Silver situation update from Stefan Gleason... (May 2021)
Before we head into the long Memorial Day weekend, I wanted to provide a quick update on the inventory situation in the retail silver market.
Money Metals Exchange remains well stocked in comparison to our major competitors – with no shipping delays on popular items.
Although demand remains very strong, it has receded somewhat in the past three weeks. This cooling has enabled Money Metals to reduce premiums on silver bars and silver rounds in particular.
Premiums on Silver Eagles remain very high as a result of the U.S. Mint's production halt in preparation for release of its new design in July. We generally suggest customers steer clear of Silver Eagles in favor of lower premium silver coins, bars, and rounds.
In fact, we are eager to buy your Silver Eagles and will pay $6.50 per ounce over spot. This is WAY more than any competitors will pay, as is generally the case with Money Metals' buyback pricing.
As always, Money Metals' website is open for business around the clock, 7 days a week. However, our office will be closed on Monday in observance of the holiday.
Stefan Gleason, President
Money Metals Exchange