Two more PM sites accept e-checks

[KenJackson]

Both JM Bullion (http://www.jmbullion.com/) and Silver.com (http://www.silver.com/) recently sent me email saying they will now accept e-checks for payment. (Neither website mentions it, so maybe they just got approval and haven't set it up yet.)

E-checks are convenient because you enter your information and they process it like a check without you having to write a check and mail it in.

They join Provident Metals (http://www.providentmetals.com/) and the Gold Bureau (https://invest.usgoldbureau.com/), which already accept them.

[madfranks]

Nice to know, but I still prefer my brick and mortar dealer.

[Neuro]

Probably makes it easier for authorities to keep track of your dealings...

[KenJackson]

Probably makes it easier for authorities to keep track of your dealings...
Once a paper check is scanned, it's in the system just like an e-check. I doubt there is any difference in processing after scanning.

It sounds like you may be fearing the possibility that Obama will follow his hero's lead and outlaw private ownership of gold bullion. The probability of that happening is low, but I do take precautions against it anyway.

I think dealers have to report cash or check purchases over $10,000, so it's wise to avoid that.
And I have two other safety precautions:
Never buy $1000 or more in one order, and
Spread out purchases between multiple vendors.
If the feds go to gold dealers and ask for their records on who bought gold, won't they focus on big purchases first? By the time they get down to less than $1000, the law of diminishing returns should be working squarely in our favor.

Also, I don't like to have so much money tied up in one parcel, even though it's insured, or more than one outstanding order with any company. So my rules add safety on that front.

There's an odd quirk in Maryland tax law that adds a reason why I don't buy locally. If you purchase less than $1000 in PMs in MD, you pay sales tax. So I would have to violate my own safety policy to buy locally without wasting money on tax. Plus I'd have to spend gas money driving to one of the few places that sell.

[Goldex]

PayPal has had the option of e-check for some time.

[Neuro]

PayPal has had the option of e-check for some time.
Spambotting much?