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Any knowledge or experience here with BullionByPost.com?

Batman23Batman23 Posts: 4,998 ✭✭✭✭✭
edited February 1, 2021 11:55AM in Precious Metals

My father was looking at some bullion and he was asking me about BullionByPost. I had not heard of it and I said APMEX seems to be the go-to that I am familiar with. He said that he has looked at the reviews and everything looks good and legit and he has a deal set up but wanted confirmation before pulling the trigger on it. Since I don't follow the bullion offerings I am not overly helpful here but I figured that you guys would be my best source for real life experience.

What are your thoughts on BullionByPost?

Would you order from BullionByPost or APMEX or somewhere else? And what is your primary reason for that choice?

Thanks in advance for any comments and experiences.

Comments

  • MsMorrisineMsMorrisine Posts: 32,004 ✭✭✭✭✭

    "sets up a deal" buying PMs

    that smells right there. you choose the form of metal (ASE, bars, rounds), then buy it and you buy it from in stock inventory as much as possible..

    BullionByPost is a British online bullion dealer based in Birmingham, which delivers gold and silver bars and coins to customers through the post. It is the UK's biggest online gold dealer. Wikipedia

    is he in the uk?

    APMEX generally does not have the best prices. it pays to shop around.

    I would suggest shopping around.

    ok, apmex
    sd bullion
    moderncoinmart
    jmbullion
    provident metals
    kitco
    bgasc

    100 ounce bars are hard to re-sell.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Batman23Batman23 Posts: 4,998 ✭✭✭✭✭

    He is locked into a purchase, just needs to wire the money buy a certain time.

  • Batman23Batman23 Posts: 4,998 ✭✭✭✭✭

    Looks like bullionbypost.com has a U.S. location and ships free within the US.

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited February 1, 2021 9:41AM

    @Batman23 said:
    He is locked into a purchase, just needs to wire the money buy a certain time.

    then he is not locked into a purchase. Tell him to walk away. He might contact them and give a sad financial story.
    Buy USA especially when it comes to bullion.

    Find what he wants on ebay, price it and then go from there. Many of the bullion dealers have an ebay presence at the same price as their website:

    I do business with dbscoins.com ask for David and verify in stock before placing an order.

    What is dad looking to buy and out of curiosity what price did the Brits offer?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • Batman23Batman23 Posts: 4,998 ✭✭✭✭✭

    He said he is looking at 1 OZ gold Britannia coins and some silver 1 OZ coins they were offering. He seemed to think that was his best deal to spot with a legitimate coin.

    My preference would be eagles, buffalos or Maple Leafs. Generally I think Maple Leafs are closer to spot from what I have seen in the past.

  • MsMorrisineMsMorrisine Posts: 32,004 ✭✭✭✭✭

    if there is a "time" to buy or not, then he is not locked in.

    if bullionbypost says he is, then I don't like that.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Batman23Batman23 Posts: 4,998 ✭✭✭✭✭

    My problem is I am at work and he just sprung this on me. I don't order bullion so I don't know the normal steps and I don't have a great understanding of where he is at. I did not like when he said he has not been able to get them on the phone.

    Price on the gold one ounce Britannia he said was $1,915 or $1,945 or something like that. I did not write it down. About a hundred dollars less than I see Bufallos on Ebay APMEX.

  • MsMorrisineMsMorrisine Posts: 32,004 ✭✭✭✭✭

    there is a silver feeding frenzy since over the weekend. it could be something -- it could be nothing that it is hard to reach them on the phone

    https://sdbullion.com/gold/british-royal-mint-gold-coins/gold-britannia-coins

    just make sure they are actually in stock.

    usually one sees the gold, you have to go through the checkout where your price is locked first, then you do the wire ... or send a check

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Batman23Batman23 Posts: 4,998 ✭✭✭✭✭

    @MsMorrisine said:
    if there is a "time" to buy or not, then he is not locked in.

    if bullionbypost says he is, then I don't like that.

    He made it sound like he was locked into a price and had a certain amount of time to wire the money to keep that price. That time deadline is coming up in a few hours. For us, the banks are just now opening up after the weekend.

    Is this type of ordering and payment not normal?

  • MsMorrisineMsMorrisine Posts: 32,004 ✭✭✭✭✭

    and it is once the checkout is done is when the buyer is locked into the seller.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • TomBTomB Posts: 20,591 ✭✭✭✭✭

    The way I read this post is that your dad isn't sure about what he is doing and you aren't sure of what you are doing, either. In such a case, it seems irresponsible to buy the product until you are both educated better.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • Batman23Batman23 Posts: 4,998 ✭✭✭✭✭

    @TomB said:
    The way I read this post is that your dad isn't sure about what he is doing and you aren't sure of what you are doing, either. In such a case, it seems irresponsible to buy the product until you are both educated better.

    I don't disagree with that statement. I think he knows enough that in his mind he had what he thinks he wants at the price he is comfortable with. He said he has done some research (which amounts to internet searching) and feels comfortable with the reviews found for this seller. He just thought to ask me last minute to see if I could find anything, good or bad. He is a retired man that wants a little gold but he is not feeble or in need of help. Might be a little technologically challenged is all.

    I'm not seeing a definite NO here. I'm seeing other great options other than this particular dealer, which might in itself be a clue. What I am not seeing is any responses with experiences that say this is a good seller to buy from or a seller to stay away from.

  • Batman23Batman23 Posts: 4,998 ✭✭✭✭✭

    I edited my title to specifically reflect the dealer of subject. Looking for good, bad or indifferent replies.

    Thank you for the names of the other trusted places, I will keep them in mind and pass them along.

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    Bullion buying is not something you do in a rush and definitely not something you do because of a frenzy. Odds are if he waits, does more research on sources he will likely get a better product and a price.

    Tell him that gold is not going to the moon tomorrow, it will take at least a couple of weeks. lol.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

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