Modern Coin Mart Bullion

gee whiz. why so expensive?

http://www.moderncoinmart.com/store...e-.999-fine-silver-shipping-begins-04-17.html

http://www.moderncoinmart.com/store/mcm-star-bullion/

 

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Because people are buying them at that price.

 

they've only been available since noon today. woops

 

They probably ordered them months ago when silver was much higher. TC

 

They have also become considerably more expensive than Provident and Mint Products in terms of their premium on other world bullion coins. That is even taking into account their "free" (and we all know very few things are) shipping.

I live very near them and have always supported them, but I must say I am very disappointed in their pricing lately. I have taken them out of my top 5 and will be making them sit in the corner for a while, for quite a while I think. I know 1 person probably doesn't make that much of a difference, but their recent behavior is very off-putting to me.

 

Yeah I know the shipping is "free" but 2013 ASE's at $10 over spot isn't exactly free shipping.

 

MCM isn't the place to go if you are looking for multiple ounces. I only use them through eBay when I am looking to purchase one coin at a time. Their free shipping makes them cheaper than apmex and provident when ordering in small quantities.

 

Hi there! A few comments to address the concerns raised. Right now, premiums are very high as you all know. That changes according to supply and demand. The MCM Star Bullion line is a high end product in terms of quality and will never be priced at the lower end of the scale. It's true our other bullion prices are not the lowest. However, there are some things that set us apart from the herd and while they may not matter to everyone they do matter to many people. First, we almost never sell what we don't have and if we do we make it clear. Second, we have more shippers and customer service people than many other companies have in total employees. Third, our in stock selection of the most common products is usually more substantial than others. Fourth, we do not charge for domestic shipping and when factored in with volume discounts when offered, we often come in line with most others in pricing. Fifth, if a problem comes up, we're here, even on Saturdays and Sundays. I could go on, but ultimately if price is the only concern I concede we won't win that battle at the present time. We are working diligently to lower sales costs and as we do will pass the savings on when and where we can. Feedback like this is very beneficial to us and I appreciate it very much. -John Maben, MCM

 

Have 2 agree with MCM, I have had nothing but GREAT service from them, and although never had a problem with anything that I have bought from them. They have always answered my questions when I called. Sometimes peace of mind cost alittle bit more. But really it dosent if you really compare. Jim

 

I'm not a panda collector, but at another site they were showing some love for MCM's graded pandas.

Let's be real, I can find some stuff that I think is ridiculous on just about any etailers site...so...

http://www.moderncoinmart.com/store/2013-world-coins/index2.html

 

Hello,
Normally I dont do reviews or say something to a large corporation. However, you seemed to be genuinely concerned about how to improve. I mean, after all, this is your clientele right here. What better FREE way to hear, understand, and possibly, address our concerns?
First and foremost, I am a customer. A multiple purchase customer. So I have skin in the game. I also purchase from other large online retail companies. As well as feeBay. Lets put "price" aside but come back to an aspect of that shortly. I recently made a purchase from APMEX. Basically, the product I ordered was heavily effected in a numismatic manner. I complained to their online sales rep. I was ignored, then after escalating it through both eBay and the BBB due to being ignored; I was contacted by the CEO himself, Michael Haynes. Out of nowhere. Please know I had a thorough dislike for this company until he did. We went back and forth about 5 times by email over a 3 day period. Not only did he do right on the purchase, he explained to me why the situation developed the way it did, identified how to prevent it, and redirected me back to my original customer service contact who "reprocessed" the outcome. He made it very clear my issue and deeper concerns were put to rest, as well as correcting our transaction. I wasn't looking for anything free; I had a valid complaint that highlighted a deeper issue; he addressed it, and showed me how he did.
So, that is your "competition". Without airing any dirty laundry, I shouldn't be to hard to look up in your system by my username here on this forum. An item I purchased didn't arrive in the advertised condition. Same as above; only the purchase size was slightly smaller in this particular incident. I went through the process to be awarded a decision to mail back my item and get an exchange; which would basically increase my cost the amount to mail back the defective item. Back to that issue I alluded to. I am also in the same sunny state, which means you charge sales tax. I do not want to get into legalities, but some other sunny state businesses dont charge tax on that item through feeBay. So I am in for the singular ounce coin cost (marginally higher than multiple ounce purchases) + tax + shipping back. I am in at $44 an ounce when silver was at $31 for this item. Take it from me the people on this forum (a wide range of existing and potential clients) track their individual ounce-age(spelling?) cost. That one took a hit. So I am in for $40 with a damaged item. All I am saying is I shouldn't have to pay for a faulty product or incorrectly shipped item. We are talking about a small purchase, $40, a singular ounce of silver that was necessary to continue a future small gift/hobby-passing-on to a family member. But as my purchase history will show, all it takes is one bad taste and people look around for something sweeter.
I am not trying to bash or cause a problem. I simply wanted to explain part of my reasoning for where/who I decide to make my purchases from. And if you need, I can forward you my entire conversation with Mr Haynes to show you that it appears I just have bad luck with online purchases. I mean, after all, I wouldn't put my money down on the table in person if I didn't like the deal, online purchasing provides a wide variety of selection and normally reasonable pricing with a hint of caution.

 

I like MCM. but there's nothing about their sunshine minted bars that i see that makes them any better than any other generic bar.

 

rysherms- I'd like to fix any additional costs (except sales tax) and replace the product if possible. Please drop me an email john@moderncoinmart.com and I'll take it from there.<br> FryDaddy- I wouldn't consider a bullion product made by SMI to be generic. In fact, I think SMI is the best in quality and I like the fact that they are right here in the U.S. I am sure I have a bias, but to hold one of these in your hand is a thing of joy. The one ounce bar is running on the daily deal page right now on eBay. Hope that isn't construed as a plug, I mention it because there are very good images and description in the listing.

 

no, I appreciate the dialog. Maybe I'll order a few just to take a peek at them. keep posting.

 

I don't know. I see Sunshine Minting rounds in bargain bins all the time.
I don't see these retaining a large premium, but at $6 over on ebay it's more or less in line with everything else right now.

 

why would they be any better than goldmart's cheaper bars? they look good and come sealed in plastic.

 

In my opinion they are worth spot plus a buck or two and whatever it costs to ship them to you.

 

i will email you. and for the record, i am impressed not only with the response but with the speed as well.

 

as a follow up, I emailed you tonight a full explanation of my issue. no rush in replying. I am pretty satisfied already with how you dealt with this.

 

as a follow up, I was immediately contacted by John at Modern Coin Mart and was very impressed. everything appeared to be addressed. today is 5/21/13, a month later, all contact has ended.