Amagi Metals - Best Prices of Gold & Silver for Bitcoins

[amagimetals]

Do you guys have plans to start accepting litecoin? Also can you explain irs reporting rules. I know if you make a purchase under 5k most places don't report it. What if you make 10 small purchases and say the total is 15k are there any rules for reporting total amounts?

It's IRS Form 8300 for orders over $10,000 in a one year period. The way we interpret it is that you must fill it out if you buy $10,000 worth of coins with bitcoins. However you do not need to fill it out if you buy rounds or bars.

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[salfter]

You guys also need to get better dealers $2+ over spot is fairly expensive, you need to be around $1.5 or lower.

I ran across this last night:

http://www.zerohedge.com/news/2013-05-01/silver-just-179-over-spot-there-one-minor-catch

Those who have been following the barren wasteland that is the precious metals retail market know that not only is it virtually impossible to get any silver for less than a $3-4 premium per ounce over spot, but it has become next to impossible to find any physical, period. So the fact that Apmex is now selling silver at just a $1.79 over spot - a bargain even in the days when JPM wasn't about to run out of commercial gold (incidentally no change in the gold held at the firm's 1 CMP vault as of yesterday's close), and certainly a blue light special at a time when the entire world is scrambling for anything shiny. There is however one minor catch. Maybe not so minor. Because while most PM afficionados are used to buying silver by the ounce, or at most bar, the Apmex offer involves a very generous dollop of Silver Koala. 1 Kilogram's worth of generous.

[amagimetals]

Their shipping is also $19-25 when you purchase an ounce of silver from APMEX. Ours is $2-3. They also do not take bitcoins. Did you look at the prices yourself?

One 2013 American Silver eagle:

APMEX: $30.56
Amagi Metals: $29.28

Maple Leaf:
APMEX: $30.57
Amagi Metals: $29.52

Go over and look for yourself!

[pizza]

Listen Amagi the prices arent bad for an online retailer just comparing locally. Also never answered about litecoin do you guys plan on accepting it in the future?

[pizza]

Do you guys have plans to start accepting litecoin? Also can you explain irs reporting rules. I know if you make a purchase under 5k most places don't report it. What if you make 10 small purchases and say the total is 15k are there any rules for reporting total amounts?

It's IRS Form 8300 for orders over $10,000 in a one year period. The way we interpret it is that you must fill it out if you buy $10,000 worth of coins with bitcoins. However you do not need to fill it out if you buy rounds or bars.

And this is per order? Or total orders combined?

[kgo]

Do you guys have plans to start accepting litecoin? Also can you explain irs reporting rules. I know if you make a purchase under 5k most places don't report it. What if you make 10 small purchases and say the total is 15k are there any rules for reporting total amounts?

It's IRS Form 8300 for orders over $10,000 in a one year period. The way we interpret it is that you must fill it out if you buy $10,000 worth of coins with bitcoins. However you do not need to fill it out if you buy rounds or bars.

I think the question was, do you consider payments via BitPay to be cash?

[amagimetals]

Do you guys have plans to start accepting litecoin? Also can you explain irs reporting rules. I know if you make a purchase under 5k most places don't report it. What if you make 10 small purchases and say the total is 15k are there any rules for reporting total amounts?

It's IRS Form 8300 for orders over $10,000 in a one year period. The way we interpret it is that you must fill it out if you buy $10,000 worth of coins with bitcoins. However you do not need to fill it out if you buy rounds or bars.

I think the question was, do you consider payments via BitPay to be cash?

We are not planning on accepting litecoin anytime soon. The $10,000 rule is $10,000 in cash in any 12 month time-frame.

