Is this precious metals site legit?

JGnumismatics

Hey guys,
Scoring over the internet and found these guys. They claim some pretty lower prices. Anyone ever done business with them? Hidden Charges?


PMX Refinery

lcoopie

compare gold prices

oilstates2003

Some items are below spot .... Hummmm let's see what feedback we get here...

JGnumismatics

<< <i>compare gold prices >>



yeah i've used it

Claims silver eagles 20.45 for a monster

Pokermandude

A webpage that looks like it was thrown together in minutes says customers can buy a box of ASE at spot, or two boxes at 50 cents below spot?

Seems legit.... Not.

JGnumismatics

<< <i>A webpage that looks like it was thrown together in minutes says customers can buy a box of ASE at spot, or two boxes at 50 cents below spot?

Seems legit.... Not. >>



That's what I figured. Then again I know or have heard boston bullion is legit and there site is similar lol

Pokermandude

For fun I loaded up two boxes and applied the code:

NEW CLIENTS ONLY Monster Box 2000 to 2013 American Silver Eagles 500 1 ozt
Monster Box $10,225.00 $20,450.00
Sub-Total: $20,450.00
Coupon(pd45v): $-2,045.00
Total: $18,405.00

$2.50 below spot, coolio.

Nice T&C's too.. Both the terms and the spelling errors.

"Can PMX cancel my order?
Yes. PMX may cancel your order for any reason including but not limited to, item(s) no longer available, item(s) costs exceed clients purchase price etc.
In the event your order is canceled you will receive a FULL refund within 10 business days of cancelation eith exception to order canceled due to default by customer's failure to pay in full."

MsMorrisine

<< <i>For fun I loaded up two boxes and applied the code:

NEW CLIENTS ONLY Monster Box 2000 to 2013 American Silver Eagles 500 1 ozt
Monster Box $10,225.00 $20,450.00
Sub-Total: $20,450.00
Coupon(pd45v): $-2,045.00
Total: $18,405.00

$2.50 below spot, coolio.

Nice T&C's too.. Both the terms and the spelling errors.

"Can PMX cancel my order?
Yes. PMX may cancel your order for any reason including but not limited to, item(s) no longer available, item(s) costs exceed clients purchase price etc.
In the event your order is canceled you will receive a FULL refund within 10 business days of cancelation eith exception to order canceled due to default by customer's failure to pay in full." >>




the price before coupon is below spot.

jmski52

(5) 1 oz Gold Eagles for less than $1,200/ea. = more than $100/oz. under spot. i wouldn't do this even with Baley's money.

guitarwes

This place is about 40 minutes from me. It's a 10X20 trailer in an small cleared field with 2 almost empty glass display cases in it with 1 beat up sterling silver spoon and 1 Kennedy Half Dollar in them. Typical temporary Cash$Gold establishment. They've opened up 2 satellite locations in the past year, one in the town next to me which has already closed.

I did buy some silver proof sets from them at melt and a couple of Silver Eagles on the side from the ditzy blonde who works in there from her "personal collection" for melt.

Edited to add: Stay away from PMX Refinery.

jmski52

There is a legit company in Cedar Rapids by the name of PMX. They compete with Olin to made some of the brass stock for Sacs and Pres Dollars. But they have nothing to do with retail.

nibanny

They even use Apmex pics.

APMEX


PMX

derryb

thanks Wes, the networking here is unbelievable.

lcoopie

youtube

VikingDude

<< <i>It's a 10X20 trailer in an small cleared field . >>



Just saw that on Google Maps street view. I don't think that's a refinery...

tneig

They only have to be legit, until they're not. Your odds depend on whether or not you make the deal before that happens.
Worries me when they call the customer, client.

Timbuk3

Thanks guys !!!

MsMorrisine

<< <i>This place is about 40 minutes from me. It's a 10X20 trailer in an small cleared field with 2 almost empty glass display cases in it with 1 beat up sterling silver spoon and 1 Kennedy Half Dollar in them. Typical temporary Cash$Gold establishment. They've opened up 2 satellite locations in the past year, one in the town next to me which has already closed.

I did buy some silver proof sets from them at melt and a couple of Silver Eagles on the side from the ditzy blonde who works in there from her "personal collection" for melt.

