Q. How does a client place an order with Wexford Capital
Management and make payment?
Answer: It is best that all orders are placed by
telephone using our toll-free number, 877-855-9760 OR by
completing and sending the Bullion Purchase Request Form.
BEFORE WCM will "lock" the price per item(s)
with its distributors, clients will have previously sent us an email
or the Request Form with
their full name, telephone number, and a shipping address where delivery can be
signed for using USPS Registered Mail, UPS, or FedEx. The locked
prices are sent via email to confirm the order, and then a WCM
Invoice is sent as an attachment via return email in MS Word or
Adobe PDF format.
Payments by Bank Wire are the sole means of payment
shortening "time-to-shipment" by 7 to 10 days.
Paper payments in any form are no longer accepted by WCM.
Wire instructions are contained on the second page of the WCM
Invoice which is in Adobe pdf format. Our
mark-ups over wholesale are too low to permit credit card fees
and fraud is too prevalent in this payment method.
are bullion product prices "locked in" or set during the
Answer: When a confirmed order with specific quantities per
bullion item is committed to by the client, preferably by
telephone so that all questions that the client may have are
answered at that time. The client is given a "quoted
price" per item prior to order placement, but precious
metals' prices change minute by minute, and the "locked
prices" are based upon the current spot the minute that WCM
places the respective order with its distributor(s).
Q. Will I be kept apprised of my order's status during the
Answer: Clients are notified via email (or telephone
if you do not have access to email):
1.) when we receive your payment via wire transfer
2.) when an
estimated ship date is established
3.) when your order ships, giving you appropriate tracking
Feel free to contact WCM at any time at email@example.com
or 877-855-9760 before, during, or after the order process.
We are here to serve.
Q. Does the fineness or purity of the gold as measured in
percent or karats contained in the gold bullion coins that WCM
sells affect the amount of pure, 24 karat gold within each type of
Answer: NO. Each sovereign mint has adjusted the total
weight of their respective gold bullion coins such that upon
subsequent smelting, an investor would have exactly One Troy Ounce
of Pure, 100%, 24 karat Gold. Copper is the alloy added to
increase the hardness of the minted coin.
Q. Does the Year of Mintage have any bearing on the current
or future value of a particular bullion coin, of either gold or
Answer: NO. Except for Current Year Issues, say
today, there should be no premium paid or obtained for any
particular gold or silver bullion coin based on Year of
Mintage. Some dealers will promote the scarcity or purported
numismatic values of specific dates of bullion coins, but these
coins have been minted in the tens of thousands and millions and
can hardly be considered scarce. Promotions or practices of this type just cause investors to overpay for
Q. Why do
many Silver bullion products sell at a higher premium over melt
Answer: There is over 60 times as much weight per
dollar of market value for silver, so the amount of energy
expended in refining and minting plus the costs of handling and
shipping of silver bullion products are higher per unit of
value. Thus, refiners, mints, distributors, and dealers
price silver products to recoup these additional costs.
Q. Are volume discounts available for large purchase
Answer: Yes, for orders over $250,000, WCM
and its distributors will work with the client to provide a
mutually acceptable pricing level. Furthermore, normal
quantity discounts are posted on the main bullion web page showing
what pricing discounts are available for specific quantity levels
of a product or specific precious metal. Always check with WCM
before placing a large order with any of our competitors. We
can obtain product directly from primary distributors and
nationally recognized refineries, and we have one of the
most competitive pricing structures in the industry.
are the consequences if a client fails to honor his or her
commitment to make full and timely payment on a bullion purchase
from WCM or deliver product as stated, in marketable condition, on
a bullion sale to WCM?
Answer: When clients renege on their commitments with
WCM, the bullion broker has to neutralize the position(s) with the
respective distributor who, in turn, has taken a hedged position
in the futures market the moment WCM places a trade with
them. There is no free lunch in this process, and WCM must
make payment to the distributor for the difference in spot prices
on the quantities traded as well as a normal spread between the
bid and the ask price for each bullion product involved. On
a single trade this can run into hundreds of dollars for the
bullion broker, and it is WCM's policy to pursue legal recourse
against clients who breach the WCM Terms of Sale or Purchase which
are legally binding contracts between the two parties under the
Uniform Commercial Code of the United States.
are orders shipped?
Answer: GOLD bullion product shipments are normally sent
United States Postal Service (USPS) Registered Mail,
Insured or Federal Express Ground (FedEx), Insured. SILVER bullion product shipments are normally sent
either USPS Registered Mail/ Flat Rate Box, Insured or
United Parcel Service (UPS), Insured; a street address is required
for UPS and FedEx shipments. WCM will notify you via email
when your order has shipped and provide a tracking number.
Q. How should I handle my bullion coins when I take them out
of their shipping containers for viewing?
Answer: All Gold and Silver Bullion Coins from WCM are in
Brilliant Uncirculated Condition (BU), except for Junk Silver
coins which are in Well-Circulated Condition. These are not
rare or numismatic coins although they are undoubtedly beautiful
in their design and presentation; bullion coins are bound to have
some marks from handling on their way from the respective Mint or
refinery. These marks do not reduce a bullion coin's
value. The precious metal content has not been affected by
them because they are usually dinks into the coin's surface
without any removal of metal. Just handle any beautiful or
valuable coin by the rim and don't eat French Fries while doing
Q. What is the process for selling bullion products to WCM?
Answer: Just contact WCM by telephone or email to discuss the
items offered for sale ($10,000 minimum applies).
WCM will only lock
a Bid Price(s) with one of its distributors upon confirmation that
the client has shipped the material to the designated WCM
distributor, never to WCM in VA; a faxed or scanned copy of
the USPS Registered Mail receipt is acceptable. Clients
will have been provided the
shipping address to the appropriate WCM distributor beforehand so that they
may deliver the specific bullion products as specified in the
WCM Purchase Order and in good condition; once the shipment is
accepted at its destination, WCM will issue a check to client within 7 business days.
Wire payments require a $25 fee.
Q. How long has Wexford Capital Management been in business,
and what references do you have?
Answer: WCM has been in business for over 20 years and
its principal, David W. Young, was
a Registered Investment Advisory for 20 years from October, 1985
to May, 2005. WCM is a
member in good standing of the Washington Area Better Business
Bureau and has never had a complaint filed against it through the
S.E.C., the Federal Trade Commission, or the State of Virginia. Please see the Bullion
for more information.