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We will keep you informed on a weekly basis of the latest developments regarding delivery times. As discussed earlier, due to the recent increase in demand for physical precious metals, the waiting time has increased sharply. In this weekly update, we update you on the current situation in the market and expected delivery times.
Compared to a week ago the situation in the market has not changed much. The smelters in Switzerland have restarted production, but some mints are shutting down production. Two weeks ago, South Africa's mint closed and last week it was announced that the US Mint had to temporarily close its production facility in New York due to the coronavirus. The Royal Canadian Mint is closed, but plans to restart production soon. This means that the delivery times of gold and silver Maple Leaf coins will remain long for the time being.
However, we are also seeing the supply of other investment coins slowly picking up again. For example, we currently have a limited stock of small gold coins with weights of a half, a quarter and a tenth of a troy ounce. We can also place orders again at the mints of Australia and the United Kingdom. Below you can see the current indication of the delivery times for new orders.
The gold bars we sell are produced by smelters in Germany. Due to a sharp increase in demand, long delivery times have arisen here. However, many gold bars are already being delivered. Smelter C. Hafner has informed us that they have all gold bars within three to four weeks can deliver. For gold bars of Umicore the expected delivery time is six to eight weeks.
Gold coins come from mints in the United States, Canada, Austria, and Australia, among others. The delivery times for these products depend on the production capacity of the mints. The Australian Kangaroo, Austrian Philharmoniker and the British Queen's Beast can be found in 1 to 2 weeks deliver. For other gold coins, we still take into account a delivery time of 4 to 8 weeks. It Golden tenner is at the time of writing Available from stock, while stocks last.
Silver bars are sold less often due to the VAT of 21%. At the moment we can supply silver bars of the brand Remondis in limited quantities. These have an expected delivery time of one to two weeks. These silver bars, like the bars of Umicore LBMA certified.
Silver bars in combination with storage in Switzerland are currently readily available, as expected within 1 to 2 weeks. Please contact us by phone or email for current delivery times.
For most new coins, we still expect delivery times of 8 to 12 weeks. This is due to the production problems at several mints as a result of the coronavirus. The fastest available are the silver Kangaroo coins and the silver 2 troy ounce coins from the Queens Beasts series of the Royal Mint. We can do these within 2 to 3 weeks delivery.
Do you want to sell your precious metals? Please contact us by phone or e-mail for an attractive offer.
We are still not taking orders for platinum and palladium. Of course, we deliver outstanding orders, but there are also longer delivery times than usual. Finally, we would like to reiterate that our delivery service Mikropakket will no longer deliver on Saturdays in the near future. This is due to measures against the coronavirus. As a result, Saturday delivery is currently not possible.