Edited to add: Stay away from PMX Refinery. >>



Stay Away?

Run To!

Give Them A Call and Tell Them You Will Be Down There In An Hour To Buy 2 ASE Monster Boxes At The Online Price! Cash!

jrt103

So i guess the only question about that place is how much cash will they scam out of people until they disappear in the middle of the night and are never seen or heard from again?

$1 million? $2 million? more?

Pokermandude

Noticed this at the top of the main forum index just now:

"Welcome, PMXREFINERY the latest addition to the Collectors Universe forum."

Methinks this thread is about to get interesting.

jmski52

PMX may cancel your order for any reason including but not limited to, item(s) no longer available, item(s) costs exceed clients purchase price etc.
In the event your order is canceled you will receive a FULL refund within 10 business days of cancelation eith exception to order canceled due to default by customer's failure to pay in full."

Homemade legalese for "we can use your money to play the precious metals market" but we don't have to deliver if we lose the bet.

CaptHenway

Paging Santa Claus. Paging Santa Claus.

ThePMXREFINERY

Yes you are correct. PMX has made its appearance. After seeing all the traffic coming from Collectors Universe we researched and found the thread requesting info about our company. We attempted to join so we could address the questions but the WEBmaster took several days to approve us.

First and foremost is how do we sell at or below spot?
We don't!!

We decided to take a new approach to building out client base. Instead of spending $30,000 on a marketing campaign that would be hit or miss, we chose to reduce prices for "NEW CLIENTS' ( yes we call them clients not customers!) TNEIG for their INITIAL PURCHASE. Our mindset is that if you make a potential profit off your first transaction then you will most likely call us for a quote on your second purchase. Most suppliers are within .5-2% of each other. We are banking on our customer service winning our clients over.

Secondly our apologizes

Sorry our web site is not professional enough for some of you guys. POKERMANDUDE
Sorry our gold buying locations are cute enough. GUITARWES
Sorry the ditzy blond sold you products that you made money on TextGUITARWES
Sorry we use stock photos of coins. NIBANNY
Sorry we use word REFINERY in our name as marketing tool. VIKINGDUDE

Thirdly we are rooted

I believe LCOOPIE linked our YouTube commercials which I must say were directed at one time gold sellers not Bullion clients.
You could not scam in this business for long before you receive much negative feedback online. We have NONE...



Finally it is note worthy that NONE of you expert master all-mighty bullion gurus even called to inquire. So good luck in your search for bullion above SPOT....oh wait a minute you can find that anywhere....

ThePMXREFINERY

1-800-706-6373 and we can answer your questions

nibanny

Thanks for taking the time to join the forum and explain your business model.
The marketing strategy makes sense, in my opinion. The tone of your first message on this forum doesn't.
Regarding my point about the pics (for which I don't need any sarcastic apology), I can understand using stock photos, but not others' stock photos..

ThePMXREFINERY

Thanks for the welcome. Was just frustrated that it took days to get approval and none of the forum authors bothered to even call to ask questions.

rawteam1

u might want to address this, as its a game breaker... 8-10 weeks??? why would anyone take that type of risk???...

When will my order be shipped?

Once funds are considered "good" your order will be shipped in 8-10 weeks. In most cases PMX does not physically have possession of items advertised. PMX retains the right to drop ship from both public and private suppliers. Clients who do not agree with this method should not order from PMX. New clients who object by email to objection@pmxrefinery.com within 7 days of receipt of payment may cancel their order by agreeing to a cancellation fee of 10% of total order prediscounts which will be deducted from refund. Please allow 7-10 business days for refund. We will ship Internationally if permited by U.S. laws and by recieving country laws.

bestmr

I agree. That's way too long imo. I'd rather pay a premium and get it now/couple days vs save a buck or two and then cross my fingers and hope for the best.

ThePMXREFINERY

Yes thank you RawTeam1. Majority of items sold are shipped to us after you order. We have no control of suppliers therefore we need enough time to fill the order. we reserve the right to cancel orders and do not extend that right to our clients. I know it seems one sided but we have had issue with order cancellation when there's a sharpe market move. Yes I agree our T&C are most favorable to PMX. But aren't most companies??

MGLICKER

Welcome to the forum!