We accept bitcoins, and BitPay is our bitcoin processing company. If you spend over $10,000 in bitcoins for legal tender coins (Maple Leaves, American Silver Eagles, gold buffalos, gold eagles, or gold krugerrands) then we must fill out IRS form 8300 because you are buying currency (monetary gold/silver) with bitcoins. If you spend over $10,000 in bitcoins for rounds, medallions, bars, or bullion not considered legal tender, then you do not have to fill out IRS form 8300 at this time because you are not buying currency. If you spend over $10,000 with cash or cashiers check on any product, then you do have to fill out IRS form 8300 at all times. If you pay with credit card, bank wire, or personal check, you can spend any amount without having to fill out IRS form 8300. However we do not accept credit cards over $10,000, and personal checks over $20,000. For credit card orders over $1,000 you may have to send us a picture of your license, or other identifying information to protect our customers from stolen credit cards or other forms of fraud that is rampant in the credit card industry.

[Kao]

I hate to keep having to ask this because I know it starts sounding like a broken record but is there any change in the progress of getting cases up for sale, especially for the 1oz silver eagle and silver maple leaf coins? I realize that getting cases can be a pain, doubly so because each coin is of slightly different size (40.6mm and 38mm x 3.29mm respectively for the Silver Eagle and Maple Leaf 1oz rounds) but considering that those two must be your best selling coins, if not your overall best selling products, they'd be nice to have.

I'm still holding off on ordering until I can get cases through Amagi or I'm told that the plan has been dropped. Considering how good Amagi has been in the past I really hope that they haven't given up on this because it's a win for the customers and Amagi.

[amagimetals]

I hate to keep having to ask this because I know it starts sounding like a broken record but is there any change in the progress of getting cases up for sale, especially for the 1oz silver eagle and silver maple leaf coins? I realize that getting cases can be a pain, doubly so because each coin is of slightly different size (40.6mm and 38mm x 3.29mm respectively for the Silver Eagle and Maple Leaf 1oz rounds) but considering that those two must be your best selling coins, if not your overall best selling products, they'd be nice to have.

I'm still holding off on ordering until I can get cases through Amagi or I'm told that the plan has been dropped. Considering how good Amagi has been in the past I really hope that they haven't given up on this because it's a win for the customers and Amagi.

We actually have them in stock now, we just have not listed them yet! They fit silver rounds and silver Maple Leaves, but not Silver Eagles. We just made a listing for you here:

http://www.amagimetals.com/collections/1-troy-ounce-bullion-round-airtight-capsule-airtite-case-for-one-troy-ounce-silver-rounds.html

However we have not added the dimensions or images yet.

[rm187]

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[Tirapon]

Recently made an order with Amagi Metals for a total of 5oz of silver (http://www.amagimetals.com/silver/fractional-mix/1-2-ounce/1-2-oz-silver-marijuana-round.html <-- these rounds, which I think will make pretty cool gifts for friends, and I can tell them I payed with bitcoins  )

Unfortunately when the parcel arrived it was empty - the box had been opened and I'm assuming the goods were stolen in transit. I sent an email and got a very quick reply with the offer of a full refund. As I still wanted the order, I asked for a reship instead which has been sent today. Excellent communication from these guys, and great customer service. I hope the reship arrives safely.

Thanks very much, I will hopefully be making some larger orders in the future.

[barbarousrelic]

Recently made an order with Amagi Metals for a total of 5oz of silver (http://www.amagimetals.com/silver/fractional-mix/1-2-ounce/1-2-oz-silver-marijuana-round.html <-- these rounds, which I think will make pretty cool gifts for friends, and I can tell them I payed with bitcoins  )

Unfortunately when the parcel arrived it was empty - the box had been opened and I'm assuming the goods were stolen in transit. I sent an email and got a very quick reply with the offer of a full refund. As I still wanted the order, I asked for a reship instead which has been sent today. Excellent communication from these guys, and great customer service. I hope the reship arrives safely.

Thanks very much, I will hopefully be making some larger orders in the future.

Make sure you also file a police report.

[amagimetals]

Make sure you also file a police report.

This.

We have also started using FedEx for international shipments over $1,000. The costs are slightly higher, however the benefits are that we can ship orders more securely to more locations all over the world. International shipments are insured up to $150,000 to some countries.

We have also added a JSON API for anyone who wants to use it. It includes BTC, gold, silver and EUR. You can find it here:

http://amagimetals.com/exchangerates.php

Thank you everyone!

