PDA

View Full Version : E-bay Or Nwt?



gus2003
8th March 2009, 19:56
i was just on NWT mint and noticed that they are selling at about the same price for 10-1oz. bars for the same price on ebay? as long as you are patient and dont get into a bidding war its seems about the same for 10 oz. and maybe cheaper.

am i missing something? where do you get your silver? and i'm not talking about spending $5000 in one shot.

thanks

Ardent Listener
8th March 2009, 20:00
i was just on NWT mint and noticed that they are selling at about the same price for 10-1oz. bars for the same price on ebay? as long as you are patient and dont get into a bidding war its seems about the same for 10 oz. and maybe cheaper.

am i missing something? where do you get your silver? and i'm not talking about spending $5000 in one shot.

thanks

If the ebay seller had good feedback I would feel better buying from them instead. But in reality I doubt I would buy from either since I buy local cash and carry. I often get just as good of a price and sleep well at night.

pmstacker
8th March 2009, 22:45
You can get some good deals on ebay from time to time. Apmex is also a good source, i ordered a bunch of GIM rounds from there last week and should have them monday or tuesday. Ended up paying $15/oz shipping included for them and paid via credit card.

valerb
9th March 2009, 00:27
i was just on NWT mint and noticed that they are selling at about the same price for 10-1oz. bars for the same price on ebay? as long as you are patient and dont get into a bidding war its seems about the same for 10 oz. and maybe cheaper.

am i missing something? where do you get your silver? and i'm not talking about spending $5000 in one shot.

thanksNWTM is only a good buy if you purchase a minimum of 50 ounces and then they throw in free shipping. For only a ten ounce purchase, you are looking at $10 - $20 extra for shipping and insurance. I would call your local coin shops to compare prices and figure anything less than two dollars more than the online dealers price is starting to be competitive. If the coin shop can come within a dollar per ounce, then that would probably be your best buy.

auptag
9th March 2009, 01:27
Really? Everything I've seen on eBay recently is disturbingly overpriced.

A couple weeks ago I considered NWTM 'cause it seemed like such a difference in price vs. other places. Right now seems to be right on par w/ bullion direct so I see no reason to stray from BD right now. Hoping to be able to buy enough over the next 2 months or so to make a shipment worth it.

YORKIE
9th March 2009, 01:58
I have purchased from Ebay, Northwest Mint, and APMEX. Ebay is good if you can get the free shipping but you have to just put in your max bid early and if you win you win.
I live near the Northwest Mint and walk in to place orders but I still have to wait 10-12 weeks after my check clears for them to call that the order is ready.
APMEX so far has worked the best for me using a check. I don't mind waiting the 17 days or so. I put in 2 orders a month so things come on a regular basis.

Argentum
9th March 2009, 08:33
Gus, welcome.... this has been a topic for threads at least once a week.

Do a search on Apmex, Bullion Direct, NWTM, ebay. Tulving, etc.... and you will find EVERY answer you could possibly want to know.

On other topic, we really just might need a basic FAQ for newer folks.....

pmstacker
9th March 2009, 09:26
You just need to know how to use ebay effectively. If you can't do then by all means stay away, but if you have some ability to use it to your advantage then its great. Right now theres an 8% cashback offer from live.com. Last night i bought 5 academy bars using the cashback code and paid just under $150 a bar shipped. Thats $11 a bar cheaper than scottsdale and cheaper than any bars at apmex or nwtmint. Nwtmint is hit or miss, it sucks waiting weeks for your shipment and paying high shipping fees on top of their high premiums.

Ancona
9th March 2009, 09:57
I'm afraid of Ebay. It's too anonymous.

I prefer to pay a small premium to be absolutely sure that my package will reach my mailbox. I am sure that many of the dealers on Ebay are reputab le, but I still cannot reconcile with the idea of spending a grand or more with someone who doesn't have a phone number or physical address posted. That's a little too big a leap of faith for me.

pmstacker
9th March 2009, 10:12
LOL thats nothing. I've sent over $250,000 (my own money, not someone elses) to another country to a company which didn't exist just a couple weeks prior, to a person whos name i did not know and had no physical address for and to whom i only talked to on hushmail (anonymous email). And to top it all off it had to be wired to their bank in a different country than where they were going to fullfill my order from. Bank wires are non-refundable fyi. It took quite a leap in faith, but i ended up profiting handsomely. If a grand puts you off you'd never last in other business's where meeting or talking to the person face to face is not an option.

