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Old 10-18-2013, 11:11 AM   #1 (permalink)
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Default Throwing an idea out there....APMEX group buys.

This was mentioned in another thread by a fellow stacker and it got me thinking it might be a good way for all of us to add to our stacks and maybe save a little money at the same time.

So what I was thinking is that we'd do it maybe once a month or once every couple months, it would depend on everyone's spending level etc. And ideally we would all be buying the same item. So for example, lets say this month we're going to do a group buy of 2013 pandas.

If you were to go on APMEX right now and buy 10 pandas, it'd cost you $30.88 ea x 10 = $308.80 + s/h. Now if we could get 6 guys together who ALL wanted to buy 10 pandas and do it as a group buy, then we'd get the quantity discount which would bring it down to $30.36 ea and we'd get the wire transfer discount which would bring it down to $29.48 ea. And you'd save some on s/h too. So now you get your same 10 pandas but at $1.40 per coin cheaper. And in a game where DCA is everything, saving $1.40 per coin is pretty huge.

Now that I think about it, we wouldn't all necessarily have to buy the same thing either, we'd just have to have enough people who wanted to buy the same thing to get into the quantity discount bracket. I think each item is different...pandas for example are 30+

I'd be happy to be the buy man if everyone would be comfortable sending me the paypal to do it. I've got pretty solid feedback on here and over 1400 on ebay. I would send regular updates to everyone at each step.

Got the money...
Order placed...
Order shipped...estimated arrival XX-XX-XXXX
Order received, packing up each person's order...
Everything is shipped, here's your DC #'s...
etc.

So I just thought I'd throw the idea out there...post here and let me know if that's something you'd be interested in doing and if we get enough interest maybe we can set one up for next month.
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Old 10-18-2013, 12:14 PM   #2 (permalink)
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Pandas for 30 bucks, hell yea I want in.
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Old 10-18-2013, 01:13 PM   #3 (permalink)
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sounds intriging and all... but after shipping charge from apmex is broken down, then you will ship out each order, we owe more shipping... maybe I am being negative, but I really don't see the savings after all that... its a great idea, I just don't think with the cost of shipping these days and they very small discounts apmex gives out for bigger orders... will work for us... thoughts??? if we can actually save some money then of course I am all in...



Quote:
Originally Posted by Texans81 View Post
This was mentioned in another thread by a fellow stacker and it got me thinking it might be a good way for all of us to add to our stacks and maybe save a little money at the same time.

So what I was thinking is that we'd do it maybe once a month or once every couple months, it would depend on everyone's spending level etc. And ideally we would all be buying the same item. So for example, lets say this month we're going to do a group buy of 2013 pandas.

If you were to go on APMEX right now and buy 10 pandas, it'd cost you $30.88 ea x 10 = $308.80 + s/h. Now if we could get 6 guys together who ALL wanted to buy 10 pandas and do it as a group buy, then we'd get the quantity discount which would bring it down to $30.36 ea and we'd get the wire transfer discount which would bring it down to $29.48 ea. And you'd save some on s/h too. So now you get your same 10 pandas but at $1.40 per coin cheaper. And in a game where DCA is everything, saving $1.40 per coin is pretty huge.

Now that I think about it, we wouldn't all necessarily have to buy the same thing either, we'd just have to have enough people who wanted to buy the same thing to get into the quantity discount bracket. I think each item is different...pandas for example are 30+

I'd be happy to be the buy man if everyone would be comfortable sending me the paypal to do it. I've got pretty solid feedback on here and over 1400 on ebay. I would send regular updates to everyone at each step.

Got the money...
Order placed...
Order shipped...estimated arrival XX-XX-XXXX
Order received, packing up each person's order...
Everything is shipped, here's your DC #'s...
etc.

