silver price

The European market has run out of silver bullion stocks

The alarm in the European precious metals market went off when the Covid-19 pandemic spread to all the countries of Europe. First, it spread in Italy and, immediately, in Spain and practically all the EU countries, to a greater or lesser degree.

The precious metals market lacks stocks of the most demanded bullion, especially silver. More specifically, what is lacking is the Vienna Philharmonic coins minted by the Munze Osterreich, Austrian Mint.

Christian Kolbl, Sales Director of the Munze Osterreich, stated that there are no stocks of silver coins of the bullion. Before the beginning of July, there are not going to be any changes in the market, according to Kolbl.

The same goes for other famous international bullions such as the American Silver Eagle, Chinese Pandas, Britannia, Maple Leaf, etc.

The large British distributor, Bullionbypost, says that it is waiting for stocks. The Swiss company, GoldAvenue, located in Geneva, states that bullion is Sold out. The same goes for the American distributor in Dallas, Texas, JMBullion. APMEX, from Oklahoma City, only serves with minimums until end of stock.

Silver Bullion from Singapore tells us there is a supply shortage. Finally, the well-known German firm, CoinInvest, is not currently available.

The Austrian silver bullion “Vienna Philharmonic” is still the best-selling investment coin in Europe. This beautiful piece is minted in the Austrian Mint and features impressive designs on the front and back, the work of Thomas Pesendorf. Since its birth in 2008, it has sold more than 90 million copies.

Unlike its one-ounce silver bullion competitors, American Silver Eagle, Canadian Silver Maple Leaf, and Chinese Silver Panda, the Vienna Philharmonic’s doesn’t have a fluted edge. It’s smooth. Furthermore, its silver content of 999 thousandths is 31.07 grams. The diameter of the bullion is 37 millimeters.

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