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deleted
2 Posts |
 Posted - 09/17/2008 : 19:25:48
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I see some other companies mentioned but nothing about Monex. They post their actual trade prices of various PM vehicles on their website. I bought a bag of 90% a couple weeks ago at 35 cent discount to spot, which has been trading at a premium ever since although I'm still not quite back to even. They do charge a 1% commission but they buy back at the 'bid' price which I think is usually only 5-10 cents below the 'ask'. Got the bag in 10 days, all nice looking Rosies. Any other experiences?
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/17/2008 : 19:42:39
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Monex is the big kid on the block. I think (I have never proven it) that Tulving buys from Monex and saves shipping and cost by picking it up himself and placing large orders. Then he resells on his site. In any case, they are neighbors.
If the price is right, I wouldn't hesitate to buy from them. Personally, I have always gone with Tulving because his prices include everything and the transactions are as simple as can be, but I have been tempted to give them a try...
So their prices are quoted price + 1% + shipping? Was their shipping reasonable?
"With client transactions now totaling over $25 billion, Monex Precious Metals is America's premier precious metal dealer because of our dedication to customer service and satisfaction." |
Edited by - horgad on 09/17/2008 19:44:22 |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/18/2008 : 15:43:24
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| placed an order today for palladium. only shop who has any. lots of fees and commissions but net net still better than everyone else's prices. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/18/2008 : 19:55:53
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quote:
Originally posted by Lemon Thrower
placed an order today for palladium. only shop who has any. lots of fees and commissions but net net still better than everyone else's prices.
I have been drooling over palladium a bit. If we get into a stagflation scenario, where the metals get separated into monetary and non-monetary groups with some going up and some going down, palladium could be the perfect place to roll you gold and silver into when you are ready to sell.
My ideal scenario is that gold goes to $2k and silver to $40 while palladium stays at this level or lower. Then I sell gold and silver and load up on palladium.
But if I had to bet at this point I would give slightly better odds on inflation over stagflation and that all commodities will start running up again before gold and silver hit my sell point... |
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darsemnos
Penny Sorter Member
96 Posts |
Posted - 09/18/2008 : 20:42:07
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quote:
Originally posted by horgad
Monex is the big kid on the block. I think (I have never proven it) that Tulving buys from Monex and saves shipping and cost by picking it up himself and placing large orders. Then he resells on his site. In any case, they are neighbors.
If the price is right, I wouldn't hesitate to buy from them. Personally, I have always gone with Tulving because his prices include everything and the transactions are as simple as can be, but I have been tempted to give them a try...
So their prices are quoted price + 1% + shipping? Was their shipping reasonable?
"With client transactions now totaling over $25 billion, Monex Precious Metals is America's premier precious metal dealer because of our dedication to customer service and satisfaction."
Let's say you buy 1000 silver eagles.
Say you pay $15,000, which seems about right right now.
Commission would be $150. Let's assume shipping is a hefty $50.
So that makes the total cost $15,150. The actual price per ounce extra you pay due to commission and shipping would be $150/1000= 15 cents. Even if shipping were $100, that would only be 20 cents extra per oz.
Tulving is 3.99 over spot for silver eagles. Monex is 2.30 over spot. So you still save a minimum of 3.99-2.30-0.20=1.49.
So, going with Monex over Tulving, you would save $1490 on 1000 silver eagles, or $745 on a box. In other words, you save 10%. Or, put another way, you can justify the cost of selling on ebay by buying from Monex instead of Tulving.
WOW!
I certainly just answered my own question. |
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knibloe
1000+ Penny Miser Member
USA
1066 Posts |
Posted - 09/18/2008 : 21:24:25
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| My brother and I were going to split a bunch of silver eagles from them the other day, but by the time we called they were out. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/19/2008 : 05:00:25
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horgard, thanks for your insights.
i bought a little pm when the prices started going down. started buying again when silver got under 11. was able to find some silver but not much. i noticed that platinum and palldium have not started to go back up. i think they are just lagging gold.
palladium was $500 and platinum $2000 when gold last crossed $1000. now i konw their connection to gold is much looser but why do you expect them not to rise until gold is at $2000?
for what its worht, I think silver crosses 100 when gold is a 2000, although gold will rise higher first as in the 70s/80s, and we have the potential for 5000/200. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/19/2008 : 08:12:53
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quote:
but why do you expect them not to rise until gold is at $2000?
All metals are money in a way, but some much more so than others. Palladium is almost exclusively an industrial metal with the biggest chunk of it being used in catalytic converters. Unfortunately, very few people view palladium as money.
