Where to Find the Bestest Deals in Physical Gold and Silver
Casey Research says to listen to them about Where to Find the Best Deals in Physical Gold. We say, hold on a second! The dealers mentioned by them might be fine as far as service, but their prices are nowhere near the best. They aren’t even very good for that matter. And the recommendation to buy the Kitco Pool Account (unallocated silver) without any caveats about risk? Simply reckless.
We have personally used a number of bullion dealers in the past and by far the best combination of customer service, price, delivery time, transparency and lack of pressure tactics came from two dealers, both of which publish their bullion availability, current prices and all sales terms on the Internet. We are not endorsing these dealers but in light of the inferior alternatives the Casey Research team is pumping, we feel it is important to let our readers and subscribers know how we feel.
Some of you who have followed us for a while can probably guess who these two dealers are:
Tulving has probably the best combination of prices, inventory and sales terms that we know of although some of the bigger dealers such as APMEX may be as good (we just haven’t used them enough to know for sure). For example, 90% junk silver bags are currently selling at spot silver with free delivery. Compare to Casey’s dealer recommendation of $2.20 per ounce over spot. You want to listen to Casey and pay $1,500 more per bag? Go ahead. The one bummer about Tulving is that the minimum gold purchase is 20 ounces although the minimum silver purchase is a more reasonable 500 ounces. On the other hand, if you are a non-U.S. citizen, you can set up a segregated storage account at any major U.S. facility, buy from Tulving, and he will deliver the bullion to the account. Then, depending on your country’s import rules, you can either have the facility ship the metal to you or take a trip to the U.S. after arranging to pick up the metal from the facility. In any case, shipping and insurance is free on all Tulving orders.
CNI is a very good alternative for smaller purchases. The minimum is $2,000 in any combination of gold and/or silver bullion and shipping and insurance are free. Prices are pretty good (sometimes even better than Tulving). For example, Silver Eagles are currently just $2.25 over spot for either the 500 ounce monster box of 2009 Silver Eagles or for pre-2009 Silver Eagles in 100 ounce increments. Compare to Casey’s dealer recommendation of $4.50 per ounce over spot. And if you want pre-2009 monster boxes of 500 Silver Eagles, Tulving has them as low as $1.99 over spot right now.
Look, we aren’t saying now is a great time to make a big purchase of physical gold or silver, but if you are going to buy, for example as part of a monthly or periodic purchase or because you are adding to core positions, at least you should pay the smallest premium while still buying from quality, established companies.
Readers who have their own favorite bullion dealers are welcome to mention their experience in the comments section. Also, any of our foreign readers who are willing to consider trying the Tulving Overseas Customer Plan or similar program offered by other U.S. dealers, please consider sharing your experience with the rest of us.
If you do consider buying from either Tulving or CNI, please let them know Metal Augmentor sent you.
NOTE: We don’t have any relationship with either Tulving or CNI other than being previous customers. We haven’t been paid by either company and the above discussion should not be considered an endorsement or recommendation. The reason we ask you mention us if buying from them is because we know businesses appreciate hearing how customers found out about them. Also, Tulving and CNI will probably be more willing to share market information with us that we can then pass along to all of you.
Well the lastest COT report does appear to be very negative for silver and gold shorterm. Apparently had it not been for the big shorts increasing there massive short position into the rally. The price of silver and gold would of gone much higher. My god how can anyone argue against manipulation. The massive paper short position in silver is so large in comparsion to the long position that its getting out of hand. So blantant is the manipulation that if the ratio was just 2:1 short to long, instead of 4 plus:1, silver would probably be at $30-$50. See butler makes a very good point, had it not been for the big shorts, shorting another 80 million ounces of paper silver the rally would of been much stronger. Outside of gold and silver does any other commodity have such a out of whack short to long position or ratio. The CFTC continues to allow the big shorts to criminally manipulate the market by allowing them to sell massive amounts of paper contracts to keep a lid on gold and silver, especially silver everytime there is a rally. http://www.investmentrarities.com/ Read Butler’s lastest COT report commentary.
Exactly!
