Insider update on silver...
We continue to see dramatic demand for physical silver silver coins, bars, and rounds – and a tremendous inflow of new precious metals investors.
Here's a quick update on what we're seeing from our perch as one of the largest dealers in America...
In the past month, there has been high interest in the silver story – its growing industrial uses, its growing investment demand, and the pre-existing bullish posture of the silver market itself.
But despite the continuously high demand, true silver shortages haven't emerged... yet.
That said, it's still a mad scramble to keep inventory on the shelf – and the silver supply situation is highly tenuous. On top of that, recent weather issues in many areas of the country have slowed the transportation of metal.
We are also now beginning to see some supply issues emerge in gold products, particularly fractional coins and bars.
Most other dealers are already wiped out of silver bars and rounds – or they are quoting ridiculously long lead times for fulfilling customer orders.
Yet Money Metals has so far been able to keep all popular silver items in stock while shortening or eliminating delivery delays.
And we've been able to drop our premiums on many items this week.
Money Metals' high capitalization levels, strong sourcing relationships, and efficient in-house fulfillment operation are proving once again why Money Metals has been named best overall precious metals dealer in the U.S. by Investopedia!
As to silver coins, the best deals right now are on pre-1965 dimes/quarters, Silver Britannias, and Silver Philharmonics.
Meanwhile, we aren't seeing overall tightness on 1,000 oz silver bars so far – mainly some logistical issues involving the location of available supply. But again, the silver supply situation is tenuous.
If the outflow of silver through the retail minting channel continues at this rate for a few more weeks, that is likely to put real pressure on the availability of commercial bars as well as silver grain for minting.
Let me assure you that Money Metals staff is working long hours to ship out the overwhelming number of orders flying in. We've hired up, and fulfillment delays are currently limited.
Silver is a little over $27 this morning. The key area to watch continues to be the $30 to $31 range, as a decisive break above those levels would point to a big rally ahead.
That's all for now, except to say THANK YOU for the opportunity you to serve you!
Stefan Gleason, President
Money Metals Exchange
P.S. For more info on what's happening in the physical silver market, please go here for up-to-the-minute precious metals news.