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APMEX in trouble?

VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭
in Precious Metals
With Pamp 1oz bars for melt delivered on eBay? You gotta wonder: Pamp at melt delivered

Under melt with cc/eBay Bucks/etc.
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Comments

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    The last time they had 1 ounce AGEs for about $10 over like that I got my 2 pretty quick. I doubt they are losing $$$, but I expect sales are slow. Looks like a decent deal if I hadn't recently bought some.
    theknowitalltroll;
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Over 500 sold with 1 day remaining....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    ebay has to be subsidizing this.


    how many of the 1oz AGEs did they sell?
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    I am guessing a Silvertowne type screw up. Look for the cancelled deals and negs to follow.
  • ranshdowranshdow Posts: 1,441 ✭✭✭✭
    he last time they had 1 ounce AGEs for about $10 over like that I got my 2 pretty quick.

    I'm not seeing it. Their cheapest 1oz AGE on ebay was the 2014 at $1301 and change. The PCGS weekly which came out today quoted AGEs as of today at $1225.75; kitco's quoting spot at $1193.
  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    moving inventory just as they always do. Low profit/high volume on this item. Probably bought big quantity at low price.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>moving inventory just as they always do. Low profit/high volume on this item. Probably bought big quantity at low price. >>



    Might be high volume but there's no profit to be had here. Even if bought a month ago at melt ($1150) these would be being sold at a loss after only 4% eBay/PayPal fees + S&H.

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>ebay has to be subsidizing this.


    how many of the 1oz AGEs did they sell? >>



    1551 IIRC
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>he last time they had 1 ounce AGEs for about $10 over like that I got my 2 pretty quick.

    I'm not seeing it. Their cheapest 1oz AGE on ebay was the 2014 at $1301 and change. The PCGS weekly which came out today quoted AGEs as of today at $1225.75; kitco's quoting spot at $1193. >>



    That was on Nov 7th when they last had that deal. $1190 a pop.
    theknowitalltroll;
  • USASoccerUSASoccer Posts: 445 ✭✭✭
    Wow cheap!!!
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    It's a great deal for those that use other cash back sites and get credit card rewards

    I'm nibbling in gold, so this 1oz is too big of a bite for me. Otherwise I'd be in for 2.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,365 ✭✭✭✭✭
    Thanks for the heads up. I picked up 2. With the rebates back 1% from Big Crumbs and 1.5% from Visa my net was $1,167 each.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    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
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    Definitely not a Silvertowne-esque screwup. I received an email from Ebay's bullion centre/Apmex with the offer. Too bad they don't ship to Canada. I might have taken them up on their offer even if shipping added 2% or so to the cost.

    Also, there is no way Apmex is paying regular store FVFs. They surely have a special deal with Ebay to greatly reduce their fees, probably to virtually nothing. Similar to a large/famous coin collection being sold by an auction house with no seller's fees. Ebay will get a lot of extra business for their other listings by having Apmex on board offering deals like this so often.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,365 ✭✭✭✭✭
    Apmex is definitely not in trouble. The proof is that I got my decorated tin full of flavored popcorn this week. image
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    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
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>Wow cheap!!! >>



    Not hardly. Unless you are selling to someone like yourself you're at least $15-$20 in the hole if you could sell right now. After their last offering of AGEs a month ago, I was in the hole before they even hit my mailbox. One has to think long term tho. I expect that gold will hit $1,000 before it hits $1,300.

    Beats the crap out of paying $1367 tho.
    theknowitalltroll;
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭


    << <i>Also, there is no way Apmex is paying regular store FVFs. >>



    That is for sure.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Over 1k sold so far...I prefer the old PAMP design with Fortuna over the new one.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    The only ones in trouble are not looking at the horizon.
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    I stand corrected. Deal is listed on EBay's cyber week promotion page.

    ....after having two coin buys from two different sellers get canceled in the last couple of weeks, I have become skeptical.
  • freechancefreechance Posts: 380 ✭✭


    << <i>Apmex is definitely not in trouble. The proof is that I got my decorated tin full of flavored popcorn this week. image >>




    Mine is due to arrive today. A nice bonus, though not as nice as the free silver provident sent me last year.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>Also, there is no way Apmex is paying regular store FVFs. >>



    That is for sure. >>



    They may have gotten a special price on the gold too.
    theknowitalltroll;
  • jmski52jmski52 Posts: 22,858 ✭✭✭✭✭
    They run a tight ship, as far as I can tell. I would expect a lot of other bullion dealers to be out of business long before Apmex got into much trouble.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    They're also getting away from dealer oriented business to a more active role in retail sales. At least from what one dealer tells me his experience has been.
    theknowitalltroll;
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Also, there is no way Apmex is paying regular store FVFs. >>



    That is for sure. >>



    They may have gotten a special price on the gold too. >>




    This wouldn't be possible without ebay owning PayPal.

    Ebay has to be eating all fees on this at minimum, FVF + PP, and then there is shipping and overhead on these on APMEX's end. Maybe APMEX is eating that as customer acquisition costs.


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Over 1900 sold so far. I suspect that APMEX got them at or below spot due to volume from Produits Artistiques Métaux Précieux ( aka PAMP) or the US distributor for PAMP: Manfra, Tordella & Brookes, Inc.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Might be high volume but there's no profit to be had here. Even if bought a month ago at melt ($1150) these would be being sold at a loss after only 4% eBay/PayPal fees + S&H.

