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An open letter to mining CEO’s - April 6th 2016

Peter Degraaf | Wednesday April 6th

Specifically to those who mine gold and silver.

By Peter Degraaf

Consider changing the policy of shipping your product into the warehouses that supply bullion which backs up futures contracts.  This procedure is helping those who are depressing the price that you receive for your bullion!

Instead you need to ‘starve the paper market’, and think of ways to convert your bullion into retail products.  There is rapidly growing demand on the retail side for finished products!  Here are some examples:

Fine Silver Rounds Available In Retail

Featured are some examples of 1 ounce ‘Rounds’ produced by Johnson Matthey. 

Fine Silver Buffalo Round

This one ounce round is very popular with silver investors and is available at coin dealers and precious metals distributors.  This one ounce silver round and many similar rounds are currently being produced by a number of private mints including Sunshine Mint, Golden State Mint, Silvertowne, Johnson Matthey and others.

Fine Silver Indian Liberty Retail Round

Here is the obverse of the Buffalo 1 ounce round, manufactured by the Silvertowne Mint in Indiana.

Fine Silver Sunshine Mint Round

Shown here is a 1 ounce round that is produced at the Sunshine Mint in Idaho.

Fine Silver Liberty Round

Featured here is a 1/10th ounce round that is marketed by many retailers. 

Fine Silver American Prospector Round

Engelhard refinery is known for the Prospector 1 ounce round.

The Fed - Not Federal, No Reserve

This one ounce silver bar is produced by Silver Shield and features a message that rings a bell with many silver investors. This shows that your product has potential in many directions.

Fine Silver Private Mint Round

Golden State Mint has created this traditional ½ ounce pure silver round.

Fine Silver Round

This one ounce round is produced by the Native American Mint.

Gold Bars From Various Refineries

These 1 gram gold bars are very popular and are produced at a number of refineries.

Fine Silver Replica Coin

This very popular 1 ounce round is produced by a number of private mints.

Fine Silver Apmex Round

This beautiful ½ ounce round is produced by Apmex.

Fine Silver Liberty 1804 Replica

This stunning replica of one of America’s rarest coins is a popular item in hundreds of coin stores in its 1 ounce silver form.

Fine Silver 1 gram Bar

Silver products come in all shapes and sizes.  This 1 gram silver bar is one of dozens of designs that sell by the thousands.

                   Fine Silver Bullets

There is no end to the many different products that can be created in pure silver, and are purchased by collectors and investors, like these pure silver bullets.  Those of you who are producing raw silver are urged to contact a silver refinery and work out a marketing plan for finished product.


--->Finally here is one more suggestion.  When you sell your silver or gold bullion, don’t put the money in the bank where it could end up being targeted during bail-ins, or almost certainly subject to negative interest rates.  Instead buy shares in a gold or silver trust such as the Sprott Gold Trust, or the Sprott Silver Trust, or Central Fund, or any trust where the goods are audited on a regular basis.  These trusts will then use your money to buy bullion to store in their vault, away from the futures warehouses where it is used to back up futures contracts.  If you believe in your product, you will reap a profit from ownership of shares in bullion trusts that are sure to continue to benefit from the bull market that began in 2002!

Here are several charts (courtesy, to prove that point.


Featured is the monthly gold chart with its 24 month moving average.  In 2002 price broke out at the 24MMA to start a 9 year rally.  From 2013 until recently, this moving average has proven to be strong resistance.  In February, for the first time in 14 years, price broke out above this MA again.  A testing of the breakout is taking place at the moment and a close above $1300 will be powerful evidence that a new bull market is underway. The supporting indicators are positive. 

 Gold Spot Breakout Chart

The gold price bottomed in December and is currently rising in this four-month-old channel.  The next rally is expected to begin once price breaks out at the tip of the green arrow at the $1240 level.  The supporting indicators are ready to turn back up. 

Silver Spot Breakout Chart

Silver is emerging from a bullish wedge formation.  Confirmation will come with a close above the blue arrow. 


Peter Degraaf has been an investor for over 50 years.  He publishes a daily report for his many subscribers.  For information visit his website

Disclaimer:  Peter Degraaf is not responsible for your investment decisions.  Please do your own due diligence.

Readers are invited to forward this article to every mining CEO in your address book.

Published:April 6th, 2016

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