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 Replies: 60 / Views: 9,408 |
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Pillar of the Community
 United States
3789 Posts |
Trout I think it is clear I am not "bagging" MCM. It is clear I am not saying anything but to be careful that you make sure you are getting a deal when you buy. No where did I say "dont buy " or "boycott MCM". Bumping up a kilo coin when silver is falling, and jacking up the price is not a value to me. If I was not careful I would have overpaid for this coin. That is what I am saying. It is my opinion and nothing in my thread said not to buy from MCM; but rather be careful when you buy that you are getting a value and deal, and this applies to ALL dealers. And for the record, there were plenty of dealers that WERE offering good deals as silver dumped. One was JM Bullion offering 2015 somalian elephants 1 oz for 21 and some change.. THAT was a deal, even APMEX was close. These two dealers were doing that even as MCM was raising prices on the somalian elephants. So again, it is my opinion and I feel it is my duty to remind everyone to just make sure you are going to get a good deal. I am not saying do not buy from MCM, I think you missed the point my friend. But anyways, its good that we are discussing this so that people remember that when prices drop, make sure your dealer is giving you a deal that you see value in and, not jacking up the price in the face of declines in spot. I think thats simple, helpful advice. :) |
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Pillar of the Community
United States
5838 Posts |
Curiously I check out APMEX and saw the 2011 Somalia kilo selling for $1,695, and 2012 going for $1,795, this indicate a healthy collectors demand or dealers wanting to jack up prices. Add $14.95 shipping to the order for 1 kilo. For the 1 oz 2015 Somalia, add $9.95, not worth the price to buy 1. |
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Pillar of the Community
United States
3789 Posts |
@macmercury Yea I seen that too for a while, but those prices are greatly inflated. I say that because about a year ago, I saw 2013 Somalia elephant kilos go for about the same issue as 2014 on some auctions on ebay,, which I might add MCM dosnt consider to be bona fide, thats at least the impression I got from their policy.... I also saw that APMEX was offering the 2015 for about high 1100s I believe it was and then after a while dropped the price on them to what they are now. |
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Pillar of the Community
United States
3789 Posts |
so I think, ok let me check MCM,, maybe their price is in line with the drop in silver right now.
here we are testing FRESH yearly lows on silver and whats the kilo elephant for 2015 somalia elephant coin at?
right now at 8 55 CST time its at 766... when tho when I first started this thread and silver was HIGHER it was closer to 698...
so again my friends...before you rush out to buy again on a drop in spot.. please please please make sure your dealer is adjusting prices that are close to spot.
As an example... MCM wants 23.80 as of this writing for a 1 oz silver 2015 somalian elephant. I need two of them, one for me and a family member I want to gift. Mintproducts.com, as an example, one of the best prices I have found tonight, wants 20.33 right now (8 59 CST) plus 2.99 rough shipping for this order of two coins.
Which deal would you do? which deal sounds better to you?....
Again, MCM can charge whatever they want. heck as a traders I am all for max profits. However, one needs to get a good value for your bucks, I feel. Therefore, to me, the Mint products site has a much better deal.
Finally, I have NO VESTED interest in any site. I have bought from whoever gives me the best deal.. ANYONE who is reputable and gives me the best price is who I find as value. I have bought from ALL dealers, including MCM.
If you look at my somalia elephant thread you will find a while ago I purchased several coins of this series from MCM.
Again I am just saying, make sure you get a deal and not just assume the dealer dropped prices along with spot...
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Pillar of the Community
United States
606 Posts |
Most know I disagree with yup on this. I order from companies like MCM because they do an amazing job of packaging coins and I have had perfect luck with them.
I have also ordered from other "cheaper" sites and some of the coins had some damage. What do I do? I usually keep them knowing the coins are just worth melt. MCM actually pays to return a product, but I never have had to. I wonder if that other company you mentioned yup pays shipping if you need to return something.
IMO, a company like MCM is worth the extra money. It was so frustrating to open damaged coins. However, I am not going to spend the time to ship a coin or two back, it just is a waste of time and shipping.
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Pillar of the Community
United States
5838 Posts |
I bought one 2015 1 oz silver Somalia elephant on ebay from MCM for $19.78 with free shipping. It should arrive in the next day or two. Thanks to ebay I got a $5 discount from selected ebay registered user. This is my first Somalia elephant, hoping many more to come! Edit: BTW I have also bought coins from MCM before and no problem with them. Edited by macmercury
12/01/2014 7:03 pm
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Pillar of the Community
United States
1037 Posts |
I was watching the 2014 silver Wedge Tailed Eagle MS69 signed by John Mercanti from MCM selling for $49.99. Once MCM's MS70 WTE coin sold out at $99.99, they raised the price of the MS69 to $89.99. I was able to find the coin cheaper elsewhere. I'll still shop MCM, but not as often. |
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Pillar of the Community
United States
3789 Posts |
To me, this thread is not about not buying from MCM. This thread is about being an educated buyer and I used my experience as an example. I was under the impression many dealers will move their prices as spot drop, I know many do and see it, I see others dont. BTW, bullions coins wont be accepted back by MCM, read their policy. So, an example, if you coin milk spots on a slabbed somalian coin, you cant return it. I have ordered from MCM before, they package great, ok yea I agree. But they also wont take slabbed coins that are bullion graded on ebay as an example. I bought several slabbed coins that are bullion coins, they came with milk spots in fact but I could not return them. Ok, so I needed to read their policy. No dealer is perfect. and again this thread is not about damaged coins, or packaged coins, this about making sure you are getting a fair market price, shop around. |
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Pillar of the Community
United States
606 Posts |
I don't see how you can separate the better packaging and quality of arrival from the fair market price.
