Best and Worst online bullion dealers

Discussion in 'Bullion Investing' started by myownprivy, Jan 19, 2017.

  1. stoster38

    stoster38 Member Supporter

    I've used most of the dealers listed here. I've had good experiences with all so far. I've never bought from JM Bullion. It looks like they have a minimum order of $100 not just to get free shipping but period. Since I'm just buying for myself I get a couple of coins, maybe 3, at a time so would never qualify for their minimum amount. I'll just comparison shop and go with who ever gives you the best deal.

    I like Provident because you can submit an electronic check. I like Mint Products because their shipping charges are lower than most. For orders under $100 that is. Also Mint Products gives you points that you can redeem on future orders.
    Whodowl likes this.
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  3. Clawcoins

    Clawcoins Well-Known Member

    What I've done is I've assembled a purchase in their carts,
    for example, say 6x ASE which normally is over $100. Then if they don't have free shipping I'll have their website calculate the shipping charge.

    Then that gives me the total cost.
    I'll then go to another website and do the same thing. if they have free shipping over $100 then it's just 6x ASE price.
    So I'll buy from the lowest cost vendor.
    Many times I find that it is provident, or govmint.
    sometimes apmex has specials too.

    if you are buying a larger quantity then shipping charges avg out lower over the entire purchase. But I normally target $100 as that is the point of free shipping for several vendors.
    SLACKACTION and aaron47 like this.
  4. myownprivy

    myownprivy Well-Known Member

    Now that i've received my order from Provident Metals, I've got to say I am disappointed. My Rooster Privy Maple Leaf arrived with a very noticeable scuff above the queen's head.

    While this has happened on purely bullion coins before through JM Bullion, it has never happened on a semi-numismatic coin. The semi-numismatic privys I have purchased from JM have never been this scuffed.

    Now, I could write or call Provident to complain how this is not BU and I expect better. But, the reality is it would involve the headache of mailing it back, which I may or may not have to pay for. Is any of that worth it for a $23 coin? Nope. So now I have a slightly shinier one ounce of silver at a spot today of $17 and change.

    I just wasted $6 for the piece of junk they mailed me. This post is the only energy I will invest in complaining about it. I will skip Provident in the future for anything numismatic or semi-numismatic.
    Last edited: Jan 25, 2017
  5. Lylelovett666

    Lylelovett666 Member

    I've read good things about provident return policies. I'd contact them. I've never returned anything to them but I did have an order disappear. They took care of it asap. I also had a money order dissaper in the mail & when they didn't get it in a timely fashion they were very understanding about the situation. Their customer service is quite good. It won't hurt to inquire.
  6. RhinoEmpire

    RhinoEmpire Hi-Yo (Ag)

    I've been ordering from APMEX for many years and have always been satisfied. I just made my first order from JM Bullion because they had a better price on the 2017 5 oz ATB Effigy ($98.55 vs. $103.50). I saved about .90 on my 1/10 oz American Gold Eagle too. It all adds up I guess.
  7. stoster38

    stoster38 Member Supporter

    Just put in my first order with JM Bullion. Preorder for the 2017 ATB Effigy & a 2017 Koala. Was a few dollars lower than other dealers.
  8. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Perhaps a misunderstanding of terminology. Providence says this on webpage

    " Celebrate the Year of the Rooster with the 2017 1 oz Canadian Silver Maple with Rooster Privy, manufactured by the Royal Canadian Mint. This silver bullion round is made of 1 troy ounce of .9999 fine silver."

    And not advertised as a semi-numismatic coin. But just BU Brilliant uncirculated which could have defects. Not advertised as MS-65 or more where more perfection would be expected.

    "Each of these special edition 2017 Canadian Silver Maples will be shipped in brilliant uncirculated condition as received from the Mint, individually protected in a plastic flip."

    Anyway, I have never bought bullion online except from one of our knowledgeable coin dealers here on CT. Not taking sides, but pricing isn't the key if one expects a choice example Imo. Jim
  9. myownprivy

    myownprivy Well-Known Member

    I don't care for a choice example, as I would never get this graded. This is very big, obvious scuff. They can call it a silver bullion round, but we all know it is "reverse PROOF" silver Maple Leaf with privy mark. A proof coin should not have a big scuff on it where some of the frost is removed.
  10. Bman33

    Bman33 Well-Known Member

    Hmmmh. Provident has a 10oz bar for $.69 over spot. I'm tempted.
  11. Dynoking

    Dynoking Active Member

    Last week it was $.49 over spot for 100oz bars and 20 1oz rounds in tube during a 12 - 4 PM 4 hour flash sale. The rounds where sold out when I tried at 2 PM and 100oz bars do not fit in my dollar cost averaging entry strategy.
    $.69 is a good price but now that I've seen it for $.49...
  12. Bman33