I'm not saying that anyone else should ever do this, but it was something i needed to do and lost alot of sleep until all the merchandise showed up, after which i spent weeks working 24/7 packing and shipping orders, it was crazy. I ended up taking a year off after the ordeal was done, and bought a nice pontoon boat to enjoy myself while on vacation ;)

Its easy to get your money back from ebay, expecially if you know what you are doing. If you are worried use a credit card through ebay, then you can always go back to the credit card company and file a chargeback if needed. Paypal will be sol, not you. Also don't deal with anyone with any negative feedback, or at least research why they have negative feedback. Also only deal with people with a bunch of feedback and have been registered for a couple of years or more. But if you don't want to deal with ebay thats fine, it only helps people like myself get better deals more often ;)

Argentum
9th March 2009, 10:13
You just need to know how to use ebay effectively. If you can't do then by all means stay away, but if you have some ability to use it to your advantage then its great. Right now theres an 8% cashback offer from live.com. Last night i bought 5 academy bars using the cashback code and paid just under $150 a bar shipped. Thats $11 a bar cheaper than scottsdale and cheaper than any bars at apmex or nwtmint. Nwtmint is hit or miss, it sucks waiting weeks for your shipment and paying high shipping fees on top of their high premiums.

But not cheaper than BD, and that's using todays price (up) AND CMX approved bars from the catalog and even a bit less if you used the Nucleo. (includes shipping for 50 oz which is $20 + Insurance from Lloyd's too)

Again, not saying you got a bad deal at all! Just trying to suggest (especially to the newer folks) that one needs to make sure they look at the total risks.

Now I also know that many of our over seas folks have need of ebay for silver - that I can empathize with. Also if you are looking for a specific brand, and hey, I've make sure to buy all sorts and brands of bars to have many options. Just realize there is no ONE place - we have many options available, each with their pros and cons.

pmstacker
9th March 2009, 10:18
Yes but bullion direct adds a huge fee if you pay via credit card, if you pay via any other method and don't buy insurance then you are sol if the bars don't show up. I buy many different brands of bars as well, i've gotten many different brands at good prices, including: Engelhard, A-mark, Wall St Mint (original not apmex), Pan American, etc. Academy bars are ones i like because they stack nicely and take up very little room. They are also not packaged like the other bars so they are fun to fondle ;) I don't have anything against bd, but their checkout procedure and fees can put off some people, not to mention you don't know what you are buying ahead of time, you just know its silver and it has value.

Argentum
9th March 2009, 10:59
Stacker, that's not accurate at all. Insurance is not an option with BD, it is part of their business model. And I think most of the bigger bullion dealers have the same sort of coverage. If you have actually bought from there you would have known this.

"HUGE" credit card fee?? Well, I don't actually recall what "HUGE" is as I don't use cards. And in all honesty I don't think we should ever think ANY bullion business is going to NOT charge you for using a CC.... I use an electronic check and it's free - for any bullion dealer, not just BD. But using a CC is a personal decision, and whatever the fees is, well, that's the price it is.

The check out procedure is about as standard as anyone else I guess, heck, I don't know. If it's to confusing or puts you off, well, it is what it is.

Specific bars - I do agree and did mention that bar selection is a valid reason for shopping around, I do! And I guess that's my bottom line. Shop around, take a look at your options. Ebay is cool, especially if your getting that 8% cash back.... how long does that take anyway?

