Home› Precious Metals
Options

APMEX Generic Silver....Round 2

ProofmorganProofmorgan Posts: 715 ✭✭✭✭✭
in Precious Metals
I bought another 15oz of generic silver with hopes of getting a nice poured bar like last time. I even requested one in the comments and put a corny message saying all I wanted for Xmas was a unique/poured silver bar. What showed up......15 generic buffalo rounds. At least half had some marks/toning. I'm disappointed, but I assumed this would happen at some point. At $2 over spot, I'll probably hold off for awhile.
Collector of Original Early Gold with beginnings in Proof Morgan collecting.

Comments

  • Options
    guitarwesguitarwes Posts: 9,240 ✭✭✭
    Santa don't work at Apmex, sorry. image
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • Options
    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭


    << <i>Santa don't work at Apmex, sorry. image >>

    image

    Worry is the interest you pay on a debt you may not owe.

  • Options
    ProofmorganProofmorgan Posts: 715 ✭✭✭✭✭
    Ha ha I guess not. I just went by reviews where people put similar messages and got what they asked for. Figured I'd give it a try. Thinking about placing a large volume order....they can only send so many buffalo rounds before having to throw a bar in....right?
    Collector of Original Early Gold with beginnings in Proof Morgan collecting.
  • Options
    mariner67mariner67 Posts: 2,746 ✭✭✭
    "..they can only send so many buffalo rounds before having to throw a bar in....right? "

    Wrong!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • Options
    seebelowseebelow Posts: 1,643 ✭✭✭
    I've bought only specific age there. How does your order work, did you just order 15 oz of silver and they decide what form you get bars, coins, a bracelet (ha!), mixed? As long as you get your 15 oz? Interesting.
    Thanks
    Interested in higher grade vintage cards. Aren't we all. image
  • Options
    bestmrbestmr Posts: 1,763 ✭✭✭
    I think I got a good deal from them. I was looking on Friday night and saw a 2012 BU(which I only thought kilos were proof like but leaned something new) kilo Libertad for $660 with CC. Anyways, with the help of some Crown Royal, I bought it. This morning I went to log into apmex to check my order and it's now $925!!! That's quite a price swing!
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • Options
    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭
    Is $2 over spot really a good deal for generic silver rounds?

    Worry is the interest you pay on a debt you may not owe.

  • Options
    MsMorrisineMsMorrisine Posts: 32,228 ✭✭✭✭✭
    Ouch


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Options
    DrBusterDrBuster Posts: 5,309 ✭✭✭✭✭
    Did you do +$2 with this one? Or is that the current???
  • Options
    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭


    << <i>Did you do +$2 with this one? Or is that the current??? >>



    His opening post indicates he paid $2 over spot. Seems high to me.

    Worry is the interest you pay on a debt you may not owe.

  • Options
    lcoopielcoopie Posts: 8,796 ✭✭✭✭✭
    I don't understand.

    If you want a poured bar why not just order one??
    LCoopie = Les
  • Options
    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭


    << <i>I don't understand.

    If you want a poured bar why not just order one?? >>



    He was gambling that he could get one cheap by buying generic silver and adding a note to his order requesting a poured bar.

    Worry is the interest you pay on a debt you may not owe.

  • Options
    ProofmorganProofmorgan Posts: 715 ✭✭✭✭✭
    The way it works is you specify how many ounces you want and they fill your order according to what they have. It's about $2 over an oz if you do under 50oz, up to only 75 cents over if you do 500 oz. it's a mystery box, if you will. The reviews range from people getting old Engelhard bars to people getting stiffed like I just did.

    The first time around I ordered 15 oz and actually received 15.4 oz. I got a nice old 9.23 oz bar , 5 buffalo rounds, and a few fractionals in grains. That time I just requested 5 oz or 10 Oz bars if possible.

    I'm sure they have a ton of buffalo rounds as fillers for each order. Those rounds are garbage as far as I'm concerned. Not well struck and full of die cracks. Pretty sad for modern bullion.

    I'm sure it would be a better value and more exciting if I went for 500oz, but that's quite a gamble and investment.

    I did it more for the fun and excitement than anything. Nothing like opening a box that you don't know what's inside. First time I won, this time I lost.
    Collector of Original Early Gold with beginnings in Proof Morgan collecting.
  • Options
    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭


    << <i>The way it works is you specify how many ounces you want and they fill your order according to what they have. It's about $2 over an oz if you do under 50oz, up to only 75 cents over if you do 500 oz. it's a mystery box, if you will. The reviews range from people getting old Engelhard bars to people getting stiffed like I just did.

