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.