So if the automobile industry continues to suck, palladium will continue to feel downward pressure. Right now (stagflation) palladium is getting pulled two ways: up by a weaker dollar and, more so down, by a reduced industrial demand.
Gold (especially) and silver (hopefully) are not feel the downward industry pull as much since people see them as money and as industry demand falls investment demand rises.
So, gains in Palladium will not keep up with gold until either industry picks up or until people start viewing it as money.
If/when I roll my silver and gold into palladium, it will be to reduce risk not because I am any good at exact timing. After, hopefully, what will be a very long run, gold and silver will again correctly sharply.
If I can roll out of gold and silver before another sharp correction and into a depressed palladium market, I will be content to wait 5 or even 10 years for industry to pick up and for palladium to make its next move. If/when gold hits 2k and silver hits $40 there will be no point in getting too greedy assuming that there is something else safe (safer?) to put your money into like palladium, farmland, copper, foreign currencies, or whatever is cheap at the time.
Gold might well make it to 5k...who knows, but will it be worth the risk to try and ride it there?
IMHO |
Edited by - horgad on 09/19/2008 08:18:36 |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/19/2008 : 12:36:17
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horgard, thanks for your view on palladium. i only disagree by degree. I think if gold doubles then platinum will roughly double and pull palladium with it. so while everything you say is true, i think and hope other forces will be acting to move it up. medium to long term the demand should skyrocket. american demand for cars will decline but only slightly, while world demand for cars should skyrocket, esp. in china and india where pollution is a severe problem becuase of the reliance on coal for electricity.
i will start lightening when gold hits 2000. will pay down mortgage, buy palladium, farmland, whatever is cheap as you say. i think the equivalent number for silver is probably 100. I don't plan to race to cash out becasue it could go well beyond those numbers. for example, the cpi adjusted price of gold should be 2350 compared to 800 in 1980, and that is based on teh government's phony numbers. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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n/a
deleted
18 Posts |
Posted - 09/19/2008 : 17:36:34
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APMEX is another good place to buy PM's. They're also pretty well known and trusted. You must be logged in to see this link.
Another place that sells near spot is You must be logged in to see this link. Only catch is they charge $25 for shipping no matter how much you buy, so you'd have to make large purchases to offset the shipping costs. |
Lack of planning on your part does not constitute an emergency on my part. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/20/2008 : 05:36:17
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quote:
Originally posted by NinjaPirate
APMEX is another good place to buy PM's. They're also pretty well known and trusted. You must be logged in to see this link.
Another place that sells near spot is You must be logged in to see this link. Only catch is they charge $25 for shipping no matter how much you buy, so you'd have to make large purchases to offset the shipping costs.
apmex is fine but right now they are out of the more popular items and their premiums are higher than tulving and monex. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 09/21/2008 : 23:50:33
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quote:
Originally posted by NinjaPirate
APMEX is another good place to buy PM's. They're also pretty well known and trusted. You must be logged in to see this link.
Another place that sells near spot is You must be logged in to see this link. Only catch is they charge $25 for shipping no matter how much you buy, so you'd have to make large purchases to offset the shipping costs.
According to the headline on their website, they charge spot plus $3.99 for ASE's. With the $25 shipping fee, you would really have to order alot to make it worthwhile.
Order 25 = spot + $4.99 average, roughly $17.56 each at today's price
Order 50 = spot + $4.49 average, roughly $17.06 each
Order 100 = spot + 4.24 average, roughly $16.81 each
So it's actually a solid premium over spot when you look at the percentages. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/22/2008 : 05:27:01
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| apmex is fine but has larger premiums than Tulving or Monex. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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n/a
deleted
2 Posts |
Posted - 09/22/2008 : 09:06:10
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| Shipping on my bag was $75 which is high but Monex does pay the shipping on the incoming funds too. Really I paid for it I guess. Commission was 1% of the sale. Even with the fees and shipping I still got delivery, from a commercial source, of a bag of 90% at less than spot during the frenzy of the past month. My concern, at the time, wasn't price comparision or even customer service. I was worried about what's inside that bag. I'm not searching for rare dates, I just wanted to be able to read the dates. All in all my experince was very positive. I had 9992 very nice Rosies and just 8 Mercs that I could only read 3 numbers of the date. So, are there 'bags' out there full of super-worn coins? Are there any standards that define just how junky junk silver can be? |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 09/22/2008 : 09:23:59
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quote:
Originally posted by miller
Shipping on my bag was $75 which is high but Monex does pay the shipping on the incoming funds too. Really I paid for it I guess. Commission was 1% of the sale. Even with the fees and shipping I still got delivery, from a commercial source, of a bag of 90% at less than spot during the frenzy of the past month. My concern, at the time, wasn't price comparision or even customer service. I was worried about what's inside that bag. I'm not searching for rare dates, I just wanted to be able to read the dates. All in all my experince was very positive. I had 9992 very nice Rosies and just 8 Mercs that I could only read 3 numbers of the date. So, are there 'bags' out there full of super-worn coins? Are there any standards that define just how junky junk silver can be?
