Mint running low on silver
- Thread starter mrsat_98
- Start date
Original_Intent
Member
- Joined
- May 18, 2007
- Messages
- 9,381
Gold to Silver ratio is over 104:1! (or I guess 1:104) Crazy!
Epic clubbing of the paper spot prices ongoing. What it really means is get physical while you can because the paper game is unwinding. Many have said that when the paper game ends, "spot" prices will fall to practically zero as all of the paper that set the spot price is liquidated/settled/etc, physical metals will become "priceless" (no spot price but also unobtainable) and later revalued to their true fiat denominated value.
Last edited:
- Joined
- Jul 13, 2007
- Messages
- 62,326
Spot $14.55, physical $18.05...
RonZeplin
Member
- Joined
- Apr 1, 2011
- Messages
- 4,512
Email from JM Bullion - System Swamped, Stock Depleated, $299 minimum order
A Message From [TABLE="class: x_-706943418wrap97, align: center"]
[TR]
[TD="class: x_-706943418wrap1, align: left"][/TD]
[/TR]
[TR]
[TD="class: x_-706943418wrap2, align: left"]JM Bullion.[/TD]
[/TR]
[TR]
[TD="class: x_-706943418wrap3, align: left"] We wanted to provide our customers with important updates about our company, including a new temporary $299 minimum order, as well as the overall state of the industry.
Over the last few weeks, we have seen record order volume, with yesterday being our largest sales day of all time. We are on pace for another record day today. As a business, we are doing everything we can to keep up, but with a 2-3x increase in order volume, we are unable to answer our phones and ship orders as quickly as usual. Additionally, orders are taking longer to ship, and phone wait times are longer than normal. You can expect temporary shipping delays of 5-10+ business days while we scale up our operations to satisfy this unprecedented level of demand.
Please note this does not impact your orders in any other way. All orders are locked in upon placement, and as always, customers can place orders online 24/7 as well as see their latest status updates in the My Account area of our website. For order status updates, we ask that you first check the website to keep our phone queues as reasonable as possible.
The increase in demand is also beginning to strain supply chains, with the US Mint announcing yesterday that American Silver Eagles have temporarily sold out. We expect to see ripple effects at other suppliers and mints in the coming weeks. As always, everything listed as “in stock” on our website is inventory under our control and ready to ship. For items listed as “presale,” we have firm orders placed and shipments incoming.
What are we doing about it?
On Monday, we’re adding new hires to significantly expand our customer service and sales teams, as well as adding a 2nd shift at our distribution center. All company divisions have authorized overtime for the past two weeks and will continue to do so moving forward, including weekends as needed.
That being said, we simply cannot ship the orders as fast as we'd like, and have decided to make a temporary change to our order policies. Effective today, we are implementing a $299 minimum order threshold. All orders above the $299 threshold will continue to ship free.
Please understand we did not take this decision lightly, but felt this was a better alternative to more aggressive approaches such as significantly raising product premiums, or even to stop accepting orders altogether.
We understand the importance of customers being able to lock in pricing during highly volatile times, and will do everything we can to continue providing the highest level of customer satisfaction. We want to stress this is a temporary measure and will only last until our shipping times normalize.
Lastly, we’re closely monitoring the impact of the Coronavirus and taking steps to prepare our business and protect our employees, should the spread worsen. All critical business systems are cloud-based, allowing employees to work from home and avoid widespread service disruptions in a worst-case scenario.
As always, we thank you for your business, and greatly appreciate your patience during this time.
[/TD]
[/TR]
[/TABLE]
A Message From [TABLE="class: x_-706943418wrap97, align: center"]
[TR]
[TD="class: x_-706943418wrap1, align: left"][/TD]
[/TR]
[TR]
[TD="class: x_-706943418wrap2, align: left"]JM Bullion.[/TD]
[/TR]
[TR]
[TD="class: x_-706943418wrap3, align: left"] We wanted to provide our customers with important updates about our company, including a new temporary $299 minimum order, as well as the overall state of the industry.
Over the last few weeks, we have seen record order volume, with yesterday being our largest sales day of all time. We are on pace for another record day today. As a business, we are doing everything we can to keep up, but with a 2-3x increase in order volume, we are unable to answer our phones and ship orders as quickly as usual. Additionally, orders are taking longer to ship, and phone wait times are longer than normal. You can expect temporary shipping delays of 5-10+ business days while we scale up our operations to satisfy this unprecedented level of demand.
Please note this does not impact your orders in any other way. All orders are locked in upon placement, and as always, customers can place orders online 24/7 as well as see their latest status updates in the My Account area of our website. For order status updates, we ask that you first check the website to keep our phone queues as reasonable as possible.
The increase in demand is also beginning to strain supply chains, with the US Mint announcing yesterday that American Silver Eagles have temporarily sold out. We expect to see ripple effects at other suppliers and mints in the coming weeks. As always, everything listed as “in stock” on our website is inventory under our control and ready to ship. For items listed as “presale,” we have firm orders placed and shipments incoming.
What are we doing about it?
On Monday, we’re adding new hires to significantly expand our customer service and sales teams, as well as adding a 2nd shift at our distribution center. All company divisions have authorized overtime for the past two weeks and will continue to do so moving forward, including weekends as needed.
That being said, we simply cannot ship the orders as fast as we'd like, and have decided to make a temporary change to our order policies. Effective today, we are implementing a $299 minimum order threshold. All orders above the $299 threshold will continue to ship free.
Please understand we did not take this decision lightly, but felt this was a better alternative to more aggressive approaches such as significantly raising product premiums, or even to stop accepting orders altogether.
We understand the importance of customers being able to lock in pricing during highly volatile times, and will do everything we can to continue providing the highest level of customer satisfaction. We want to stress this is a temporary measure and will only last until our shipping times normalize.
Lastly, we’re closely monitoring the impact of the Coronavirus and taking steps to prepare our business and protect our employees, should the spread worsen. All critical business systems are cloud-based, allowing employees to work from home and avoid widespread service disruptions in a worst-case scenario.
As always, we thank you for your business, and greatly appreciate your patience during this time.
[/TD]
[/TR]
[/TABLE]
