Jerseyboy....
I don't know. Had too many family members and friends get burned by MLM that I would be quite suspicious. Would be curious how prices go and what you get at those prices. Seems you start at 6% above spot...is that for gold and silver? When it is time to ship is it something reasonable like $8-$20 and no additional fees? Or handling fees on top of that? Any additional fees for 1oz silver vs bigger bars?
JMBullion offers pretty good weekly 'any quantity' specials. And always FREE shipping on orders above $100. Not sure if MSB members still get a discount, but it had gotten smaller last time I was MSB. So not a HUGE break.
The initial buy in cost goes down the more you invest. The MLM part is that a portion of the initial buy-in goes to anyone who you say recommended you. When I signed up, I did not give a code, so no-one gets that percentage.
After that the money goes directly to purchase of bullion at negotiated spot price that day. Basically, they know how much customers are going to invest that day and they make one bulk purchase and distribute it. Or that is kind of what happens. On any given day people are trading in their bullion for coin so they don't have to purchase everything from the market.
That physical amount is assigned to you account until vault. So you pay monthly storage on your amount which is about a penny per ounce of silver a month which is peanuts. Minimum shipping size is 20 ounces which is free shipping. Conversation to coin is based on ounces of silver which translates to about $3 for an American eagle which is by and far the most expensive to $0 for 1000 of bar.
I like it for dollar cost averaging. I don't track the market daily but I have had some purchases done at some market lows and some higher. But if I was playing the market, I wouldn't have enough money to buy at every low $100 at a time a JM Bullion (which I do use too).
This is a set it and forget it account which auto deducts from my checking account.
I was afraid at first that the whole thing was going to go under and I would lose my investment but they make money no matter what so it is a solid foundation. I have been doing this for over two years.
Also, the bullion in your account is extremely liquid and can be sold at any time at spot price (might be a trading fee, never done that) and money transferred back into checking.
I think this is good for small investments over time. I think I calculated the total cost vs JM Bullion and it is only slightly more but the system is different and is more flexible so you pay for that.
If anyone wants to sign up, PM me. No cost to sign up and you never have to use it if you don't like.
They also do gold with a minimum shipable amount of 0.5 ounces
Jerseyboy
