Bullion distribuitors getting ready for a silver adjustment?
RobertS
Posts: 485
I noticed that the scumbags at APMEX have been coming up with all kind of sales for silver products "not the best prices around" but still cheaper than what they normally charge, I also noticed Tulving price over spot is the lowest they have had over the last couple months and they seem to have everything in stock. Is this a sign of the summer slow down or a correction is around the corner?
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Comments
Repetition of ignorance is ignorance raised to the power two.
<< <i>Perhaps the Law Of Supply And Demand is still in effect? >>
I vaguely remember that theory from my H.S. Economics 101 class. You mean it is still applicable?
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>"Scumbags" doesn't seem to be applicable here. >>
Do I detect some sour grapes in your comment? Perhaps you should change your - "New collectors, please educate yourself before spending money on coins"...to money on bullion-
In God We Trust.... all others pay in Gold and Silver!
I knew it would happen.
<< <i>I think that the only way to get a non-cherrypicked example now is to order a roll of (10) coins from Prudential. Apmex is now doing whatever they want because the Mint is setting no constraints on their APs. >>
Prudential is such a pain with the way they have you buy from them but you have to wait for the paperwork to have their depository release the coins after you send a second check to the depository.
Repetition of ignorance is ignorance raised to the power two.
<< <i>
<< <i>"Scumbags" doesn't seem to be applicable here. >>
Do I detect some sour grapes in your comment? Perhaps you should change your - "New collectors, please educate yourself before spending money on coins"...to money on bullion-
Nah, I just don't see the connection between "scumbags" and selling things cheaper than they normally charge. Maybe there's a backstory I'm not aware of, or I'm not seeing something that's plainly in front of my face.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>"Scumbags" doesn't seem to be applicable here. >>
Lol that is a matter of opinion...
<< <i>RobertS, why are down on APMEX? >>
I am certain that by now you have read the pucks thread on the us coin forum, but if you have not then maybe you should!!!
A price war would be nice indeed!!!
<< <i>
<< <i>"Scumbags" doesn't seem to be applicable here. >>
Lol that is a matter of opinion...
<< <i>RobertS, why are down on APMEX? >>
I am certain that by now you have read the pucks thread on the us coin forum, but if you have not then maybe you should!!!
A price war would be nice indeed!!! >>
Why would you refer to Apmex as "scumbags"?
I have dealt with them a handful of times but have no qualms about dealing with them again. You certainly have other options for spending your money.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>
Why would you refer to Apmex as "scumbags"?
I have dealt with them a handful of times but have no qualms about dealing with them again. You certainly have other options for spending your money. >>
I already answered that question with the following statement "I am certain that by now you have read the pucks thread on the us coin forum, but if you have not then maybe you should!!!". I am not complaining about the lower prices, it is refreshing to see fees a little lower.
<< <i>
<< <i>
Why would you refer to Apmex as "scumbags"?
I have dealt with them a handful of times but have no qualms about dealing with them again. You certainly have other options for spending your money. >>
I already answered that question with the following statement "I am certain that by now you have read the pucks thread on the us coin forum, but if you have not then maybe you should!!!". I am not complaining about the lower prices, it is refreshing to see fees a little lower. >>
Are you referring to the mega bleeding heart whiner thread?
<< <i>
<< <i>
Why would you refer to Apmex as "scumbags"?
I have dealt with them a handful of times but have no qualms about dealing with them again. You certainly have other options for spending your money. >>
I already answered that question with the following statement "I am certain that by now you have read the pucks thread on the us coin forum, but if you have not then maybe you should!!!". I am not complaining about the lower prices, it is refreshing to see fees a little lower. >>
Why not cut to the chase and explain why YOU chose to characterize Apmex as scumbags?
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>
<< <i>
<< <i>
Why would you refer to Apmex as "scumbags"?
I have dealt with them a handful of times but have no qualms about dealing with them again. You certainly have other options for spending your money. >>
I already answered that question with the following statement "I am certain that by now you have read the pucks thread on the us coin forum, but if you have not then maybe you should!!!". I am not complaining about the lower prices, it is refreshing to see fees a little lower. >>
Why not cut to the chase and explain why YOU chose to characterize Apmex as scumbags? >>
I do not think I owe you any explanations, my opinion is my opinion and I believe that I am entitled to it. With that said, you seem to be more interested in why I think they are scumbags than about the topic at hand, then feel free to read the thread posted... This thread is about the price drops on the fee's Bullion distributors charge.
In God We Trust.... all others pay in Gold and Silver!
I happen to disagree with your name calling and have dealt with APMEX for several years without ever having an issue.
Aren't they made out of zinc or something, I was going to purchase a few to use as beer coasters.
<< <i>But I believe you do owe us an explanation...after all the first seven words of your thread started...."I noticed that the scumbags at APMEX"
I happen to disagree with your name calling and have dealt with APMEX for several years without ever having an issue. >>
The day you start paying my bills then maybe you can demand something from me, until then I guess my previous answer will have to do.
<< <i>I've just been hearing about the puck and looked at some pictures, a giant coin with a 25 cent denomination.
Aren't they made out of zinc or something, I was going to purchase a few to use as beer coasters.
