Silvertowne - can't deliver

[SilverDragon72]

I think I have picked up a few silver orders this week because of the uncertainty and delays with other online dealers. I'm not the cheapest place around by any stretch of the imagination and I don't pretend that I am. But I don't play games with "en route" products or undisclosed pre-orders. I only sell what I have, and I ship it quickly

True.

Yes he does.

[68Camaro]

I just ordered some bars from them on Tuesday. It said then that shipping would be delayed 2-3 weeks, which I have no problem with. But we will see. Claiming to have something "in stock" when you don't even have the product to produce "the stock" is not cool.

It'll be interesting to see when you all that ordered this week get yours. The manager I talked to was hedging, as though they had been told they didn't have any definitive silver coming in and no promises of any sure delivery dates. He sounded a bit shell-shocked.

I only ordered a couple of 1 oz bars to take advantage of their free shipping so I'll ride it out just out of curiosity. But it is annoying because it did say "in stock" when I ordered. I don't appreciate that.

Never know. Maybe they still had some of that size. I was ordering the 5 oz, maybe they were out of only that. But they didn't offer me replacement amount of any other bar sizes. And apparently had no feedstock left. I hope you (and everyone else) gets yours quickly.

[cupronickel]

I ordered from Tulving. It took 6 days to ship.

[Z00]

20% fee?
I would have told him I am sending them a bill for tying up my money with a false contract. As I use a debit card the money would be gone from my account and I was unable to take advantage of someone else's deal.
The loss of opportunity due to their misrepresentation is a recoverable expense under the law.

[68Camaro]

Update. They just called me back and said they pulled the product together over the weekend (I didn't ask how but I suspect they either swiped metal from someone else's order or remelted something like Christmas bars etc) and said they could ship if I would take it. I said I would take it if he would send me a tracking number, which he is supposed to email me. If they do, I'll lift the dispute.

Related, I just got an interesting update from Texas Precious Metal on the status of the market and supply. I'll post it in another thread as soon as I get a spare other moment.

[dannan14]

I just ordered some bars from them on Tuesday. It said then that shipping would be delayed 2-3 weeks, which I have no problem with. But we will see. Claiming to have something "in stock" when you don't even have the product to produce "the stock" is not cool.

It'll be interesting to see when you all that ordered this week get yours. The manager I talked to was hedging, as though they had been told they didn't have any definitive silver coming in and no promises of any sure delivery dates. He sounded a bit shell-shocked.

i ordered a single 1oz round from Silvertowne on 4/12. They shipped it on 4/15 and the UPS tracking says i will receive it today.

[68Camaro]

I have a tracking number now that shows as "accepted".

[68Camaro]

I have a tracking number now that shows as "accepted".

Took delivery today and removed the dispute. Hope you others have all faired as well or better.

[Country]

Still waiting for my 4/16 order.

[dakota1955]

I'm also waiting on a 4/19 order. I will wait till next week before I call or send a e-mail

[Rastatodd]

Ordered a 5 oz. bar on 4/16 and received it Thursday 4/25

[Mossy]

Northwest Territorial Mint and Monex pulled this crap on me in 2007 and 2008. I got my product once the spot price of silver plus the premium i agreed to pay declined below the price I agreed to pay. In other words, i locked in a great price, but didn't get my prodcut for 6-8 months until those scumbags could source it at an even bigger profit.

Territorial Mint took 6 weeks to deliver what they claimed they had in stock. I will never deal with them again.

[dakota1955]

Just sent a email to silvertowne to ask about an order from 4/19. Will post reply when I receive it.

[Country]

Still waiting for my 4/16 order.

Shipped out to me today (13 day wait) according to the invoice I received today.

Takes 2 days to get to me by Priority Mail.

[68Camaro]

So the squeaky wheel continues to get the grease... maybe not a huge difference in time, but they did ship to me a week earllier than you because of my complaint. That means that someone was further delayed than otherwise might have been. Sorry 'bout that, but I didn't like being charged for something that was promised to be in stock when it wasn't.

