We are going to keep you informed on a weekly basis about the latest developments regarding delivery times. As already discussed, due to the recent increase in demand for physical precious metal, the waiting time has risen sharply. In this update we will update you on the current situation in the market and expected delivery times.
Due to an increased demand for coins and bars, delivery times to our suppliers have also increased. We can report positive developments in this area. For example, the large smelters in Switzerland are in talks with local authorities about restarting production. More than a week ago, several smelters had to shut down production because of the corona virus.
These smelters are a key link in the global gold market as they refine and remelt large volumes of gold. Not only do they melt the large 400 troy ounce gold bars into smaller gold bars, they also process demolition gold and impure gold from the gold mines. When these smelters go back into operation, this can considerably relieve the pressure on the gouden munten.
Due to the increased demand for coins and bars, delivery times have increased considerably. As a result, premiums have also increased somewhat, although we can see large differences here. If you want to get the precious metal quickly, you pay a much higher premium for it than if you are willing to wait longer for your order. We expect that smelters and mint houses will increase their production and that this will reduce the shortage in the market over time. As a result, the premiums on coins and bars will also decrease over time. For the time being, we see no reason to pay a much higher premium for your precious metals.
What delivery times do we expect?
The gold bars we sell are produced by smelters in Germany. Due to a strong increase in demand, long delivery times have arisen here. You can now order gold bars from us again, but the expected delivery time is 6 to 8 weeks.
Gold coins come from mint houses in the United States, Canada, Austria, Australia and other countries. Delivery times for these products depend on the production capacity of the mint houses and the availability of transport capacity. Due to the enormous demand you cannot order gold coins from us at this moment. Have you recently placed an order for gold coins? Please take into account a delivery time of 4 to 8 weeks.
Silver bars are sold less often because of the VAT rate of 21%. You can order these bars, the delivery time is about 4 to 6 weeks. Silver in combination with storage in Switzerland is better available, especially the silver bars of 1,000 troy ounces. These bars can be purchased for you within 2 to 3 weeks.
The demand for silver coins has also risen enormously lately. This week we received a new shipment of silver coins from various years. These coins are available immediately, as long as stocks last. For new coins and all other silver coins from our assortment we expect a delivery time of 8 to 12 weeks.
Selling precious metals?
Do you want to sell your precious metals? Please contact us by phone or e-mail for an attractive offer.
In our previous update we made a distinction between orders placed before and after 15 March. Orders placed before that date have already been delivered or will be delivered on short notice. For new orders the delivery times as mentioned above apply. We still do not take orders for platinum and palladium. Open orders will of course be delivered, but longer delivery times than normal also apply here.
Finally, we would like to inform you about the fact that our delivery service will no longer deliver Mikropakket on Saturdays in the near future. This because of measures against the coronavirus. Therefore delivery on Saturday is currently not possible. Source: https://www.europesegoudstandaard.be