This week we are proud to celebrate our 10-year anniversary, and over the coming months we look forward to celebrating this milestone with you. Never in those ten years have we ever experienced the challenges and unprecedented spike in volume that we have experienced over the past week – not even during the Covid crisis. The news of the attempted silver short squeeze has been well-reported and has driven historic demand during a period in which inventories have not yet fully recovered from supply chain disruptions.
Our order volume is up 11x normal in the past week.
While prices in the precious metals market are closely tied to the financial markets, the business of supplying physical metal to buyers is fundamentally a manufacturing business. Sourcing gold or silver is not a constraint; manufacturing those metals into finished goods is the bottleneck. Manufacturers simply cannot scale up to meet a 1000% increase in demand. This creates an environment where premiums rise and supply is limited.
For dealers like Texas Precious Metals, unmanageable call volumes spike almost overnight. Our shipping department becomes inundated with orders far beyond what can reasonably be processed. Shipping in the metals industry involves multiple checks and dual controls, testing of inbound materials, and recording of all outbound packages. The process is not as simple as processing an ordinary online item.
During the most recent crisis in March/April of 2020, when the industry faced similar conditions, we took certain steps to alleviate operational burdens, such as raising order minimums. It was a difficult decision to make, and created an environment whereby those who could not afford larger ordering thresholds were unable to purchase.
This time, in an effort to continue servicing these smaller clients, we instead made the unprecedented decision to lift our three-day shipping window and extend expected shipping times to accommodate as many as possible. It is important to note that we only sell products that we have in stock or that are physically in transit to our facility. We do not forward sell material that we do not have. We are processing massive volumes of inbound and outbound material on a daily basis, with the team working long hours to get packages shipped out the door.
We sincerely appreciate your patience and understanding as we work to treat every customer with the appropriate level of attention. We thank you for your business and your trust, and we are working aggressively to source more products and replenish inventories. For a list of our “IN-STOCK” products, you may click on of the links below.