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Texas Precious Metals

Rate Texas Precious Metals

  • One Star *

    Votes: 3 27.3%
  • Two Stars **

    Votes: 0 0.0%
  • Three Stars ***

    Votes: 0 0.0%
  • Four Stars ****

    Votes: 3 27.3%
  • Five Stars *****

    Votes: 5 45.5%

  • Total voters
    11

lindalyc

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#1
anyone has Experience with Texas Precious Metals in San Antonio?

It seems to have good price on bullions. comments?

thanks

Scorpio edit to add to first post on the thread:

Please post your comments regarding TPM here in this thread. This thread and another have been merged together to localize the commentary into one.

You may rate the dealer to your satisfaction level in the course of your business.

Please understand that this is a informational content thread for the sole purpose of passing information and experiences regarding a specific PM dealer to other members.

GIM does not endorse or disapprove of any member in this list of threads. GIM2 is not responsible for any disputes, resolutions, or comments made by the members.

A member may reply to the thread and post comments accordingly.

No new threads will be added except by the moderators.

You may also rate the dealer using the vote button, and the votes will be public, 1-5 stars, one being the lowest, and 5 being the highest rating.
 
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4realmoney

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#2
Re: anyone has Experience with Texas Precious Metals in San Antonio?

Good company, good prices, nice experience. Did they do what they said they would do? Yes. And that is how I rate bullion dealers. They state on their site that all the bullion they sell is in stock, which is unique from my experience buying coins. If they don't have it, they won't sell it. I bought some gold from them and they shipped UPS overnight. I had the gold within two days of sending the wire. I would definitely use them again. They're prices are competitive with Tulving (cheaper even on monster box Maples) but they have no minimums. They also offer limit orders, but I can't really comment on that because I've never used that service. If anyone on here has, I would be interested in hearing how that went. https://www.texmetals.com/limit-orders

NOTE: They are actually about an hour and half away from San Antonio, and I don't think they have a store front. They operate like APMEX and Gainesville from my experience, doing most of their business online.
 

Kkernell

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Re: anyone has Experience with Texas Precious Metals in San Antonio?

I was very pleased with the way this company conducts business. I had no problems at all. They were prompt on the delivery and fair on price. I would not hesitate to use them again. In fact I plan on it.
 

REO 54

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#4
Re: anyone has Experience with Texas Precious Metals in San Antonio?

It seems to have good price on bullions. comments?

thanks
Welcome aboard lindalyc! :D.

No I have'nt but I'll check'em out.Thanks
 

R.Simpson

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Re: anyone has Experience with Texas Precious Metals in San Antonio?

TPM.PNG

I found these guys on a website called - www.goldshark.com

Goldshark allows you to hunt down the cheapest prices (real time) between all the top online dealers! :cheerful:

Always pays to shop around! Cheers.
 

McMike

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#6
Re: anyone has Experience with Texas Precious Metals in San Antonio?

Thought I would share my experiences with Texas Precious Metals. I am still looking for other companies similar to Gainesville coins as they tend to have some interesting bullion that Texas Precious Metals does not.

I have ordered from Texas Precious metals on 3 different occasions totaling a nice chunk of money.

Here are my pros and cons

Pros:
  • If you plan on purchasing over $6k, shipping is free (USPS Express Mail is what they use)
  • Prices are very competitive, sometimes lower than Gainesville Coins
  • Very professional, can easily call them and ask them as many questions as you want. They also respond to emails pretty quick as well
  • One order was messed up by the USPS, Texas Precious Metals gave me 1 free Buffalo silver round because of the shipping mix up even though it was not their fault


