Backlog at the Royal Mint

[Pete]

 

Check the last line next to the green tick .

 

 

[Tn21]

do you reckon it will be the same for other dealers aswell for this specific coin ?

 

[sixgun]

Yesterday Robert Kiyosaki posted on Twitter that his coin dealer had told him he couldn't get any gold or silver. i suggested he join the TSF as a premium member.

[Tn21]

3 hours ago, sixgun said:

Yesterday Robert Kiyosaki posted on Twitter that his coin dealer had told him he couldn't get any gold or silver.

So hold onto the metals for dear life in this current climate?

[sixgun]

4 minutes ago, Tn21 said:

So hold onto the metals for dear life in this current climate?

i think there are shortages at the current prices. The US Mint has scaled right back on production but they won't pay the going rate so they can't get the planchettes. Perhaps Robert Kiyosaki was after US coins and in that case it wouldn't surprise me if a dealer was struggling to get hold of stock. Personally i just keep adding to my submarine stack, at this stage of the game we should all be diamond hands unless needs force us to be otherwise.

[Tn21]

I think in the US there are issues with supply coming in from the secondary market as coin dealers are selling but finding it hard to buy inventory back. Folks holding onto their purchases.

Edited September 21, 2022 by Tn21

[LawrenceChard]

3 hours ago, Pete said:

Check the last line next to the green tick .

 

 

It says "In Stock | Shipping late September 2022" now.

Perhaps they just knocked a few thousand out in the last 3 hours!

😎

[Jimmock]

I had noticed the same with the Year of the Rabbit silver proofs,and I wondered if was to give them time to produce them with Charles on them.

[Scootermuppet]

4 hours ago, Pete said:

 

Check the last line next to the green tick .

 

 

There’s a lot of stuff with the 3 month lead time on the Mint site at present… from BU annual sets to 2022 blister pack sovereigns and more…

Does make you wonder 🤔

[Petra]

In the last ten days I ordered a half and quarter sovereign. Three months delivery was on the website. Received three days later

[Scootermuppet]

4 minutes ago, Petra said:

In the last ten days I ordered a half and quarter sovereign. Three months delivery was on the website. Received three days later

The Double & Half Blister pack 2022's are now 'Awaiting Stock' 🤦‍♂️ - ahh well, gives me time to save up I guess...

Edited September 21, 2022 by Scootermuppet
spellings

[JaggyNettle]

I ordered one on Sunday night, figured I could wait 3 months as I had set my heart on collecting the 10oz Tudor Beasts. I got my dispatch email yesterday and it is arriving tomorrow.

So not sure what that is all about? Maybe there is increased demand due to obvious reason and they are pulling a 'Scottie' Under Promise - Over Deliver.

[Vern]

Deleted, wrong thread.

Edited September 21, 2022 by Vern

[Pete]

If something is in stock it is waiting despatch and not manufacture so I find it unbelievable that the Mint is stating it can take 12 weeks to ship.
Unless of course everyone is working from home these days !

[AR03]

I ordered a commemorative coin set at nearly midnight just before bank holiday, said 3 months dispatch time, but next day 9.15am I got dispatch email and got delivered the next day. 

 

They probably are being safe, just in case the order gets delayed, customers don't complain.

[gji25]

4 hours ago, Tn21 said:

So hold onto the metals for dear life in this current climate?

theres plenty of the stuff around if you know where to look for it 

[gji25]

3 hours ago, Jimmock said:

I had noticed the same with the Year of the Rabbit silver proofs,and I wondered if was to give them time to produce them with Charles on them.

it will need to be a big coin to fit the ears in and could be a reason for the delay

Edited September 21, 2022 by gji25
typo

[Happypanda88]

2 hours ago, Pete said:

If something is in stock it is waiting despatch and not manufacture so I find it unbelievable that the Mint is stating it can take 12 weeks to ship.
Unless of course everyone is working from home these days !

What, the Royal Mint are getting their staff to mint coins from home !? 😅

[Happypanda88]

4 hours ago, Jimmock said:

I had noticed the same with the Year of the Rabbit silver proofs,and I wondered if was to give them time to produce them with Charles on them.

 

Charlie won't be on it.

 

[SidS]

11 hours ago, sixgun said:

Yesterday Robert Kiyosaki posted on Twitter that his coin dealer had told him he couldn't get any gold or silver. i suggested he join the TSF as a premium member.