    The first time around I ordered 15 oz and actually received 15.4 oz. I got a nice old 9.23 oz bar , 5 buffalo rounds, and a few fractionals in grains. That time I just requested 5 oz or 10 Oz bars if possible.

    I'm sure they have a ton of buffalo rounds as fillers for each order. Those rounds are garbage as far as I'm concerned. Not well struck and full of die cracks. Pretty sad for modern bullion.

    I'm sure it would be a better value and more exciting if I went for 500oz, but that's quite a gamble and investment.

    I did it more for the fun and excitement than anything. Nothing like opening a box that you don't know what's inside. First time I won, this time I lost. >>



    Please explain how you "got stiffed".

    Worry is the interest you pay on a debt you may not owe.

  • Options
    rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Also how u won, when u can't even get what u paid for all of it...
    keceph `anah
  • Options
    BaleyBaley Posts: 22,658 ✭✭✭✭✭
    rawteam1, I found these extra letters I had left over from a different post, maybe you could use them; you seem to run out of these when you are posting here:

    yo yo yo

    To Proofmorgan, thanks for sharing your experience, I had been curious as to what's in the Apmex mixed bag junk silver bullion, you've given two examples of this pig-in-a-poke style of collecting/investing

    I tend to agree with others that if you want a thing, then just go buy it instead of gambling, but if you enjoy the fun of the surprise as you've described, and do not mind the cost, then what harm?

    Liberty: Parent of Science & Industry

  • Options
    ProofmorganProofmorgan Posts: 715 ✭✭✭✭✭
    At the end of the day I sold the all buffalo rounds and kept what I wanted. With the free shipping deal I probably lost less than $30 total (Spot under $15 the first time and $15.50 the second). I was just gambling to get a one of a kind item, which I did the first time around. When I usually deal in coins in the thousands of $$$ and just wanted to have a little fun and get some unique bullion, what's $30?. I can go online and buy bars all day long, what's the fun in that? I prefer to collect rather than to buy just to make a profit.

    I'm glad I could be of help to anyone who was curious about these silver "mystery boxes" by Apmex. If you are looking to make a profit, stay away. If you want to take the chance and maybe get something unique, give it a try. Worst case scenario you sell it back for spot and lose a couple bucks.
    Collector of Original Early Gold with beginnings in Proof Morgan collecting.
  • Options
    ProofmorganProofmorgan Posts: 715 ✭✭✭✭✭
    Perry,

    In saying I got "stiffed"; when you order a "grab bag" you assume you will get a variety and not all of your ounces in cheap identical rounds. Based on customer reviews and my first experience (mix of an old bar, rounds, and fractionals), I assumed I would get a variety this time around. I was fully expecting a mix like the first time, considering they had over 800oz listed as available at the time.
    Collector of Original Early Gold with beginnings in Proof Morgan collecting.
  • Options
    seebelowseebelow Posts: 1,643 ✭✭✭
    Proofmorgan,
    I gotcha. Thanks for the explanation. So it's just a grab bag. I'll check to see how the quantity you can order varies. It's interesting and I can see how it can be fun. Basically, at worst you're getting the quantity that you asked for. I didn't realize there's so much more value in a bar versus a round or coin. Don't see why apex would even put bars in there. Just load it with the most "worthless" silver. I'm guessing they can always sell bars etc for more of a premium.

    I see it as how we use to buy rolls of quarters looking for pre-65's. Nothing to lose. And fun. Interesting.

    Do they do this for gold? I wouldn't think so but it'd be nice. I bet they'd sell a lot.
    Interested in higher grade vintage cards. Aren't we all. image
  • Options
    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭
    These "grab bag" deals are aimed toward those who want silver at the cheapest price possible and don't care what form it comes in. These deals are also a method for APMEX to unload silver bullion products that are slow movers or are in unpopular forms such as generic silver rounds.

    Worry is the interest you pay on a debt you may not owe.

  • Options
    mariner67mariner67 Posts: 2,746 ✭✭✭
    The generic Indian/Buffalo silver rounds are $0.69/oz over spot each on Provident now!
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
Sign In or Register to comment.