Apmex Not Taking Orders

Yeah I do, they appear to be taking orders but the exact price isn't locked in (or shown) until the order is placed.

IMHO I don't think APMEX has a supply problem, just a pricing unknown. But what do I know

From the APMEX facebook

As APMEX does every Friday just before the market close, we set aside an amount of precious metals to offer over the weekend until the markets re-open on Sunday evening. Many precious metal dealers close over the weekend due to lack of a market, convenience or the lack of supply for the two days. APMEX has stayed open with offerings to serve the customers when it is perhaps more convenient for the customers.
For most weekends (since 2008), there has not been any significant news that would drive market prices higher or lower than the close on Friday. However, last Friday, August 5, 2011, was different.
The U.S. Debt was downgraded from AAA to AA+ by Standard & Poor's, one of the premier rating agencies. This had been threatened by S&P, but earlier in the week it appeared that the AAA rating would be preserved. At about 8:35 PM, the news was out: S&P had downgraded the U.S. Debt to AA+ and this unprecedented action had never been done before. This was huge news that dramatically changed the financial markets. However, all the major markets around the world were closed and APMEX was still offering precious metal at prices as of Friday's market close about 4:15 PM CT, well before the S&P announcement.
Given the startling news Friday night, buyers came to the APMEX website and by early Saturday morning, APMEX had sold its full allocation for the entire weekend. Management huddled and decided to offer another allocation of precious metals to service our customers but since markets were closed, the precious metal prices were increased based on the news then available in the market. After watching the additional allocation quickly sell out Saturday, Management felt it best to suspend taking orders on the website until the precious metal markets were open in Asia on Sunday evening around 5:00 PM CT.
These are times never seen before. APMEX is working to serve our customers as best as can be determined in economic times that have never before existed. APMEX will always keep its customers as first priority and with all the considerable resources available, make precious metal product available with the best service at competitive prices.

Junior, did you see this on Kitco home?

http://cnbusinessnews.com/gold-hits...wait-market/

Thanks swrb, that explains a lot.

I guess I'm too new to get that one

Good point.

I just picked up some Mexican gold on ebay for the same price as APMEX. Let's see what happens tomorrow...

I don't have a problem with any business making a business decision to stop their weekend sales. In fact they should not even be required to explain their actions to anyone it is their business.

For APMEX you certainly had enough extended time since the close of market to buy until they stopped over the weekend.

So if gold or silver makes a large jump they will make some money, if one or the other falls they will loose some money.

The ATB series - the best darned door stops ever made. Not the easiest things to find a buyer but they do a darn good job keeping the door open in a breeze that is where mine are.

The problem with Americans is that we have become to spoiled and want everything yesterday. I made sure I made my buying decisions on Friday and acted the way I thought I should. I will know in a hour if I made the right choice.

One thing IS for sure. In 40 years, any of today's dollars that have been saved WILL be worth a LOT less! That's been true for the 62 years of my life and I don't see anything acting to change it. If anything, most of today's actions are exacerbating the US's financial problems rather than solving them.



Wrong! We want FTL delivery! Since this is Faster Than Light, the products WILL arrive BEFORE we order them!