Lol good one
<< <i>
<< <i>Perhaps the Law Of Supply And Demand is still in effect? >>
I vaguely remember that theory from my H.S. Economics 101 class. You mean it is still applicable?
This. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
TD
I guess those of us that are puck fanatics are in a different world. We venture out into the rest of the coin world and the viewpoint changes dramatically. Makes me all the more convinced that those of us who have vowed to never do business with that company again will have zero impact. But for me it is the prinipal of the matter and your opinion is shared. For those who don't have that opinion.............well............er............ok.
Maine_Jim
<< <i>RobertS - If you happen to have missed the issue some have with Apmex it can be summarized as such. A large number of first time Apmex customers who's first purchase from Apmex was a set of pucks was sent a presorted set of cull pucks while most repeat customers were sent high grade coins. If you think this is an appropriate way to distribute the pucks then that is fine. I was a first time Apmex customer and was sent a box of culls. It was an illuminating introduction to the Apmex high quality service and gave great insight into their opinion of new customers. The best part was the hilariously funny part of placing of an "a" on the boxes which contained the worst coins while the best coins received a "d" graded boxes. At least someone at Apmex has a sense of humor!
Maine_Jim >>
Hard to say how "random" the shipments really were. They were certainly up to something and then had to 180 when the Mint brought up the certification thing. There was absolutely no reason to slab unless they were doing it like AMARK. I guess they could have taken the letters out, but people would have still realized there was some grouping going on. Either way, the fact that they waited so long and then obviously had some alterior motives is enough for me to sign off on them and look to other places first when I'm looking to purchase something.
instead, i believe most of them are are algaesatchels, although a few are better described as bathtub-residuepurses. One is literally a valise of detritus.
all of them try to run a business, though, you have to give them that
Liberty: Parent of Science & Industry
<< <i>it is my opinion that they are not scumbags.
instead, i believe most of them are are algaesatchels, although a few are better described as bathtub-residuepurses. One is literally a valise of detritus.
all of them try to run a business, though, you have to give them that
Do you have a BS degree in: Bovine Scatology?
<< <i>RobertS - If you happen to have missed the issue some have with Apmex it can be summarized as such. A large number of first time Apmex customers who's first purchase from Apmex was a set of pucks was sent a presorted set of cull pucks while most repeat customers were sent high grade coins. If you think this is an appropriate way to distribute the pucks then that is fine. I was a first time Apmex customer and was sent a box of culls. It was an illuminating introduction to the Apmex high quality service and gave great insight into their opinion of new customers. The best part was the hilariously funny part of placing of an "a" on the boxes which contained the worst coins while the best coins received a "d" graded boxes. At least someone at Apmex has a sense of humor! >>
Must be true, I got a D box. I'm glad to know my customer loyalty is worth something.
Repetition of ignorance is ignorance raised to the power two.
<< <i>Must be true, I got a D box. I'm glad to know my customer loyalty is worth something.
Has any loyal Apmex customer reported receiving an "a" box? If so they should be the ones that are really PO'd.
I'm glad you are happy with what you received and I would be too if I received it.
Apmex purposely shipped me, a new customer, a box of dregs. My opinion of them is now not very high. Before this episode I had a fairly good opinion of Apmex. It appears in your view that Apmex did the right thing and made a good business decision by rewarding loyalty.
If I was a newbie and was planning on investing I would be most interested in how new customers have historically been treated by Apmex. I might be inclined to look elsewhere when opening my wallet.
Maine_Jim
<< <i>How does that saying go, do something good and ten people hear about it. Do something bad and hundreds hear about it. Not a way to do business unless you have so many customers, you don't need to grow. >>
Reality check 101.
It all depends on: who's doing the crying. If it's your one time "puck" customer, I'm sure they won't be missed, but if it's your established repeat customer, that's a different story. Ever hear of the saying: Money talks, bs walks? Most recent example would be the US Mint's refusal to investigate the AP's ( their cash cows) in the "puck" fiasco. Welcome to the real world and learn to move with it.
Apmex rates about even in my book. I was a repeat customer who was quite miffed that they didn't contact me about the pucks after I had signed up for the 5-coin sets and also for the individual coins way back when. Instead, they made a run for a quick score by overpricing the pucks in flagrant violation of their Mint distributorship agreement to sell the pucks at a nominal markup - and I was hoping they'd lose their distributorship for doing that.
When they finally did decide to sell the pucks at bullion pricing and then decided to reward their past customers - they only did what I think that the Mint should be doing all along - giving some consideration to loyal customers. Every business finds a way to reward loyalty in their customer base, and doing that was in no way contrary to their bullion distribution agreement.
Everyone got the same amount of bullion silver at exactly the same price. Since it is obvious what they did by sending out varying quality sets to customers on the basis of prior business, it should also be obvious to the new customers that there is an advantage in continuing to do business with them. It's not a bad business model. Customer loyalty SHOULD be worth something.
I knew it would happen.
I at least give them credit for that. I would be considered a rather new customer, since the only thing I purchased from Apmex was a 1/10 oz platinum coin from them in 08.
Box of 20
In God We Trust.... all others pay in Gold and Silver!