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Provident Metals

TomD

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#1
I've been buying mostly from Provident for a number of years without problems, around 20-25 orders total. The latest order has now been 8 days without shipping, it was CC pay and all in stock stuff. Called Provident and was told 6 business day shipping is now "policy". That's not what it says in the check out portion of their site, it says 1-2 days.

I don't know if this is typical but I'm real sensitive to increasing shipping times from PM dealers.

Ant one else?
 

chrisflhtc

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#2
I've been buying mostly from Provident for a number of years without problems, around 20-25 orders total. The latest order has now been 8 days without shipping, it was CC pay and all in stock stuff. Called Provident and was told 6 business day shipping is now "policy". That's not what it says in the check out portion of their site, it says 1-2 days.

I don't know if this is typical but I'm real sensitive to increasing shipping times from PM dealers.

Ant one else?
I placed an order on 11/21 and still have not received it. I got a shipping notice yesterday I payed with an electronic check they had the money in two days:totally steamed:
 

Mr Paradise

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#4
I placed an order on 11/21 and still have not received it. I got a shipping notice yesterday I payed with an electronic check they had the money in two days:totally steamed:
Was it a preorder item?
 

TomD

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#5
My previous order took a month but there was a preorder item. The site clearly said that nothing would ship until the preorder came in. That was perfectly cool. It’s now a week and a half since this order, which does not include a pre order, with no communication. Becoming less cool by the day.

I’m not nervous with a couple of hundred dollar credit card order but I would be very much so if I had sent them a bunch of gold for payment.

I really hope this turns out to be a bobble, I like Provident and they have some unique product.

I’ll let you know how it turns out.
 

shallow_explorer

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#7
Hate to see this. Been having the same issue with Gainesville. Not a healthy sign.
 

southfork

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#8
Hmm, didnt provident just buy some underwater bullion place a few months back? Seems the amount of bullion places going belly up are on the rise, Tulving, NWT and several more
 

3glocks1stack

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#10
Just received two orders from LCS one placed in aug and one in sept. Usually the guy can get pretty much anything you order within days (its really nice cause,,, well obvious) I asked him if supply was short, he said no, but that what I ordered wasn't to be found. (10 oz AG bars?????) Sounded like short supply to me. I called him a couple times over the weeks, just to make sure, and eventually did come through.
 

Rollie Free

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#11
Add me to the 'ordered once from NWT' crowd.

Once.

I am a bargain hunter but if there seems to be some quirky angle like Tulving and Northwest it appears to be only a matter of time before things collapse and a good deal of money is lost on unfulfilled orders.
 

chrisflhtc

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#12
They finally came on Friday the 7th not special order just Franklin and Kennedy halves.
 

AguA

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#13
On the plus side, you can always put money into Provident's DGGold system.

Actually, that concerns me a bit. Provident says you buy digital gold, secured at the RCM with no transaction, maintenance, or storage fees for "your" bullion, but when you want to "cash" out in gold, you've got to buy it at the current spot bid price from Provident.

Which if you bought 10 digital ounces @ $1200, but spot is up @ $1600 when you go to "cash" out, you'll lose about 3-4 ounces.

I also guess the metal will always be available in their stock. Glad it doesn't sound anything like any other company I've read about in recent history.

I don't know a lot about anything, but, it sounds like a free cash source for them to spend on the company(?) while you pay their interest and then some.

Between their ongoing delivery delays and that little digital system of theirs, Provident just shooed me away.

I always liked them too. Oh well.
 

TomD

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#14
My latest Provident order showed up after 2 weeks and 1 day. My previous 20 or so orders with them, if they were CC orders of in stock stuff, would typically ship 2nd business day after order and be in my hands on the 4th or 5th day.

Maybe it's Christmas. I'll order small CC orders with them again but I'll be watching hard. No way would I send them several tens of $thousands worth of metal expecting payment or send them a large check or money transfer until they show a stable trend. And, in the metals business, lengthening delivery delays are the opposite of what I call stable.
 

TomD

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#15
Just found this Provident review online:


Kyle G.
7 reviews

1 helpful vote



“Don't buy from them. The are filing for bankruptcy”

11/30/18

My brother works for them and he said they are getting ready to file for bankruptcy like so many precious metals companies have done. They are struggling to send people their orders but they are still taking orders. Some people won't get their order after they file for bankruptcy just like when the other companies did not pay. I went to the company and spoke to several workers who are afraid of losing their jobs, but are more afraid of Provident Metals not being honest about their financial troubles. So do not order from them because you likely won't get your order.
 