[dakota1955]

got the reply they said that they are at about four weeks

[dakota1955]

I sent them an email today and said that fine but if I have a charge on the credit card before the silver is shipped I will dispute the charge. Waiting for a response.

[Robarons]

So I gotta assume that because of the price drop they had to take delivery of metal because their supply the sources (the public, scrap silver, etc.) have dried up or have not been able to keep up with demand. But the process of taking delivery, production must take time.

If this was the case they did not account for the demand or backlog. However when silver went to $9 a few years back the exact same thing happened, so you would think they would have been prepared. With this being said I think they understand the demand and just do not care. They have the amount of production going on- deal with it kinda feeling.

For what its worth when silver did fall to $9-10 we did not see a steady supply of Silver until it hit $13-15 depending on premiums and how reasonable you wanted to be. It would be interesting to see how long and at what price its at by the time supply fills back up, starting at $23.60 and at $24.25 still there is nothing.

[68Camaro]

It would be interesting to see how long and at what price its at by the time supply fills back up, starting at $23.60 and at $24.25 still there is nothing.

I imagine that the rapid and vigorous demand depleted the supply chain pipeline well back into it. Local suppliers sold out. The suppliers of the suppliers sold out. The intermediate producers sold out (US and RC Mints and places like Silvertowne). The planchet suppliers to the mints sold out. This went back into the supply chain quite a ways, and because there is a real lead time issue for certain items like planchets, rounds, small bar castings, etc, that rate of consumption couldn't be immediately backfilled, even if there was silver bar available somewhere.

As long as there is truly a physical supply somewhere (stockpiles, comex, mine warehouses not yet shipped) to pull from, and as long as the rate of demand doesn't continue exceed the critical path for supply, the shortage will be temporary. It may take a month or two for them to catch back up.

However, if the rate of demand continues, and/or sufficient root supply is not there somewhere in a bar stockpile or a mine warehouse, the shortages could worsen. That's why I think this has backfired on TPTB, and tend to believe they will let the price drift back up until demand lessens again, at which point they can resume playing their games.

[HoardCopperByTheTon]

This is sort of like the eBay sellers that sell stuff they don't actually have in hand yet, but hope to get. They get the money up front and then don't end up getting the product.. or the price goes up and then they say they didn't get the product. So they cheerfully refund you your original purchase price.. having had the use of your money for a few months. This is why eBay was requiring pictures of the product in hand on the 25th Anniv Silver Eagle sets so folks wouldn't be selling stuff they didn't have and then flaking when they didn't get it or the market moved in a direction that favored them cancelling the order.

DO AN IMMEDIATE CHARGEBACK! You ordered at a price based on them having the product in stock and delivering in a reasonable amount of time. If you ordered a pizza for delivery for dinner tonight and waited, and waited.. and you were getting hungrier.. and finally after a couple of hours.. after being more than patient.. you call the pizza place and ask about that pizza you were going to eat.. and they say.. "We're not sure when we can deliver.. maybe next Tuesday.. but we can't really be sure. We are out of cheese.. and we haven't been able to lock in a cheese order at a good price. We will talk to our accounting department and maybe they can figure something out.." Would you wait forever for a maybe pizza.. or would you demand your money back immediately and buy a pizza from the guy down the street that just lowered the price of their pizzas.. and actually has some in stock.. and can deliver now? Or would you sit there with an empty belly.. your belly grumbling.. and the beginnings of an ulcer because you are getting so agitated about the whole scam?


It's your belly.. What's ya gonna do?

[dakota1955]

Just got a reply to my last email. They said that they are working on orders from 4/16 now. My order is dated 4/19. So they said next week. We will see.

[dakota1955]

Got the invoice and tracking number today so it took just over 3 weeks. Also got the bill from the credit card today also.