Review: Provident Metals

Unobtanium

Big Eyed Bug
Messages
464
Reaction score
1
Points
133
I was very impressed with their service and they have pretty decent prices also. From most everything I have read elsewhere, they have a good reputation.

You can buy online here, which means you can lock in the current spot price no matter what time of day, 24hrs a day. (Oh do I wish I was up at 2 am when the silver spot price very briefly dipped to $26 several weeks ago).

Metals are shipped out quickly after an order is placed.
 

pmbug

Your Host
Administrator
Messages
7,435
Reaction score
16
Points
193
Location
Texas
Website: http://www.providentmetals.com/

Provident is located in Texas, so anyone from Texas will have to pay sales tax on orders less that $1,000.

Provident only accepts credit card orders for $1,500 or less. Larger orders must be paid by check, money order or bank wire.

Their website is easy to navigate and they do show both their cash and credit card prices for all products clearly.

In my comparisons of online dealers, Provident has consistently been in the top 3 of lowest prices - and usually the #1 among dealers that do not have a mininum purchase requirement.

They have a stellar reputation for shipping and delivery.
 

protectmywealth

Fly on the Wall
Messages
1
Reaction score
0
Points
0
I had a terrible experience with Provident Metals and I know from searching the internet that I am not the only one. Extremely delayed shipping, coins were not as described when they finally arrived, and aweful customer service. Would never buy from Provident Metals again!
 

PMD Victim

Fly on the Wall
Messages
9
Reaction score
0
Points
0
Provident Metals scam

Edit (PMBug): The following post turned out to be very wrong. Please see post #9 below for PMD Victim's mea culpa.

I too have had a horrible experience with Provident Metals and will be going to court to recover my loss. Ordered 5 - 2012 Year of The Dragon 5 0z silver bars but only received 3. They say there is nothing they can (read- WILL) do to help. Provident Metals is trying to rip me off for 2 - 2012 Year of the Dragon 10 oz silver bars. I have five witnesses that were present when I received the box and opened it. The box was completely intact and untampered. The tape job made it almost impossible to open without clear signs of tampering. There can only be two possible cases, this was an honest mistake or it it outright fraud! I will see them in court.

Do you know of others who have been cheated by this company? I'm gathering as much data and witnesses as possible to hold their feet to the fire.

Edit (PMBug): Provident Metals contacted me regarding this post and said:
Provident Metals said:
... in this particular case we actually did send this gentleman 5 ten oz silver dragon bars. We have HD video evidence of the packaging as we film every package that goes out the door to protect our customers interests as well as our own. ...
 
Last edited by a moderator:

pmbug

Your Host
Administrator
Messages
7,435
Reaction score
16
Points
193
Location
Texas
Thanks for sharing your story. Please do let us know if they make you whole on your order. In the meantime, I encourage you (and pmw) to use the thread rating (located just above the first post in the thread on the right hand side) to rate the thread 1 star (or whatever you believe is appropriate) to reflect your opinion of Provident Metals.
 

ancona

Praying Mantis
Messages
3,370
Reaction score
0
Points
0
Location
Waaay south
I am very sorry to hear about that PMDV, because it always enrages me when I hear stuff like this. On another site I am a member of, one of the long timers who is a good and trusted member dealt with Tulving and had a bad experience with them. Evidently, he convinced his pop to buy a "quantity" of sovereign silver [Eagles I believe] and received generic crap instead. Hans would not make it right no matter how loud the squeaky wheel got.

Unfortunately for small buyers like us, there are far too few options beyond a few very highly respected outfits and our LCS. I use Apmex, who has some of the highest premiums around, but who have on every shipment, honored their agreement. I also infrequently use Northwest Territorial Mint, because their premiums are reasonable and the silver is always what I ordered, but the wait times make me crazy. A couple of grand is just too much dough for me to wait around three months for my metals. I have twice used Bullion Direct with good results, but I can't stand the e-mail bombardment trying to get me to have a fucking Nucleo account, but again, I always get what I order.

OTOH, my LCS, Bay Coin in Melbourne, is an awesome place to do business. The premiums are always equivalent to the more competitive on-line dealers and I don't pay tax. He doesn't always have what I want, but if I leave a token deposit of 10$, he will get me anything I want and deliver it to my home. That's right.......he brings it to my office or directly to my house. I am not talking about monster boxes either, just a hundred ounces or so. The guy is honorable and has good inventory. If I let him know in advance about something odd I may be on the lookout for, he puts the request on his "hot sheet" and for a very small 'vig' matches me with a seller so the transaction is clean, and if I wish, he will shoot it with his Niton gun, or I will simply bring mine. In fact, when a client of his wanted to shoot some 5 ounce gold rounds [20 I think] he asked me to come in with my gun, because the guy doubted his calibration or something. Anyway, when I finished he gave me a five ounce JM silver bar with old school serial numbers. I didn't ask for anything for shooting the gold, I just did it.

