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How is bullion priced?
All of our Gold, Silver, Platinum, and Palladium coins are bought and sold buy their actual precious metal weight times the spot price of the precious metal, plus or minus a premium. For an American Gold Eagle, it has 1.0 AGW (actual Gold Weight in troy ounces) x the price of gold, $1,775 + $75 premium for a total cost of $1,850.
A more complicated example would be 90% Silver American coins. $100 Face Value of these coins has 71.5 ASW (actual silver weight in troy ounces) times $27.50 spot price of silver plus $2 premium for a total cost of $2,109.25 or 21.09x Face Value.
Is the Premium your profit?
Nope. Sure wish it was. The premium is a marketplace driven price. We are simply reacting to where the price for physical metal delivery is trading.
Am I Better Off Buying Low Premium Products?
Nope. If it's low premium now, what do you think the demand for it will be when you need to sell? The reality is that most of the bid/ask spreads are similar. The overall level of the bids and asks go up and down with the demand for the particular product. Please note there is a big difference between spread and premium. The spread is the difference between where a dealer will by or sell a particular product, whereas the premium is the price of the product relative to its intrinsic precious metal value. They have little to do with one another.
May I place an order over the phone?
No. We do not accept phone orders.
What forms of payment do you accept?
There is a tremendous amount of fraud and fraud attempts in this business, and, with single digit margins, we simply cannot absorb these losses. We only accept cash, check, pin-debit, and wire transfer payments. Checks may be held for as long as 30 days.
We do not accept any credit cards, cashiers checks, money orders or Paypal. We've been defrauded by all of them.
What is your return policy?
We do not accept returns from this site for any reason. If you are unhappy with your purchase, please contact us as we will make an offer to repurchase it. If it has been damaged in transit, our insurance will contact you.
Do you ship internationally?
How Long Does it Take to Receive My Coins?
If you paid by wire or cash, we generally ship within 24 hours. Keep in mind we are closed on Sunday and Monday. Pin-debits are held for four business days before shipping to give time to detect fraud. Orders with check payments may be held for 30 days from date of deposit. We've had the bank come back after 30 days and tell us the check was bogus. We currently ship by USPS and every package requires a signature guarantee. Our insurance liability ends once the package has been signed for.
Is Investing in Gold and Silver Bullion Risky?
We make no guarantees about the future potential for price appreciation in precious metals. Investing in precious metals in risky and may result in significant losses. Please consult your investment advisor and accountant for advice on investing and potential tax liabilities.
Many bars or coins are graded and authenticated by third party services. However, grading and /or authentication does not eliminate market risk nor guarantee associated risk with the grading of coins.
You expressly acknowledge that we do not give any investment advice, recommendations and/or guarantee profits and you shall be solely responsible for making any decision to purchase and/or sell bars or coins, bars or any other form of precious metals. In addition, you represent and warrant to Penny Pincher Coins that you have sufficient knowledge and experience to make informed decisions to purchase from and/or sell to Penny Pincher Coins. You also expressly acknowledge that you are subject to a variety of risks, which risks are beyond the control of Penny Pincher Coins, and you expressly acknowledge that Penny Pincher Coins is not liable or responsible for those risks, for which you have sole responsibility. Those risks include, without limitation, risks associated with the price volatility of the products, particularly precious metals. Under certain market or other conditions, you understand and acknowledge that you may not be able to liquidate any purchased products or liquidate the purchased products at prices acceptable to you.
We advise you that prior performance cannot be used to predict future value of bars or coins. In making any decision to buy coins or bars you should view such decision strictly in context of purchasing such coins or bars as a collector of coins or bars and any investment advice should be obtained by your own financial advisor.
All investments involve risks – bullion bars and coins are no exception. You are reminded that the bullion and coin market is volatile and bullion bar and coin prices will fluctuate. The value of a bullion bar or coin is affected by many economic factors, including the current market price of precious metals and the perceived scarcity of the bars or coins among other factors. Consequently, you can lose or gain on your principal and the resale value of your bar(s) or coin(s) may or may not be equal to the original purchase price. Therefore, investing in these bars or coins may not be suitable for everyone. You should consult with your advisors to ensure you have adequate cash reserves and disposable income before considering a bullion bar or coin investment.
We accept cashiers checks, wire transfers, personal checks, and cash. We do not accept cash in excess of $10,000. Cashier checks and personal checks can be dropped off at our storefront, mailed to us, or direct deposited into our customer dedicated incoming payment bank account. Click here for our mailing address. We highly recommend wire transfers for orders greater than $10,000 as there will no holding period. Orders using cashiers checks or personal checks will be held by us until the check clears the banking system, which ranges from 3-17 days. For wiring instructions, please call us on 1-877-471-7528 or 1-415-383-7411. We highly recommend wire transfers.