Stupid Newbe Question: Buying, silver, gold, coins with paypal [modified]
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So I thought I'd have a go at collecting some double Eagle silver dollars. Just about 10 coins just to go through the process. Then go and sell them just to get a feel for how things work. So I says to myself, I can buy them with a credit card. Not; many sites don't accept credit card and the few that do charge a high shipping and handling premium for the privilege. I can sort of understand this since you are buying really "hard currency" with the promise of repayment with the credit card (risky). So I thought, surely they would accept PayPal? PayPal is doubly backed up by checking account AND credit card. At the conclusion of an online transaction, they have the cash. Here to, the online precious metal sites don't accept PayPal. I found a site called egold[^], similiar to PayPal, in some respects but all transactions are backed up not in dollars, yuan's or reals, but in hard precious metals, this to facilitate inter country transactions. Again, no support from precious metal sites. At the end of the day I had to strike off a personal check, mail it and wait 10 business days :(( . I'm not sure if these guys are paranoid, or stupid. I hope one of these sites finds out that PayPal integration into their shopping carts makes good business sense. If anyone has found such a site, and has used them and are happy with them, please share. Thanks.
modified on Monday, June 1, 2009 9:08 AM
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So I thought I'd have a go at collecting some double Eagle silver dollars. Just about 10 coins just to go through the process. Then go and sell them just to get a feel for how things work. So I says to myself, I can buy them with a credit card. Not; many sites don't accept credit card and the few that do charge a high shipping and handling premium for the privilege. I can sort of understand this since you are buying really "hard currency" with the promise of repayment with the credit card (risky). So I thought, surely they would accept PayPal? PayPal is doubly backed up by checking account AND credit card. At the conclusion of an online transaction, they have the cash. Here to, the online precious metal sites don't accept PayPal. I found a site called egold[^], similiar to PayPal, in some respects but all transactions are backed up not in dollars, yuan's or reals, but in hard precious metals, this to facilitate inter country transactions. Again, no support from precious metal sites. At the end of the day I had to strike off a personal check, mail it and wait 10 business days :(( . I'm not sure if these guys are paranoid, or stupid. I hope one of these sites finds out that PayPal integration into their shopping carts makes good business sense. If anyone has found such a site, and has used them and are happy with them, please share. Thanks.
modified on Monday, June 1, 2009 9:08 AM
Easiest and best thing to do is see if you can establish an account with one of them. Of course, you have to trust them with financial data before you do that - it's a paranoid time, I guess.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Easiest and best thing to do is see if you can establish an account with one of them. Of course, you have to trust them with financial data before you do that - it's a paranoid time, I guess.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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So I thought I'd have a go at collecting some double Eagle silver dollars. Just about 10 coins just to go through the process. Then go and sell them just to get a feel for how things work. So I says to myself, I can buy them with a credit card. Not; many sites don't accept credit card and the few that do charge a high shipping and handling premium for the privilege. I can sort of understand this since you are buying really "hard currency" with the promise of repayment with the credit card (risky). So I thought, surely they would accept PayPal? PayPal is doubly backed up by checking account AND credit card. At the conclusion of an online transaction, they have the cash. Here to, the online precious metal sites don't accept PayPal. I found a site called egold[^], similiar to PayPal, in some respects but all transactions are backed up not in dollars, yuan's or reals, but in hard precious metals, this to facilitate inter country transactions. Again, no support from precious metal sites. At the end of the day I had to strike off a personal check, mail it and wait 10 business days :(( . I'm not sure if these guys are paranoid, or stupid. I hope one of these sites finds out that PayPal integration into their shopping carts makes good business sense. If anyone has found such a site, and has used them and are happy with them, please share. Thanks.
modified on Monday, June 1, 2009 9:08 AM
I'll second what Jon said about setting up an account. If you aren't looking to actually hold the metal but hedge against the dollar being debased you can try something like goldmoney.com. I've used them as a checking account of sorts since about 2003 and they handle business for me pretty quickly plus their customer support has been dandy when I've had questions.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long Avoid the crowd. Do your own thinking independently. Be the chess player, not the chess piece. --Ralph Charell
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I'll second what Jon said about setting up an account. If you aren't looking to actually hold the metal but hedge against the dollar being debased you can try something like goldmoney.com. I've used them as a checking account of sorts since about 2003 and they handle business for me pretty quickly plus their customer support has been dandy when I've had questions.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long Avoid the crowd. Do your own thinking independently. Be the chess player, not the chess piece. --Ralph Charell
Thanks, appreciate it. I am actually interested in acquiring the actual metal, but will look into goldmoney.com.