    Dont' think of it in terms that this is the only item they sell. They make a KILLING on other stuff, so sell these at cost to free up cash to purchase 2015 ASE & AGE's.

    If I worried about making a profit on every item I ever tried to sell and wouldn't sell without doing so, I would not have sold as nearly much as I have. When you buy something for $22 and sell it for $210 and get lucky enough to do that a few times, some on an even bigger percentage... then sell other things at a measly 3-5% profit on a more often basis, I can lose a couple bucks on something that has gone stale and I just want out of it to free up the cash.

    APMEX does this, but on a much larger scale, that's all.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    Pamp needs a new A for these bars. Artistique does not fit. Abominable?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • silverman68silverman68 Posts: 542 ✭✭✭
    They are buying for $1197. Load up! Thats for the old design though
  • MsMorrisineMsMorrisine Posts: 33,091 ✭✭✭✭✭
    Buy 2 then call Monday asking for a $6 check instead.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    MCM is selling the Fortuna Bar for $1275.00 with over 700 sold. That actually is a low ball price for the Fortuna bar.

    Fortuna 1 oz on eBay by MCM
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • DrBusterDrBuster Posts: 5,379 ✭✭✭✭✭
    delete
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>You guys are funny with this one.

    I got 50 sweet latina breastises in 48 hrs from the A. If order delivery stops wake me up with this concern. >>



    No kidding

    MJ
    Walker Proof Digital Album
    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......
  • tincuptincup Posts: 5,142 ✭✭✭✭✭
    If I recall, Apmex does quite a bit of inventory clearing out about this time of year. So may be related to that... getting cash flow ready for the new year.

    Or... may be the usual drop in metals prices on Monday and they have a heads up!! Seem to always work out that way.
    ----- kj
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>If I recall, Apmex does quite a bit of inventory clearing out about this time of year. So may be related to that... getting cash flow ready for the new year.

    Or... may be the usual drop in metals prices on Monday and they have a heads up!! Seem to always work out that way. >>



    What is the interest cost of a short term business loan for $500K vs selling 1000 or more ounces of gold at a loss per ounce? Keep in mind we know nothing about any incentives that APMEX may have had from PAMP nor would there be any assurance/s that APMEX would have sold them all at regular pricing by year's end.
    theknowitalltroll;
  • natetrooknatetrook Posts: 613 ✭✭✭
    Just bought one for $1094, using my $100 E-bay coupon.

    Under spot is always great.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Sale is over.
    theknowitalltroll;
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Sale is over. >>



    Almost....1 hour to go with over 2300 sold....(APMEX)
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    << <i>If I recall, Apmex does quite a bit of inventory clearing out about this time of year. So may be related to that... getting cash flow ready for the new year.

    Or... may be the usual drop in metals prices on Monday and they have a heads up!! Seem to always work out that way. >>



    Not on ebay but on the regular site they called it the IRS . Inventory Reduction Sale.

    I'm not sure if they did it last year though.


    Is it just me or have they trimmed their inventory a bunch or what?
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>Sale is over. >>



    Almost....1 hour to go with over 2300 sold....(APMEX) >>



    Clicked on the wrong link.image
    theknowitalltroll;
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    APMEX sale still going on ... now until 12/20....& they only report # sold in the last 24 hrs... Interesting.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    It's really got to be scary holding that much metal with the market awash with it (it's for sale all over the place, look around), hard to blame them for selling as fast as they can before it drops more

    Liberty: Parent of Science & Industry

  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭


    << <i>It's really got to be scary holding that much metal with the market awash with it (it's for sale all over the place, look around), hard to blame them for selling as fast as they can before it drops more >>



    A hedge position would offset the risk.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>APMEX sale still going on ... now until 12/20....& they only report # sold in the last 24 hrs... Interesting. >>



    You mean 12/10 no? Right now it's 2 days and 17+ hours to go.

    Buy tonight and be in the hole as early as tomorrow morning.image
    theknowitalltroll;
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>

    << <i>APMEX sale still going on ... now until 12/20....& they only report # sold in the last 24 hrs... Interesting. >>



    You mean 12/10 no? Right now it's 2 days and 17+ hours to go.

    Buy tonight and be in the hole as early as tomorrow morning.image >>



    Nope...My Watch List indicates: Dec-20,10:18 AM PST
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • freechancefreechance Posts: 380 ✭✭
    it shows 4255 sold
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    What everyone else said. They got a good deal on them, they're not paying a lot in fees to Ebay/PayPal, they want to clear up some cash for 2015 purchases. Nothing nefarious going on here at all, just a good deal.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>it shows 4255 sold >>



    almost 355 troy pound...or 5 million $ worth.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>APMEX sale still going on ... now until 12/20....& they only report # sold in the last 24 hrs... Interesting. >>



    You mean 12/10 no? Right now it's 2 days and 17+ hours to go.

    Buy tonight and be in the hole as early as tomorrow morning.image >>



    Nope...My Watch List indicates: Dec-20,10:18 AM PST >>



    Mine does too, but I don't think that means much. The 2+ days remaining is now gone from the listing. The issue I have with these is that gold is likely headed lower and most places you can sell them too will offer you less than spot, plus you may have to plan for $20 or so for shipping.
    theknowitalltroll;
  • s4nys4ny Posts: 1,569 ✭✭✭
    If they were concerned about their inventory, they could easily and inexpensively
    hedge by selling silver futures contracts.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Sale ended earlier today with over 5k sold....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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