APMEX isn’t fully out of silver, but it’s clearly strained. In January 2026, APMEX reported record order volumes (up to 7x normal), imposed a $500 online order minimum, and warned production would drop by about 50%, extending pre-sale delivery windows.
It says most inventory remains in stock and ready to ship, with delays averaging around four days beyond normal. This mirrors a broader industry squeeze: the Silver Institute cites a persistent supply-demand deficit, COMEX and LBMA vault stocks near multi-year lows, and the U.S. Mint delaying its 2026 Proof Silver Eagle.
So APMEX isn’t “out” of silver, but availability, pricing, and speed have tightened noticeably amid record demand and rising spot prices.
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