Low Premiums over Gold and Silver Spot Prices


Gold Bullion Coins and Bars at 1.3% over Cost and Silver at 1.7% over Cost

 

 

Frequently Asked Questions


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 to WCM, 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.  

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Q.  When are bullion product prices "locked in" or set during the ordering process?

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).

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Q.  Will I be kept apprised of my order's status during the order process?

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 numbers.

Feel free to contact WCM at any time at deals@goldsilverbullion.com or 877-855-9760 before, during, or after the order process.  We are here to serve.

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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 coin?

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.

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Q.  Does the Year of Mintage have any bearing on the current or future value of a particular bullion coin, of either gold or silver composition?

Answer:  NO.  Except for Current Year Issues, say 2009 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 bullion coins.

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Q.  Why do many Silver bullion products sell at a higher premium over melt than gold?

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.

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Q.  Are volume discounts available for large purchase volumes?

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.
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Q.  What 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.
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Q.  How 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. 
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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 so.
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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.
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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 Page link: 
About WCM for more information.


 




Better Business Bureau Reliability Program Online for Wexford Capital Mgmt.




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