05/25/2024 07:33:07 AM
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Provident Metals Industry Update

We wanted to provide our customers with important updates about our company, including a new temporary $299 minimum order, as well as the overall state of the industry.

Starting on January 28th, and accelerating through February 1st, we experienced record silver sales, culminating in the two largest volume days in our company’s history. The demand was simply overwhelming and unlike anything we have ever seen before.

As a business, we are doing everything we can to keep up, but with a 5x increase in order volume, we are unable to answer our phones and ship orders as quickly as usual. You can expect ongoing shipping delays of 10+ business days while we scale up our operations to satisfy this unprecedented level of demand.

Please note this does not impact your orders in any other way. All orders are locked in upon placement, and as always, customers can place orders online 24/7 as well as see their latest status updates in the My Account area of our website. For order status updates, we ask that you first check the website to keep our phone queues as reasonable as possible.

The increase in demand is also beginning to strain supply chains, and product availability is becoming increasingly scarce. Retail premiums are rising due to the supply/demand imbalance, and we are having to pay our suppliers significantly higher premiums to source new inventory. Our purchasing team is doing their best to keep as many items as possible in stock and available for purchase.

$299 Minimum Order

Ultimately, we simply cannot ship the orders as fast as we’d like, and have decided to make a temporary change to our order policies. Effective today, February 2nd, we are implementing a $299 minimum order threshold. All orders above the $299 threshold will continue to ship free.

Please understand we did not take this decision lightly, but felt this was a better alternative to more aggressive approaches such as stopping accepting orders altogether.

We understand the importance of customers being able to lock in pricing during highly volatile times, and will do everything we can to continue providing the highest level of customer satisfaction. We want to stress this is a temporary measure and will only last until our shipping times normalize.

As always, we thank you for your business, and greatly appreciate your patience during this time.