When we forge relationships with our dealers, it becomes important to realize that they may be the only people who have any silver or gold at all when it really counts, and they will most likely only wish to deal with people they know and trust at the end of fiat.

Again, I am so sorry to hear that you got jagged for twenty ounces of silver, which is over six hundred clams that "evaporated". That sucks enough to make me want to go all baseball bat on someone. Look at it this way man, at least it wasn't gold...........I know that doesn't make you feel any better, but when I learn hard lessons, I prefer they are as inexpensive as possible. It may be a case of simple pilfering, but I fail to see how any PM dealer would not have metal detectors at the entrance and exit of a warehouse or bullion room, because it makes perfect sense to do so. Just like drug lords who use all women in their handling and processing rooms, then requires them to work naked so it is virtually impossible to steal product, metals dealers should use RF protected rooms with metal detection systems at all entrances/exits.
 

PMD Victim

Fly on the Wall
Messages
9
Reaction score
0
Points
0
I am very sorry to hear about that PMDV, because it always enrages me when I hear stuff like this. On another site I am a member of, one of the long timers who is a good and trusted member dealt with Tulving and had a bad experience with them. Evidently, he convinced his pop to buy a "quantity" of sovereign silver [Eagles I believe] and received generic crap instead. Hans would not make it right no matter how loud the squeaky wheel got.

Unfortunately for small buyers like us, there are far too few options beyond a few very highly respected outfits and our LCS. I use Apmex, who has some of the highest premiums around, but who have on every shipment, honored their agreement. I also infrequently use Northwest Territorial Mint, because their premiums are reasonable and the silver is always what I ordered, but the wait times make me crazy. A couple of grand is just too much dough for me to wait around three months for my metals. I have twice used Bullion Direct with good results, but I can't stand the e-mail bombardment trying to get me to have a fucking Nucleo account, but again, I always get what I order.

OTOH, my LCS, Bay Coin in Melbourne, is an awesome place to do business. The premiums are always equivalent to the more competitive on-line dealers and I don't pay tax. He doesn't always have what I want, but if I leave a token deposit of 10$, he will get me anything I want and deliver it to my home. That's right.......he brings it to my office or directly to my house. I am not talking about monster boxes either, just a hundred ounces or so. The guy is honorable and has good inventory. If I let him know in advance about something odd I may be on the lookout for, he puts the request on his "hot sheet" and for a very small 'vig' matches me with a seller so the transaction is clean, and if I wish, he will shoot it with his Niton gun, or I will simply bring mine. In fact, when a client of his wanted to shoot some 5 ounce gold rounds [20 I think] he asked me to come in with my gun, because the guy doubted his calibration or something. Anyway, when I finished he gave me a five ounce JM silver bar with old school serial numbers. I didn't ask for anything for shooting the gold, I just did it.

When we forge relationships with our dealers, it becomes important to realize that they may be the only people who have any silver or gold at all when it really counts, and they will most likely only wish to deal with people they know and trust at the end of fiat.

Again, I am so sorry to hear that you got jagged for twenty ounces of silver, which is over six hundred clams that "evaporated". That sucks enough to make me want to go all baseball bat on someone. Look at it this way man, at least it wasn't gold...........I know that doesn't make you feel any better, but when I learn hard lessons, I prefer they are as inexpensive as possible. It may be a case of simple pilfering, but I fail to see how any PM dealer would not have metal detectors at the entrance and exit of a warehouse or bullion room, because it makes perfect sense to do so. Just like drug lords who use all women in their handling and processing rooms, then requires them to work naked so it is virtually impossible to steal product, metals dealers should use RF protected rooms with metal detection systems at all entrances/exits.
I learn my hard lessons well but will not stand for being ripped off. This is going to court. Apmex was our original dealer and I'll go back to them. I will NEVER do business with PM again.
 

ancona

Praying Mantis
Messages
3,370
Reaction score
0
Points
0
Location
Waaay south
While it is only 600 samoleans, I agree with you on this 'Vic. Fuck these pricks! The judge can and most likely will, give you treble damages and force Provident Metals to pay your legal expenses. Just remember to document how much time yopu spend preparing your case. Every second is billable time. Fuck these guys and feed 'em fish heads.
 

