From Texas Precious Metals email. They are clearly trying to sell product but it shows how the precious metals market is ill-equipped to handle this panic. Something to consider if you are holding precious metals for just this kind of scenario.
As of this morning, the United States Mint is out of Silver American Eagles, and the backlog is tremendous. To ramp up manufacturing production to meet demand will likely take weeks, if not months.
The effects of these events will cause an increase in premiums on the sell side as well as the buy side. We have begun raising premiums on products to compensate for supply/demand constraints. To put it simply, inventory is getting more expensive for us. Additionally, we will be raising our buy back prices aggressively on popular products to help offset demand.
We have been aggressively buying hundreds of thousands of ounces of silver to create a pipeline of future supply. Some of this inventory will hit our facility next week. When these products arrive, we will make them available to you and announce this availability via email. We will sell them on a first come, first serve basis. Expect products to move quickly as investors seek a safe haven for assets during this uncertain time.
**see update below **