How do you ship gold coins?
For most transactions, we prefer Registered, Insured U.S. Mail. We handle millions of dollars worth of gold every year with Registered Mail, and not once has a package failed to arrive intact and undamaged. Better than 99% of all shipments arrive within 3 working days, and each package is insured for its full value. Registered Mail can be insured for up to $25,000 per package, and we hold private insurance for packages of higher value. Private armored carriers such as Brinks or Loomis Fargo are often more practical on shipments valued at $300,000 or more. Delivery can be arranged directly to your bank or commercial address through one of these private, insured carriers. We will be happy to discuss with you the most practical delivery method on larger purchases.
Can I lock in the price of gold with you?
Yes. If buying from us, see our How To Order page for terms. Selling gold to us is much the same. We will 'lock in' your net price over the phone on the day you are ready to ship gold to us.
Do you take checks in payment for gold?
Yes, we can accept payment on confirmed orders up to $50,000 with your personal check. Please understand that this payment method means it will take some time for you to receive your order. We will ship your order fifteen (15) banking days after the day we receive your check. A check made to Eckenrode Rare Coins, Inc. in the exact amount of your order can be drawn on your bank, money market, or credit union account. NOTE: We cannot accept 'cash advance' or 'line of credit' instruments that resemble checks, in payment.
Upon receipt of your check, we will send you an Email (or contact you by phone, if you prefer) confirming our receipt of your check and the shipping date for your order.
However, you can receive your gold order much more quickly by sending an electronic funds transfer (wire) to our account in the amount of your confirmed order:
An An electronic funds transfer (wire) is an instantaneous payment method - your gold will usually be shipped within 2 business days. On orders over $20,000, we will refund any fee your financial institution may charge for electronic funds transfers, up to the amount of $25.00
Do you have the coins in stock?
At any time, our physical inventory of various forms of gold is substantial. Our policy since our incorporation in 1991 is that we do not offer to sell any gold that we cannot ship immediately.
How do I get delivery of gold coins?
Usually, via Registered, Insured U.S. Mail. We can ship to a street address, or post office box. Delivery is usually 2-5 working days from when we ship, and we take complete responsibility for the gold being delivered safely for your signature. On trades of $300,000 or more, it may be more practical to arrange armored carrier delivery directly to your bank or, if practical, your place of business
Do you take credit cards on gold purchases?
No. Nor will any real bullion dealer. Credit card transactions cost the merchant a percentage of the sale, often a percentage which is higher than the profit margin on a gold transaction. For this reason, you cannot accomplish a cost effective gold purchase with a credit card.
Do you buy gold back at the same price you sell it?
No, there is a 'spread,' or difference between our buying and selling prices which enables us to stay in business. The gold bullion business is a very competitive one, and the profit margin, or spread, is a very small one compared almost any other inventory business. Eckenrode Rare Coins, Inc.'s purpose is to provide the narrowest spread possible for the gold-buying public.
How do I pay for coins?
We can accept payment by check or electronic funds transfer (bankwire).
Can I sell gold back to you?
Yes. We are always in the market for gold bullion in any form. We make a market every business day in the many forms of gold coins and bullion, and we buy for immediate payment. You can find our buy prices on this Web site for the most frequently traded forms of gold coins and bullion. The gold market is both wide and deep, and we will always offer a competitive price for any form of tradable gold.
How is my gold order filled?
Every day, we buy and sell hundreds of gold coins. Your order is part of a stream of sales each day, and we have a constant flow of new gold coins coming and going each day. Your order is taken and filled at rates based on the current spot price at the time you phone us with your order. Simultaneously we buy newly minted gold bullion each day. When your bankwire is received, or 15 business days after receipt of your check, your order is shipped within 2 business days. Each package we send out is double-counted and weighed before going to the Post Office. You will receive via U.S. Registered mail a plain brown package or packages, with no indication of its contents or company source visible on the box..
Will you buy back my gold if the price goes way up?
Absolutely. When gold goes up, that just means that demand has increased and it takes more paper currency to purchase gold than it did previously. When that happens, we will buy gold at the higher prices, because our customers will be willing to pay us higher prices. At its heart, the gold market is a very simple one. The price of gold is constantly re-adjusted, in terms of how many U.S. dollars it takes to buy an ounce of gold. This price is determined by the whole world's faith in the dollar, and gold is the constant element that the dollar is measured against. Every day, gold is traded for dollars, and vice versa. We ask, 'what is the price of gold?' as if gold actually changed. But gold stays the same, it's just the number of dollars required to purchase gold that changes.
I've never sent a bank wire. How does that work?
A bank wire is simply an electronic transfer of funds from one bank account to another. You can authorize a wire from an account containing enough cleared funds to cover the amount of the wire you wish to send. If you initiate the wire early enough in the banking day, the other party should receive those funds in his account that same day.
This electronic funds transfer (wire) is an instantaneous payment method, and allows us to ship your gold usually the next day.
When you place your order, we will provide to you or to your bank the account information necessary for a bank-wire transfer. On orders over $20,000, we will refund any fee your financial institution may charge for electronic funds transfers, up to the amount of $25.
Will you store my gold for me?
No. We do not store customers' gold. If you need a few days after paying for your gold in order to arrange storage, that's not a problem. But we encourage our clients to decide where the gold is going to go, before they buy it.