Group buy?

[rexmerdinus]

I'm hooked up with Preservation of Wealth, which is an MLM-model company that sells gold and silver at their cost. Thought I'd put this out there to see if anyone's interested in a group buy.

First off, their "spot price" is usually a few cents different from what Kitco is reporting--right now, Kitco is 29.10, and P.O.W. is saying 29.14.

Shipping is pretty reasonable, higher on small purchases--fully insured and always only $22.00 or less, and free if I purchase 250 ounces of silver or more. My last purchase was 20 ASE's and they charged me 14.35 to ship, so like I said, higher on small lots. That lot was ordered on 4/25/12, and it arrived at the post office between 5/3 and 5/7 (I was out of town, so I'm not sure what day it actually arrived).

I don't have enough dry powder to do ACH or bank wire, so I use my credit card, for which they charge 2.5%. Sucks a little, but not too bad. That's the world I live in.

I'm not going to transcribe all their prices, but here are some. If you go the website http://preservationofwealth.net/rexmerdinus and click on "shop", you can see their prices, even though you can't buy unless you join. I'm already a member, so that's why I'm offering to manage this group buy. ASE's are usually around $2.00 over spot, so as I type this they're $31.14. Same on the Maple Leafs and Silver Philharmonics. Generic rounds at this spot are 29.86, generic 10-oz bars 295.11, geberic 100-oz bars 2966.09, JM or Eng. 100-oz bars 2976.09. Gold Eagles are 1,636.23, with similar good prices on all other gold products--franctionals, buffalo, leafs, phils, and bars.

I'm looking at zero net on this deal, so I'd like to avoid Paypal fees if at all possible, so postal M.O., Cash, or PayPal gift is much preferred.

So, bottom line, here's what you'd be looking at--
Spot + (approx) $2.00 per ounce;
+2.5% credit card fee;
+shipping, up to a portion of $22.00 pro-rated by total dollar amount you'd be in for, or zero if we get an order of 250+ ounces;
+shipping, insured, from me to you;

I think that's it! This post isn't official, so no commitmemts yet--just testing the waters to see what kind of interest is out there. If I get a few folks responding, I'll put another one out with a cutoff time and date.

Jason J. Torrick
aka rexmerdinus

[97guns]

check out goldmart , close to the same pricing with free shipping over 5K

[Neckro]

Sounds like a MLM.

[TheJonasCollegeFund]

Sounds like a MLM.

??????MLM??????

[reddirtcoins]

Multi Level Marketing.

[mflugher]

SO if they sell gold and silver at cost, how do they make any money to pay you a commission? Just askin...

[TheJonasCollegeFund]

I'm such a dork anymore!

[rexmerdinus]

Well, they're like any MLM company in that the "widget" they sell--in this case, bullion--is not where they make their money. The company basically exists to sell itself, so the money is made on membership fees. Their hope is that members, like me, will sell the program, but it's not a requirement. I, for one, have never sold an MLM membership to anyone, and I don't care if I do now. Some people are really into the MLM thing, and they make a good living at it, but I've never been much of a salesman type. The only realson I joined is because the widget they are hawking is something I actually want--bullion, instead of soap or vitamins or whatever--and I can buy it at a price and in a way that makes a lot of sense for me. There is no commission going to me--the benefit to me is the ability to buy bullion on the cheap, and the company is able to provide that because they buy in a pretty high volume. My membership already exists. It cost me $249.00, which I've already made up after the first 130 ASE's I bought (this is in comparison to APMEX...I haven't investigated GoldMart much, but it may in fact be a better deal). They actually ask that members not buy their bullion products for non-members (since the company survives on membership fees!), but whatever--after I have it I figure I can do what I want with it.

So there it is. Just thought I'd put the group-buy idea out there--you won't insult me if you think it's a bad idea and say so! Take care and stay safe, all

[deacon]

I came to the same conclusion. The website has good prices for bullion, but not good enough to pay for shipping for a group buy, and then shipping to yourself.
That being said... if you just want bullion direct, it looks like a good place to buy. I don't buy enough to justify signing up for this though.

[Copper Catcher]

The Bottom Line About Multi-Level Marketing Plans

Multilevel or “network” marketing plans are ways to sell goods or services through distributors. Typically, these plans promise that if you sign up as a distributor, you’ll get commissions not only from the sales you make, but also from the sales of the people you recruit to become distributors. These recruits sometimes are called your “downline.”

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Evaluating a Plan
What’s involved in doing research? Asking your sponsor and other distributors tough questions, and digging for details. Don’t consider it nosy or intrusive: you are on a mission to check out a potential opportunity that will require your money and your time.

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•How long has the company been in business? Does it have a positive reputation for customer satisfaction?

•What can you find out about the product and the service?

•What’s the buzz about the company and the product on blogs and websites?

•Has anyone sued the company for deceptive business practices? Checking with your local Better Business Bureau, Chamber of Commerce and state Attorney General for complaints about any company you’re considering investing in is a prudent thing to do. But remember that a lack of complaints doesn’t guarantee a company’s legitimacy.

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Asking Questions

Here are some important questions to ask your sponsor and distributors at different levels of the organization. Their responses can help you detect false claims about the amount of money you may make and whether the business is a pyramid scheme.

