mint work
  • What does it mean to be an Authorized Participant at the wholesale level
  • How do large dealers manage risk and inventory
  • What types of coins are the biggest sellers and why
  • The advantages of 90% silver and why people own it
  • Current demand and supply trends within the industry

And much, much more. This was an extremely informative discussion, the likes of which you're simply not going to find anywhere else. Please carve out some time to give it a thorough listen. And, of course, you can always find excellent deals at www.sdbullion.com.

TF

  112 Comments

  Refresh
tyberious
Aug 12, 2016 - 2:01am

Turd is "good people".

no argument there!

Here on Hawaii time, I've been through all of the East coast news and market action, now is time for interesting commentary.

James CrightonAlienEyes
Aug 12, 2016 - 1:40am

@Alien Eyes - 1:10 am post

Alien Eyes - I agree with what you have written: "At present, I am of the opinion that it is simply impossible to separate finance and markets (fiat or PMs) from politics" - and will miss your eloquently crafted insights into current (and past) affairs. I do hope you won't stop posting as I learn a lot from you.

sincerely

jc

AlienEyes
Aug 12, 2016 - 1:26am

tyberious

I've already said too much and the off peak traffic of this site is not a primary concern to me. I don't really have a dog in this fight (and it's not really a fight at all) and protecting a friend is far more important. Turd is "good people".

tyberious
Aug 12, 2016 - 1:19am

Holy Grail of energy policy

Holy Grail of energy policy in sight as battery technology smashes the old order

You can track what they are doing at the Advanced Research Projects Agency-Energy (ARPA-E). There are plans for hydrogen bromide, or zinc-air batteries, or storage in molten glass, or next-generation flywheels, many claiming "drastic improvements" that can slash storage costs by 80pc to 90pc and reach the magical figure of $100 per kilowatt hour in relatively short order.

https://www.telegraph.co.uk/business/2016/08/10/holy-grail-of-energy-pol...

AlienEyes
Aug 12, 2016 - 1:18am

Friends, Romans, Countrymen...

It has come to my attention (which is not that easy to do) that I probably talk way too much. (check)

They just don't come any better than Turd F. He is exceptional in so many ways and I am keenly aware of it.

We have had a very few differences of opinion which is simply human nature. At present, I am of the opinion that it is simply impossible to separate finance and markets (fiat or PMs) from politics. At least from a political perspective, it has become all about money and nothing but money while at the same time the PM markets have become all about financial and political control. It is absolutely impossible to hold a political office and amass a personal fortune in excess of 100,000,000 dollars through clean, honest and legal behavior. The Clintons have twisted "speaking fees" into a clear conduit for "bag money" and have every intention of getting away with it....no matter the cost in human lives. We are talking about money and unmitigated greed and that has become the true nature of both the financial world and politics.

However, I totally agree with Turd that the political discussions have become a bit much of late and at least a portion of this is clearly my fault. I truly believe this November could be our last real chance of saving what's left of America. In the coming months we could see unknown blockbusters released by Wiki Leaks, the Russian security services and Washington insiders who love their country. More than one person has already given their life to do so and at least two more are holded up in foreign countries and afraid to leave. If anyone is of the opinion that these next few months will have zero influence on PM prices, I believe they are profoundly mistaken. We could all be present when this entire unholy mess comes unglued. Throughout history, today's hyperbole has become tomorrow's reality. When the melt down takes place, it will come about at great speed because it is all connected and to a greater extent than ever before. We are watching nothing less than a social and economic cataclysm unfolding right before our eyes. It might be briefly entertaining but it will not be painless or pretty.

That said, I will take my clue to STFU and do so with no hard feelings whatsoever. Turd has been a constant friend to all of his readers and after all, it is his site and what a bargain it is. Make no mistake, this is not about "taking my football and going home". It is about "taking my football and going to bed". I am tired and need to give it a rest. As for the football, I would simply leave it in the yard but I'm afraid some kid would steal it.

AE

tyberious
Aug 12, 2016 - 1:17am

RE: Friends, Romans, Countrymen...

It's off hours! Let it fly :)

canary
Aug 12, 2016 - 1:16am

Go Miners!

Silver Wheaton (SLW) reports higher 2Q profit. Record gold production.

