Silver bullion for about spot on Ebay (seller is Silvertowne, very reputable!)

Your math is off, and the price of the rounds is fluctuating with the spot price.

Right now its $340.54 for the roll, that is $17.027 per round, Silver ASK is $16.99

Perhaps you are using Bid (ask is standard though for retail sales). Although even if you use Bid the premium still isn't 2.25% (it'd be about a .75% premium if using bid)

 

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Not a horrible deal as long as silver climbs up again; but buy with no premium pretty much always equals sell with no premium later in my experiences.

 

I just checked the BBB: Silvertowne has a stellar rating. They are a highly reputable firm, unless you can prove otherwise. There's nothing to support your accusation.
http://www.bbb.org/indy/business-re...ilvertown-coin-shop-in-winchester-in-17002773

What you've just said about Silvertowne is correctly defined as slander and libel.

The moderation of this site is very queer, to encourage such pathological/criminal behavior; it's actually a liability for the site owner.

 

drama free zone here please

 

Yep, my math was off -- I got $17.27 per round, not $17.027. How embarrassing. And I've even been helping a sixth-grader with fractions.

I was using the spot price as reported by Coinflation. When I'm making actual purchase decisions, I generally compare against Provident's "sell to us" quotes -- if I can buy for less than Provident is paying, I figure I'm doing well.

While Coinflation is reporting spot at 16.90, Provident is reporting it at 17.01; not sure whose quote is more recent. With spot at 17.01, Provident's offering $16.72 for generic rounds.

If I'd had that $25 off coupon, which would have brought the price per round down to $15.78, I would've jumped for sure.

 

No worries

Coinflation is reporting the silver bid price, while Provident is tracking the silver ask price. (pretty much all, if not all retail sites track the ask price)

For example right now, at 3:03 ET the bid on silver is $16.91, while the ask is $17.01

Why is there a difference? Well this has to do with trading on the comex (5,000 oz silver contracts). The bid is someone saying I'm paying $16.91 for 5,000 oz of silver, the ask is someone saying I'll sell 5,000 oz of silver for $17.01

 

"to encourage such pathological/criminal behavior..."

 

Before completely giving up on silver rounds, has anyone looked into who makes these for each private company such as Silver Towne. I'm sure Silver Towne does not actually make these themselves. I would be curious to visit a couple of these private smelters and investigate their history first. I only have one roll of P.M.s Buffalo silver rounds, and generally agree to stick with a known government mint but I don't think any of us has fleshed this out enough to say absolutely not.

 

i bought a roll cant go wrong... btw yes silvertowne mints their own items as well as blank planchets for the U.S. mint

 

Again, this is an opinion. To say something as if it were fact can be very dangerous. No one has a crystal ball.

 

He had lots of complaints and was delaying deliveries. If Silvertown or any other seller takes more than 5 business days to get you your silver -- or doesn't get you a tracking number within 48 hours -- then you can start to sweat.

 

They do ? They supply to the U.S. Mint ? That's a big feather in their cap, IMO.

Can you confirm that ? I HIGHLY doubt that the U.S. Mint wants to deal with fly-by-nighters who might disrupt their supply chain.

 

I don't know about your timeframe, but attention to bullion dealers' shipping practice is warranted. Another mint has a spotty rep there, and dozens of complaints (none recent) of the same kind that dogged Tulving:
http://www.bbb.org/western-washingt...st-territorial-mint-in-federal-way-wa-3027278

Let's not be revisionist, it was only a year ago: people on CT were defending Hannes to the bitter end. Call it group psychosis or something (like Madoff investors: delusional to the rotten truth), despite his recorded bankruptcies, FTC conviction, and years of mounting evidence that Tulving was in fact defrauding buyers. And "critics" (actually, shafted customers) were shouted down and hounded off websites when they warned others! (GIM, Kitco, etc.) That's what happened, never forget it.

In fact, the Tulving Wake-Up Call reached Cointalk 5 months late!
https://www.cointalk.com/threads/tulving-in-trouble.243079/

Re: Silvertowne
It's still wrong to specifically accuse any business of gross misconduct if there's no evidence at all.

 

I checked the BBB site for Apmex and like NWT they both have complaints, but most of NWT's are regarding delivery....also, they have plenty of Negative Reviews on the BBB website, and folks are saying that NWT wants to wait 8-10 weeks to deliver product. Clearly, they are in financial trouble OR need to use the 'float' to make money, either of which is a warning sign IMO.

Most of Apmex's complaints are non-delivery and they have some sterling reviews.

Hannes was smart...he kept a small group of people happy with A-1 service KNOWING they would defend him on the Internet. They may have even kept ordering from him and still gotten timely shipments of PMs.

If I see 1 or 2 people saying something is a few days late, that's one thing. But if I see more than that saying stuff is WEEKS behind, that's a RED FLAG and I don't care if 5 or 6 others are saying they ordered 5-figure sums from him and got the stuff within 72 hours so it must be a legitimate delay.

Names I have followed for years -- or decades -- include Silvertowne, Kitco, Apmex, Modern Coin Mart, Blanchard, and Monex.

 

Well, I bought two rolls...one through each of my ebay accounts. The price is very good when you consider that when you buy from any mint or bullion supplier you are going to pay usually pay 65 or more cents OVER the ask price and then only if you buy 500 ounces at a time or $10,000 minimum order. I have ordered different items from Silvertowne off and on over several years and I have never had a problem with them shipping or getting whatever I ordered...all from ebay. So I don't anticipate a problem. There may be a little lag in shipping due to the number of rolls sold, but everyone will get their buffs!

 

I hate the Buffalo rounds, but bought a roll anyway.
Can't beat a dime over spot.

 

NWT mint has been shipping slowly for years. For some reason that is just how they want to do business. They've had probably literally thousands of complaints but they don't care. They always deliver eventually though as far as I know.

 

The they are doing something funny, either speculating with client monies or using the float to enhance profitability. Even if they don't want to hold any inventory there's no reason why they can't get PMs every week or so, 2 weeks tops. Not shipping for 8-10 weeks is ridiculous but if others feel comfortable with that arrangement, more power to you.

 

I'm pretty sure they order the silver from the Comex and then mint it, that's why the whole process takes so long. By doing it this way they don't have to hedge, but obviously its a huge drawback to most customers since not many people want to wait that long for an order.

 

They don't sell products from the U.S. Mint and other countries ??