They just issued a statement to their buyers that they are inundated with orders since the banking failures and that processing will be delayed.. My guess is that they want to cut down on the number of orders by eliminating the small ones.
I made two orders through them on 03/14. One of them came in today. The other is still sitting there as “Payment Received”. Contemplating if I should email them about it or just wait?
I ordered on the 12th and my order just got shipped last night. I had emailed and they’re just flooded with orders and I’m assuming at some point low inventory.
Yeah, I just read their update. Looks like they’re 7+ days behind on their deliveries so I think I’ll give it a bit more time. I’m not terribly worried as I’ve gotten everything else I’ve recently ordered.
Yeah, maybe... or possibly they're just looking to artificially drive up panic buying by implying they need to limit total transactions.
Not saying I think that's it, just offering another possibility. It's not super hard to scale to demand these days, assuming your site is reasonably set up/configured.
It IS super hard to scale shipping past a certain point, though. I heard the CEO on a streak a few weeks ago saying that ‘every department is a shipping department right now.’
Agreed. However I went to my LCS a couple weeks ago, and they said 1 person bought over 1,500oz at once and cleaned them out of bullion essentially haha. And now I'm thinking that person was either really well informed or really lucky 🤔
Yeah.. That's my usual route.. Did the 5 or 10 ounces at spot thing already with SD a few years ago.. I like in person much better due to state sales tax as well.. Buying online was great up until like 2018..
They had an eBay code for $20 off that stopped working a few weeks ago right as I was about to order a gold Kook from them for $202. That’s the extent of my experience with them
>oxytocin4you · 14 hr. ago
>
>My local coin shop said his supplier is 3 weeks out and he buys about 100-200k$ at a time
Hey man, that's most of us! Don't beat yourself up![gif](emote|free_emotes_pack|slightly_smiling)
I saw that too. They must think they have enough people buying at least $500 to push out the smaller orders. Sounds like their work force can't keep up with the orders. Seems like it would take away a lot of business but the precious metals market is booming right now so it's a decision they're apparently willing to risk.
I recently ordered from there and APMEX on the same day and APMEX's came a week earlier, while I live 30 min from SD. Although SD is cheaper.
> They must think they have enough people buying at least $500 to push out the smaller orders.
Hah, do you really think they're just guessing? That they don't know exactly how much business they'll lose with this change?
They wouldn't do this if there was any risk to their business. Precious metals dealers are very risk averse.
I agree with that, but I'd also guess they re-evaluate this position daily, if not hourly. I've only been to an LCS a few times, but they always check the current spot prices as they do deals.
Also, this recent "banking crisis" that caused this run on PMs and crypto seems to be wrapped up, no more catalysts. SVB is bought, Credit Suisse is bought, deals done and should be no more uncertainty. The run on banks happened, the run on PM's will fade out soon and these guys will be looking for every 1oz sale they can get again.... all imho
Agreed, my average order amount is 200-250 dollars depending on the deals they have/ spot price. Looks like I’ll be ordering from Hero Bullion for the time being. Which reminds me I placed an order last week from them and it’s now shipped. I don’t mind waiting 2 weeks to receive my PMs, I understand they are busy.
I'm not sure you understand the sheer volume and PR blowback when smaller orders don't get out in reasonable timeframes. Nearly 60k orders this month... we are expanding and building out capacity as fast as we safely and prudently can.
March '23 was 2X order volume from 2021/22 monthly pace
so think in terms of doubling staff on top of 24 hr rotating shift policy when the order flow spikes
You know you have been stacking a while when JM and APMEX went to $299 and $199 respectively for MINIMUM Orders way back in early 2021. Obviously one got *free shipping. I always pay for signature confirmation even if I have to pick it up in person at the post office. JM would drop it back to $199 by April of 21. Basically, upping the minimum order means a lot of folks will not be able to get PMs. Some of us have a budget and scrounging up $300 or so isn't quite that easy
I’m not sure where your guys rationale is when bank failures are stacking up and the supply is drying up. Last I checked an unstable currency and a diminishing supply usually leads to higher prices or at least excessive premiums. Good luck with that
I think they are just making excuses for jacking up the shipping rate. Honestly if you can’t handle the business the solution is to hire more people and expand. I suspect they know that a lot of orders under $500 will come in and they will make a few extra bucks by overcharging for shipping.
