Everyone is aware of the ongoing situation with the Covid-19 pandemic and the impact it's had on every aspect of day to day life. Precious metal prices didn't escape this either.
Where the precious metals, most particularly gold, tend to attract investors looking for a safe haven during market volatility, the fear induced by Covid-19 as it first began to appear outside of the APAC region was such that many chose to liquidate their assets. This led to a slump in precious metal spot prices that mimicked the rest of the market.
Demand across the market didn't wane however. Indeed the opposite happened and soon there was a distinct lack of product available. Demand outweighing supply resulted in high premiums and this left many potential investors baffled at the discrepancy between low spot prices and high retail prices. The unfortunate reality for us being that we're buying no where close to spot price either (and that's when we can source product at all.) The mints deal with a few select distributors (very few.) Those distributors sell to authorized retailers, of which we're one. In the grand scheme of this chain, it's unlikely that your small local coin dealer is the one charging you high premiums.
Those of you who have shopped (or browsed) our website for a while will know we have gone from offering a wide selection of silver, gold & platinum bullion products, to very little available.
What are the options if you are wanting to expand on your physical investments?
Pre-orders are now open again on the SilverTowne Mint replica buffalo rounds and bars. These are by far the most economical option for stacking that we have. Silver Eagles in particular are still commanding high premiums and as of today, nothing else is available to buy.
We have no spend requirement as we strongly feel you should be able to invest at a pace and rate to suit you. That said you can access discounts when shopping 20 + or 100 + 1 oz silver rounds.
These are pre-orders though and we're expecting to ship in 1-2 weeks.