Good thing silver’s so plentiful and that nobody wants it as demonstrated by silver’s sub-$13 price!
(Silver Doctors Editors) The Royal Canadian Mint is shutting down production.
From Mint.ca (bold added for emphasis):
With the ongoing challenges of the COVID-19 pandemic, The Royal Canadian Mint is implementing a temporary suspension of production effective Friday, March 20, for a period of two weeks. This is part of the Mint’s on-going efforts to proactively modify how we work, and take necessary measures to safeguard our employees’ health and safety.
We have a plan to resume modified production in two weeks, which will allow us to reduce the risk to our staff and maintain critical services. We do however anticipate a longer suspension of production and shipping for our Numismatic collectable coins as we prioritize the support of trade and commerce.
These production and shipping problems can be added on top of the fact that dealers have already scrambling for product for weeks on end, and premiums are going through the roof in order to entice holders of physical silver to sell some of their stack when the paper price is less than $13.
Physical silver is in strong hands.
Even if the paper price is trying to tell you otherwise:
Has silver found its paper price bottom?
What about the US Mint?
So far it appears only select public tours, gift shops and coin shops of the US Mint are closed (from a March 13th press release, bold added for emphasis):
WASHINGTON – The United States Mint (Mint) is temporarily closing public tours of its facilities in Philadelphia and Denver beginning Monday, March 16. The Denver and Philadelphia Mint gift shops and the Washington, DC coin store will also be temporarily closed. This action is being taken to reduce the risk of Mint employees’ exposure to Coronavirus (COVID-19).
According to Mint Director David J. Ryder, “the health and safety of the Mint workforce is my highest priority. Many Mint employees interact with visitors from throughout the country and the world as tours are conducted. Public health officials are still learning about how COVID-19 spreads, so out of an abundance of caution, I have decided it is prudent to close our tours, gift shops and coin store. I understand this is an inconvenience to people who were looking forward to seeing how we mint our nation’s coins and medals, but my employees and their well-being are my greatest concern. We intend for this to be a temporary rather than a permanent closure. The Mint will continue to fulfill its mission of protecting our nation’s strategic assets and producing trusted currency, while also taking appropriate precautions given current public health risks.”
There’s that word “temporary”!