Anyone dealt with Provident Metals? 1 1

[Woods020]

I’m about to sell off a bunch of ASEs and junk 90% stuff while prices are somewhat up. It takes up too much room so I’m paring way down. Anyway after shopping around Provident Metals has the highest buy price for ASEs I have found. A full $2/$3 per higher than SD/JM/Apmex etc.. I have never dealt with them before but they seem to get good reviews. Before I ship off a few monster boxes has anyone dealt with them? Good or bad experiences?

Edited May 16, 2021 by Woods020

[Alex in PA.]

7 hours ago, Woods020 said:

A full $2/$3 per higher than SD/JM/Apmex etc..

What's their offer?  Sounds interesting and I 've been threatening to get rid of my Silver.  Too heavy and taking up space.

[Woods020]

49 minutes ago, Alex in PA. said:

What's their offer?  Sounds interesting and I 've been threatening to get rid of my Silver.  Too heavy and taking up space.

 

Edited May 16, 2021 by Woods020

[Henri Charriere]

[My only advice... the market in precious metals can sometimes be highly volatile; be sure to check their site and the COMEX frequently -- and most importantly, lock in your price. This goes for any company you have, or have not done business with.]

[Dark Chameleon]

I flog all mine on fleabay because I can sell eagles at $40 each all day long...id have thought a coin shop would give you more then the dealers, my lcs would buy 3, 4, 5 monster boxes a day, id say unless time was of the essence then fleabay it all and buy some padded envelopes or flat price boxes from usps then print the shipping slip and tape it to the envelope, you can buy 100 envelopes from fleabay for $20 and shipping for most coins of up to 5 coins or avten ounce bar would be under $5....I've done this for hundreds of eagles and other types.

[Woods020]

8 minutes ago, Dark Chameleon said:

I flog all mine on fleabay because I can sell eagles at $40 each all day long...id have thought a coin shop would give you more then the dealers, my lcs would buy 3, 4, 5 monster boxes a day, id say unless time was of the essence then fleabay it all and buy some padded envelopes or flat price boxes from usps then print the shipping slip and tape it to the envelope, you can buy 100 envelopes from fleabay for $20 and shipping for most coins of up to 5 coins or avten ounce bar would be under $5....I've done this for hundreds of eagles and other types.

I’ve certainly debated this. I’m in no hurry. More I’ve more transitioned from bullion to numismatics over the last couple of years and when the time is good I’m looking to clear out a bunch. 

[Dark Chameleon]

1 hour ago, Woods020 said:

I’ve certainly debated this. I’m in no hurry. More I’ve more transitioned from bullion to numismatics over the last couple of years and when the time is good I’m looking to clear out a bunch. 

Thats exactly what ive done, shorten the size of the stack, converted some stacks into slabbed peace dollars, some numis have gone up with a limited downside unlike silver etc....easier to go to the sdb with an ngc box then a 1000oz of silver....lol.

[Coinbuf]

2 hours ago, Dark Chameleon said:

I flog all mine on fleabay because I can sell eagles at $40 each all day long...id have thought a coin shop would give you more then the dealers, my lcs would buy 3, 4, 5 monster boxes a day, id say unless time was of the essence then fleabay it all and buy some padded envelopes or flat price boxes from usps then print the shipping slip and tape it to the envelope, you can buy 100 envelopes from fleabay for $20 and shipping for most coins of up to 5 coins or avten ounce bar would be under $5....I've done this for hundreds of eagles and other types.

This sounds good until you run the numbers, if you do not have a store you will pay around 13% in fees under the new managed payments structure.  If you have a store those fees are less but using the non store rate at $40 per coin less the 13% equals just under $35 per sale.  Then you have to subtract your shipping costs of the envelopes and consider your time to list and package, and gas to drop off.   Yes you can make a bit more if your willing to invest the time and energy to feebay it yourself and if you have a store on feebay you can do better than my example as the fees are lower, just depends on your personal situation and goals.

[Coinbuf]

Also just a heads up, if you are shipping bullion remember that the USPS insurance does not cover it unless you ship registered mail.   If your package (or its contents) is lost using any other service level you will not be covered and are out the goods and the cost of the insurance.  There is a member on the PCGS forum that just committed death by moderator over a bullion buy dispute with another member and this point was brought up in that thread.

Edited May 16, 2021 by Coinbuf

[Woods020]

28 minutes ago, Coinbuf said:

This sounds good until you run the numbers, if you do not have a store you will pay around 13% in fees under the new managed payments structure.  If you have a store those fees are less but using the non store rate at $40 per coin less the 13% equals just under $35 per sale.  Then you have to subtract your shipping costs of the envelopes and consider your time to list and package, and gas to drop off.   Yes you can make a bit more if your willing to invest the time and energy to feebay it yourself and if you have a store on feebay you can do better than my example as the fees are lower, just depends on your personal situation and goals.

Completely agree. It comes down to maybe $1 give or take per. And the hassle is much less selling in bulk. 
 

I had been told previously about the insurance on precious metals. Apparently the only way to properly insure them is USPS registered mail. Other USPS and UPS/FedEx exclude PMs from their insurance policies. Or that’s what I was told previously when I shipped some to a dealer. 

[jtryka]

I have dealt with them before and not had any problems.  As for selling, I usually just try to do it locally to avoid the hassle of mailing stuff around.