Varmint Hunter

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#16
Just found this Provident review online:


Kyle G.
7 reviews

1 helpful vote



“Don't buy from them. The are filing for bankruptcy”

11/30/18

My brother works for them and he said they are getting ready to file for bankruptcy like so many precious metals companies have done. They are struggling to send people their orders but they are still taking orders. Some people won't get their order after they file for bankruptcy just like when the other companies did not pay. I went to the company and spoke to several workers who are afraid of losing their jobs, but are more afraid of Provident Metals not being honest about their financial troubles. So do not order from them because you likely won't get your order.
Thanks for this info....but it just occurred to me that this could be fake news planted by some unethical competition?
 

ttazzman

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#17
Thanks for this info....but it just occurred to me that this could be fake news planted by some unethical competition?
it absolutely could be "fake news" ....but in the glaring light of slow deliveries it certainly bears watching and keeping orders at manageable risk levels.....i was a Tulving buyer for years and quit buying when his deliverys started slowing down and glad i did due to his much higher minimum purchase levels
 

historyrepete

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#18
Fwiwi threw the dice on an order last month on a product that was on back order. I received it in less than 2 weeks.
Slow deliveries and their digital storing cautions me tho.
 

louky

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#19
Nothing new for provident, they've been "floating" people's payment for a while now. They got me for like 30 days a couple of times from receipt of payment to shipping date so i stopped ordering from them a few years ago.
 

mcmurph

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#20
Placed my first order with Provident 12/9. Mailed personal check 12/10. Saw this thread and became nervous 12/11. Order switched to "Payment Processing" 12/14. Order payment "Confirmed" 12/20. Order shipped 12/21. Order arrived 12/24.

I do like their prices. I'll continue to order from Provident placing "manageable loss" sized orders.
 

CopperSilverGold

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#21
I have bought from Apmex a couple of times before, but the waiting game was too much with my impatience. I now only buy local - cash and carry. With silver at a relative bargain (IMO and others seem to think so too), physical silver is getting harder to find ready to go. The LCS was really low on 90% silver this past weekend - we're talking maybe $20-$25 face total. Buy while you can at these prices.
 

Silver Art

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#22
I have bought from Apmex a couple of times before, but the waiting game was too much with my impatience. I now only buy local - cash and carry. With silver at a relative bargain (IMO and others seem to think so too), physical silver is getting harder to find ready to go. The LCS was really low on 90% silver this past weekend - we're talking maybe $20-$25 face total. Buy while you can at these prices.
I buy mainly from LCS but I have bought from Provident, Apmex and JMB in the past and never had any issues with them and I will continue to buy from them mainly if they have new silver items that I like and I am willing to pay a higher premium on them.

The current situation is this at sub-$15 silver..............................................People (with some exceptions) are not selling silver at these levels and when LCS's get any silver in their shops, it is bought almost immediately by people who are looking to buy it cheap. As long as spot is at these levels (and lower), then this will not change and it will be a hell of a challenge to buy silver from a LCS at these levels for low premiums over spot. JMHO.
 

Silver Art

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#23
The last time that I bought any silver from Provident, I paid with Bitcoin when I was getting free BTC online and, at that time, my orders were processed and shipped within 1 business day but that was a long time ago when I had BTC to spend on silver.
 

AgAuGal

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#25
I have recently bought from Provident and atypical for me it was a presale. I asked in January why my order did not ship, i also noticed a recent order looked different from past shipments. I was told they were in the process of moving to a new facility and this happening at same time presale items being processed. My order shipped a few days later.

I have received all my orders in last 6 months, most as expected ship date if not earlier, well packaged and competitive price. I'm still a fan of Provident.
 

AgAuGal

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#26
The gold bracelet from provident was a hit for the wife as a Christmas gift. I'm pleased with it also. Nice 1 oz of at a fair enough price last month
Did not know they sold jewelry.
 
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#27
I've been buying mostly from Provident for a number of years without problems, around 20-25 orders total. The latest order has now been 8 days without shipping, it was CC pay and all in stock stuff. Called Provident and was told 6 business day shipping is now "policy". That's not what it says in the check out portion of their site, it says 1-2 days.

I don't know if this is typical but I'm real sensitive to increasing shipping times from PM dealers.

Ant one else?
Remember Tulving? That's how his collapse started if you recall. His shipping started to become delayed . . .
 
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#28
I have made about 25 orders from Provident and it's all been fine. My only observation has been the lack of good deals that they offer now. Guess they had to stop in order to stick around.
 

TomD

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#29
Most recent order (small, maybe $200) was from Apmex on a credit card. It got here within 4 days of the order. I'll try a small one from Provident. I'm cheering for them, been buying from them for years and like their product.

Here's one from their 2 oz high relief Pirate series. The premium is/was pretty low on these. Plus I really like their Prospector series and they had a really good Lunar, better than the Perth mint, really. Ever seen a more determined looking donkey?