Inbound Inventory Schedule + Update

Inbound Inventory Schedule + Update

 

INBOUND INVENTORY SCHEDULE (*****UPDATED MARCH 19th, 2020*****)

The products and quantities below will be made available for sale upon arrival at our facilities. We are not pre-selling these items. The dates below are estimated arrival dates:

Monday, March 23rd:
200 - Gold Krugerrands
250 - Gold Britannias
200 - Perth Mint 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 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 Coins
5,000 - 1 oz Royal Mint Britannias
1,250 - 2 oz RCM Mountain Patrol 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)

These dates are estimates and subject to unforeseeable delays. We are working hard to source more gold for immediate delivery.

MARCH 17th UPDATE

I want to send a BIG thank you to all of our customers who watched my video update from Sunday night and expedited payment to us! Y’all are great. Thank you so much for your patience as we work through an unprecedented volume of orders and payments. We will be pulling a large batch of your ACH payments on Tuesday, March 17th, and expediting shipments this week.

Since publishing the video, we have decided to extend our shipping days this week through Friday, March 20th, to ensure that we have time to push all of your orders out the door. We are working day and night to make this happen for you. Many of you sent in questions in response to my video, I would like to take the opportunity to answer a couple of them now.

I SEE MANY PRODUCTS OUT OF STOCK. DOES THIS MEAN MY ORDER WILL BE DELAYED?

Not at all. When inventory is purchased, it is set aside for you (the buyer). We do not oversell the stock in anticipation of future deliveries. We sacrifice millions of dollars in sales because of this policy, but we gain peace of mind and the confidence of our customers.

WHY IS THIS YOUR LAST WEEK OF SHIPPING? WHEN WILL YOU RESUME SHIPPING? YOUR VIDEO WAS UNSETTLING! ARE YOU GOING OUT OF BUSINESS?

Certainly not! My intent with the video was not to frighten customers. I do realize that our decision to curtail shipping operations after this week was abrupt. The decision has nothing to do with the strength of our business (like most dealers, we are having a record year)! We are also backed by a 122-year-old South Texas conglomerate with a large balance sheet. We are financially very strong and very liquid.

A big part of the job of the management team is to anticipate challenges and react accordingly. Like many companies, we are confronted with numerous disruptions as the economy grapples with coronavirus mandates from the government. As it stands, we are not able to receive new inventory from Europe. Canada has closed borders to non-Americans, and is considering further lockdown. A complete lockdown of the border would hinder deliveries from the Canadian Mint in coming weeks. The San Francisco Bay area has just been ordered to shelter in place until April 7th. Dallas, New York, and Los Angeles have ordered the closure of all dine-in restaurants, bars, gyms, and theaters. The same is occurring in other states. Meanwhile, the coronavirus case count is growing.

As the president of Texas Precious Metals, I need to account for two very possible outcomes: 1. As a non-essential service (as defined by the government), we soon may be required, like other businesses, to work from home. In that scenario, as a business that relies heavily on technology, we can continue to facilitate communications, both online and by phone, accept digital payment transfers, and even continue to sell inventory, but we cannot ship products under those circumstances and bring our employees to our logistics facility. 2. The mints, refiners, and other supply chain partners could just as easily find themselves beholden to these same constraints, depending on jurisdiction. While uncertain, it seems likely to us that coronavirus will constrain production to some degree, and the industry is already seeing a 4-5 week backlog as it is. We do not wish to get caught up in that maelstrom and the prolonged shipping delays that would ensue.

In discussions with the team, we have decided to remain ultra-conservative with our approach to this crisis: anticipate the worst, hope for the best. If we are fortunate enough avoid restrictions for another week, two weeks, or indefinitely, we will adjust our shipping restrictions and communicate them to you immediately. We certainly would prefer to avoid disruptions to the business. In the meantime, we feel it is prudent and sensible for all involved to hold all new orders (those placed after March 16th) in our depository until this tempest passes. To accommodate new depositors, we will not charge storage and insurance fees in the months of March and April (we will absorb that cost), and we will honor free shipping when operations return to normal for any customer deposits held less than 90 days in the facility.

As new inventory arrives in stock, we will temporarily make Texas Depository the only shipping option. If you are interested in new metals as they becomes available, please open a depository account online here: Texas Depository

We greatly appreciate your consideration, understanding, and patience.

Sincerely,

Tarek Saab

President, Texas Precious Metals

  • Posted on March 17, 2020
  • By TPM
  • General

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