Dear customers,

I would like to offer you one final update for the week.

Before I begin, my team has requested that I send a big ’Thank You’ to all of you who have called in this past week. In the midst of a very challenging week, with slower-than-usual response times, changes to billing and shipping methods, out-of-stock inventory, and other inconveniences - in what is admittedly a stressful time for many people - nearly every customer has been gracious, patient, accommodating, and diligent in providing information. We appreciate y'all. Personally, I want to especially recognize our accounting manager, Kris Hauptman, who has been working day and night (sometimes until 4am) taking personal responsibility for processing all of your payments. Thank you Kris!

Big Picture

As we suspected, more states are implementing shut-ins by the day, with New York and California being the two biggest and most recent. Of significant consequence to the precious metals industry was the revelation this morning that The Royal Canadian Mint - one of the largest suppliers of precious metals coins and bars to the United States - is shutting down operations for at least two weeks. The effects of this shut down to available supply in the market cannot be understated. With new supply from Europe already cut off, and the enormous volume of forward selling domestically, there is almost no physical supply left in the market, and there won’t be for weeks. I wrote this week about the demand shock in the industry. We now have a supply shock.

Inventory and Premiums

With supply chains cut off, and unprecedented demand, we are now paying historic premiums to acquire new material to satisfy even a fraction of the immediate demand. We have been active and aggressive buyers in the marketplace, but we simply cannot buy enough material. As I wrote in my article, Demand Shock, this is the direct cause of historic premiums. If you are looking to speculate in the precious metals market with physical bullion, the current premiums make it less efficient than buying a Silver ETF in a brokerage account. On the other hand, if you want physical metal outside the financial markets, the cost of acquisition is now high for everyone - dealers included.

A full list of our forthcoming inventory is indicated below. We have been awaiting this inventory while in transit before making it available for sale. We will offer the full allotment of 125,000 Silver American Eagles to our clients next week, after which point we will have no more supply and will not be able to secure any more in volume for the foreseeable future. We will also offer an additional 50,000 ounces of various silver products, and a little over 1,000 ounces of gold. These products will be made live for purchase Monday morning, March 23rd.

We will announce these products via email on Monday. To set up alerts for particular products, please refer to this link: https://www.texmetals.com/how-to-be-notified

Shipping **IMPORTANT UPDATE**

Our vault team has been feverishly shipping packages all week, including those originally designated for temporary storage. In discussions with our leadership group, the consensus from the team was that we ought to ship, ship, ship until we are told to stop by the government. Therefore, we are pushing out every order we can, reversing the announcement I made last week to temporarily hold orders in storage. Effective Monday, in the online checkout, you will again be able to select your shipping destination. If we are forced to shut in, we will hold all new orders in the depository free of charge until we can again ship.

To help accommodate the need for speed, we will make one adjustment to payment methods until further notice: we will accept payment by bank wire, credit card, and ACH (Electronic Check) only. We will not accept online bill pay or personal checks because of the time lag in receiving and processing those payments. For more information about setting up ACH payments, please click here: https://www.texmetals.com/ach

A Request

We anticipate call volume to be extremely high next week. If you are able to place your orders online and correspond via our contact form (which we monitor closely), we would greatly appreciate it. It would help to free up the phones lines for customers needing special assistance.

Have a restful, safe, and germ-free weekend!

Tarek Saab, President
Texas Precious Metals

INBOUND INVENTORY

Monday, March 23rd:
200 - Gold Krugerrands
250 - Gold Britannias
200 - Perth Mint Gold Lunar Series - Year of the Mouse
100 - Gold American Eagles
100 - Gold Kangaroos
50 - Gold Texas Rounds
500 - 1/10 oz Gold Kookaburras
14 - Pamp Suisse Gold Bars (5 oz)

Tuesday, March 24th:
125,000 - American Silver Eagles (2019s)
25,000 - Silver Buffalo Rounds (Private Mints)
5,600 - Perth Mint Silver Coins
$10,000 Face Junk Silver (7,150 ozs)
440 - 10 oz Texas Mint Silver Bars (4,440 ozs)
1600 - 2 oz Perth Mint Silver Crocodile Coins (3,200 ozs)
1200 - 2 oz Perth Mint Silver Koala Coins (2,400 ozs)

Tuesday, March 31st (estimated)
1,000 - 10 oz Texas Mint Silver Bars
10,000 - 1 oz Texas Mint Silver Bars
2,000 - 1 oz RCM Voyager Silver Coins
5,000 - 1 oz Royal Mint Silver Britannias
1,250 - 2 oz RCM Mountain Patrol Silver Coins (2,500 ozs)

300 - 1/2 oz Gold American Eagles
300 - 1/4 Gold American Eagles

April 4th:
100,000 - 1 oz Texas Silver Rounds (2020)