Anyone Here Buy From Online Dealers Like Apmex Or Goldmart?

Though I personally don't believe in buying investment bullion on credit, when I'm vetting a new online PM dealer I always make my first small purchase by credit card. The advantage of a credit card (and the justification for paying a higher commission) is that if your purchase isn't shipped in a timely manner or if don't receive what you've ordered you have recourse that you wouldn't have with a "cash" purchase.

Once I've had a successful transaction or two with the vendor, I typically don't have a problem using cashiers checks or postal money orders.

There are lots of online PM dealers. IMHO, the PM dealers worth giving business to consistently process payments within 10 days and ship quickly once funds are good. Some online dealers expect you to pay quickly and then give themselves up to TWO MONTHS or more to deliver product. Other dealers have good pricing but consistently have inventory problems and give nothing but excuses for not delivering as promised. Read the dealer's online FAQ and terms of service. Know their fees, commissions, and shipping charges and pricing tier levels.

PM investing with online dealers can be very rewarding and enjoyable regardless of the market craziness *if* you do your homework.

I buy silver from APMEX, Provident, and SilverTowne. All provide good service and have never caused me a serious problem. A few minor problems happened but were easily straightened out via a couple of emails.

As for payment, yes, a USPO money order would be a good form of payment. There is a $1,000 limit on the amount that a single money order can be for, though. I haven't used these for PM buys but have for other items and they worked well. Crooks seem to avoid these, so if I am buying something and the seller refuses to accept this form of payment, I usually avoid the deal.

My preferred form of payment for PMs from reputable dealers is a personal check. These work well enough but do delay the shipment for 4-5 business days until the check clears the bank.

Gold Mart is the best online dealer by far in IMO. I have probably wrote them $5k in checks and have never had a problem other then it sometimes takes a few weeks as checks are slow.

The great things about Goldmart is that they give you bulk prices even if you only buy a few of something and shipping is very reasonable. APMEX robs on shipping and unless they change that they have lost me as a customer.

You may want to try Scottsdale Silver, they take paypal for like a 3% up charge and shipping is free for orders over $500. To be honest I would get Eagles if I were you Philharmonics won't carry any type of premium when you go to sell them but eagles typically will.

APMEX is probably a better choice for larger volume purchases. Those shipping fees make small purchases unattractive.

Also, the USPS postal money order limit of $1000.00 isn't that big of a problem. The fee is so small that it's still cost effective to buy multiple postal money orders that add up to whatever amount you need. For me, it's all about getting my purchase in my hands as fast as possible. And if my dealer is willing to ship 5 to 6 days faster with a postal money order, that's exactly how I'm going to pay.

APMEX was great, used a credit card and package was here in 3 days sharp. Those $12.95 shipping fees hurt, so buy everything in one big buy. They charge 3% more for credit card, but I get a 1% kick-back, so its really only 2%

Quite right, Ed. Buying an ASE monster box or a mint tube of AGE would require a conventional check and the patience to wait 10 days to clear. Fortunately for me, I'm a long way off from having to test my patience and bank account in such a grand fashion.

Engineer!

Good suggestion on shopping banks and CU for lower fees. Wire and check fees do add to PM acquisition costs.