Cons:
  • The free shipping can take up to a week sometimes a little longer as they use Insured Registered Mail. Always sucks to wait that long
  • When checking out to pay, the price is not locked in until you enter your credit card info, ship to info and verify your order. Well as you are entering this info, you would think your spot is locked in but it’s not! It only locks in once you hit “confirm order” but that can take about 5 minutes to enter that info and as you know… The price can fluctuate enough to be a little bit of a surprise when you hit confirm, especially when you order at least $6k or more for the free shipping.
  • Some of the Canadian Silver Cougars have milk spots. Now I know this is the Canadian Mints fault and I am not blaming Texas metals for it BUT I am a bit disappointed that a small half tube they filled (since my order was for 40 and the Canadian tubes hold 25) had heavily milk spotted coins BUT the actual 25 coin tubes did not have any Cougars with milk spots. With how large the order was ($15k for that particular order) I would have expected them to make sure I got clean Cougars. Again, not sure if this is their fault, just suspicious is all. I never questioned them.
  • This can be a Pro or Con depending how busy they are. Normally they ship within 24 hours of the wire hitting but when Silver hit $26 and I placed an order for SAE, it took them 3 days to ship it.

Well that is my experience with them. Let me know if you have any questions. I am waiting for my third order I placed with them which should arrive tomorrow. Just an FYI, I also buy from my LCS as well as a few other online bullion dealers.
 
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REO 54

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Re: anyone has Experience with Texas Precious Metals in San Antonio?

Welcome aboard McMike :thumbs_up:

Thank you for your observation and post about it.
 

McMike

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#8
Re: anyone has Experience with Texas Precious Metals in San Antonio?

Thanks. Came across this board and really like it so far. Lots of good info

Michael
 

SongSungAU

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#9
Re: anyone has Experience with Texas Precious Metals in San Antonio?

You may want to verify the prices goldshark.com quotes you for the various vendors. The quotes they provided on my search were not accurate (they quoted higher prices for some vendors).

Texas Precious Metals is in San Antonio and the server IP address for goldshark.com is also San Antonio. Perhaps just a coincidence. Perhaps it's also just a coincidence that Texas Precious Metals was at the top of the search results goldshark.com provided. Lots of coincidences? Maybe, maybe not.


I don't trust sites that pull in data from websites. You don't know how recent the data is and whether or not the site has a bias for certain merchants. I prefer to go to each vendor's website myself and check the prices. Perhaps I am just paranoid.
 

Kkernell

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Re: anyone has Experience with Texas Precious Metals in San Antonio?

The folks at Texas Precious Metals are great to do business with. I have been using them more lately and have no problems at all. I would not hesitate to use them.
 

McMike

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#11
Re: anyone has Experience with Texas Precious Metals in San Antonio?

Update to my most recent order from Texas Precious Metals.

Ordering online can be frustrating, especially when you cannot see what condition the item is in before you purchase it.

I received my 106 2012 Silver American Eagles A few days ago. I start opening up the tubes and notice a large amount of the 2012 SAE I received have either milk spots (or silver oxidation) and some were heavily scratched. This is to be expected from the Canadian mint and I do expect a few of the SAE to possibly have milk spots/oxidation but when the SAE order has almost 50% of them with issues, it’s time to make the reseller aware of my disappointment.

I reached out to Texas Precious Metals and explained everything, even going as far as sending them pictures. They responded back that these came straight from the mint and they were surprised that so many of the SAE's had issues. They were very concerned about my disappointment and sent FedEx out to pick up the SAE's that I had issues with. So far (I have not received the replacements yet) I am very happy with their customer service.

Please keep in mind that I understand these are bullion coins and I am not expecting "Grade" quality coins from them (or the mint) but when the SAE's carry a premium like they do, I expect them to be clean and easy to resell later. By the way, the free buffalo silver round for my previous shipping debacle with the USPS was not in the box. They said they reviewed footage of the order fulfillment person putting it in there but I could not find it anywhere. They trust that I cannot find it and said they will send me another one.

I will update this thread when I receive the new replacements. Like I said, so far the customer service has been great.

Let me know if you want me to post pictures of the damaged SAE's.
 

McMike

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#12
Re: anyone has Experience with Texas Precious Metals in San Antonio?

Update on the 2012 60 ASE that had heavy oxidation.

Texas Precious Metals replaced all 60 with brand new 2012 ASE with NO oxidation. They also included the buffalo silver round for the previous shipping debacle that I could not find in the previous order. Return shipping to me was a little slow but they did take care of me by replacing the 60 ASE.

