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Preordering Gold and Silver Bullion online

tyler267tyler267 Posts: 1,232 ✭✭✭✭

I'm getting old and don't like stress so I am going to continue with in person purchases. I like walking out with the metal.

Not to list specific names but some websites are selling precious metals that have estimated ship dates of 2 or more weeks, makes me nervous because of the past business failures in this space.

I'm don't know how the wholesale side of the business works, but do wholesalers require order prepayment by the retailers, or do the retailers pay for product at the time of shipment/delivery. If payment is at time of shipment/delivery these companies must be sitting on a lot of customer cash.

Do wholesalers grant credit to the retailers or everything prepaid/cod?

Is it common for online retailers to have the product drop shipped?

No real reason to ask these questions other than curiosity.

Thanks in advance for your insight.

Comments

  • derrybderryb Posts: 36,013 ✭✭✭✭✭
    edited May 6, 2022 1:29PM

    A trusted bullion dealer on eBay such as bullion exchange will offer quick shipment, buyer protection and competitive prices. I'm sure others here can recommend additional reputable ebay sellers.

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

  • MilesWaitsMilesWaits Posts: 5,296 ✭✭✭✭✭

    I don’t blame you. The delivery times can be very unpredictable and the extra stress may not be worth it so I absolutely understand immediate purchase. And your local coin shop will appreciate your business.

    Now riding the swell in PM's and surf.
  • blitzdudeblitzdude Posts: 5,281 ✭✭✭✭✭
    edited May 6, 2022 2:04PM

    I've recently purchased online from Apmex, Silver Gold Bull, Liberty, Pinehurst, and DBS (all gold of course) and no delays in shipment whatsoever, everything shipped within 1-2 business days of cleared payment. Recent purchase from bullion exchange took a bit longer and what I received was nowhere near the condition that they advertised so I am done with them going forward. Plenty of places shipping normally. If someone is weeks on backorder I'd be very weary of purchasing there, sounds like the next Hanes Tulving. Also nothing wrong with the LCS if you have a good one. Choices in my area are mostly con artists or too far to be practical. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • pmh1nicpmh1nic Posts: 3,116 ✭✭✭✭✭

    I've only hand one bad experience with an online dealer. It didn't cost my money but it was aggravating; ten days to clear a check after it was received, two relatively expensive coins going from in stock to a four week deliver AFTER my order was placed/confirmed and then shipping the wrong dates. Other than that, after numerous transactions, no issues with clearing funds, long delays in shipping or not getting exactly what I ordered. With the internet and high visibility that comes with online reviews and forums the bad ones have become easier to identify.

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
  • derrybderryb Posts: 36,013 ✭✭✭✭✭
    edited May 25, 2022 12:16PM

    @blitzdude said:
    Recent purchase from bullion exchange took a bit longer and what I received was nowhere near the condition that they advertised so I am done with them going forward.

    Many purchases from Bullion Exchange on Ebay. Always at the best price available, always great quality and always fast shipping. I suspect your problem is not with Bullion Exchange but with the fact I recommend them. Disagree with me all you wish even if for the sake of disagreeing, but at least be honest with your other forum members. Warmest RGDS.

    Edited to add: I now deal with BE and APMEX directly from their website and save a few bucks. They continue to prove their reliability and I have no reservation sending them a wire for large orders and a check for smaller orders. Received four MS 70 gold buffs, five 10 oz Asahi silver bars and a $5 AGE from them just this week.

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

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    Along with the others mentioned above, I've never had an issue with JM Bullion, Not sure if JM Bullion has an ebay account.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • blitzdudeblitzdude Posts: 5,281 ✭✭✭✭✭

    @derryb said:

    @blitzdude said:
    Recent purchase from bullion exchange took a bit longer and what I received was nowhere near the condition that they advertised so I am done with them going forward.

    Many purchases from Bullion Exchange on Ebay. Always at the best price available, always great quality and always fast shipping. I suspect your problem is not with Bullion Exchange but with the fact I recommend them. Disagree with me all you wish even if for the sake of disagreeing, but least be honest with your other forum members. Warmest RGDS.

    Had multiple good transactions with Bullion Exchange via eBay in the past. The last and final one was not. Let me know when you're ready to buy, I'm cheaper than they are and I will send you what was advertised.

    PS JM Bullion has been good in the past but no recent transactions with them.

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,013 ✭✭✭✭✭
    edited May 7, 2022 4:39AM

    @blitzdude said:

    Had multiple good transactions with Bullion Exchange via eBay in the past. The last and final one was not. Let me know when you're ready to buy, I'm cheaper than they are and I will send you what was advertised.

    Thanks, but according to you your silver carries bad karma.

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

  • johnny9434johnny9434 Posts: 27,310 ✭✭✭✭✭

    I e had good luck with dbs and bullion exchange.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Thanks for the recommendations... I am not currently buying for my stacks, but will keep these in mind. Cheers, RickO

  • RarityRarity Posts: 1,409 ✭✭✭✭

    Recently, I bought my gold bullion coin in Apmex very late Friday night. I completed the transaction and payment online in less than 3 minutes. The coin was confirmed and I received it the following week. I had had many transactions with Apmex in the past and never had any issue.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Recent orders with JM Bullion, Apmex, Pinehurst and Stuppler (Mint State Gold). No problems here.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,013 ✭✭✭✭✭

    Liberty Coin on ebay is another top notch seller.

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

  • PhillyJoePhillyJoe Posts: 2,675 ✭✭✭✭

    When I see something I like from a dealer such as APMEX, it’s always cheaper to buy from their website as opposed to their eBay listing for the same item.

    The Philadelphia Mint: making coins since 1792. We make money by making money. Now in our 225th year thanks to no competition. image
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