Got gold & silver? The supply chain disruptions continue, so ‘on-the-fence’ investors may want to get some while there’s still some to be gotten…
(by Half Dollar) There continue to be disruptions at the US Mint.
This is an ongoing problem that we have been reporting on since March, and to get caught up-to-speed, these articles are a good place to start.
Today, we learn that the US Mint is still suffering from coronavirus related disruptions.
From Bloomberg (bold and bold added for emphasis and commentary):
The U.S. Mint has reduced the volume of gold and silver coins it’s distributing to authorized purchasers as the coronavirus pandemic slows production, a document seen by Bloomberg shows.
The Mint’s West Point complex in New York is taking measures to prevent the virus from spreading among its employees, and that will probably slow coin production there for the next 12 to 18 months, the document shows. The facility is no longer able to produce gold and silver coins at the same time, forcing it to choose one metal over the other, according to the document, which was presented to companies authorized to buy coins from the Mint last week.
There is more to the article than that, but those first to paragraphs will suffice to make a few points.
First of all, “reduced the volume” means “we can’t satisfy demand”.
Secondly, the sentence should read “The Mint’s West Point complex is STILL taking measures”.
Thirdly, There will be supply chain disruptions for the foreseeable future, at least for the next year and a half.
The mint is only one link in the supply chain, and pretty much all of the links in the chain have been disrupted.
That is to say, we’ve seen mine closures, refiner closures, mint closures (not just the US Mint), logistics problems, product sourcing problems, low retail availability, and more.
Finally, just a friendly reminder: Silver has been bid, silver is bid, and silver will be bid.