I'm investing in 100 Ounces and a vacation. I received a Chase Sapphire Preferred App and was pre-approved. They're running a special, spend 3K in first three months and receive 50,000 points, with travel bonuses it figures $675 in travel rewards redeemable through Marriot, British Airways, American Airlines, Etc. AWESOME! Or just $500 cash. I've been wanting to invest in a large sum of silver with the price so low and just hold on to it for a while until a 25% - 50% return shows up and flip. With the benefit of $500 cash back or a $675 vacation added to the mix I'm DEFINITELY buying now, just waiting for the card to show up. My dilemma... I love buying through Apmex, but haven't had a LARGE order yet. I see they have a few different prices (ASE). 100 Coins (2012) Price $36.79 (Credit Card) or $3679 For 100 5 Mint Direct Tubes (20 Per Tube) Price $746.13 or $3730 for 100 Then the older the coins get the more expensive they are too (2011, 2010, etc). What's up with that? Why would mint direct be more expensive then just buying by each, I'd assume you'd save money buying in tubes. Also, why are some Mints higher priced? Either way if I just take the $500 cash back it figures at $32ish per coin, which is under spot. Plus they have 300 retailers with up to 10 points per dollar spent so if they have a silver affiliate or even eBay that offers good point to dollar ratio I'll use that for even more points redeemable.
One question though. I assume you are paying off your purchase before you accrue interest? If not you may see any potential gain negated by the interest you pay on that credit card. If you are paying it off shortly after you buy then it sounds like a great deal, take the $500 and get another 13oz.
MintDirect is some process APMEX uses to seal the tubes that come from the mint so that the customer can be assured that the tubes have never been opened since they left the mint. Frankly, who cares if they were opened or not as long as they're in the same condition and not scratched or dinged? That extra charge is not worth it.
If you are not paying off immediately, they indicate a higher APR than the average for credit cards,about 3% more at over 14% APR. Also , check how many years you are committing to, as the fees ( almost 95/ year) are only waived for the first year. And the biggie,,,,There is no way for anyone to know if a 25 -50% increase will occur anytime soon, so a worse case scenario should be what if it falls that much, will you be financially Ok? Otherwise Have a good time if you have thought it out.
Like I said, I was going to buy them regardless because it was so low but this is only an incentive. My question isn't about finances, instead about why the prices vary for mints, tubes, years. As for the fall it's a long term investment unless I can make short term money on it.
I'll go with that. just get the regular rolls for less. i would look for other places besides apmex in the first place but that's me. gainsville or goldmart or others.
Provident was only a few dollars less. Gainseville is less and there is one located near by Tampa but can't say if they'll have the tubes or not. Guess I'll have to give them a call.