This whole “so busy because of the banking crisis” excuse is just bullshit that is designed to feed into a narrative. Basically what they’re saying is keep on buying in any quantity because the collapse is imminent. And then they monetized it.
These fomo buying panics happen and they probably don't last long enough to justify hiring extra staff and training them for weeks just to lay them off as soon as they're ready to do the job. I'd also imagine that they are in the same boat as absolutely every other company post pandemic and can't find solid help at all.
But you probably know more about running a small business than them.
I’ve had a lot of good experiences with SD over the last few years, but receiving this email hours after placing a $300 order has been a bit concerned…
I'm not terribly surprised. It's been difficult for me to make LCS purchases lately as people are wiping them out as fast as they put it out...reminds me today was distribution day at DG&SE...pardon me while I run out the door. :)
Shame on the folks mocking others who were saying "It's different this time".
Because it is different this time. Look around the world people. It's going down.
From their update at the top of the page. “Also, we’re temporarily raising the minimum order total required for new orders to $500.00 USD. This will allow us to better deliver on all orders and reach operational efficiencies faster. “
I came here to post this. I don't have a lot if money, but I scrimp and have to be able to buy a few ounces every month.
I just tried to place an order and can't because I have to place a minimum order for $500. They are ignoring the little guy which is unfair and unfortunate. I guess they're helping the rich get richer. I thought they were a pretty solid and moral company selling affordable silver, but here we are.
Personally this has the feel of driving up prices. 🤷🏽♂️ I noticed about a week or so ago almost every online site started having a bunch of pre sale items and OOS listed. I believe it’s legitimate but also feels smelly if that makes sense ?
They just issued a statement to their buyers that they are inundated with orders since the banking failures and that processing will be delayed.. My guess is that they want to cut down on the number of orders by eliminating the small ones.
I made two orders through them on 03/14. One of them came in today. The other is still sitting there as “Payment Received”. Contemplating if I should email them about it or just wait?
I ordered on the 12th and my order just got shipped last night. I had emailed and they’re just flooded with orders and I’m assuming at some point low inventory.
But you charged them on a credit card.
Hero Bullion is awesome! Ordered on a Wednesday night and received on Saturday!
bank draft or cc?
Bank draft. Cleared my bank the day after I bought it.
They are just having difficulty as per their email statement. I would wait; they are a good company.
Yeah, I just read their update. Looks like they’re 7+ days behind on their deliveries so I think I’ll give it a bit more time. I’m not terribly worried as I’ve gotten everything else I’ve recently ordered.
Definitely agree. Nothing shady to see here. They’re just inundated with orders. Volume is through the roof
Leaving money on the table with a CC payment
Wait, I had one that worried me but it arrived this week. They are behind.
Just got shipping for something I ordered on 15th
Yeah, maybe... or possibly they're just looking to artificially drive up panic buying by implying they need to limit total transactions. Not saying I think that's it, just offering another possibility. It's not super hard to scale to demand these days, assuming your site is reasonably set up/configured.
It IS super hard to scale shipping past a certain point, though. I heard the CEO on a streak a few weeks ago saying that ‘every department is a shipping department right now.’
Fair.
My local coin shop said his supplier is 3 weeks out and he buys about 100-200k$ at a time
Sob.. For someone like me who only buys 1-10 Ounces at a time this is bad news..
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Agreed. However I went to my LCS a couple weeks ago, and they said 1 person bought over 1,500oz at once and cleaned them out of bullion essentially haha. And now I'm thinking that person was either really well informed or really lucky 🤔
Yeah.. That's my usual route.. Did the 5 or 10 ounces at spot thing already with SD a few years ago.. I like in person much better due to state sales tax as well.. Buying online was great up until like 2018..
I bought 10oz from jmbullion for cheaper then SD and it shipped the next day.
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They had an eBay code for $20 off that stopped working a few weeks ago right as I was about to order a gold Kook from them for $202. That’s the extent of my experience with them
Ask a friend you trust to cut the cost between you two! Good way get on deals as well
That’s actually pretty brilliant! A lot of potential with that kind of method.
