APMEX

Discussion of the Gold portion of the Permanent Portfolio

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welderwannabe
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APMEX

Post by welderwannabe » Tue Dec 05, 2023 2:04 pm

We all know APMEX's premiums have been out of sight last few years. I have gotten them to price match Gold, but when they do I have discovered their spot price is often $10-$15 higher than competitors.

For example, right now APMEX spot price is showing $2033.60. Monument metals is $2022.00, and Kitco is 2020.40.

What gives? Are they scamming us? Choosing to use a different market to quote spot on to pad their bottom line?

I'd like to continue doing business with them, but they're making it hard. Whats everyone else doing?
snedgar
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Re: APMEX

Post by snedgar » Tue Dec 05, 2023 2:53 pm

I have had 100% positive experience using California Numismatic Investments (aka golddealer.com) for many years / transactions.
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Xan
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Re: APMEX

Post by Xan » Tue Dec 05, 2023 3:11 pm

Sounds like the thing to do is buy from other dealers and sell to APMEX!
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pmbug
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Re: APMEX

Post by pmbug » Tue Dec 05, 2023 3:16 pm

welderwannabe wrote:
Tue Dec 05, 2023 2:04 pm
...
For example, right now APMEX spot price is showing $2033.60. Monument metals is $2022.00, and Kitco is 2020.40.
...
$2,032.60 USD ... Ask: $2,032.60 USD Bid: $2,022.60 USD
https://www.apmex.com/gold-price

Looks like Apmex is quoting the Ask price and Monument/Kitco are quoting the Bid price. There is a ~$10 spread at the moment.
The journey of a thousand miles begins with a single step. -Lao Tzu
welderwannabe
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Re: APMEX

Post by welderwannabe » Tue Dec 05, 2023 4:00 pm

pmbug wrote:
Tue Dec 05, 2023 3:16 pm

Looks like Apmex is quoting the Ask price and Monument/Kitco are quoting the Bid price. There is a ~$10 spread at the moment.
Whenever I check kitco there is $1 diff between bid/ask spread. I just checked now, bid 2018.8, ask 2019.8.
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pmbug
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Re: APMEX

Post by pmbug » Tue Dec 05, 2023 4:22 pm

I'm not positive, but it looks like Apmex might be quoting the Comex GC contract prices instead of the spot price.

GC contracts:

https://finviz.com/futures_charts.ashx?t=GC&p=d

Spot:

https://www.kitco.com/charts/livegold.html
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pmbug
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Re: APMEX

Post by pmbug » Thu Dec 14, 2023 10:42 am

FYI - Apmex has a good deal on 1 gram gold bars right now - at "spot" (or at least what Ampex says is spot):

https://www.apmex.com/product/287791/1- ... =pmbug.com

Even though Apmex is quoting a spot higher than what most people expect, without any premium added, this is still a good deal.
The journey of a thousand miles begins with a single step. -Lao Tzu
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Re: APMEX

Post by ppnewbie » Mon Jan 01, 2024 4:06 am

pmbug wrote:
Thu Dec 14, 2023 10:42 am
FYI - Apmex has a good deal on 1 gram gold bars right now - at "spot" (or at least what Ampex says is spot):

https://www.apmex.com/product/287791/1- ... =pmbug.com

Even though Apmex is quoting a spot higher than what most people expect, without any premium added, this is still a good deal.
Saw this today. Was too late. I tried to buy 60.
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pmbug
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Re: APMEX

Post by pmbug » Mon Jan 01, 2024 6:57 am

I checked just now and it looks like the deal is still live. I'm able to add 60 to my cart.
The journey of a thousand miles begins with a single step. -Lao Tzu
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Re: APMEX

Post by ppnewbie » Mon Jan 01, 2024 9:45 pm

pmbug wrote:
Mon Jan 01, 2024 6:57 am
I checked just now and it looks like the deal is still live. I'm able to add 60 to my cart.
Are you logged in?
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Re: APMEX

Post by ppnewbie » Mon Jan 01, 2024 9:57 pm

ppnewbie wrote:
Mon Jan 01, 2024 9:45 pm
pmbug wrote:
Mon Jan 01, 2024 6:57 am
I checked just now and it looks like the deal is still live. I'm able to add 60 to my cart.
Are you logged in?
Going to try. I also see this at the bottom.
---
Product Details
Any quantity only $0.00 per bar over spot

New Customer Offer!
1 gram Gold Bar AT SPOT!

Limit 1 per customer. <---
Available only for new APP customers. <---
---
Lets me load it into a car but wont let me proceed to checkout. Also I added something else to my cart and it let me "proceed to checkout". I'll call them tomorrow to see if I can buy.
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pmbug
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Re: APMEX

Post by pmbug » Tue Jan 02, 2024 7:41 am

ppnewbie wrote:
Mon Jan 01, 2024 9:45 pm
... Are you logged in?
Sorry, no, I was not logged in when I tested.
The journey of a thousand miles begins with a single step. -Lao Tzu
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