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Free Shipping at Provident Metals

Coins101Coins101 Posts: 2,602 ✭✭✭
in Precious Metals
Free Shipping at Provident Metals on 10oz OPM bars is back - $1.19 over spot.

Comments

  • vprvpr Posts: 606 ✭✭✭
    It looks like prices might drop a bit tonight. I already added a couple of things to my cart. Might just wait till tomorrow to check out.
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • vprvpr Posts: 606 ✭✭✭
    I just bought on the drop. 1 oz of gold and 10 oz of silver.

    I got the off quality 1 oz government mint gold coin. One review suggests that it will be a krugerrand. I'm really hoping for a maple. Either way, at $23 over spot, it's a great deal!
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>I just bought on the drop. 1 oz of gold and 10 oz of silver.

    I got the off quality 1 oz government mint gold coin. One review suggests that it will be a krugerrand. I'm really hoping for a maple. Either way, at $23 over spot, it's a great deal! >>



    What would you expect to be able to sell that off-quality gold for? $10 over spot?
    theknowitalltroll;
  • vprvpr Posts: 606 ✭✭✭
    I'd be OK with $10 over spot. I was trying to decide between this and the OPM bar for $13 over spot, but I wanted something I could touch and feel. : ) The OPM bar is encased in plastic.
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    It looks like they will pay at least spot for it if you sold them back. IIRC most dealers would consider that junk gold and probably offer you 3-5% back of spot.
    theknowitalltroll;
  • vprvpr Posts: 606 ✭✭✭


    << <i>It looks like they will pay at least spot for it if you sold them back. IIRC most dealers would consider that junk gold and probably offer you 3-5% back of spot. >>



    I would never sell to a dealer. When prices rise, I'm sure I'll be able to find individuals willing to pay $10 over spot. If prices fall back to $400, then it won't really matter much. I'd be losing so much that I won't care about losing an extra $10-20 dollars.

    Now, let's see how bad the coin looks. I will post pictures when I receive it.
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>It looks like they will pay at least spot for it if you sold them back. IIRC most dealers would consider that junk gold and probably offer you 3-5% back of spot. >>



    I would never sell to a dealer. When prices rise, I'm sure I'll be able to find individuals willing to pay $10 over spot. If prices fall back to $400, then it won't really matter much. I'd be losing so much that I won't care about losing an extra $10-20 dollars.

    Now, let's see how bad the coin looks. I will post pictures when I receive it. >>



    If you find a buyer hopefully you won't have to pay shipping. Even at G$1,000 an ounce registered or express shipping will cost you.
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>It looks like they will pay at least spot for it if you sold them back. IIRC most dealers would consider that junk gold and probably offer you 3-5% back of spot. >>



    I would never sell to a dealer. When prices rise, I'm sure I'll be able to find individuals willing to pay $10 over spot. If prices fall back to $400, then it won't really matter much. I'd be losing so much that I won't care about losing an extra $10-20 dollars.

    Now, let's see how bad the coin looks. I will post pictures when I receive it. >>



    I agree with you that if one wants the most gold for the least amount of money that these off quality/blemished coins are the way to go. Not a bad thing if you plan to keep them long term. However they can be hard to sell. $10 over spot is good if you can find a local buyer. Many customers don't want blemished coins. So one thing is to consider the market to sell into when the sell time comes. Provident will buy them back for spot it looks like, but will probably expect fast/overnite delivery. Seems to me that for the slight extra premium the liquidity of sealed bars mite be worth it. AGEs and Maple Leafs are even more liquid/easier to sell. It's sorta like slabbed vs raw, NGC vs PCGS, CAC vs nonCAC in that it behooves the buyer to buy what the market will want when it comes time to sell. Nothing wrong with a Maverick approach if one is willing to accept the limitations that go with it.
    I remember back in the 70s that if one had a silver bar that was removed from its original packaging that one likely had to get it re-assayed in order to sell it.
    theknowitalltroll;
  • bronco2078bronco2078 Posts: 10,202 ✭✭✭✭✭



    Whether its +$10 or -$20 from spot means nothing anymore when gold can swing $40 or even $80 either way in the course of a day.

    +10 at this moment would get you 1227 +10 3 hours ago it would get you only 1200. Three hours wait pulling the trigger means more to the sell price than what coin you bought .


    Heck you can lose $50 an ounce if Bernanke wears a red tie to his testimony image Buy the most ounces for the buck and hope prices go up.
  • nibannynibanny Posts: 2,761 ✭


    << <i> and hope prices go up. >>



    That's the point. If it goes up, $10 over or under spot doesn't make any difference.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>Whether its +$10 or -$20 from spot means nothing anymore when gold can swing $40 or even $80 either way in the course of a day.