    Bman33 Well-Known Member

    Not a big fan of 100oz bars because of the bigger target for counter fitters. But yeah, once you see $.49 that makes other deals slightly higher not look that great. But if you get 20 rounds you're not looking at much of a difference($4.00). Those small differences can add up a lot if you buy a lot though.
    Dynoking likes this.
  13. sakata

    sakata Devil's Advocate

    There is no best. I have bought from several and always buy from the ones with the lowest price (including shipping ) at the time. As long as they have an established reputation (and as far as I can tell all those mentioned here do) then you will not go wrong this way.

    Just for the record, I most frequently buy from Apmex and Gainsville, but have also bought from about 5 others. Bear in mind that the best price often depends on how much you buy.
    Alegandron likes this.
  14. Ben in Florida

    Ben in Florida New Member

    Haven't bought yet but just did a comparison:

    Company - 10oz Gold Price - Shipping Cost - Total
    SD Bullion $ 12,496.70 $ 7.77 $ 12,504.47
    Provident Metals $ 12,616.80 $ - $ 12,616.80
    Money Metals Exchange $ 12,684.50 $ - $ 12,684.50
    Apmex $ 12,710.90 $ - $ 12,710.90
    JM Bullion $ 12,727.20 $ - $ 12,727.20

    Note that with SD Bullion this is 10 1z bars, and with the other ones it is 1 10oz bar.

    Is there a reason that I shouldn't go with SD Bullion and save $100-$200 on this order?
    Last edited: Mar 6, 2017
    Alegandron likes this.
  15. Ben in Florida

    Ben in Florida New Member

    There are also two shops in my local area that fall somewhere in the middle of these.
    Last edited: Mar 6, 2017
  16. baseball21

    baseball21 Well-Known Member

    Who makes the bars you're comparing? Not all bars are created equally
  17. Ben in Florida

    Ben in Florida New Member

    Ah, ok.

    For SD Bullion it is Republic Metals

    For all of the others, it is a 10oz bar from PAMP, e.g. this one:

    Of course the prices have changed a bit since yesterday's post.

    Current prices:

    SD Bullion $12,440 (including shipping) - 10 Republic Metals 1oz bars

    1 10oz PAMP bar:
    Provident Metals $ 12,552.00 $ 12,606.60
    Money Metals Exchange $ 12,624.00
    William Youngerman $ 12,640.00
    Fisher Precious Metals $ 12,644.70
    Apmex $ 12,647.00
    JM Bullion $ 12,665.00

    (William Youngerman and Fisher Precious Metals are local to me)

    Which brand(s) is/are the most respected in the bar producing field?

    Alegandron likes this.
  18. baseball21

    baseball21 Well-Known Member

    Kind of a double edged sword with these examples. Company vs company PAMP should be more liquid, but 10oz gold bars have a very small potential buyer base vs 1 oz.

    PAMP, Perth, APEX, Provident, RCM all make bars that the vast majority of people would know. The more well known a company is the more liquid they are and at least some of that pricing difference is likely due to the different companies. Basically same reasons why a Gold Eagle has a premium over a random generic gold round
  19. Ben in Florida

    Ben in Florida New Member

    Thanks. I was told PAMP, Sunshine, and RMC were the most popular producers sold by JM Bullion's customer service person. (Did you mean RMC not RCM?)
  20. Ben in Florida

    Ben in Florida New Member

    Oh I see. Royal Canadian Mint vs Republic Metals Corporation. nevermind.
  21. stoster38

    stoster38 Member Supporter

    I sent a couple of checks to 2 different coin dealers on 2/27/2017. On 3/2/2017 Gainesville emailed me to notify me that my check had been received. The other check went to JM Bullion and I chatted with them this morning. They still had not received my check.

    The CSR advised me to wait until the end of the week before sending out another check. If they don't have it by then and I do send out another check I would ask for tracking on it.

    However I'm torn about whether or not I should put a stop payment on the first check. The bank charges $25 dollars for that service. So not only would I be paying extra to add tracking to a second check but then I would have to pay an extra $25 to stop payment on the check!! :-(

    I've only had one other order with JM Bullion and there was no problem. Anyone else have a similar issue with JM and what did you do? If I don't stop payment on the first check, and JM cashes it, will they refund the extra payment? Granted I know some of these questions only JM can answer. Just wondered if anyone else had gone through something similar with them.

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