He's never watched Bargain Hunt then, every episode there's silver everywhere - vesta cases, sovereign cases, mirrors, photo frames, spoons, brooches, pendants, cigarette cases, ornaments, old coins. Theres plenty of second hand silver out there, hardly rare.

Only new silver which is mostly supply chain issues than an actual shortage it seems. If there was a real shortage you wouldn't see silver any where, much like toilet rolls during the pandemic.

[Happypanda88]

5 minutes ago, SidS said:

He's never watched Bargain Hunt then, every episode there's silver everywhere - vesta cases, sovereign cases, mirrors, photo frames, spoons, brooches, pendants, cigarette cases, ornaments, old coins. Theres plenty of second hand silver out there, hardly rare.

Only new silver which is mostly supply chain issues than an actual shortage it seems. If there was a real shortage you wouldn't see silver any where, much like toilet rolls during the pandemic.

I'm pretty sure coin dealers won't want to deal in picture frames, spoons or brooches but coins in monster boxes.

Besides, do you know the Bargain Hunt episode you been watching is not last year's repeat !? 😁

[SidS]

1 hour ago, Happypanda88 said:

I'm pretty sure coin dealers won't want to deal in picture frames, spoons or brooches but coins in monster boxes.

Besides, do you know the Bargain Hunt episode you been watching is not last year's repeat !? 😁

It probably was a repeat to be fair, they often are.

That said, in a true shortage people would be hoovering up silver in any form and sending it to the smelters. In 1980 old silver was being melted en mass to satiate demand. It wasn't rare though even then. Just look at how much antique silver still survives.

I've said it many, many times but silver is not rare nor necessarily in short supply. Palladium on the other hand is much harder to acquire by comparison.

[Scootermuppet]

10 hours ago, AR03 said:

I ordered a commemorative coin set at nearly midnight just before bank holiday, said 3 months dispatch time, but next day 9.15am I got dispatch email and got delivered the next day. 

 

They probably are being safe, just in case the order gets delayed, customers don't complain.

I ordered 2 commemorative sets recently, they applied the 'hold' to the money on my account, but that's now dropped off, and still showing as 'Awaiting despatch' on the RM site 😕 🤷‍♂️, was sowing as 'Available to order - 3 months delivery' on the website when I ordered...

... on a slightly brighter note, I have now received my replacement Tudor Beasts Yale 2 coin Reverse Proof set, and don't want to tempt fate, but certain looks better than the last set to the naked eye... Will take some close ups and post them - see what you lot think 😊

[GoldStatue]

It seems as though the Royal Mint had some sort of plan for QEIIs passing that they implemented that was overly cautious and unnecessary.

The queue-it system being switched on for days on end/extending all their shipping times to months instead of days/cancelling their behind the scenes VIP tours.

 

[sixgun]

3 hours ago, SidS said:

I've said it many, many times but silver is not rare nor necessarily in short supply. Palladium on the other hand is much harder to acquire by comparison.

If you went into the average household you would find some silver - in mobile phones, the TV - in electrical gadgets. Because of the cost of reclaiming it and the price put on silver that silver is gone. Otherwise i expect most households have little to no silver. There are concentrations of aesthetically pleasing and valuable items in antique shops and sale rooms. So you will find silver b/c it is aesthetically pleasing and has some value. If you spread all the silver in all the antique shops and sale rooms out amongst all the households i don't think there'd even be handful of pre-1920 UK silver coins' worth for each household. That's not much silver really. It might look a look of Bargain Hunt but when it's spread out over everyone, i don't believe anyone would get much.
i spoke to a friend of mine who is a distributor for Geiger. He said that there is a 2 -3 month or it might have been a 3 -4 month backorder. 
This sort of thing is being put down to supply side delays. We know the price of precious metals are manipulated - people are going to jail over this. We know the banks suppress the price of gold - they have admitted it. For sure they aren't going to say the shortages are b/c there are shortages. That will send the price up. If the price of silver went to £50 an ounce there would be more silver available - more would be mined and more would come out of hiding. At the moment silver miners can't make money. It's only b/c silver is a by product that we are getting new silver. It really wouldn't take much to tip the balance and we have significant shortages. That 'supply delays' are being blamed means no-one had any significant stockpiles - they need new silver b/c they have no stock.

Edited September 22, 2022 by sixgun