Market Updates

General Updates

Last updated 7 hours ago.

Operational Changes

In an effort to serve as many customers as efficiently as possible, we've made some temporary changes.
  • We may be unable to provide service without an appointment. We will continue to serve walk-in customers as efficiently as possible.
  • Credit and debit card payments are suspended.
  • We have increased cash acceptance limits, though payments over $10,000 require IRS Form 8300 reporting.
  • We are currently unable to process online or phone orders for less than (3) ounces of gold or (50) ounces of silver.
    • There is no minimum for in-store orders, but we may be unable to accept appointments to purchase smaller quantities at this time.
  • We may be unable to quote or fill small quantity orders for specialty items.
  • We may charge a processing fee of $25 for small quantities of certain items if not already in stock.

Gold

Last updated 7 hours ago.

For Buyers

  • Common 1oz Products: These remain readily available. Any delays are more attributable to receiving backlog than scarcity.
    • We are able to fill orders within 1-2 business days, though lower pricing is typically available with 4-7 business day fulfillment time.
  • Fractional Gold: Fractional bar availability is limited but expected to improve in March. Fractional coin availability remains moderately strong.
    • We are currently able to fill orders for some fractional bars for delivery in 4-6 business days, and have limited product in stock.
  • Kilo Gold Bars: Availability has recently become more limited, but we can fill orders for LBMA Good Delivery brands.
  • Large Orders: We can still fill orders exceeding 100 ounces, with free or low-cast armored delivery on qualifying orders. 
    • Fulfillment times range from same day to 7 business days depending on product.

For Sellers

  • We maintain the ability to lock prices on gold bullion as well as scrap material. Bids may temporarily be 1-2% lower.
  • We will continue to attempt to purchase gold in any quantity. Until conditions return to normal, we are evaluating purchases of over 15 troy ounces on a case-by-case basis.
What's happening?

On January 26, Metalor announced a temporary halt on accepting new scrap metal shipments for 5-10 business days and outgoing advance payments, citing "highly constrained lending environment," inventory backlogs, production limits, and storm damage to its U.S. refinery. 

Additionally, the largest secondary precious metals wholesaler in the U.S. recently suspended all price locks and instituted a 7-10 days payment delay on gold settlements. Other major refiners including United Precious Metal Refining have announced pauses.

These developments, along with extreme market volatility including a historic correction on January 30, have caused many other precious metals dealers to limit or completely pause the purchase of gold in any form.

Silver

Last updated 7 hours ago.

For Buyers

  • Common 1oz and 10oz Products: 1oz rounds and 10oz bars remain readily available. Any delays are more attributable to receiving backlog than scarcity.
    • We are able to fill orders within 2-3 business days, though lower pricing is typically available with longer fulfillment times.
  • Fractional Products: Fractional coin and round availability is limited.
    • We are currently able to fill orders for some fractional bars for delivery in 4-6 business days, and have limited product in stock.
  • Kilo Silver Bars: Availability is limited, but we can fill orders for LBMA Good Delivery brands with a wait, including freshly minted products.
  • Large Orders: We can fill orders exceeding 5,000 ounces, with free or low-cast armored delivery on qualifying orders. 
    • Fulfillment times range from same day to 7 business days depending on product.

For the fastest fulfillment times, we currently recommend 10oz bars, American Silver Eagles, or Canadian Silver Maples.

For Sellers

  • We are temporarily only purchasing the silver products which show a bid on our Silver Bids page.
  • We do not recommend selling silver in the current environment.
  • Sales involving 500 or more individual pieces may require a 1-2 processing delay.
  • We are working to secure suitable options for price fixes and settlement terms which allow us to buy all alloyed (impure) silver and .999 silver products. Until such time, we have suspended the purchase of all impure silver, including sterling silver and U.S. coinage, and all .999 silver except for select sovereign mint coins and bars LBMA Good Delivery brands.

What's happening?
  • Most silver refiners are either not accepting material or quoting months-long processing delays with refining fees as high as 15%.
  • Many refineries and even some wholesaler buyers have suspended the ability to lock prices prior to settlement, exposing dealers to extreme volatility for weeks after the purchase of material.
  • Our distributor and secondary market wholesaler partners, overwhelmed by unprecedented selling, are quoting 4-6 week payment times.
  • Some secondary market wholesalers have fully suspended the purchase of all material in order to work in an effort to clear their backlog.
These developments, along with extreme market volatility including a historic correction on January 30 in which the silver spot price dropped 30% in two hours, have caused many other precious metals dealers to limit or completely pause the purchase of silver in any form.