When we last spoke with Andy he warned of a looming precious metals shortage in the fall, due to the near global mine shutdown caused by Covid 19. "We are at roughly 8 times normal sales at Miles Franklin." Federal indictments against JP Morgan metal traders in March make Andy believe that it's changed landscape. Silver went from around $12 to nearly $30. Gold went to $2000. Bottom line is that prices were supressed. Andy has been accumulating metals from any available source. He's got a large selection of gold and islver. Jump quickly. Premiums are high. There's not enough supply. It's a challenge to get product. US and Canadian mints are only running at 50 percent capacity.
Andy Schectman is the President and CEO of Miles Franklin Ltd. Precious Metals.