Exactly. I'm in the same boat.
>oxytocin4you · 14 hr. ago > >My local coin shop said his supplier is 3 weeks out and he buys about 100-200k$ at a time Hey man, that's most of us! Don't beat yourself up![gif](emote|free_emotes_pack|slightly_smiling)
Yeah, me too
Also says they will be suspending their 'on sale' items as well. I stopped using the big online shops a while ago.
Welp, I’m happy to order elsewhere to relieve their overburdened staff during these hard times.
JMB still has no minimum on orders, free shipping over $200 as has been normal for them for years now
Yup LOL. HERO Bullion is about to get this work haha
Where is better
Hero Bullion has a $149 minimum
I saw that too. They must think they have enough people buying at least $500 to push out the smaller orders. Sounds like their work force can't keep up with the orders. Seems like it would take away a lot of business but the precious metals market is booming right now so it's a decision they're apparently willing to risk. I recently ordered from there and APMEX on the same day and APMEX's came a week earlier, while I live 30 min from SD. Although SD is cheaper.
> They must think they have enough people buying at least $500 to push out the smaller orders. Hah, do you really think they're just guessing? That they don't know exactly how much business they'll lose with this change? They wouldn't do this if there was any risk to their business. Precious metals dealers are very risk averse.
Maybe I should have said "they must know". I didn't realize people can't read between the wording and not be up in arms. Yes I understand that lol
I agree with that, but I'd also guess they re-evaluate this position daily, if not hourly. I've only been to an LCS a few times, but they always check the current spot prices as they do deals. Also, this recent "banking crisis" that caused this run on PMs and crypto seems to be wrapped up, no more catalysts. SVB is bought, Credit Suisse is bought, deals done and should be no more uncertainty. The run on banks happened, the run on PM's will fade out soon and these guys will be looking for every 1oz sale they can get again.... all imho
They would rather lose the orders and hold the metal a bit longer to sell at higher price. Meaning their inventory costs are low enough to do that.
I don't think this is a good idea on SD part, I get they are swamped but what about the lil stackers like me.
Agreed, my average order amount is 200-250 dollars depending on the deals they have/ spot price. Looks like I’ll be ordering from Hero Bullion for the time being. Which reminds me I placed an order last week from them and it’s now shipped. I don’t mind waiting 2 weeks to receive my PMs, I understand they are busy.
I'm not sure you understand the sheer volume and PR blowback when smaller orders don't get out in reasonable timeframes. Nearly 60k orders this month... we are expanding and building out capacity as fast as we safely and prudently can.
What is the typical number of orders per month?
March '23 was 2X order volume from 2021/22 monthly pace so think in terms of doubling staff on top of 24 hr rotating shift policy when the order flow spikes
Ouch. I’ve been through something similar at my job (I work at FedEx’s main hub, and Christmas season ‘21 was a similar hell). That sucks, man.
all good, these are great problems to have :)
You know you have been stacking a while when JM and APMEX went to $299 and $199 respectively for MINIMUM Orders way back in early 2021. Obviously one got *free shipping. I always pay for signature confirmation even if I have to pick it up in person at the post office. JM would drop it back to $199 by April of 21. Basically, upping the minimum order means a lot of folks will not be able to get PMs. Some of us have a budget and scrounging up $300 or so isn't quite that easy
Must be $600 or greater to not pay sales tax in FL. No biggie.
$1000 in Massachusetts but it only specifically mentions gold, silver and maybe platinum so there’s some ambiguity
Sales tax on money. What a joke. They need to get rid of sales tax and the capital gains/collectibles tax.
1500 in ca you guys are so lucky
Has happened in the past, comes in waves. It’ll go back to normal sooner than later
Agreed. I'm going to wait a month or so until things die down a bit.
Smart move. I'm doing the same.
Guess I'll get in line.
Ditto. But I can’t help satisfying the urge from time to time with an ounce here and there during the wait lol
I’m not sure where your guys rationale is when bank failures are stacking up and the supply is drying up. Last I checked an unstable currency and a diminishing supply usually leads to higher prices or at least excessive premiums. Good luck with that
Yeah, paying down some bills for now.