Pan American Silver (PAAS) posts 2Q profit. Reduces costs guidance for 2016.

tyberious
Aug 12, 2016 - 1:16am

Danny B

Energy storage is killing baseline power plants

Martin Armstrong has his super-program, Socrates that runs 23,000 variables. I hope to juggle 10. The area that I fault Armstrong is; he doesn't give enough "weight" to birth control. There really isn't much of a historical baseline to give guidance. The demographic crash is one of the biggest factors in finance.
"Several decades ago, you could have had about 10 workers per retiree, but that could shrink to the point where in Italy, for example, you had three workers per retiree" More Old Than Young: A Demographic Spreads Around the Globe - Bloomberg
In America, only 50% of the working-age population is employed. The pension funds were toast anyway. ZIRP has made them burned toast.

Elon Musk invested a ton of money into his battery plant but, his batteries may be obsolete. Storage technology is moving so fast that it improves every week.
"Once storage costs approach $100 per kilowatt hour, there ceases to be much point in building costly 'baseload' power plants such as Hinkley Point."
Holy Grail of energy policy in sight as battery technology smashes the old order
The fallout; "China’s infrastructure investors have had a tough two weeks, with plugs being pulled on at least $15 billion of potential deals in nuclear power and electricity distribution.

"Britain and Australia refused to sign off on investments where state-owned Chinese companies were ready to provide much-needed funding. In both cases, the long-term utility programs were halted in the later stages, stunning participants. Those in the U.K. were all set to join a signing ceremony when the announcement came."
China’s $15 Billion Energy Ambitions Crushed Within Two Weeks - Bloomberg
This is very big news,,, BAD news for the power industry.
"U.K. Prime Minister Theresa May’s government is reconsidering a plan to build Britain’s first nuclear-power facility in more than 20 years."

"renewables generated 18pc of UK power last year, and this is expected to double by the late 2020s as wind and solar capacity reach 50 gigawatts (GW). Once the power can be stored for overnight use, there will be extended periods in the summer when no base-load is needed whatsoever.

Perhaps the Hinkley project still made sense in 2013 before the collapse in global energy prices and before the latest leap forward in renewable technology. It is madness today.

The latest report by the National Audit Office shows that the estimated subsidy for these two reactors has already jumped from £6bn to near £30bn. Hinkley Point locks Britain into a strike price of £92.50 per megawatt hour - adjusted for inflation, already £97 - and that is guaranteed for 35 years.

That is double the current market price of electricity. The NAO's figures show that solar will be nearer £60 per megawatt hour by 2025. "

Fandango
Aug 12, 2016 - 1:13am

Wisdom we sould contemplate...

Quote: Peter Vajda

‘This is the way we always have ridden the horse’ or ‘Appoint a committee to study the horse’ or ‘Buy stronger whip’ or ‘Change riders’ or ‘Promote the dead horse to a supervisory position’

The analogies apply, too often we focus on everything but the dead horse, and forget what it takes to win the race…

infometron
Aug 12, 2016 - 1:06am

@Dirt

Could you put a few more decimal points on that ratio please ;^)

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 10/19

10/19 11:45 ET Goon Chlamydia
10/20 8:30 ET Housing Starts
10/20 1:00 pm ET Goon Evans
10/21 10:00 ET Goon Mester
10/21 2:00 pm ET Fed Beige Book
10/22 8:30 ET Initial Jobless Claims
10/23 9:45 ET Markit Oct flash PMIs

Key Economic Events Week of 10/12

10/13 8:30 ET CPI and Core CPI
10/14 8:30 ET PPI
10/14 9:00 ET Goon Chlamydia
10/15 8:30 ET Philly Fed
10/15 8:30 ET Empire State Idx
10/15 8:30 ET Import Price Idx
10/16 8:30 ET Retail Sales
10/16 9:15 ET Cap Ute & Ind Prod
10/16 10:00 ET Business Inv

Key Economic Events Week of 10/5

10/5 9:45 ET Markit Svc PMI
10/5 10:00 ET ISM Svc PMI
10/5 10:45 ET Goon Evans
10/6 8:30 ET Trade Deficit
10/6 10:00 ET JOLTS job openings
10/6 10:45 ET Chief Goon Powell
10/7 2:00 ET Sept FOMC minutes
10/7 3:00 ET Goon Williams
10/8 8:30 ET Initial jobless claims
10/9 10:00 ET Wholesale Inventories
10/9 12:10 ET Goon Rosengren

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Forum Discussion

randomness