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Please Help Me Make My First Pm Purchase

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Valued Member

United States
477 Posts
 Posted 02/09/2013  02:12 am Show Profile   Bookmark this topic Add greenprint to your friends list Get a Link to this Message Number of Subscribers
So I would like to buy some Silver online. The only issue is that I'm unsure how to buy stuff online on the internet. Right now I have a bank of america savings account. I'm aware that I can open a checking account online. However APMEX asks me for like my credit card number. I don't even have a credit card. I just have a savings account. Please help.
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daniels's Avatar
United States
1620 Posts
 Posted 02/09/2013  02:36 am  Show Profile   Bookmark this reply Add daniels to your friends list Get a Link to this Reply
Just go withdraw some cash from your savings account and buy a visa gift card from Walmart
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basebal21's Avatar
13014 Posts
 Posted 02/09/2013  04:52 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Daniels idea is good in theory but check with the websites first to see if they take those when you figure out where you want to buy. Some will take them some wont. Id stay away from the Visa ones too, for whatever reason they get rejected the most. PCGS for example no problems whatsoever with the Amex or Mastercard ones but the Visa ones will never go through. A few other sites have been the same way.
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denco7's Avatar
United States
2543 Posts
 Posted 02/09/2013  08:44 am  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
My advise would be to shop local. Try coin shops, no shipping.Buy a bar or two on craigslist, just make sure it is a APMEX,JM,Engelhard or other reputable bar. No tax, no shipping.
There may be some perceived safety in online shopping, but silver is at $31.50 ,you buy a one ounce bar from APMEX $31.50+$2.99 premium +$12.00 shipping = $46.49
That means silver has to rise to $46.49 before you will just break even on your new . investment, not exactly a stellar start.
Of course this is an extreme example but you get the point. If you can, buy local with cash.
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rastatodd's Avatar
United States
487 Posts
 Posted 02/09/2013  10:31 am  Show Profile   Bookmark this reply Add rastatodd to your friends list Get a Link to this Reply
If I may make a suggestion try looking online at Silvertowne on some of their items they offer "Free Shipping" no matter what amount you buy. Also no sales tax online because of no tax collecting agreement between my state of Minnesota and Indiana, where Silvertowne is located. This might not pertain to the state where you live. You'll have to do some investigating into that matter.
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United States
648 Posts
 Posted 02/09/2013  11:30 am  Show Profile   Bookmark this reply Add tripncoins to your friends list Get a Link to this Reply
APMEX (or even Gold Mart) has the ability to receive and process a paper check. Go old-school. Write a check, send it off, and dream about your bullion shipment coming to your front door. Easy.
Edited by tripncoins
02/09/2013 11:31 am
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Lion4Life's Avatar
United States
370 Posts
 Posted 02/09/2013  11:34 am  Show Profile   Bookmark this reply Add Lion4Life to your friends list Get a Link to this Reply
Could always do a money order as well.
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jokingjoker's Avatar
United States
2150 Posts
 Posted 02/09/2013  12:33 pm  Show Profile   Bookmark this reply Add jokingjoker to your friends list Get a Link to this Reply
If you open a checking account you will receive a ATM card with a visa or MC logo that you can use for online purchases.
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United States
3789 Posts
 Posted 02/09/2013  6:04 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
I like Daniels idea of a card from Walmart or a Money order as well.

Also, try Goldmart.com they seem to have the best pricing, Bought pandas and other items from them recently.

Also, make sure you read the terms of any card that offers the cash into credit card account, just so that fees and whatnot dotn eat up your card.

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Berk's Avatar
United States
148 Posts
 Posted 02/09/2013  9:40 pm  Show Profile   Bookmark this reply Add Berk to your friends list Get a Link to this Reply
I'm sure Bank of America will give you a credit card with $1000 or some low limit even if you have no credit.
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NathanASE's Avatar
United States
1511 Posts
 Posted 02/09/2013  9:56 pm  Show Profile   Bookmark this reply Add NathanASE to your friends list Get a Link to this Reply
If you have a debit card to your account that will work too... My BOA checking account with atm/debit does at least.. Works just like a VISA.
But I agree that checking out a local coin store may be priced lower.. Or even ebay..
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coinwatch's Avatar
United States
808 Posts
 Posted 02/10/2013  04:53 am  Show Profile   Bookmark this reply Add coinwatch to your friends list Get a Link to this Reply
Go local and buy 90% silver. Best to avoid credit of any kind when buying PMs.
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Ed_B's Avatar
United States
4008 Posts
 Posted 02/10/2013  6:57 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
You could also take money from your savings account and buy a US Postal money order. These are readily accepted just about anywhere in the US. Check with the on-line vendor first to see if this is a form of payment that they will accept. It's very likely that they will but it never hurts to ask.

As to buying on-line... find a vendor that has the prices and selection that you like and then open an on-line account with them. They will have an on-line form that you can fill out with your personal info. This should be on a secure HTTPS type server so your info is protected by 128-bit on-line encryption. This needs to be turned on in your browser, so check your browser settings to see if it is before attempting to fill out the form. Once that is all done, they will probably send you some sort of welcoming email. Sometimes, you have to verify your application via clicking on a word or line of text in their email. After that, you should be good to go. Other vendors have similar requirements, so just repeat this process for any other vendors that look good to you.
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