Author Topic: Northwest Territorial Mint is bankrupt?  (Read 3204 times)

Offline Nailer

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Northwest Territorial Mint is bankrupt?
« on: March 26, 2008, 07:42:34 am »
I hope nobody from this site is waiting on silver from these people..


http://goldismoney.info/forums/showthread.php?t=250076

http://www.silverstockreport.com/2008/structure.html

It appears to me that Northwest Territorial Mint is bankrupt. Based on Ross Hansen's letter to me last week, a reader did some calculations based on the admissions in that letter. Ross sells 20,000 oz. of silver per day. And Ross has 300,000 oz. of silver "in the pipeline", and deliveries are about 60 days, at best. There are about 43 business days in 60 days. (5/7). 43 days worth of silver, for Ross, at 20,000 oz./day, should be about 860,000 ounces, creating a deficit of about 560,000 ounces of silver that they are short, and have taken orders for, and have not yet bought that silver in this rising market from $13 to $20/oz.
I received 20 more compaints about the Northwest Territorial Mint since Friday, some readers waited 5 months to get silver, others have orderd silver in November 2007, and have not received it yet.
On Friday, one man reported to me that he walked in to the Northwest Territorial Mint and tried to get 100 oz. bars, and could only get 6 bars.
Here's an interesting story about a mint that went bankrupt in 1980.
http://bulk.resource.org/courts.gov/c/F2/634/634.F2d.1285.79-1555.79-1554.79-1553.html
"the corporation was selling silver and other products which it did not have in its inventory and did not have sufficient cash to obtain. The period of delay in delivery increased as replacements were not full and complete in terms of maintaining an inventory which allowed prompt delivery after the sale. First there was a seven or eight week delay in delivery of orders to retail customers and a shortage of about 80,000 ounces of silver which became apparent in December 1973 and early January 1974.
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Offline Nailer

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Re: Northwest Territorial Mint is bankrupt?
« Reply #1 on: March 26, 2008, 09:36:58 am »
I guess this is old news since there have been no replies.. I was thinking about what effect this would have on the Silver market , will it cause silver to rise in price or go down ?
I am a realist that is slightly conservative yet I have some republican demeanor that can turn democrat when I feel the urge to flip independant.
 
The truth shall set you free, if not a 45ACP round will do the trick.. HEHE

Offline Amishism

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Re: Northwest Territorial Mint is bankrupt?
« Reply #2 on: March 26, 2008, 10:05:46 am »
Not surprising. They are a rip off. Takes forever to get anything out of them.

Offline chilicooker

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Re: Northwest Territorial Mint is bankrupt?
« Reply #3 on: March 26, 2008, 04:46:01 pm »
This is a total bullshit story.

They're still there, they're still answering their phones and they're still talking to their customers.

I just called them and they spent 10 minutes on the line with me.

They're out of stock because of the high demand. The U.S. mint has suspended shipments because of the unusual high demand. The Mint didn't mint enough. GO figure, the U.S. Government couldn't figure something out??????????????????  When have they EVER figured anything out without flashcards?
Not just to NWTM, but to EVERY dealer.

Pull your panties out of the crack of you ass.  NWTM is still in business,  even if they don't ship as fast as Amazon.com.

Offline Nailer

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Re: Northwest Territorial Mint is bankrupt?
« Reply #4 on: March 26, 2008, 05:40:51 pm »
I would not order from them considering the complaints against them and the time it takes to get your order.. I also heard they dont take credit cards..
I am a realist that is slightly conservative yet I have some republican demeanor that can turn democrat when I feel the urge to flip independant.
 
The truth shall set you free, if not a 45ACP round will do the trick.. HEHE

Offline chilicooker

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Re: Northwest Territorial Mint is bankrupt?
« Reply #5 on: March 26, 2008, 06:45:45 pm »
Any credit card purchase causes the seller to increase their costs by 3% or inflate their prices or shipping charges by 3% because that's what every bank charges per purchase on any credit card transaction.
Almost the same for EBay sales. Smarten up.

That's the cost of using a credit card. Do you think it's a free service because your bank loves you?
Nothing is free. If someone offers "Free Shipping", the costs are built into the price of the item being ordered. Either way, you're going to pay for the costs of using a credit card.

Who is learning you? More importantly, who ISN'T learning you on the ways of the world?