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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. Smelters have restarted production and are working to clear the backlog, while several mints have halted or reduced production due to the coronavirus. As a result, the availability of investment coins in particular is still very limited. We are still able to place orders at the mints of Australia and the United Kingdom. We can also order gold Krugerrand and Maple Leaf coins again. 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 expects all gold bars within three to four weeks to be able to deliver it. For gold bars of Umicore, the expected delivery time has been reduced to four to six 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 and the British Queen's Beast can be found in 1 to 2 weeks deliver. We can also order gold Krugerrand and Maple Leaf coins again, the delivery time for these investment coins is three weeks. For other gold coins, we still take into account a delivery time of 4 to 8 weeks.
Tip: The Gold Philharmoniker coins of 1 troy ounce are currently Well in stock and therefore immediately available.
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 high demand for coins and temporary closure of several mints due to the coronavirus. Therefore, we are currently unable to order many coins from our suppliers.
Currently, the silver 2 troy ounce coins from the Royal Mint's Queens Beasts series are the fastest available. We expect these within 1 to 2 weeks. The silver Kangaroo coins can also be ordered, for these coins we expect a delivery time of three weeks.
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. Our Mikropakket delivery service will no longer deliver on Saturdays in the near future as a measure against the coronavirus. Also on Tuesday 5 May, no packages will be delivered due to Liberation Day.
Finally, we would like to report that shipping orders from our logistics center may take longer due to the large number of orders. As a result, shipping may currently take a few days longer than you are used to from us.