I have used Tulving numerous times over the last 7 years purchasing over 400 oz of gold and over 20000 oz of silver for both personal holdings and an IRA account. First the good news. They had the best prices I could find and I always received my purchases in full.
However, I would never use them again for an IRA account. I transfered an existing IRA to a custodian that was promoted by Tulving on his website. I purchased a significant amount of gold and silver eagles after the account was set up through Tulving and the process really was seamless. No complaints. When I tried to sell (at the last spike up to 1000 gold-20silver) I was informed they no longer do business with the IRA custodian they promoted. No notice. Nothing. I scrambled around and found Don Stott at ColoradoGold.com to handle the sale. BTW, his son David was very professional and I actually received a better price on the sale than Tulving. Tulving has better buy prices than ColoradoGold.
The other problems (small) I had with Tulving was wiring funds for Gold Eagles and they were not sent the following day as their website says free overnight shipment within 24 hrs with the money wire. They were not in stock, but I received them a few days later. I was not told they were not in stock.
Now onto the silver delivery problem. Same purchase date as the eagles above. I ordered 1,000 10 oz A-mark bars and was told there would be a slight delay as they needed to be shipped from elsewhere. I think they were shipped by A-mark. Anyway, they were sent USPS instead of UPS. USPS refused to deliver the shipment to me because it was too heavy. I had to go to the distribution center and pick it up. Of course when I got there only half the shipment was there and had to come back the next day to get the other half.
But I did get it. That is not a Tulving problem, but make sure if you order 700+ lbs of silver it is sent UPS.
My next purchase will be from Coloradogold. If one looks at both the cost of purchasing and what one receives on a sale, I think they are very competitive. And imo, they are above reproach.
Tom,
All stike prices for Gold calls at 950 and below were in the money yesterday. I believe there are 40,000 contracts that could stand for delivery, which is 2X what Comex has. Your comments on this.
What do you think http://www.lemetropolecafe.com
What do you think http://harveyorgan.blogspot.com/ sorry for link above
Gold calls are typically not used to convert futures to delivery. The key is to watch the open interest and first day deliveries. At this point I would be extremely surprised at any large deliveries taking place in June COMEX gold but nothing should be taken for granted in this market.
Hello trex, thanks for your first post here, that seems like an interesting site, not into the conspiracy angle but they seem to be unto some information that might be worth following. As far as 119 May COMEX silver contracts still outstanding, I doubt that has to do with any type of default on delivery but it could mean that deliveries are now coming from new sources that have not historically been active in the market.
@chiff
Hello chiff, Thanks for providing your experience, it is important to always check with the bullion dealer that they have the actual bullion in stock and not simply drop shipping. I also wish Tulving only sold what they had in actual stock that same day as they would be able to control the issues you raised but I don’t think the prices would be quite as good. That said, I have heard many positive comments about Colorado Gold and Don Stott so I’m sure you will be served well by them. Bottom line, my point wasn’t to say which dealer is the best only that Casey did not do a very good job for PM investors with his “recommendations”.
Call it what you will, but for close to the past 20 years the price of gold and silver have been actively suppressed; moreover, The U.S. Treasury dept, especially under Bob Rubin, Larry Summers and the boys from Goldman, has been instrumental in that effort; further, the U.S. Govt has intervened itself or turned a blind eye to manipulations of the COMEX in order to achieve that end. I’m not at all a conspiracy theorist (Oswald alone was guilty), but this is all too self-evident. At times, I think Jim Willie exaggerates, but this time he may be getting close, if you read his latest missive.
@kondor
TO BE…OR NOT TO BE and CONSPIRACY THEORIST
Kondor…first off, I agree with your assessment of GOLD and SILVER, along with what JIM WILLIE stated in his last article, claiming COMEX and LBMA HITMAN are on the WAY. But, I have to clarify one other thing.
A person can’t be JUST A LITTLE CONSPIRACY THEORIST. It’s like being a LITTLE PREGNANT….you are or ya CHAIN’T.
ON THE RECORD, I believe JFK was killed by the OLIGARCHY using different forms of the CRIME SYNDICATES. I believe MARTIN LUTHER KING was also killed by the OLIGARCHY. I believe 9-11 was an inside job, just as well as the GULF of TONKIN incident…so on and so forth.