1.What are your annual sales of the product? How much product did you sell to distributors? What percentage of your sales were made to distributors?
One sign of a pyramid scheme is if distributors sell more product to other distributors than they do to the public.

2.What were your expenses last year, including money you spent on training and purchasing products? How much money did you make last year — that is, your income and bonuses minus your expenses? How much time did you spend last year on the business? How long have you been in the business? How many people are in your downline?

It’s important to get a complete picture of how the plan works: not just how much money distributors make, but also how much time and money they spend on the plan, how long it takes to make money and how big a downline is needed to make money.

3.What percentage of the money you made — income and bonuses minus your expenses — came from recruiting other distributors and selling them inventory or other items to get started?

Another sign of a pyramid scheme is if the money you make depends more on recruiting — getting new distributors to pay for the right to participate in the plan — than on sales to the public.

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

October 2009
Source: http://business.ftc.gov/documents/inv08 ... ting-plans

[ScottyTX]

Just a thought, but Tulving is offering BU Monster boxes at 1.99 over spot and free shipping..........Would be good for a Big group buy. I might do this in the near future and pay up front for the box myself. For lower amounts though your rates are pretty decent and wouldn't be a bad buy if someone was looking to buy in right now. Just my two cents on the matter!

Scott

[mbailey1234]

Just a thought, but Tulving is offering BU Monster boxes at 1.99 over spot and free shipping..........Would be good for a Big group buy. I might do this in the near future and pay up front for the box myself. For lower amounts though your rates are pretty decent and wouldn't be a bad buy if someone was looking to buy in right now. Just my two cents on the matter!

Scott

We called them today and the best they would do was $2.49 over but it was free shipping (Don't think they had any of the $1.99's left). Only problem is my bank charges different rates for a wire and that's all Tulving will take for payment. It would have been freaking $60 to wire over 10k now! On 500 that's only a $0.12 premium but screw the $60 fee if possible. I can simply write APMEX a check and mail it. Granted it takes a few more days to get delivery but we weren't in any rush.

[mflugher]

Well, they're like any MLM company in that the "widget" they sell--in this case, bullion--is not where they make their money. The company basically exists to sell itself, so the money is made on membership fees. Their hope is that members, like me, will sell the program, but it's not a requirement. I, for one, have never sold an MLM membership to anyone, and I don't care if I do now. Some people are really into the MLM thing, and they make a good living at it, but I've never been much of a salesman type. The only realson I joined is because the widget they are hawking is something I actually want--bullion, instead of soap or vitamins or whatever--and I can buy it at a price and in a way that makes a lot of sense for me. There is no commission going to me--the benefit to me is the ability to buy bullion on the cheap, and the company is able to provide that because they buy in a pretty high volume. My membership already exists. It cost me $249.00, which I've already made up after the first 130 ASE's I bought (this is in comparison to APMEX...I haven't investigated GoldMart much, but it may in fact be a better deal). They actually ask that members not buy their bullion products for non-members (since the company survives on membership fees!), but whatever--after I have it I figure I can do what I want with it.

So there it is. Just thought I'd put the group-buy idea out there--you won't insult me if you think it's a bad idea and say so! Take care and stay safe, all

I had no intention of insult, it was just personal curiosity. personally I have too much silver coming in right now and don't need to buy.

Most MLM do pay commossion based on products sold as well though... so if they only pay commisions on memberships thats definately different from any MLM I've seen.

[ScottyTX]

It says on the website that 1st time customer's have to pay by wire but if your a returning customer they will accept a check in the mail overnighted. Hummm, well poey I bought my last couple of monster boxes eleswhere, not looking too much better now.....and that's only if they have the 1.99 misc BU monster boxes in stock sigh. So .40 more per coin plus shipping is a better deal at Apmex?? I haven't investigated into this any further as of yet. Getting ready to load up and running the options

It looks like if Rexmerdinus could buy these at 2.00 over spot--- free shipping---and "not" have to pay by credit card (a +/- .80 added over spot per eagle) so 2.80 over spot per se. It would be close to the best deal out there.

[Silver Addict]

So .40 more per coin plus shipping is a better deal at Apmex?? I haven't investigated into this any further as of yet. Getting ready to load up and running the options

Apmex has a free shipping code for orders over 3k right now. FREESHIP3K

[rexmerdinus]

@coppercatcher--True all, and you make good points about prudent precautions. As I said, I neither have nor care about any downline. In my own experience, I've found MLM people and groups to be rather...well, cultish. But this one works for me because of the products they carry, and I thought I'd put my membership out there as a conduit for RealCenters to acquire silver and gold cheaply without having to sign on to "the program".

I had no intention of insult, it was just personal curiosity.

None taken! BTW, I checked out GoldMart, and while I like that they offer free shipping for purchases over $5k, they also use that number as a threshold for not accepting credit cards. I think every company has a cutoff, but theirs is a little low for me. Not exactly a deal-breaker, but I'd like to continue using my business credit card for bullion purchases. Anyway, I know everyone's situation is different. Just putting the idea out there. I put an order through every couple of weeks, so if anyone is interested, let me know!

Peace, love, and a coon dog!

[IdahoCopper]

What is a reasonable premium to pay over spot for a monster box of Amark rounds?