Overall here is my rating:

  • Will I do business with them again?: Yes
  • Would I recommend them to friends?: Yes
  • Do they take care of their customers if they have an issue?: For now, yes since they took care of me. We will need to see what other people say if they run into issues.
  • Shipping: Free over $6k but slow because its USPS.
  • Prices: Very good if you purchase $6k or more to take advantage of the free shipping.
  • Order processing: I have only wire transferred so I cannot comment on check or credit card but once the wire clears they ship within days.
 

plata_oro

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#13
Anybody ever purchase from them. I know I have and will share my opinion if you share yours.
 
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WhyKnow

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#15
I have not. I am a little skeptical of all the references to them by new members or members with few posts. Anyone else notice this?
 

Eat Beef

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Isn't this Jennifer (?) who used to be a member here 6 or so years ago?
 

newmisty

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Yeah, some guy with low post count keeps pushing them as "his dealer". That alone sketched me out.
 

plata_oro

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plata_oro

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Re: anyone has Experience with Texas Precious Metals in San Antonio?

[*]If you plan on purchasing over $6k, shipping is free (USPS Express Mail is what they use)


Cons:
  • The free shipping can take up to a week sometimes a little longer as they use Insured Registered Mail. Always sucks to wait that long


  • Completely disagree. I personally purchased roughly a month ago and they shipped my package UPS ground. USPS registered is way more secure and would have rather them ship it that way. The package I received could have been packed a little better but I did get what I ordered within a week. Shipping was free but I had to pay for the bank wire.
 

plata_oro

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Re: anyone has Experience with Texas Precious Metals in San Antonio?

When they ship UPS, how do they insure your package? It is contrary to UPS tariff to ship PM and I don't think you would be successful with a loss claim.

http://www.ups.com/media/en/terms_service_us.pdf
I knew I read somewhere that UPS will not insure losses for bullion/coins. Its clear as day in section 3.1! TPM can say all they want about insuring the package but if the carrier won't insure a loss does that leave the customer high and dry?:afraid: I don't think I'll find out the hard way and just buy somewhere else!
 
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#23
Re: anyone has Experience with Texas Precious Metals in San Antonio?

I knew I read somewhere that UPS will not insure losses for bullion/coins. Its clear as day in section 3.1! TPM can say all they want about insuring the package but if the carrier won't insure a loss does that leave the customer high and dry?:afraid: I don't think I'll find out the hard way and just buy somewhere else!
I didn't mean to imply there was a problem here, it is more a question, what does TPM do about insurance since UPS is unlikely to reimburse losses for PM sent contrary to the tariff statement. They are a company with a long history in Shiner, Tx, but the PM biz is kind of new to them. Tulving.com has their own insurance policy stated on his website confirming that PM are insured against loss through Lloyds. That insurance policy may insure Tulving, but it's not clear it insures me.

http://www.tulving.com/New%20Pages/quote_from_insurance_carrier.htm

Other dealers may have similar insurance that would protect against loss for shippment through UPS or others. Without this insurance, it would not be safe to buy metals shipped via UPS because the insurance is not collectable. The statement, your purchase is insured, doesn't carry much validity if the insurance isn't collectable in the event of a loss.

USPS will insure registered PM against loss up to $25,000. This is less than the minimum purchase of a full mint tube of 20AGE through some dealers, currently valued at around $34,000. With MF Global expropriating 1.5B$ of customer funds, the solvency and reputation of any PM dealer is critical for all deals that aren't cash and carry. Otherwise, US Mint proof with a $200 premium ($20 premium on silver) seems the safest counter-party risk for mail order purchases.

I have heard of folks losing an oz gold coin to mail theft 20 years ago, with the envelope slit open. I haven't read anywhere of someone losing PM lately in shipping and later collecting on a loss claim. Just because it's rare doesn't mean it's safe when it's your money. Does anyone have personal experiences with this?
 

crypse

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#24
Re: anyone has Experience with Texas Precious Metals in San Antonio?

Is anyone gonna say what I'm thinking?
 

texmetals

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#25
Re: anyone has Experience with Texas Precious Metals in San Antonio?