So I just thought I'd throw the idea out there...post here and let me know if that's something you'd be interested in doing and if we get enough interest maybe we can set one up for next month.
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Old 10-18-2013, 01:35 PM   #4 (permalink)
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Quote:
Originally Posted by superynaldo View Post
sounds intriging and all... but after shipping charge from apmex is broken down, then you will ship out each order, we owe more shipping... maybe I am being negative, but I really don't see the savings after all that... its a great idea, I just don't think with the cost of shipping these days and they very small discounts apmex gives out for bigger orders... will work for us... thoughts??? if we can actually save some money then of course I am all in...
actually, I think you'd end up paying less.

obviously the more people get in on this the less the APMEX shipping charge ends up being per person, but lets say there are 5 of us.

if you were to go on APMEX right now (and I just did this) and order 10 pandas, the total right now would be $308.70 + $9.95 s/h.

if we did the group order, and (as an example) 5 of us each bought 10 pandas (and to be fair, I just did it and we'd have to buy 51 to get over the $1500 mark so we'll just say I'm buying the extra one) then your total would be $294.50 + $14.95/5 (approx. $3) + $5.15 for a flat rate when I ship it to you.

So...total doing it on your own, $318.65
total doing it in the group break, $302.65
savings = approx. $16 which equates to $1.60 per coin if buying 10.
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Old 10-18-2013, 01:42 PM   #5 (permalink)
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well that sounds pretty good to me... if you get enough people interested, I might just get in on that action...



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actually, I think you'd end up paying less.

obviously the more people get in on this the less the APMEX shipping charge ends up being per person, but lets say there are 5 of us.

if you were to go on APMEX right now (and I just did this) and order 10 pandas, the total right now would be $308.70 + $9.95 s/h.

if we did the group order, and (as an example) 5 of us each bought 10 pandas (and to be fair, I just did it and we'd have to buy 51 to get over the $1500 mark so we'll just say I'm buying the extra one) then your total would be $294.50 + $14.95/5 (approx. $3) + $5.15 for a flat rate when I ship it to you.

So...total doing it on your own, $318.65
total doing it in the group break, $302.65
savings = approx. $16 which equates to $1.60 per coin if buying 10.
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Old 10-18-2013, 01:45 PM   #6 (permalink)
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FYI, JM Bullion tends to be about $2 cheaper per ounce on silver.
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Old 10-18-2013, 02:31 PM   #7 (permalink)
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Group buys are always the best way to do it. But you can get a lot cheaper prices besides APMEX. Goldmart is $3 cheaper per panda. You would have to buy 1200 pandas from Apmex to get the same price per as goldmart. You guys should try and piggyback on a group buy through bullionstacker.com. it would probably end up $4 cheaper per panda than apmex. If not more, the hard part is finding stackers who want pandas over ases at a $2 per coin increase
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Old 10-18-2013, 02:33 PM   #8 (permalink)
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Quote:
Originally Posted by twoten01 View Post
Group buys are always the best way to do it. But you can get a lot cheaper prices besides APMEX. Goldmart is $3 cheaper per panda. You would have to buy 1200 pandas from Apmex to get the same price per as goldmart. You guys should try and piggyback on a group buy through bullionstacker.com. it would probably end up $4 cheaper per panda than apmex. If not more, the hard part is finding stackers who want pandas over ases at a $2 per coin increase
I think the Pandas were just an example... I am in for any in my signature...
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Old 10-18-2013, 02:35 PM   #9 (permalink)
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I mainly suggested APMEX because I've ordered from them before and I know they are reputable. twoten01, if there are other sites you've ordered from in the past that you feel are solid and have a good rep and offer better prices then I'd be all for it. Let me know your thoughts on other sites that might be good alternatives to APMEX. thanks!
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Old 10-18-2013, 02:43 PM   #10 (permalink)
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I usually use providentmetals.com way better pricing than apmex. I personally haven't ordered from goldmart.com, but I know people who ran a group buy on a monster box of gold eagles and everything went fine. Without getting in to purchases of mid 5 figures. Goldmart seems to be the cheapest.


