This article serves to bring you up to speed on what’s happening at Ainslie and precious metals more broadly.
As you know today we recommence attendances to our office via online appointments only, principally to allow people to sell their metal or pick up a previous order. We understand there are a growing number of people needing to sell due to financial hardship or are anxious to collect, and the processes we have in place will work within the social distancing requirements. You can find the booking button on our homepage.
On collections, we are waiving the 30 day pick up period for the duration of the pandemic so you can leave your goods here nice and secure and avoid leaving your home to collect.
The webshop is again now open all day from 6am to 10pm and we encourage people to use it over making an appointment to buy to minimise the cash handling for our staff. That said we appreciate many can only pay with cash and that will be available if it is what you need to do.
In terms of stock you will note on the webshop most silver lines are “Buy now – delayed delivery” as we are waiting for stock to be produced to fill the extraordinary demand of this extraordinary period. You will no doubt have read about the supply shortages in silver. Most major refineries, if still open, are saying 5+ weeks for delivery and many are just not taking orders for many lines as they simply cannot keep up. We have extensive backorders with Perth Mint for a range of product and our main refiner for silver for the Ainslie branded bars has continuous silver supply, though with the same delays in processing and production. In general we are looking at delivery times of 5-6 weeks for new orders. The important thing to note is that you are buying off a 45 year old reputable and experienced bullion dealer, one of the largest in Australia, and using some of the largest refineries in Australia with very strong supply lines in silver. You own the metal you’ve purchased, clearly and unambiguously, and are simply waiting for delivery. Think of it as free storage.
In terms of gold we have stock on hand in most main items and again are up front on our webshop on items that are “Buy now – delayed delivery”. We have robust supply chains for gold and continuous supply with only production timing being the delay in keeping up with the unprecedented demand. If you are after a particular product, keep checking our webshop as we turn them back on when we have delivery certainty.
We are providing all this information so that you understand what’s going on and not feeling in the dark. We often talk about the price potential in silver due in part to what a comparatively small market it is. Whilst the paper price is not reflecting it, the laws of supply and demand can only be distorted for so long. What we are seeing in the physical market at present just goes to reinforce that potential.
These real world supply constraints for both gold and silver, real money, paint a stark contrast to the unprecedented amount of new currency being printed at the stroke of a keyboard and flooded into the system. It’s no coincidence the two are happening at the same time.
Keeping all this happening means we still cannot generally get to answering the phone so please email us with concise requirements to [email protected] should you have a query or concern.
Finally, we again wish you all the very best of health and urge you to stay safe.