Silver is running out! Investors are scrambling for tax-free gold and silver coins, the Royal Mint’s production capacity is stretched to the limit, and the London precious metals market is caught in a "perfect storm."
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The 1,100-year-old Royal Mint of the United Kingdom is facing an unprecedented production capacity crisis.
According to media reports on Thursday, a buying frenzy among retail investors has forced this ancient institution to run at full capacity, yet it still had to warn customers about possible delays in silver deliveries. Meanwhile, gold and silver dealers on London’s streets are busy handling crowds of buyers, and even had to ramp up security measures.
This year, the wholesale price of silver in the London market has soared over 80%. A new round of orders from institutional buyers this week triggered a historic market squeeze. The retail buying frenzy is pushing global demand for physical metals higher, giving additional momentum to the already record-high gold and silver prices.

The Royal Mint has increased gold coin production and is working to replenish silver stocks, but some customers may still face longer delivery times.
Stock levels at London vaults are extremely low, and new supplies are being airlifted from places such as New York. This demand storm is rocking not only the institutional market but also making London’s jewelry district exceptionally busy.
Tax-Free Coins Become the Focus of the Buying Frenzy
Price increases are driving investors into the gold, silver, and platinum markets. Among these, Britannia coins and Sovereign coins have become particularly popular due to exemption from capital gains tax—a tax advantage that is fueling retail investor enthusiasm to new heights.
Royal Mint spokesperson Carly O’Donnell said that demand for physical precious metals from both UK and international markets has been “exceptionally strong” in recent weeks.
“Silver Rush” Unfolds On London Streets
In London’s Hatton Garden jewelry district, dealers are experiencing a rare bustle. Queues spill out onto the sidewalk, with customers crowding the counters to sell gold bracelets, rings, and necklaces.
"This is the perfect storm right now," said Emma Siebenborn, operator of Hatton Garden Metals. She and her sister Zoe Lyons come from a family of jewelers, and now have had to swap their heels for sneakers to deal with the intensity of work.
A long-time customer who bought £20,000 worth of silver coins a few years ago has now made £19,000 in profit. Their mother compares the current moment to the silver boom she experienced decades ago, and tells her daughters to cherish this ongoing period.
Rational Voices Amid Market Mania
Amid the continued upturn, dealers are reminding investors to stay clear-minded. "Not every market will keep going up—that’s not how the world works," Lyons said. "Not every market can go to heaven. But where are we on this journey now? Halfway? Or already in heaven?"
The institutional silver market in London, as the global center of precious metals trading, encountered a squeeze this week, with prices pushed to unprecedented levels, sparking concerns over liquidity. This demand wave sweeping across both wholesale and retail is testing every link in the world’s precious metals supply chain.
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