[UPENtXF]

You guys also need to get better dealers $2+ over spot is fairly expensive, you need to be around $1.5 or lower.

Not with the silver shortages. Which reputable online dealer has prices $0.50 less than us?

I think MeritGold has it, but they don't accept BTC.

And those who think $2 over spot is expensive, forgot how much it was over spot not long ago, and haven't visited their local coin store, which will laugh at you if you say that even $7 over spot is expensive.
The bastards offered me 10% BELOW spot for gold! The local pawn shop told me that they would buy my silver below spot, and sell to me several $ above!
 Some great videos on that here:
https://www.youtube.com/watch?v=tApPNtx7_LQ

There are some great videos about the silver shortages myth on the same channel:
https://www.youtube.com/user/daytradeshow/videos

https://www.youtube.com/watch?v=fxvxgLuP8WQ

Compared to your competition among the Bitcoin PM retailers though, I think you are the current price leader, and being very reasonable, as long as you actually deliver the products. May that continue to be so!

[amagimetals]

MeritGold does have nice prices. They are not selling 2013 ASE's or Maple Leaves though. What are their shipping costs like?

[Kao]

We actually have them in stock now, we just have not listed them yet! They fit silver rounds and silver Maple Leaves, but not Silver Eagles. We just made a listing for you here:

http://www.amagimetals.com/collections/1-troy-ounce-bullion-round-airtight-capsule-airtite-case-for-one-troy-ounce-silver-rounds.html

However we have not added the dimensions or images yet.

Thank you very much, yet again this is Amagi Metals going above and beyond to give the customers what they want. I just ordered another Silver Maple Leaf coin and a bunch of cases and will keep my eyes out in case you can get the Silver Eagle sized ones in the future.

[UPENtXF]

MeritGold does have nice prices. They are not selling 2013 ASE's or Maple Leaves though. What are their shipping costs like?

I only use them for reference, because they don't accept Bitcoin.

[BTCvFiat]

I made my first ever purchase with Bitcoins via AmagiMetals.

While it was a newbie mistake on my part to try and order via Coinbase (eWallet service, I have since setup my own BTC wallet); my payment didn't confirm the transaction with the 15 minute time frame of Bitpay. Shortly after this occurred; I sent an email to the AmagiMetals contact address in hopes of not being out of pocket with both my order and some Bitcoin. Email correspondence to resolve problems with the order soon followed; and shortly after such concerns were vanquished as my BTC payment was located and confirmed (a few hours after I sent it Coinbase ) from which my silver order was added on my site account for shipment.

After a few weeks delay (given the BTC price rush followed by a crash in the paper price of silver), I collected my order in this mornings mail with wishes that USPS could be a little quicker processing mail in future.

A minor suggestion; I would like to see a discounted price on one ounce coin capsules as an option to add on orders with one ounce silver rounds/coins.
Also a message on orders (I haven't ordered since this one so not sure if added or not) is to have people order from their own wallets as opposed to using an eWallet service given my experience with Coinbase.

Many thanks to S.M for his assistance; I shall again trade through AmagiMetals in future (hopefully payments will confirm more quickly from my own BTC wallet ) and recommend anyone else reading this post to do so with confidence. 

BTC 1 - Fiat 0

[amagimetals]

Thank everyone you for all your business!

We have 1 oz silver Murray Rothbard rounds available for immediate shipping! We are also going to get Austrian Philharmonic silver coins. We will not list them until they are ready to ship. They will ship within 1 business day of purchase.

[fourd00rgtz]

Make sure you also file a police report.

We have also started using FedEx for international shipments over $1,000. The costs are slightly higher, however the benefits are that we can ship orders more securely to more locations all over the world.

Now I have to split up my purchases to under $1000, I work out of town and my post office holds packages up to 3wks, all the couriers only 5 business days.

After further playing around with your site, it seems USPS is not an option at all when paying in btc. As soon as I flip the order into $ USPS becomes an option.... That on purpose?