Physical Silver Shortage

buf silver

The Physical Silver Shortage, such as 1oz .999 Silver Rounds (pictured) continues into September.  Delivery dates are being delayed and there have been some premiums increases. The situation is somewhat fluid, with supply being rationed out. If interested in purchasing physical silver, we encouraged you to directly contact San Diego Coin (858)569-5222  or  La Jolla Coin (858) 459-2228 for up to the minute pricing and availability.

Here is a bit more background and perspective on the current state of the Physical Silver Shortage.

Beginning Mid June of this year the retail (and wholesale) demand for physical silver, such as Silver American Eagle Coins, 1oz .999 Round & Bars, etc… exploded. Prompted primarily by the price of silver dropping below the critical $15.00 per troy ounce support level. As demand for physical silver continued to increase, producers of silver products, such as the U.S. Mint, the Royal Canadian Mint and private produces quickly depleted their stockpiles of raw silver to mint their products.

As word bean to get out that silver producers were running out of physical silver, that caused demand to spike even more!! It was (is) a snowball effect.

This series of events had (and still does at the moment) two distinct effects on the silver market; 1) Delivery times on the mainstream products became more and more delayed, from the producers all the way down to the retail buyer. 2) Premiums (the amount you pay over the spot silver price) began to creep up, as demand far out paced supply. This was ubiquitous and spread across the country.

San Diego Coin and La Jolla Coin are still taking orders on most mainstream silver products, but delivery times  are delayed and vary from product to product. If you are considering making a physical silver purchase, your best best is to call or email first to find out about current pricing and approximate delivery times.

The good news is this situation should resolve itself sometime in the foreseeable future, as producers hurry to get product to market. Feel free to contact us with your questions.

San Diego Coin   858-569-5222    chad@sandiegocoin.com

La Jolla Coin   858-459-2228   jeffrey@lajollacoin.com

 

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