A2A with The Doc of SilverDoctors


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.



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.



Aug 12, 2016 - 1:26am


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".

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.


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.


Aug 12, 2016 - 1:17am

RE: Friends, Romans, Countrymen...

It's off hours! Let it fly :)

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.

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. "

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…

Aug 12, 2016 - 1:06am


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

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