Update #9: Delivery times for gold and silver

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 availability of gold coins has improved again. Various gold coins are available from stock again. The coins that we do not have in stock can generally be delivered within two weeks. Smelters are clearing the backlog, which means that the availability of gold bars is also improving. Our suppliers expect to have cleared all backlogs by the beginning of June. For new silver coins, the expected delivery time is 4 to 6 weeks. Below you can see the current indication of the delivery times for new orders.

Why have delivery times increased?

1. Logistical constraints

Due to the measures against the coronavirus, there are still restrictions on the free movement of goods, especially internationally. Many planes are grounded, which means there is less capacity to transport precious metals. As a result, it takes longer for suppliers to get new stock to deliver. We notice this especially with the delivery of silver coins from different countries. Normally, these are transported by road, but due to the strict corona measures, this is not always possible. As a result, we currently receive few coins from our suppliers.

Which products does this affect? All silver coins.

How long will this take: That depends on the restrictions that various countries and international organizations have imposed on air traffic and international transport.

2. Delay in production chain

C. Hafner, a major supplier of gold bars, has announced that the production of gold bars has been delayed due to a shortage of packaging materials. The packaging of its gold bars originates from Italy and its producer was temporarily closed due to the coronavirus. As a result, there is a shortage of packaging material, which means that C. Hafner is not yet able to deliver all gold bars.

Which products does this affect? All gold bars of C. Hafner

How long will this take: That depends on the relaxation of the corona measures in Italy. We expect that this problem will be solved within two weeks and that the gold bars can be delivered at the beginning of June.

3. Mints temporarily closed

Due to the coronavirus, several mints had to close their doors temporarily. At the same time, the demand for silver coins has exploded. This has created long queues that must first be cleared. Waiting times vary from one mint to another, because not all mints have been closed for the same amount of time. Also, coins are in higher demand from some mints than others.

Which products does this affect? All silver coins, especially the Canadian Maple Leaf

How long will this take: We already receive regular deliveries of silver coins, but not enough to deliver all orders immediately. For many coins, the expected delivery time is 3 to 6 weeks.

4. Limitations of the logistics centre

Due to the large number of orders in recent weeks, it may take longer before we can ship your orders from our logistics center. Due to the coronavirus, only a limited number of people can work in the vault room. As a result, the actual shipment of your order may take a few days longer than you are used to from us.

Which products does this affect? All Orders

How long will this take: We are in the process of clearing the peak of all orders and expect that all orders delivered in the next two weeks may be slightly delayed.