PMD Victim

Fly on the Wall
Messages
9
Reaction score
0
Points
0
Thanks for sharing your story. Please do let us know if they make you whole on your order. In the meantime, I encourage you (and pmw) to use the thread rating (located just above the first post in the thread on the right hand side) to rate the thread 1 star (or whatever you believe is appropriate) to reflect your opinion of Provident Metals.
My sincerest apologies to Provident Metals. The mistake was on my end and not theirs. After a heeping helping of crow, I must retract the statement above. I will continue to do business with Provident Metals. if they will allow me too. They are a fine company. Jeremy, to you my most heartfelt apology.
 

rblong2us

Yellow Jacket
Messages
2,090
Reaction score
8
Points
153
Location
off world
Ok PMDV,

what caused the misunderstanding with Provident that has you apologising so profusely ???
 

pmbug

Your Host
Administrator
Messages
7,435
Reaction score
16
Points
193
Location
Texas
My sincerest apologies to Provident Metals. The mistake was on my end and not theirs. ...
I would be happy to change your username if you would like to continue participating here. So what's the story? :popcorn:
 

PMD Victim

Fly on the Wall
Messages
9
Reaction score
0
Points
0
Ok PMDV,

what caused the misunderstanding with Provident that has you apologising so profusely ???
It's really to lengthy and complicated to explain but just understand, it was my error not theirs and when I know I've made a mistake, I admit it and set about to immediately make things right.
 

pmbug

Your Host
Administrator
Messages
7,435
Reaction score
16
Points
193
Location
Texas
I updated post #4 with a response from Provident Metals.
 

ancona

Praying Mantis
Messages
3,370
Reaction score
0
Points
0
Location
Waaay south
I think it shows a lot of pride in product to scour PM sites to set their record straight and keep the communication lines open. I have seen a whole lot of emotion about PM's, especially when folks make a large buy and think there is a problem when actually there is not. I have seen folks bash the hell out of a company only to have a rep from the company sign on and add their side of the story. My pop always said that the truth almost always lies in the middle, and not on one side or the other.

More than a few times, I've seen PM dealers stand up for themselves on-line, after taking a bashing, and it helped to clear the picture each and every time.

Remember folks, when you type something on the internet, it is there forever.
 

rblong2us

Yellow Jacket
Messages
2,090
Reaction score
8
Points
153
Location
off world
Ordered 5 - 2012 Year of The Dragon 5 0z silver bars but only received 3.
Seriously, how can there be a mix up between 3 and 5 bars ????

You say loads of witnesses to there being only 3 bars when you opened the package, yet accept belatedly that Provident Metals sent you 5 bars ........

How can this be too complicated to explain ??????
 

issaquahbob

Fly on the Wall
Messages
2
Reaction score
0
Points
0
I am on the same page. Something important is missing here and until we hear a short explanation it will be hard to simply accept "sorry it was actually all my fault" after all the negative posts, even if credit is given for fessing up to the error. 3 vs 5 is hard to reconcile along with "multiple witnesses". Those who post should follow the old adage, measure twice, cut once. Or, more simply and redundantly stated, be absolutely sure you are 100% correct...

And to add one more point. The first person posting negative about PM has only one post. Hmmm. Second poster has four but all on same issue. As a newbie I am here to learn, not be negative, especially early on.
 
Last edited:

ancona

Praying Mantis
Messages
3,370
Reaction score
0
Points
0
Location
Waaay south
I agree with Bob on this one. I do not see how this could be at all complicated. If it is a matter of a split delivery, when they send half today and half in a couple of days when their wholesale inventory is resupplied, then point that out to us. I think it is important for this forum to recognize when we are wrong, yet simply owning a mistake is not enough when serious allegations are made referencing a dealer such as Provident, then no explanation is offered.
 

Provident Metals

Fly on the Wall
Messages
1
Reaction score
0
Points
0
Many times, when customers have a problem with a company (whether perceived or real), they may be quick to overreact, if they feel they got the short end of the stick. This is why we've come up with policies and a framework, with which we are able to protect the interests of our customers as well as our own. Our policies include video taping every package that comes in or goes out of our facilities, as well as other proprietary means of identifying and locating products and packages. In this case, we were able to confirm that this package was shipped in its entirety to the customer. The customer called us upon receipt and stated that we didn't ship two 10 oz bars. Fortunately, we had HD video evidence of the packaging of the full order, which lead us to believe the missing silver bars were probably still in the discarded box. We asked that he check his packaging again being this is the #1 cause of mix-ups; simple misplacement of items while opening the package. Understandably, the customer was upset. And we can't blame him... If we thought a vendor was stiffing us for 20 ounces of silver, we wouldn't be very happy either. This is when he wrote his first post.

After a week, he wrote us back to let us know that he had found the bars; while dropping the packing peanuts into the garbage, two silver bars and the packing slip also fell into the trash can. It was an unfortunate mistake, and one that he owned up to, and for which he apologized profusely. This is a mistake that happens more often than you would think. It took a lot of courage to own up to his mistake, and extend a hand of fellowship, as well as apologize to us, for which we are greatly appreciative. We would hope that all our customers would give us feedback when we do something right, and especially when we do something wrong. We do stand up and take full responsibility when we have made a mistake in the past. Here at Provident Metals, we ALWAYS do our very best to be the People's Bullion Provider, and a large part of that is making sure we live up to our obligations of top notch customer service. In the end we're just glad PMDV found his silver and was pleased with our efforts in a tough situation.

Kind regards,
Provident Metals
 
Top