The Survival Podcast Forum

Finance and Economics => The Money Board => Topic started by: littletea on September 21, 2017, 06:16:47 AM

Title: Safest payment choice for gold purchase
Post by: littletea on September 21, 2017, 06:16:47 AM
So we're looking to buy a little gold.  It's been a while and I can't recall exactly how we paid for the online purchase.  What is the safest most discreet way to pay for it?  Paypal, Wire Transfer or ACH transfer?  I'll add I would only use PP with a well known reputable dealer (a well known seller on the TSP).
Title: Re: Safest payment choice for gold purchase
Post by: theBINKYhunter on September 21, 2017, 10:47:58 AM
I've always used ACH when I buy. I'm sure you could use PP as well, and they have very good buyer protection so if a dealer hosed you they would probably reimburse you.

Stick with major dealers of precious metals and you'll be fine. I've purchased from JM Bullion and Silvertown in the past with no hickups. There's a third one in there but I left them when they prices were noticeably higher than other dealers (can't recall their name, it was a long time ago).

EDIT: Wrong Broker Name.
Title: Re: Safest payment choice for gold purchase
Post by: Mr. Bill on September 21, 2017, 11:07:31 AM
I guess it depends on the size of the purchase, and who you want to be "discreet" from.  I've used bank wires, and it's a real annoyance to be asked the purpose of the transfer, to be written on their form.  But my bank knows us and our financial stuff well enough that I don't expect them to raise a red flag about this sort of transaction.

I know some people prefer to just pay cash at a local coin shop, but then you have an entirely different set of security issues.

I did use PayPal long ago for some collectible coin purchases on EBay, and never had any problems, but I don't know what the situation is nowadays.

Recently I've been dealing with Texas Precious Metals (https://www.texmetals.com/), and I've been very happy with how they do business.  At the moment they still have a $1000 minimum order, but sometime this month they will be going over to no minimum order, and allowing credit cards for payment (https://www.texmetals.com/news/big-changes-coming-september/).
Title: Re: Safest payment choice for gold purchase
Post by: FreeLancer on September 21, 2017, 01:49:19 PM
Safety, for me at least, means receiving all of the precious metal I ordered in a timely fashion.  For my typical $2-3k purchases from APMEX, I’m more than happy to pay the 2-3% credit card fee for using Bank of America’s money for 45 days, which comes with the recourse of reversing charges should the deal with the seller or shipper go south.
Title: Re: Safest payment choice for gold purchase
Post by: mountainmoma on September 21, 2017, 10:56:55 PM
You can just send them a check, too. There is a lower price to pay with cash ( which means a check), this does delay shipping until your check clears, Important point is to deal with a reputable seller. JM Buillion and Provident Metals are 2 more that I have heard good things about, very reputable, etc....