Brad Hall
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March 17, 2020
An Explanation of Rising Premiums
Most of you are now aware that the inventory of most precious metals dealers has evaporated. Premiums on common products have skyrocketed. I am writing this to offer some insights into these price changes so that you can make informed decisions. I will use the US Mint as the proxy for all mints.
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March 12, 2020
Dear TPM Clients,
As you all know, the effects of coronavirus (COVID-19) have accelerated what is now a precipitous decline in equities. Access to liquidity in the markets has become an issue, and all asset classes are being affected - including precious metals. This historic turn of events has created a demand shock in the physical precious metals industry. Following years of slow to moderate sales following the Greek crisis in 2015, the entire industry has been cautious to build large inventories. This includes the United States Mint, which experienced a terrible production decline of Silver American Eagles, down to only 14.9M ounces minted in 2019.
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August 28, 2017
Dear TPM Customers:
Due to the continued adverse weather conditions affecting our area, we will be closing our offices on Monday, August 28th. At the present time, we anticipate reopening on Tuesday, August 29th if weather conditions improve as anticipated.
We want to thank those of you who have written offering your thoughts and prayers during this difficult time. We feel very fortunate that we may have escaped the worst of it, but flooding and power loss in our area is significant. Thankfully, our employees are all well. Areas directly along the coast have been ravaged, and Houston continues to receive a deluge of rain, as I am sure you have seen reported on the news. Please keep those families in your prayers.
Our ordinary course of operations will be affected for at least the coming week. We ceased all metal shipments on Thursday, and we do not expect to resume shipping until Wednesday at the earliest. Many of the roads are no longer navigable for UPS. As you know, we take great pride in shipping quickly, but customer shipments will be delayed during this week. We will ship out all orders as soon as it is safe to do so.
There will be no customer support by phone until Tuesday the earliest, and incoming payment confirmations will be delayed by at least one day. We will continue to respond to inquiries via email in the interim, and we will work to answer those inquiries as expeditiously as possible.
Normal online trading will remain available 24/7.
We apologize for any inconvenience during this time and we thank you again for your prayers and well wishes.
Sincerely,
Tarek Saab
President & Co-founder
Texas Precious Metals
959 St Hwy 95N
Shiner, Texas 77984