Hi to everyone here on the forum:

I work here at Texas Precious Metals, and I thought it might be helpful to chime in on insurance related to bullion packages. At one point in our history, we shipped 80-90% of our packages via USPS Registered Mail. We moved away from insuring packages this way because a) USPS has been having serious internal issues with employee theft, and b) the USPS claims department can take as long as 8-12 months to fulfill claims (if at all). From the standpoint of business risk, we considered this level of "insurance" to be ineffectual and non-sustainable. The other downside to registered mail is that tracking information does not record location of the package in transit, and the slow speed (3-10 business days) would often result in complaints from clients who feared that their package was lost.

While it is true that FedEx and UPS do not insure bullion through their normal protocol, the bigger bullion companies, like TexMetals, use external underwriters to insure these packages. It would be reckless (and criminal) not to. These underwriting companies (like Lloyd's, Dutch Marine, G4SI) pay claims within 7-10 days, and the difference for our business flow is palpable. We use two main underwriters, and we insure packages differently based on product type, quantity, and shipping method. It is impossible to avoid stolen packages in our industry; protecting against those losses is as fundamental to the success of our company as hedging against price movement. Remember, the package is our liability until a client signs for it. We are forced to ship replacement product in many cases before receiving remuneration from the underwriters.

Additionally, the tracking and package speed is far superior to Registered, so that is an added bonus and helps reduce customer influx of logistics-related questions. I hope this helps everyone here who has questions about insurance.

All the best,
Andrew
 

vichris

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#26
Re: anyone has Experience with Texas Precious Metals in San Antonio?

I've purchased from them and will not hesitate to purchase from them in the future. Their prices are hard to beat.

If I had a complaint it would be that they have a limited selection compared to most other dealers. If they had a better selection I would purchase more frequently from them. Sometimes I just cannot find what I'm looking for from them.
 

vichris

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I've purchased from them and will not hesitate to purchase from them in the future. Their prices are hard to beat.

If I had a complaint it would be that they have a limited selection compared to most other dealers. If they had a better selection I would purchase more frequently from them. Sometimes I just cannot find what I'm looking for from them.
 

southfork

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vichris

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#29
Guys and gals if Ive said it once Ive said it a hundred times, find dealers in your area, go to coin shows, even a 2 hour drive is worth it, foster a relationship with local dealers you will save tones, heres 3 good search engines for US coin shows.
Drive a little save a lot.

http://www.coininfo.com/coin_shows/terms/florida
http://www.coinshows.com/
http://www.numismaster.com/ta/inside_numis.jsp?page=CoinShowsCalendar
Sorry....I appreciate the advice and its probably good advice for the masses but not for me, or for many where I live. According to your links the most "local" show around here is an 8 hour drive in Scottsdale AZ. We do have local dealers around here but even they advise buying online for medium to large volume purchases. I do have a relationship and have purchased from a local dealer but he WILL NOT save me tonnes.
 

plata_oro

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Sorry....I appreciate the advice and its probably good advice for the masses but not for me, or for many where I live. According to your links the most "local" show around here is an 8 hour drive in Scottsdale AZ. We do have local dealers around here but even they advise buying online for medium to large volume purchases. I do have a relationship and have purchased from a local dealer but he WILL NOT save me tonnes.
Yeah, and my locals charge me sales tax which can range from 8-9% depending what county I am in. So my $30 generic becomes $32.50. I get what I like online too. For example my LCS does not have a Freedom Girl round, only available online.
 

plata_oro

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#31
I've purchased from them and will not hesitate to purchase from them in the future. Their prices are hard to beat.

If I had a complaint it would be that they have a limited selection compared to most other dealers. If they had a better selection I would purchase more frequently from them. Sometimes I just cannot find what I'm looking for from them.
They do ship quicker than any in the industry I've dealt with, but like you mention limited selection and the cost of the bank wire nullifies any savings IMO. I will post again when I get my shipment from Provident to compare the two.....
 

Varmint Hunter

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#32
They are a good online store with competitive prices.