This is my last post on this thread as I don't want it to digress. Many good options out there and folks can buy from many solid dealers. Heck, in the end, a 50 cent difference ani't going to matter a hoot. Just buy metal in a manner that you all feel comfortable with.

pmstacker
9th March 2009, 11:23
I agree, i'm just stating not to discount ebay right off the bat, there are many good deals to be had and many bad deals as well. I've seen alot of people paying $180-200 for a 10oz bar of silver which to me is just plain dumb, but thats their choice. I wouldn't do it, but once in awhile you can come across a good deal, either late at night or during the day when most people are doing other things, such as eating dinner, etc. Anyhow it doesn't matter how you get the metal so long as you get it imo, but to have more options is better than not having enough options.

auptag
9th March 2009, 11:44
I have grappled with the eBay vs bullion companies for a few weeks. Bravo to those that have gotten deals on the bay because after searching and searching for a few days I realized that I had already spent several hours and, since time IS silver, it would have to be a REALLY good deal to pay me for my time lost. Disclaimer: I was looking for lots of 10's of ounces...possibly 50 or 100 total, in which case a "deal" might have only been a few dollars cheaper than elsewhere. PLUS with all the forging going on right now...it scares me. Probably a better deal can be found in larger orders.

Since them I have ordered with apmex (waiting on order), BD (waiting on order AND building up for the next shipment) and shhh.......even NWTM. As of now I have to agree that there is no one place that solves ALL dilemmas and there are reasons to try them all out.

For me:

Ebay: Too much time spent to save a buck or two on my SMALL orders. Maybe better for larger orders

BD: I love that you can bank your PM until you are ready to have it shipped, thus lowering your shipping costs. FAQ is sparse in some areas and customer service can sometimes be slow. Also no clue what you're getting brandwise.

APMEX: I know exactly what brand I am getting and what it looks like. Buying their 1oz and 10 oz bars and rounds it seems that everything is brand new and not previously owned/scuffed. Yes, I make no apologies for liking shiny, perfect PMs.

NWTM: They *HAD* the cheapest bullion prices I found a few weeks ago INCLUDING shipping and insurance...though they are either getting closer to BD or BD is getting closer to them. Still cheaper...just not all that much and the wait (as I understand) is atrocious. 1-3 months to get your silver. YIKES!!

Government mints: Higher premiums but I'm NEVER worried about authenticity.

Littleton: $14 ASE deals once a year. :)

Other generic mints: I'm staying away for now. Like momma always told me, if it's too good to be true, it probably is! (Did I mention she was a silversmith? Smart lady mom was.)

pmstacker
9th March 2009, 13:02
Ebay is ok if you have extra time and like shopping for deals. I own my own business's so i have some free time to dabble on ebay and find deals when they present themselves. However you can go days or weeks without finding a good deal, but then all in the sudden a bunch pop up and bingo you are in business. Right now the best thing to do is use the live.com cashback deal (ive used it in the past with success) and get 8% back on any buy it now. Then search for 10 oz silver bars and click the buy it now and sort by lowest price with shipping first. Then scroll down the page and do the math on bars you want. Just multiply the BIN price by .92 and then add the shipping. To get the live discount just visit live.com and do a search for macbook pro. Click the first sponsored result which will take you to ebay, then do the silver search from there. You'll notice it puts a 8% cashback logo on the top of the browser page next to the ebay logo and also puts a coin icon next to all buy it nows. The only stipulations are you must buy within 60 minutes and you can only do one purchase per session, and you must pay via paypal. The you have to wait 60 days for the money to be desposited into your paypal account, but this is not a big deal and i've used it in the past on much larger purchases with no problems. Anyhow now you'll be armed to take advantage of some of the good deals that surface from time to time, but don't just rush in and buy will nilly, take your time and wait for deals to pop up. I find anything at 169.99 with free shipping will get you to about $15/oz final price paid. And anything lower will obviously give you an even lower cost average per ounce. Now this may be alittle higher than apmex but you won't have to wait a few weeks for stock, and you'll know the brand and condition of the bar you are buying before doing so. My last purchase with apmex with GIM rounds with shipping was about $14.90 an oz, so .10 more isn't too much to ask, expecially when you can find engelhard, pan am, a-mark, academy bars at this price. Silvertowne will always be cheaper but i'm not a big fan of those.

gus2003
9th March 2009, 13:58
lots of great info! thanks everyone!

Silver_Guy
12th March 2009, 23:32
Another auction website is www.bullionpost.com (http://bullionpost.com). Not much inventory at the moment, but they may come around.

Bigheadt
13th March 2009, 15:14
E-bay is good for us little guys who can sometimes only afford one or two ounces at a time.