Some people would also tell me that leasing a new vehicle is not the "best value". To each their own as I enjoy always driving a new vehicle and knowing the quality of arrival is perfect every time.
The coins I have ordered from MCM have arrived in perfect condition so far, and I would gladly pay more to avoid crappy coins from some unknown coin company.
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Pillar of the Community
Canada
2019 Posts |
Quote:
BTW, bullions coins wont be accepted back by MCM, read their policy. So, an example, if you coin milk spots on a slabbed somalian coin, you cant return it. The more I read about slabbed coins and specifically bullion slabbed coins the more I want to just want to stay away from them. THE 10 GREATEST MYTHS OF ‘SLABBED' COINS http://www.usgoldexpert.com/article...abbed-coins/Quote:
MYTH NO. 6: A coin can't deteriorate once it is
encapsulated in a slab.
On the contrary, the deterioration of coins- - "even when
housed in slabs- - "is a source of growing concern and
represents a problem that's likely to occupy us increasingly
over the next several years.
NGC conducted some very intriguing age-acceleration
simulations in which coins that were sonically sealed in
tamper-resistant holders had their age accelerated by
decades. The results proved unsatisfactory, at least in terms
of copper coins: The coins actually deteriorated while they
were in the holders. I have seen a number of copper coins in
PCGS holders which actually broke out in spots while in the
holders.
There's really no way that a coin can be completely
protected against environmental variables, whether it's in a
slab or otherwise. We have seen a number of cases where
moisture in the air permeated the holders, as well as other
cases where coins made of highly susceptible and vulnerable
metals such as copper were, in a sense, choking in their
holders- - "trapped inside with airborne particulate matter
which was causing the coins to deteriorate.
Because copper coins are so susceptible to damage and
deterioration, NGC does not guarantee the grades it assigns
to them, as it does with coins produced in other metals. PCGS
does guarantee the grades of copper coins- - "but I have seen no
difference in the way these coins deteriorate while
encapsulated, whether the holders came from one service or
the other.
This is a real problem, one I sense we'll have to
address more urgently over the next several years as coins
that are susceptible grow older in holders and their
deterioration becomes more apparent. Edited by Northerncoins
12/03/2014 05:41 am
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Pillar of the Community
United States
3789 Posts |
Again, to recap- this thread is about being a good informed customer. Learn from my experience regarding buying bullion coins. My experience has been now to make sure I go with a dealer who offers a price that is more inline with spot prices and to make sure that prices aren't going higher as spot drops. MCM was used as an example since they had the 2015 somalian kilo coin. Other dealers, since I have taken the time, also play this sort of pricing structure. Others keep their prices in a more realistic manner, with a premium over spot, but not greatly exaggerated. this thread is not about packaging. this thread is not about policy returns. this thread is not damaged coins. However, since MontanaCMR wishes to deviate from the topic, I will say, MCM does sell slabbed graded coins on ebay, in their auctions, does not mention at all they have milk spots and then on their ebay pages it says "product not returnable since it is bullion and tied to spot price". Fair enough.. but I would not have thought MCM would sell graded coins that have milk spots and not inform the customers? But again, this thread is not about anything but to make sure we are getting a fair price as consumers, as there are many reputable dealers who offer similar products and their prices are more in line with the spot prices. MontanaCMR I would hope you read the first posting I did on this instead of trying to talk about packing. :) |
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Pillar of the Community
United States
606 Posts |
Yup,
The San Francisco Giants now use a dynamic pricing system for tickets based on analytics. These prices can change by the minute.
IMO, companies shouldn't charge based on spot price changes, but rather demand algorithms similar to the GIants if they want to maximize profits.
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Pillar of the Community
United States
3789 Posts |
@MontanaCMR thats actually nothing new, its old. Amazon.com has been using that now for probably 5 years. and here is the deal, folks have caught on, and have gone on to other etailers. So, what coin collectors need to do, what investors that want to buy, should avoid dealers that put on wild mark ups on falling spot prices... and its clear people are wise to this and that's my message- before you buy from a dealer, shop around and make sure you are getting a price that is reasonable  |
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Pillar of the Community
United States
606 Posts |
I am not sure where I said it was new, but I did suggest it was a good model for coin dealers to adopt to better match pricing to demand as opposed to spot pricing.
This model is a win/win as it also would reduce the price of low demand products.
Your point about dealers not dropping prices as spot drops is something most of us recognize, and yet don't avoid which is why businesses continue to do it. It is good you recognize it and avoid it.
Recently our LCS has continued to raise premiums as prices drop. I have talked to some that will pay whatever and it seems they are a bit of the "don't track my purchases" kind of people who refuse to order online because of a paper trail. IMO, our shop is very luck to have this group or they would have been out of business years ago. I still think the LCS model will go the way of bookstores unless I am underestimating the paperless group buying power.
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Pillar of the Community
United States
3789 Posts |
I gave up on local shops because they never have what I needed or wanted...whether it was coins or even basic supplies so I stopped going....
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Replies: 60 / Views: 9,408 |
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Posted 11/26/2014 8:46 pm
