Gold Rush & APMEX Cancels My Order

[Rebel Yarr]

Freaking ASSHOLES.

I've ordered at least 5 times from them on this same CC (but I deleted my APMEX account over privacy concerns about 6 months ago) - I put in an order two weeks ago and then they send me e-mail this AM saying they can't validate my CC info (they say 1st time orders go through heavy scrutiny) and I must send check - I call and tell them the story and let them know I can provide whatever is necessary to validate that I and my cc are legit.... no dice - they just want me to send them a check.

I use this CC daily for all my transactions... never ever had any issue with anyone validating the info and shipping....

While I had great experiences with them in the past......I will never use these assholes again after this sh*tty AM experience!

Thanks for letting me rant ;p

[MAGNES]

Are they locking in prices for people that plan on sending a check ?

Last 2 weeks the shorts added 75 million OZ SI.
And more since last Tues that we don't know of.

Don't be rushing to buy now IMO .

[VX1]

Yep, APMEX locks in the price for checks (for a week, I believe).

Look on the bright side, from experience I can tell ya, CC orders really hurt your cost average. I wish I hadn't had been in such a hurry to receive physical a year ago.

[Rebel Yarr]

Actually - I placed the order - locked in price a couple weeks ago....

The gains made in gold and silver in the last two weeks covered the 3% CC charge already....$120 on 4/5k no big deal in this market and I was out of pocket when making the order - CC only option for physical.

Very sh*tty CS experience - they were not upfront on the reasoning and pretty sh*tty about it on the phone....It was unexpected as all of my orders in the past went with no issues - granted I didn't need to engage their CS.

I'm sure it is coincidence - but after my order sits for 2 weeks - then gold pops $30 in the AM - they cancel the order..... kinda like PM's disappearing on price drops.

As for purchase on margin or credit - I did well with in 2008 on margin and cc - at 850/900/1000 I went all in - doesn't look so bad now eh? I even did a few 0% interest cards for a year and made a huge return - never paying a dime of interest to the bankers - only the 3% trans charges.

Not saying we might not experience a dip again - but I think we will break 1350 and maybe higher before any serious retracements - we might not see 1200 ever again with all the printing that has taken place and is in progress....

I'm not recommending margin or CC purchases - just an explaining with example how margin/cc is not always a bad option - for everyone.