US Mint Delays Silver Shipments Due to “Global Silver Shortage”

(May 28th, 2021 - Tyler Durden , ZeroHedge)

Interest in silver is increasing (both for industrial use and for financial investment), echoing the 2013 crisis, What a recent report from the Silver Institute, Demand for silver for printed and flexible electronics is projected to increase 54% over the next 10 years.

Silver demand in this rapidly developing sector is forecast to be 48 million ounces this year. By 2030, demand is expected to increase to 615 million ounces.

And silver prices are back near recent highs as debt is monetized.

According to the New York Times, the US Mint even increased its coin production in mid-2020 after the coin shortage in the US was reported as a result of the coronavirus pandemic, but Demand over the past few months from coin dealers appears to have overwhelmed the US Mint.

As they just warned that they are halting sales due to a global silver shortage that leaves them unable to fulfill orders …

The United States Mint is committed to providing the best possible online experience for its customers.

The global shortage of silver has driven demand for many of our numismatic and bullion products to record levels. The Mint feels this level of demand most acutely during the initial product launch of numismatic items. More recently, in the 2021 Morgan Dollar pre-order window with Carson City Private Label (21XC) and New Orleans Private Label (21XD), the extraordinary volume of web traffic caused a significant number of Mint customers to experience website anomalies that resulted in your disability. to complete transactions.

In order to properly rectify the situation, the Mint is postponing the reserve windows. for the remaining 2021 Morgan and Peace silver dollars that were originally scheduled for June 1 (Morgan dollars hit Denver (21XG) and San Francisco (21XF)) and June 7 (Morgan dollar hit Philadelphia (21XE ) and the peace dollar (21XH))).

While inconvenient for many, this deliberate delay will give Mint the time it takes to obtain web traffic management tools to improve the user experience. As the demand for silver is still greater than the supply, the reality is such that not everyone will be able to buy a coin. However, we are confident that during the postponement we will be able to greatly improve our ability to deliver the most positive US Mint experience that our customers deserve. We will announce revised release dates for pre-orders as soon as possible.