Delays in Delivery of physical PM

By Gatortrapper on Sun, May 26, 2013 - 7:49pm

Has anyone else experienced delays in delivery of purchases of PM? I had an order close with Hard Assets Alliance over two weeks ago and they still are still are offering excuses for why it hasn't shipped. I know that some delay between an order and filling it is normal for all products; and I know that this might be a little different type product but it's hard to reconcile the steep drop in PM prices with supply problems and that should apply to all products. That's if there is enough to go around of course. If more has been sold than exists, well that poses a problem doesn't it.


Anyway, my question is: am I alone in my experience?



4 Comments's picture
Status: Member (Offline)
Joined: May 26 2013
Posts: 2

Dear Gatortrapper,

No, you are not alone.  I live in San Diego and have to wait for an indefinite time to get the silver that I already paid for.  There is a tremendous demand for silver right now. Maybe you should listen to the discussion Chris M. had with Robert Mish of "Mish International Monetary Inc., one of the biggest dealers in Northern California.  Good luck!


hammer6166's picture
Status: Bronze Member (Offline)
Joined: Apr 30 2010
Posts: 33
Delivery delays

Hello Gatortrapper,

Delays are common.  Hard Assets Alliance has been showing a warning for a while that orders will take two weeks to ship.  It is interesting that they are outside their stated window.  I thought because of their access to the dealer network, they would be able to maintain their commitments.  Lesson learned.  If you don't mind, please let us know when they actually ship your order..

I had placed an order with another dealer on 4/12/2013 and paid by paper check.  It took two calander weeks for the check to be received and clear.  This is normal for a paper check with this dealer.

4/12 was the start of the price drop and supply quickly dried up.  Even though I had made the purchase, because my check hadn't been received and cleared, my order wasn't filled.  By the time everything cleared, items that had been in stock were now on backorder.  My order shipped last Friday, 5/24, approximately 4 weeks "late".  It was a frustrating 6 weeks.

I always knew that orders could be delayed and accepted the risks.  I think there is a risk that my order may not have been filled and my money returned to me.  Until I receive the order, it is not mine.  I am seriously considering changing to a higher premium, shorter supply chain.

Here is the list I use before I make a purchase to mitigate risk/frustration:

  • Determine how quickly the metals are needed. This will influence where to purchase the metals (local, online, lowest premium online).
  • Determine the premiums that are acceptable.  People in Asia are paying 25% or more for gold while we are at 1-4%.  Sometimes 1% is acceptable.  Other times, 25%+ is okay.
  • Am I willing to accept having my cash returned rather than the metals I purchased? (new rule)
  • Determine how to pay.  Here are the fastest to slowest, in my experience:
  •  Cash at a local dealer (immediate, if they have stock on hand)
  •  Bank wire, credit card (1-3 days)
  •  Prepay ACH at Hard Assets Alliance (3-4 days)
  •  Paper check, cashier or personal (10-15 days)

Stepping back, this shortage in metals highlights the fragility of our limited storage, just in time delivery system.  My recent purchase experience has prompted me to review and enhance my readiness for other important supply shortages.

While I have 3-6 weeks food and water, I now think it should be increased.  I have a few older native German and Austrian friends who lived through WWII.  They lived through severe shortages and hunger.  Even the black market was out of businerss.  While they own gold, they remind me that "you can't eat gold".

Have fun.  Hammer

Gatortrapper's picture
Status: Member (Offline)
Joined: Mar 27 2013
Posts: 10
Status update

I received an email yesterday saying that they are hoping to effect delivery NEXT WEEK. At which time it will have been more than 21 days after closing of the sale before shipment, IF it ships on May 31st. If it is NEXT WEEK then it will have been nearly 28 days.

In order to place the order the funds had to been in hand, cleared and available for use. That it is taking nearly a month as the market tanks is pretty unreasonable in my view.

As for your other observations, I'm well stocked on food. But your admonishment is well taken.



hammer6166's picture
Status: Bronze Member (Offline)
Joined: Apr 30 2010
Posts: 33
Thanks for the update

... and the delivery times poll.  --Hammer

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