My only beef with them is their policy of not accepting personal checks over 2k.
 

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They do ship quicker than any in the industry I've dealt with, but like you mention limited selection and the cost of the bank wire nullifies any savings IMO. I will post again when I get my shipment from Provident to compare the two.....
Yes the cost of the bank wire makes a huge difference. Most banks charge $25-$35 and even up to $50. My credit union charges $10. I keep trying to tell them both to move to a CU.
 

plata_oro

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#34
Anyone out there ever purchase those Texas silver rounds? They claim to be .9999 pure and the price on a mini monster box looks somewhat attractive. Both Provident and TPM are offering free shipping for orders over $5,000. However Provident's 1 oz rounds are way cheaper but the purity is only 99.9%. But I really just curious about the Texas .9999 rounds, anybody own them?
 

savvydon

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#35
Anyone out there ever purchase those Texas silver rounds? They claim to be .9999 pure and the price on a mini monster box looks somewhat attractive. Both Provident and TPM are offering free shipping for orders over $5,000. However Provident's 1 oz rounds are way cheaper but the purity is only 99.9%. But I really just curious about the Texas .9999 rounds, anybody own them?
TPM sells em in those nifty metal cases which gives me a bit of a chubby. As for the .999 vs .9999, I wouldn't get that excited. .9999 - .999 = .0009 x 250oz = .225 potential extra ounces of silver per mini monster box. That is less than $5 of silver I would concentrate on other more important aspects of the transaction. FWIW I have had good experiences with both dealers but gotten my metal particularly quickly from TPM.
 

Ahillock

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#36
Anyone out there ever purchase those Texas silver rounds? They claim to be .9999 pure and the price on a mini monster box looks somewhat attractive. Both Provident and TPM are offering free shipping for orders over $5,000. However Provident's 1 oz rounds are way cheaper but the purity is only 99.9%. But I really just curious about the Texas .9999 rounds, anybody own them?
I personally really like TPM if they have something you want on a good deal, go for it. 5th generation family owned and run. Don't sell stuff they don't have in stock (like APMEX). Once my funds have cleared, they have always shipped the package overnight. Great customer service as well. I would recommend them.

The Texas rounds are nice in person. I like them better than a silver Buffalo round personally. Doesn't feel cheap and the quality is nice IMO. If the price is competitive compared to other rounds you are considering, go for it.
 

Eat Beef

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#37
TPM sells em in those nifty metal cases which gives me a bit of a chubby. As for the .999 vs .9999, I wouldn't get that excited. .9999 - .999 = .0009 x 250oz = .225 potential extra ounces of silver per mini monster box. That is less than $5 of silver I would concentrate on other more important aspects of the transaction. FWIW I have had good experiences with both dealers but gotten my metal particularly quickly from TPM.


Wait, what?


The rounds are 1 troy ounce either way, the .9999 just have a shade less alloy than the .999.
 

savvydon

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#38
Wait, what?


The rounds are 1 troy ounce either way, the .9999 just have a shade less alloy than the .999.
Ok, so if I understand you correctly they each have exactly 1 troy ounce of silver and then on top of that the one is mixed with one part to 1000 alloy while the other is mixed with one part to 10000 alloy? If this is the case then the purer rounds will have a slightly lighter gross weight. Am I understanding this correctly?
 

LT2014

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#39
Dealing with Texas Precious Metals.....

Three recent transactions. All in six figures.
Locked price at order. I then wired funds within 1 day.
Simple procedure. Very courteous peronnel.
Four days after order, my purchase arrived UPS.
I could not be more pleased with this company.

I understand that if they do not have it in stock, they will not sell it to you.

I am a former major customer of Tulving and Co.and by the grace of God escaped his collapse.

I hope Texas Precious Metals continues to be a company of great integrity.

I am a new member here but I have delt in precious metals since 1972. Please be careful. Tulving has taught us all a lesson. I guess there are no real guarantees unless we deal face to face but so far Texas Precious Metals has been right on. I thank them for that.
 

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#40
TPM is great to deal with. Especially if their price is competitive. I believe they are either 3rd or 4th generation owned and operated.