The recent pull-back in the silver price to levels below and around $30 per troy ounce, mostly due to blatant and illegal silver market manipulation, has triggered an unprecedented demand for silver globally.
Yes, although the demand for silver has reached unprecedented levels globally, it doesn’t mean that thousands and thousands of people have jumped on the silver wagon. In fact, it is estimated that not even 1% of the world population gets silver, both in terms of buying physical silver and understanding silver and its prospects. Despite this, it has become clear that many silver sellers, the few that are left, are struggling at best to keep up with the demand for silver, physical silver that is. The Perth Mint in Australia is for one struggling at best to keep up. They’ve made it clear in a communication to their customers that unprecedented levels of demand for silver coins are placing tremendous pressure on both their customer service department and business systems. In other words, needless to say, it is not business as usual, because logic dictates that customers not only have to wait longer to be served, but have to wait longer for their silver coins to be delivered as well, while customer service levels might suffer in the process.
The Australian Bullion Company, based in Melbourne Australia, is another silver seller or silver dealer that is struggling to keep up with the demand for silver. The CEO of the company, Peter August, has made it clear in a discussion with King World News (KWN) that they “…have never, ever seen these levels of demand for physical gold and silver. One of the biggest changes we have found in recent times is that our client base has become much more savvy and they are aggressively buying on the dips. As an example, with the recent plunge in the silver price, we have noticed that the demand for physical silver has exploded. Another complicating factor is the fact that there are virtually no sellers in the silver market.”
Now the question that begs to be answered: If silver sellers are struggling to keep up with the demand for silver at this stage, with less than 1% of the world population onboard the silver wagon as previously mentioned, how are they expecting to keep up with demand when the rest of the world population tries to get onboard? Well, this is a tell-tale sign that it’s best to get onboard while the going is still relatively easy, while the majority is still fast asleep, “high” on the ecstasy offered by fiat currency (electronic currency, non-redeemable paper notes, paper currency).
Tip: If you’re struggling to get hold of physical silver, especially from official silver dealers or suppliers such as the Perth Mint, then we recommend you consider to buy or acquire silver from private sellers via online marketplaces such as eBay. You may want to consider the list of silver bullion dealers we endorse based on personal experience.