There is a reason apmex has lowered their shipping, and it is because they are losing sales to these other sites. They still have way too high of premiums. With the volume they sell they could beat every site easily on prices, but they choose not to. So I choose to buy elsewhere ( and this is after spending close to 40k ina 2 year period, and probably 5 times that amount with group buys, over the years) if they start losing enough business, maybe they will smarten up
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Old 10-18-2013, 02:44 PM   #11 (permalink)
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Ase's are probably going to work best for a huge group buy. I would assume you would get more people wanting to get in on the deal.
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Old 10-18-2013, 02:52 PM   #12 (permalink)
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Yeah apmex is really expensive compared to a lot of places. That's why ive never ordered from them...id say lets buy a monster box of ASE's
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Old 10-18-2013, 02:52 PM   #13 (permalink)
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I have been buying from APMEX almost exclusively... I am thinking of at least giving providentmetals or mcm a shot...
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Old 10-18-2013, 02:53 PM   #14 (permalink)
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Quote:
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I have been buying from APMEX almost exclusively... I am thinking of at least giving providentmetals or mcm a shot...
provident is where its at and if you do the cash discount you save even more
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Old 10-18-2013, 02:55 PM   #15 (permalink)
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wow ur not kidding. I just took a look at providentmetals.com. Chinese pandas are almost $3 cheaper. I may have to give them a try for my next order.
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Old 10-18-2013, 02:55 PM   #16 (permalink)
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Quote:
Originally Posted by KEARYCOLBERT83 View Post
provident is where its at and if you do the cash discount you save even more
is there a minimum purchase to use the cash discount on provident like there is on APMEX?
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Old 10-18-2013, 02:56 PM   #17 (permalink)
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Quote:
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wow ur not kidding. I just took a look at providentmetals.com. Chinese pandas are almost $3 cheaper. I may have to give them a try for my next order.
The price does change when you check out...you are seeing the cash price...if you pay by CC the price does go up a little...but still cheaper than other sites
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Old 10-18-2013, 03:07 PM   #18 (permalink)
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I looked up:

APMEX $9.95 SHIPPING

PANDA 2013 $30.86
PAMP 1OZ $33.94
2013 ASE $27.23


PM 5.95-8.95 on my sized orders...

PANDA 2013 $29.09
PAMP 1OZ OUT OF STOCK
2013 ASE $26.31

a bit cheaper, I just did the one of each just to see where they stood for pricing... Both of these were for my paypal debit card payment just to check it out...I might at least try them out once just to see...
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Old 10-18-2013, 03:11 PM   #19 (permalink)
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MCM looks like all their prices are a little higher per item... $1-2 or so... but they offer free shipping...
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Old 10-18-2013, 03:17 PM   #20 (permalink)
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I like mcm since I can use PayPal. Provident is in Dallas so quick shipping for us too
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Old 10-18-2013, 03:24 PM   #21 (permalink)
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Quote:
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I like mcm since I can use PayPal. Provident is in Dallas so quick shipping for us too
true and true... I will do a comparison being they have those options, and I will give them a shot...
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Old 10-18-2013, 03:33 PM   #22 (permalink)
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I still want to know if PM has the minimum purchase requirement to use wire transfer.
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Old 10-18-2013, 03:54 PM   #23 (permalink)
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Yes. But send a money order. I would never buy pm's with a CC. The govt has seized gold from us citizens before, and it is not out of the realm of possibility that it will happen again (another reason most do not like posting pictures of their pm's). Don't make it any easier on the govt by letting them know what you buy. Also it will prove that you own pm's and when you sell you will be expected to pay capital gains.
I have sent mo's and have done wire transfers(not from an acct in my name). And they both go smoothly. I usually would mail out a mo on Monday and they were shipping my purchases by the following Monday.
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Old 10-18-2013, 04:00 PM   #24 (permalink)
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Quote:
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I still want to know if PM has the minimum purchase requirement to use wire transfer.
All pm sites will have a minimum for wire transfer. Usually $1500 but some are higher, I was told it is because they get charged for them. Also I believe most banks will charge you $15-20 to do a wire transfer. My mom is a vp at a bank here in Ny, so I was lucky to not have to pay, because if you do save the $, get a mo, and put the extra cash into more silver.
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Old 10-18-2013, 05:19 PM   #25 (permalink)
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Provident FTW!
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