Goldworth.com?

[rsk1963]

Was looking around for different places to purchase some PM's and came across Goldworth? Was wondering If anyone's done business with these guys cause they're prices look almost too good to be true.

Anyone please lmk.

[merchoarder]

Never done business with them or even heard of them but I checked out their site. Prices don't look so great to me... Well, some pretty good, $1.12 over spot on SAE pretty good, but $40+ for morgans and peace??
Interesting, SAE's $1.12 over spot, Maples $1.44 over spot, Libertads $3.14 over spot from a Cali based company?
$1.99 over spot on 10 and 100 oz bars. Their prices do seem pretty legit on some stuff.

[inflationhawk]

Seems like I've heard them advertise on XM radio (CNBC), but I never looked them up. They seemed like a pretty hard core marketing shop, but I could be wrong.

[Engineer]

They don't seem to have a buy program, which opens up the question of where they get their coins.

[inflationhawk]

Here's the rub, while they're prices might seem good, you have 2 options; pay them a delivery fee to take physical possession or pay them a storage fee for them to act as a custodian.

From their website:

Delivery fees are; $32 flat fee for all coins, gold bullion and platinum bullion. Silver bullion bars & coins may require a higher fee due to weight. An exception is made for 90% silver and 40% silver $1,000 face value bags, for which we charge a flat fee of $50. All delivery charges include full insurance which cover current market price.

Storage & Insurance fees are: 50 basis points of your holdings per year. For example, if your Gold holdings have a market value of $10,000 throughout the year, your storage charges would be $50 for the year.

[JadeDragon]

Maybe they have unlimited amounts of gold and silver to sell you as long as you pay them to store it.

[rexmerdinus]

So do I, and I'll send you a certificate saying so! If you're interested, let me know and I'll tell you where to send my--er, YOUR money!

[Bluegill]

Maybe they have unlimited amounts of gold and silver to sell you as long as you pay them to store it.

That could be a sweet gig. Should everybody suddenly want to take possession, just settle with FRN's. All the while keeping the storage fees.

[creshka46]

Maybe they have unlimited amounts of gold and silver to sell you as long as you pay them to store it.

[rsk1963]

Here's the rub, while they're prices might seem good, you have 2 options; pay them a delivery fee to take physical possession or pay them a storage fee for them to act as a custodian.

From their website:

Delivery fees are; $32 flat fee for all coins, gold bullion and platinum bullion. Silver bullion bars & coins may require a higher fee due to weight. An exception is made for 90% silver and 40% silver $1,000 face value bags, for which we charge a flat fee of $50. All delivery charges include full insurance which cover current market price.

Storage & Insurance fees are: 50 basis points of your holdings per year. For example, if your Gold holdings have a market value of $10,000 throughout the year, your storage charges would be $50 for the year.

I know, I have an inquiry out to see how much shipping is (they have an additional caveat, shipping silver can be higher/subject to change) obviously I want the del option. But I didnt know if anyone has done business with them previously.

Maybe they have unlimited amounts of gold and silver to sell you as long as you pay them to store it.

sounds like comex...

[SilverEye]

That is an awesome price for Silver Eagles, but that shipping cost is pretty high. You'd really have to make a good size buy to make it worthwhile.

[inflationhawk]

That is an awesome price for Silver Eagles, but that shipping cost is pretty high. You'd really have to make a good size buy to make it worthwhile.

And thats where they get you with the "Silver bullion bars & coins may require a higher fee due to weight.". They might as well say: Silver bullion bars & coins may require a higher fee to insure we make a profit.

[mbailey1234]

They get 6.5% commission and from what I gather they base it off of the comex price but I'm not sure. I just got a quote on 20 and on 500 ASE's and they are $2.92 over spot or $33.52 and shipping costs a flat $39.00.

Not sure where the $1.12 over came from but I assume the market they use wasn't open yet and they were basing that price off of Friday's close???

Doesn't seem too be much of a deal there in my opinion. Never hurt's to check though!

Best price I have found today is here:
http://www.gainesvillecoins.com/product ... coins.aspx

[beauanderos]

They need to price aggressively to be competitive with more established players in this market. But if they undercut too much, they can't make a profit. They may have a few loss leaders to attract buyers, but whether their loyalty would be insured after an initial purchase or two might be problematic. Look how much WE price shop. Would anyone else be different? And as far as it goes for selling certificates representing your unallocated gold and silver... why do you think Morgan Stanley was fined for charging storage fees when there was no precious metals even being vaulted? You have to realize that most banks do the same, there is only a small fraction of gold ostensibly representing the stores bought and paid for, should anyone try to obtain a redemption (in physical metals) they will attempt to thwart you with endless obstacles. Cash settlement? No problems.

[PennysaverCP]

Provident metals has a special on 1 0z Silver Maple leafs today at 1.75 over spot. I picked some up on todays dip.

[SilverEye]

It does say $2.92 over spot right now, but I swear I saw it say $1.12 when I looked yesterday.

[inflationhawk]

Yes, and at one point I can vouch that it was a 1.99 over spot when I looked last night. Screwy pricing to move it all around like that.

[Engineer]

It was barely over a dollar when I first looked at it.