The bullion website has been selling gold and silver bars and coins successfully for 12 months. However, it has not all been plain sailing over this period.
Here’s an update on where things stand.
The website has attracted a strong following comprising many thousands of bullion buyers. For most it has proved to be a convenient and reliable way in which to purchase coins and bars.
‘Live pricing’ is the stand-out feature – a benefit that has enabled our clients to buy with confidence in volatile market conditions.
Indeed, the past year has been one of the busiest since we began making Australia’s official bullion coins in 1986. Massive worldwide demand combined with the launch of our Year of the Dragon coin series meant we experienced extreme peaks of customer traffic.
Unfortunately, some of the back-end system upon which the website relies did not function as smoothly as expected at such times.
This is now a major focus for us. Upgrading these systems and making important changes to our telephone system will improve levels of customer service going forward.
However, as I previously mentioned on this blog, this important work will take time to scope, design and implement.
Because of the current strength of demand for our products worldwide, our refinery and factory are working at capacity. The pressure on manufacturing across the product range meant that at various times the website was also out-of-stock.
Although there are those who would like to think we face a shortage of metal, I can assure you that this is not the case.
Capacity is the issue and this is something else we are looking at closely. Investment in new manufacturing technology is ongoing as we seek the best way to increase output of bars and coins to meet extreme peaks in demand.
On an encouraging note, we currently have strong supplies of 2012 Kangaroo gold bullion coins and production of 2012 Koala silver bullion coins is progressing well in advance of their 3 January launch.
May I be one of the first to wish you the compliments of the season and a prosperous New Year. I look forward to keeping you fully informed about our activities again in 2012.
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