3stars

<< <i>Sorry we use word REFININERY in our name as marketing tool >>



What's a REFININERY??

guitarwes

<< <i>Yes thank you RawTeam1. Majority of items sold are shipped to us after you order. We have no control of suppliers therefore we need enough time to fill the order. we reserve the right to cancel orders and do not extend that right to our clients. I know it seems one sided but we have had issue with order cancellation when there's a sharpe market move. Yes I agree our T&C are most favorable to PMX. But aren't most companies?? >>



Simple fly-by-night precious metals (Refinery) business model:
"We get caught with our pants down, we have your money and maybe refund it to you one day and we're ok.
You get caught with your pants down, tough crap."

If you can't supply you need not sell.

BAJJERFAN

<< <i>

<< <i>Yes thank you RawTeam1. Majority of items sold are shipped to us after you order. We have no control of suppliers therefore we need enough time to fill the order. we reserve the right to cancel orders and do not extend that right to our clients. I know it seems one sided but we have had issue with order cancellation when there's a sharpe market move. Yes I agree our T&C are most favorable to PMX. But aren't most companies?? >>



Simple fly-by-night precious metals (Refinery) business model:
"We get caught with our pants down, we have your money and maybe refund it to you one day and we're ok.
You get caught with your pants down, tough crap."

If you can't supply you need not sell. >>



Confucious say "Scammer can run faster with pants up, than scamee can run with pants down."

ThePMXREFINERY

Thanks 3 Stars. Typo.. lol

Stork

Using someone else's pictures (stock or otherwise) without permission is not cool. That is all.

derryb

<< <i>. . . we use word REFININERY in our name as marketing tool >>


so potential customers will believe you are something that you are not?



<< <i>Majority of items sold are shipped to us after you order. We have no control of suppliers therefore we need enough time to fill the order. we reserve the right to cancel orders and do not extend that right to our clients. I know it seems one sided but we have had issue with order cancellation when there's a sharpe market move. >>


You're telling me that you'll use my funds to later purchase the inventory. This is a terrible business model and has been demonstrated as such by many sellers who went belly up holding other people's money. You're basically taking orders that you may or may not fill, with the funds in your hands awaiting the outcome (or bankruptcy). Reputable bullion dealers don't sell what they don't have. No thanks, I'll continue to pay a few pennies more with a dealer who has my purchase in stock, ready to ship.

Coupdescrounge

You'll do great on the way down lol.

DrBuster

Is Tulving out of jail??

OPA

<< <i>

<< <i>. . . we use word REFININERY in our name as marketing tool >>


so potential customers will believe you are something that you are not?



<< <i>Majority of items sold are shipped to us after you order. We have no control of suppliers therefore we need enough time to fill the order. we reserve the right to cancel orders and do not extend that right to our clients. I know it seems one sided but we have had issue with order cancellation when there's a sharpe market move. >>


You're telling me that you'll use my funds to later purchase the inventory. This is a terrible business model and has been demonstrated as such by many sellers who went belly up holding other people's money. You're basically taking orders that you may or may not fill, with the funds in your hands awaiting the outcome (or bankruptcy). Reputable bullion dealers don't sell what they don't have. No thanks, I'll continue to pay a few pennies more with a dealer who has my purchase in stock, ready to ship. >>



That makes at least 2 of us.

BAJJERFAN

Unless they plan to lose a little on every sale, but make it up in volume, who in their right mind would sell to them for/at spot? Provident is paying $23+ for 2014 ASEs, so if you can buy em cheaper, sell to Provident. Sounds like someone is hoping that silver tanks which may or may not happen.

7over8

Walks like a duck, looks like a duck, it is.........

I would never send these guys a dime....what? use my money to float your business and expenses while you look for silver under spot?

Business model? What business model.

Enough said.

sumrtym

<< <i>

<< <i>. . . we use word REFININERY in our name as marketing tool >>


so potential customers will believe you are something that you are not?