    +10 at this moment would get you 1227 +10 3 hours ago it would get you only 1200. Three hours wait pulling the trigger means more to the sell price than what coin you bought .


    Heck you can lose $50 an ounce if Bernanke wears a red tie to his testimony image Buy the most ounces for the buck and hope prices go up. >>



    At least you can lock in your price and it should be a done deal on both sides. Hopefully the agreed to price will at least assure you of a small profit.
    theknowitalltroll;
  • Coins101Coins101 Posts: 2,602 ✭✭✭
    I was looking at buying 20 of those 10oz OPM bars as well a few of the gold OPM bars last night but decided to wait. I guess I will still wait and see how this blip plays out.
  • tneigtneig Posts: 1,505 ✭✭✭
    Also, not a bad price time to buy something different like the Freedom girl proof for $36, if you wanted it.
    COA
  • vprvpr Posts: 606 ✭✭✭


    << <i>

    << <i>

    << <i>It looks like they will pay at least spot for it if you sold them back. IIRC most dealers would consider that junk gold and probably offer you 3-5% back of spot. >>



    I would never sell to a dealer. When prices rise, I'm sure I'll be able to find individuals willing to pay $10 over spot. If prices fall back to $400, then it won't really matter much. I'd be losing so much that I won't care about losing an extra $10-20 dollars.

    Now, let's see how bad the coin looks. I will post pictures when I receive it. >>



    I agree with you that if one wants the most gold for the least amount of money that these off quality/blemished coins are the way to go. Not a bad thing if you plan to keep them long term. However they can be hard to sell. $10 over spot is good if you can find a local buyer. Many customers don't want blemished coins. So one thing is to consider the market to sell into when the sell time comes. Provident will buy them back for spot it looks like, but will probably expect fast/overnite delivery. Seems to me that for the slight extra premium the liquidity of sealed bars mite be worth it. AGEs and Maple Leafs are even more liquid/easier to sell. It's sorta like slabbed vs raw, NGC vs PCGS, CAC vs nonCAC in that it behooves the buyer to buy what the market will want when it comes time to sell. Nothing wrong with a Maverick approach if one is willing to accept the limitations that go with it.
    I remember back in the 70s that if one had a silver bar that was removed from its original packaging that one likely had to get it re-assayed in order to sell it. >>



    Ah, I see your point. Should have just picked up the 1 oz OPM bar, or spent a bit more and got a Pamp bar or a BU Maple. Oh well, I might just offer it up on here + cash and trade for a $20 gold coin. Or sell it locally and buy a $20 gold piece from here. I think the coin will be in good condition. I do have a local contact. He might buy it for $15 over.
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>It looks like they will pay at least spot for it if you sold them back. IIRC most dealers would consider that junk gold and probably offer you 3-5% back of spot. >>



    I would never sell to a dealer. When prices rise, I'm sure I'll be able to find individuals willing to pay $10 over spot. If prices fall back to $400, then it won't really matter much. I'd be losing so much that I won't care about losing an extra $10-20 dollars.

    Now, let's see how bad the coin looks. I will post pictures when I receive it. >>



    I agree with you that if one wants the most gold for the least amount of money that these off quality/blemished coins are the way to go. Not a bad thing if you plan to keep them long term. However they can be hard to sell. $10 over spot is good if you can find a local buyer. Many customers don't want blemished coins. So one thing is to consider the market to sell into when the sell time comes. Provident will buy them back for spot it looks like, but will probably expect fast/overnite delivery. Seems to me that for the slight extra premium the liquidity of sealed bars mite be worth it. AGEs and Maple Leafs are even more liquid/easier to sell. It's sorta like slabbed vs raw, NGC vs PCGS, CAC vs nonCAC in that it behooves the buyer to buy what the market will want when it comes time to sell. Nothing wrong with a Maverick approach if one is willing to accept the limitations that go with it.
    I remember back in the 70s that if one had a silver bar that was removed from its original packaging that one likely had to get it re-assayed in order to sell it. >>



    Ah, I see your point. Should have just picked up the 1 oz OPM bar, or spent a bit more and got a Pamp bar or a BU Maple. Oh well, I might just offer it up on here + cash and trade for a $20 gold coin. Or sell it locally and buy a $20 gold piece from here. I think the coin will be in good condition. I do have a local contact. He might buy it for $15 over. >>



    As long as you have confidence in your ability to get it sold when you decide it's time to sell I think you did ok.
    theknowitalltroll;
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