Once someone is a PROSTITUTE….you don’t expect them to stop being one…or if someone is like HITLER or STALIN…they won’t become BORN AGAIN CHRISTIANS and turn their life around. They will go down in FLYING COLORS killing as many as they can on the way down to HELL. So….if you understand this principle…than the OLIGARCHS have been pulling the strings for quite some time now. So it makes sense that a RASH of this kind of ACTIVITY is not all together UNBELIEVEABLE. It’s UNBELIEVEABLE to me that people think it’s NOT TIED TOGETHER.
That is why if you believe in JIM WILLIE JUST A LITTLE, then you are a CONSPIRACY THEORIST. Because WILLIE believes in the BILDERBERGS, OLIGARCHS, CRIME SYNIDCATES and etc. Unforuntately….many people are either NAIVE, or TOO SOFT to believe otherwise. Many people just can’t WRAP it around their HEAD that the world is being RUN BY OLIGARCHS (who are starting to lose control…mind you) for quite some time.
Anyhow…..we could just talk about the WEATHER and SPORTS if you would like to keep PASSION out of this BLOG.
SRSrocco
I respect your passion and share many of your views – though some are more a matter of convenience on my part as I am too lazy to find hard data to support them.
But let’s take it easy on those who prefer (attempt) to keep things objective.
Dispassionate discussion can often be more persuasive than a passionate one. Passion is a great internal motivator, but externally it’s a turn off.
On a different point, I disagree with your “all or nothing” views regarding conspiracies, evil, prostitution etc.
Isn’t that a bit tyrannical – even I might suggest Hitler-like evil?
Your pregnancy cliché doesn’t work. Defining a pregnancy as a one or zero event might be appropriate but applying the same rules to define the course of a pregnancy is inappropriate. The same is true I think with these topics.
As our society suffers through this disintegration and the eventual rebuilding, I would hope polarizing dogma is replaced by thoughtful, calm, rational discourse. If not, we will repeat the worst of history.
Best wishes.
@BarbarianWho
I agree with your hope of “POLARIZING DOGMA” being replaced by thoughtful, calm, and rational discourse. But as Bob Chapman reminds us on his daily radio shows, the FRENCH CUT OF the HEADS OF 300,000 people during the FRENCH REVOLUTION. This is not something that I wish for…but if you want be to be “OBJECTIVE” and use History as a guide, then I would say…you get what you get…and not what you hope for.
I am more like a quite PASSIONATE PERSON even though my words seem otherwise. I spend a great deal of my time in the garden, orchard and out in the fields getting close to what I call the “REAL OBJECTIVITY”, and that’s nature. So when it seems as if I am really Passionate and maybe Dogmatic…..the opposite is true. In the real world you would never know of my views as most people are TOO WEAK and have TOO GENTLE OF A STOMACH to talk openly about such matters….so the GAMES GO ON…..and I MAKE BELIEVE and talk SPORTS and the WEATHER. Here, I can let a LITTLE of my VIEWS OUT.
Regardless, the DISINTEGRATION is on its way….and I don’t believe the REBUILDING will be successfull, unless we AMERICANS SCRAP THE SUBURBAN SPRAWL IDEALOGY and move to a more LOCAL PRODUCTIVE ECONOMY.
should read…I am more like a quiet PASSIONATE PERSON….not quite….LORD HAVE MERCY…you would think I would learn by now.
I subscribe to Casey’s BIG GOLD, and have seen their recommendation for Kitco previously, much to my dismay. I would not recommend any pool account anywhere, even here in Western Australia at the Perth Mint.
I am involved with YOUnique Wealth (www.youniquewealthglobal.com) which was founded by Philip Judge from Anglo Far East Bullion Company (www.anglofareast.com). We ship small denomination PRIVATELY minted coins from Switzerland to customers doors via Swiss Post (and soon Fed Ex) fully insured. We will also begin shipping 100toz and 250toz silver bars within the next 2 weeks. Storage options with Via Mat in Zurich are also available.