Monday, June 27, 2011

Missing Silver...

Early in my silver stacking I lost about $40 on a single silver eagle. Shipped via USPS with tracking, it said "delivered" but never did show up in my mailbox. A called complaint to USPS lead to no results. I still haven't received it, and I don't think I ever will. So imagine my concern when the hedge of silver I bought a while back (against what is looking more and more like the big drop.), said "delivered" online, but never showed.

The right amount of Silver can.
I repeated the song & dance with the post office. No results. Then went downstairs, into the patio of my downstairs neighbors, opened their mailbox (they've been gone for a few days) and pulled out my package of silver. Sigh. At least I have my silver. Which is continuing its slide, with spot dropping into the $33's, this could be it. Here's to a DIP! I want to BUY!

Since I've already got my monthly silver (almost didn't), I'm going to wait and see if the charts drop down to $32/oz and buy another hedge. I'll also buy a small hedge if it goes back to $35/oz. Some on the internet are claiming prices as low as $22/oz, I'm not sure about that, a more common estimate is $32, $30, $28/oz.

Edit: Got this as a question, wanted to elaborate for those interested.
Did the first silver shipment that went missing wind up in the same mailbox?

It is very possible, and if I had to do it over again, I would have knocked on my neighbors door and asked. As it was, I just checked my neighbors mailboxes, but it had been a few days and I was met with no success. Here is a more detailed explanation of events: The first shipment to go missing was "delivered" on a Friday  but I was at work. I wasn't expecting the package until Monday and that is when I discovered that it should have been waiting for me in my mailbox Friday night.

I figured that there were three options - 1. Someone stole it out of my mailbox while I was working, 2. The carrier miss-delivered, or 3. (Tin Foil hat alert) - Someone at the post office was stealing it.

You have no real recourse if your package is "delivered"
My first step was to call the post-office to see if there had been a mistake. When that was frustratingly futile, I surreptitiously checked the mailbox of both my neighbors. This yielded no results. Neither were home, and I didn't feel like pursuing a single oz of silver that badly. I figured that if my neighbors had gotten my package they would have returned it, and that most likely it had been delivered to another part of the complex, to some more unscrupulous family. I also didn't believe (until I saw firsthand) that a carrier could make such a terrible mistake (my mailbox is NOWHERE NEAR theirs, and has my apartment letter clearly above it). Now I know.

I've learned to try and be present during delivery times, and to eye the tracking information like a hawk. Because if they claim its delivered, and its not in your mailbox, there aint s%)* you can do. This is the first time I've been caught off-guard since the missing 1oz. As with the first example, I didn't catch that it was "delivered" until a while after.


  1. Did the first silver shipment that went missing wind up in the same mailbox?

  2. Requiring a signature is your only way around this problem.
    Have you looked on craigslist for a local source? Search under "collectibles" for silver eagle they are usually 4 or 5 bucks over spot, if someone is selling during a price dip you can do well and no shipping worries.


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