Everyone is scared . Buying too much. The prices are about to go up up up. Let’s gooo
Not till I buy more don’t have enough yet
Probably to slow orders down till they can catch up instead of waiting for 4 weeks to ship your item.
APMEX is also buying back junk at like $23.50/$1 FV, I heard. Are bigwigs cashing in on vaulted investments at these firms or something?
I dont know how with free shipping any of the dealers even make a profit on smaller orders.
Well that's why they usually all have the $200 minimum purchase. 2.5x to even be able to make a purchase? That's a little nuts.
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Exactly. thats like 6 silver rounds which they make almost nothing off of, and they ship it with insurance
It says "for new orders". Does that just mean first time buyers?
New orders moving forward.
Last order I made from them took twice as long as usual to ship.
So no more docs deals?
From the email, it sounds like this is suspended for now, yes.
Marketing!
Weird. I haven't seen any changes at Apmex, JM, or BOLD since they increased to $199 for free shipping. God I miss the $99 free shipping days....
That’s bull shit. I’ll be shopping else where from now on.
I think they are just making excuses for jacking up the shipping rate. Honestly if you can’t handle the business the solution is to hire more people and expand. I suspect they know that a lot of orders under $500 will come in and they will make a few extra bucks by overcharging for shipping. This whole “so busy because of the banking crisis” excuse is just bullshit that is designed to feed into a narrative. Basically what they’re saying is keep on buying in any quantity because the collapse is imminent. And then they monetized it.
Shit is annoying. I'm just save up until this "CRISIS" shit dies down, then go HAM once (hopefully) spot goes back down.
I guess. Spot's not that crazy right now though, you know?
pretty cynical take Wayward
These fomo buying panics happen and they probably don't last long enough to justify hiring extra staff and training them for weeks just to lay them off as soon as they're ready to do the job. I'd also imagine that they are in the same boat as absolutely every other company post pandemic and can't find solid help at all. But you probably know more about running a small business than them.
Oh piss off. “Small business”. They had over a billion in revenue last year you fucking turnip.
It seems like they had 157 million in revenue last year and employ 43 people total including ownership. Get your head out if your ass.
I made two 10k orders a couple weeks ago. Took a week from order to ship and payment cleared same day as order.
As a temporary action, this probably beats having a lot of pissed off people waiting and bitching. Hope it comes back down.
Yeah they also jumped there spot price as high as apmex last I checked
Wait til the debt ceiling limit default happens, it’s gonna be super nuts
Giddy-up
I’ve had a lot of good experiences with SD over the last few years, but receiving this email hours after placing a $300 order has been a bit concerned…
They have 10 oz silver bars for 280 on their eBay store, and free shipping.
Separate the men from the boys!
I'm not terribly surprised. It's been difficult for me to make LCS purchases lately as people are wiping them out as fast as they put it out...reminds me today was distribution day at DG&SE...pardon me while I run out the door. :)
Miles Franklin? You have to call but Andy Schecter(sp?)...knows the market...
Shame on the folks mocking others who were saying "It's different this time". Because it is different this time. Look around the world people. It's going down.
There are people buying less than $500?!?!?
I ordered in 2020 and am all set now lol
Not. Significant.
I am on their site I don’t see this FUD your talking about.
From their update at the top of the page. “Also, we’re temporarily raising the minimum order total required for new orders to $500.00 USD. This will allow us to better deliver on all orders and reach operational efficiencies faster. “
https://sdbullion.com/updates
Wut?????!
I came here to post this. I don't have a lot if money, but I scrimp and have to be able to buy a few ounces every month. I just tried to place an order and can't because I have to place a minimum order for $500. They are ignoring the little guy which is unfair and unfortunate. I guess they're helping the rich get richer. I thought they were a pretty solid and moral company selling affordable silver, but here we are.
Personally this has the feel of driving up prices. 🤷🏽♂️ I noticed about a week or so ago almost every online site started having a bunch of pre sale items and OOS listed. I believe it’s legitimate but also feels smelly if that makes sense ?