Miners Selling Their Own Silver OnLine

Posted by: hobbers on November 22, 2008 12:49PM

In response to: Re: did everyone see Peter ... by DONTCRYFORME

First Majestic (FR), the young silver company I own and mentioned the other day, is one of the few silver companies I know of that converts some of its product into coins and bars and sells them off their website. They're making a lot of money. It has been suggested by more than one writer that metal producers should do this to beat the cartel at their own game. FR needs to ramp up production as a lot of their stuff is sold out. Cost of their silver: $14.00 US per ounce.

What FR is doing is perhaps a model for other companies to follow, especially if the cartel keeps it foot on the brakes. I don't know if you have to be a stock holder to purchase their stuff, but I doubt it. I have not, as yet, purchased anything from them.

If interested in seeing how they handle this, click "First Majestic Coins Now Available" on their website:

www.firstmajestic.com.

From their website:

"The company's direct sales of finished silver products continue to be very robust. The company presently is selling approximately 5 per cent of its production in the form of one ounce, two ounces, five ounces and 10 ounces of coins, five ounces and 10 ounces of ingots, and one kilo of bars containing 99.9 per cent pure silver. These products are actively marketed on the company's website, and sales are anticipated to reach 10 per cent of the company's production by February, 2009. The sale of silver in these forms tends to sell at a substantial premium to COMEX spot prices and helps to supply the enormous demand for physical silver in the current environment."