Silver in Short Supply

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Physical Silver in Short Supply. Here’s why. On July 8th of this month (July) Silver hit $15.00 per troy ounce, down from $15.65 at the beginning of the month. We saw a bounce back up from that support level in the days following. Yet on July 16th Silver prices dipped below the psychological support level of $15.00/oz and things got funky in the world of physical silver! 

The dip below $15.00 per ounce in Silver sparked a huge demand for physical silver nationwide by private buyers and institutions alike. Causing  silver coins and bars to quickly become in short supply. Adding to issue of Silver in Short Supply, was the fact that just a week and a half earlier to the drop below $15.00/oz, the United States Mint exhausted it’s stock of the extremely popular Silver American Eagle Coins, and suspended sales until they could mint more to fill existing order and replenish it’s stock. This shortage of Silver Eagle Coins created even more demand for the grey metal as the spot silver price continued to fall.

So the result of Silver in Short Supply over the past few weeks has been delayed delivery times for all mainstream .999 silver products. Silver American Eagles, Canadian Silver Maple Leafs, 1oz Silver Rounds and 10oz Silver Bars are currently back ordered up to 3-4 weeks, although the situation is fluid and delivery times may change as producers rush to get product to market .

We fully expect this situation of Silver in Short Supply to resolve soon, and premiums and delivery times to return to normal soon. Contact San Diego Coin or La Jolla Coin for updates on the silver situation,  and for current pricing and availability of physical silver products.  You can track up to the minute spot precious metals prices on our websites;

sandiegocoin.com

lajollacoin.com

Thank You!!!

 

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