been telling you for 5 years now
but nooooo
muh bitcoin
muh ripple
muh ftx
sd bullion has better prices and deals
March 29, 2023
A Historic Quarter for SD Bullion and Current Business Update
Thanks to our amazing customers and partners, SD Bullion has seen significant growth throughout the entire Q1 of 2023. In what was a steady market, we offered best in market value via competitive premiums as buyers were less active than usual. Our customers responded overwhelmingly, clearly supporting the decision to reduce premiums where we were able to do so. The leadership of this company invests in precious metals personally, so we understand the value of affordable physical.
As we have grown, we have continued to hire as many people as possible to join our team and service the business. While we’ve been successful in some ways, we admit that what we have done has not been enough to prepare for what occurred in early March.
On March 10th, we all woke up to the news of the Silicon Valley Bank collapse; which sent a ripple effect through investors worldwide. There has been and continues to be a massive influx of demand as savvy investors are now evaluating counterparties, including banks, in a more scrutinizing fashion. The takeaways from the banking collapses have been clear: you don’t own what you don’t hold. As a company, we went from “extremely busy, but keeping up” to “all hands on deck” overnight. Orders came in waves, and the amount of metal per order more than doubled. The bottom line is bigger orders take longer to ship than smaller orders.
This perfect storm has created very difficult challenges in the short term at SD Bullion, both internally (our phone queues flooded with calls that there simply aren’t enough man hours to answer) and externally (customers are experiencing delays outside of our normal shipping time frames as we endeavor to push out every order possible daily).
We have been aggressively hiring since mid-February and we continue to do so. We’ve raised wages, offered higher signing and referral bonuses, and restructured teams to maximize available support to shipping and phone teams. Everyone at SD Bullion, top to bottom, has been diligently working to get us out of this hole. In short: it has simply not been enough and we continue to under-deliver in ways that we won’t accept.
To our customers, we hear your frustration with the delayed shipments. We share that frustration and will not slow down until it’s remedied in full and we have scalable solutions in place to prevent it from happening again. There’s a lot we’ve learned from this experience. We are the fastest growing bullion dealer in the world; we thank our customers as they are responsible for that growth. As a company, we’re pushing through growing pains and we will continue to improve in every way that matters to our customers.
Where Do We Stand Today?
As we write this we are currently 7+ business days behind our normal shipping time (which is 1-3 business days after your payment clears our account). For the time being, we’re pausing additional planned promotional (“On-Sale”) activities while we focus all attention on servicing existing orders in the system. 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.
We plan to post an update here weekly until we get back to the standard service and shipping experience our customers have come to enjoy for more than 10 years now.
Thank you to everyone’s support and patience with us. If you’ve placed an order with us; you will receive it in full, it just might take a few extra days for us to get it out the door. For that, we deeply apologize for it taking longer than it should.
Sincerely,
SD Bullion Executive Team
the writing is on the wall