<< <i>Majority of items sold are shipped to us after you order. We have no control of suppliers therefore we need enough time to fill the order. we reserve the right to cancel orders and do not extend that right to our clients. I know it seems one sided but we have had issue with order cancellation when there's a sharpe market move. >>


You're telling me that you'll use my funds to later purchase the inventory. This is a terrible business model and has been demonstrated as such by many sellers who went belly up holding other people's money. You're basically taking orders that you may or may not fill, with the funds in your hands awaiting the outcome (or bankruptcy). Reputable bullion dealers don't sell what they don't have. No thanks, I'll continue to pay a few pennies more with a dealer who has my purchase in stock, ready to ship. >>


That's right up there with people who sell on e-bay who also have the SAME exact inventory number items for sale on Amazon, in their physical store, etc., at the same time so that when people buy computing shipping cost to the overall price per item, suddenly cancel half the items saying they were no longer available but still shipping you half the order at the new increased price per item thanks to the higher shipping cost per item you now are paying without any offer to cancel the overall order.

Yes, this has happened to me more than once. And I do leave negative feedback when it occurs as that's extremely poor way to run a business.

BAJJERFAN

<< <i>

<< <i>

<< <i>. . . we use word REFININERY in our name as marketing tool >>


so potential customers will believe you are something that you are not?



<< <i>Majority of items sold are shipped to us after you order. We have no control of suppliers therefore we need enough time to fill the order. we reserve the right to cancel orders and do not extend that right to our clients. I know it seems one sided but we have had issue with order cancellation when there's a sharpe market move. >>


You're telling me that you'll use my funds to later purchase the inventory. This is a terrible business model and has been demonstrated as such by many sellers who went belly up holding other people's money. You're basically taking orders that you may or may not fill, with the funds in your hands awaiting the outcome (or bankruptcy). Reputable bullion dealers don't sell what they don't have. No thanks, I'll continue to pay a few pennies more with a dealer who has my purchase in stock, ready to ship. >>


That's right up there with people who sell on e-bay who also have the SAME exact inventory number items for sale on Amazon, in their physical store, etc., at the same time so that when people buy computing shipping cost to the overall price per item, suddenly cancel half the items saying they were no longer available but still shipping you half the order at the new increased price per item thanks to the higher shipping cost per item you now are paying without any offer to cancel the overall order.

Yes, this has happened to me more than once. And I do leave negative feedback when it occurs as that's extremely poor way to run a business. >>




nm

Pokermandude

<< <i>Yes I agree our T&C are most favorable to PMX. But aren't most companies?? >>



PMX: I'll be your supplier. Place your order with me, send me the cash. And then IF I can find silver at cheaper than you "bought" it from me, I'll send it to you. If not, I'll just cancel your order after I've had possession of your money for months. Or I might flake out, close shop, and you'll never hear from me again!

How many ounces can I put you down for?

sumrtym

Just in keeping with this kind of thing, I ran into this today on craigslist.

**************
My locally owned business is starting a long term silver buying project. What I need are funds to help accomplish this. For a limited time, I am seeking a limited number of silver buyers to invest in this project. I have targets for $ and buyers and when they are met, offer closes.

Example: 500$ pledge/investment in this silver bearing scrap will return to you, at current spot price ($19.93), 604$ or 30 ounces of pure silver. That's 5 ounces free or nearly 3$ per ounce under spot price. There will be a 45 day turnaround time.

I will return coins or bullion (J/M, Englehard, Eagles, Maples, whatever your preference) in 1 oz, 10 oz, 1 kilo and larger weights depending on your return, requests and product availability. Premiums from the trading company will apply. In some cases this is as low as .20 per ounce and in others it's as high as 3.25 per ounce, which would eat up all of your profit. I will not add another premium on top of theirs. I can also include gold and platinum returns as well.

This is not a one-time offer. After the first round, I will, for 3 months, let you buy approximately 50% of your original investment. That is strictly as a thanks to you. If you pledged 500$ then when that is completed you can then buy an additional 250$ per month for the next 3 months at the same rate of return.

This outline is a very general description of the process. I will meet with any interested parties at my office with a detailed outline of all the aspects of each part of the process. No money will be collected until the total cash target is met then funds will be needed within 48 hours, cash or check (check must be local and will have to clear first). Signed receipts and documents will be provided and required.
Serious inquiries can be made through my website www.TurnerRefining.com and my number is also on my website. To weed out spam and keep general BS out of my life, I will not respond to any emails through craigslist. You will have to contact me through my site.
*************

jmski52

>20% return in 45 days.

I'm not a big fan of convoluted home-made legalese, and there's plenty of it in this deal.