That's a very valid concern. I think APMEX weighs their bags to make sure they come in at 71.2 ounces or more per $100 face. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/22/2008 : 09:35:45
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quote:
Originally posted by miller
Shipping on my bag was $75 which is high but Monex does pay the shipping on the incoming funds too. Really I paid for it I guess. Commission was 1% of the sale. Even with the fees and shipping I still got delivery, from a commercial source, of a bag of 90% at less than spot during the frenzy of the past month. My concern, at the time, wasn't price comparision or even customer service. I was worried about what's inside that bag. I'm not searching for rare dates, I just wanted to be able to read the dates. All in all my experince was very positive. I had 9992 very nice Rosies and just 8 Mercs that I could only read 3 numbers of the date. So, are there 'bags' out there full of super-worn coins? Are there any standards that define just how junky junk silver can be?
When buying bags, I expect a variety of average circulated common date coins. Anything more is cake. This would include some culls, but not a whole bag full of them. Some people advertise no culls on their bags and other people do not, but in any case I would complain if there were an unreasonable amount of trashed or excessively worn coins in a bag. Other than that you get what you get.
Several years back I bought a bag of 90% halves from Tulving and I was pleasantly surprised to get many, many Franklins as well some Walking Liberties and even a handful of Barbers. I also got a couple of holed coins and otherwise trashed coins.
I think that the thing to do is to try and keep the bag full and when the time comes sell it as a bag. So, replace anything that you take out with average common coins. That way you don't get stuck with the culls and you are still being fair.
I have been buying miscellaneous lots off and on for a long time to try and replace the Franklins, Walking Liberties, and Barbers in my bag with Kennedys. And also at the same time trying to get up to a half bag of Franklins. I don't think that I am quite there yet... |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/22/2008 : 13:22:40
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| my understanding is that on bags of junk silver, i think theoretically you could have 715 ounces at $1000 FV. some places charge you for 715; others charge for only 712 on the basis of wear and tear. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 09/23/2008 : 09:37:07
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quote:
Originally posted by Lemon Thrower
horgard, thanks for your view on palladium. i only disagree by degree. I think if gold doubles then platinum will roughly double and pull palladium with it. so while everything you say is true, i think and hope other forces will be acting to move it up. medium to long term the demand should skyrocket. american demand for cars will decline but only slightly, while world demand for cars should skyrocket, esp. in china and india where pollution is a severe problem becuase of the reliance on coal for electricity.
Unless someone develops a new catalyst that doesn't depend on palladium... then the value will drop like a stock. |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 09/23/2008 : 15:08:58
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palladium is a less expensive substitute for platinum in catalytic converters. apparently it is also a war metal, but i am not sure how.
most platinum and palladium come from S. africa and russia. if you follow the news, then you know why supply might be interrupted. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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snappy
Penny Collector Member
USA
301 Posts |
Posted - 09/23/2008 : 15:09:53
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quote:
Originally posted by NinjaPirate
APMEX is another good place to buy PM's. They're also pretty well known and trusted. You must be logged in to see this link.
bad thing with apmex is they charge 3% above shipping and on an order of 1000 fv 90% silver it comes to over $325 for just shipping/handling not sure how they compair to others but seems a bit high to me. |
Selling Ryedale sorted USA cents
1.5 each + shipping over 500fv 1.5 each +1/2 shipping
If you pick up 1.35 each
located MT/ND boarder.
after Ryedale sorting they are hand sorted to remove canadian then rechecked with Ryedale to insure all copper and count out $50 FV then placed in cloth bags and sealed with #1 copper wire. |
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natsb88
Administrator
USA
1850 Posts |
Posted - 09/23/2008 : 15:29:53
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quote:
Originally posted by snappy
quote:
Originally posted by NinjaPirate
APMEX is another good place to buy PM's. They're also pretty well known and trusted. You must be logged in to see this link.
bad thing with apmex is they charge 3% above shipping and on an order of 1000 fv 90% silver it comes to over $325 for just shipping/handling not sure how they compair to others but seems a bit high to me.
The 3% only applies if you pay by credit card. Mail a check or money order and the shipping is very reasonable (in fact I think it's free on an order of that size). |
Nate
The Copper Cave
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Anyone buy from Monex?
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