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Author Topic: Coinabul - Gold Unbarred [Huge Sale]  (Read 4443 times)
Coinabul
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April 25, 2012, 08:05:04 AM
 #1


Coinabul is exploding with growth! (Hence the explosion! Wink)

We're celebrating our sixth month anniversary by giving major discounts to gold and silver.

Use coupon code SIXGOLD to get 1% off your gold order when you purchase 3+ items.

Use coupon code SIXSILVER for a 5% discount on silver when you purchase 3+ items!

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danieldaniel
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April 25, 2012, 08:56:58 PM
 #2

Coolbeans.

Already bought some, as you know!

And shipped in like 5 hours.  :O :O


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April 26, 2012, 02:34:12 AM
 #3

Cool! I might pick some of this up.

“First they ignore you, then they laugh at you, then they fight you, then you win.”  -- Mahatma Gandhi

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ChanceCoats123
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April 26, 2012, 06:07:45 AM
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Do your prices ever change to reflect the BTC<->USD market, or have you already purchased these items and you have to sell at x price? I don't mean to call you out (I'm sure others have mentioned this), but your prices for bullion are > 20% over spot... What gives?
ccliu
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April 26, 2012, 07:16:55 AM
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how else do they make money?

local coin shops that I go to sell above spot too, its not new.
Coinabul
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April 26, 2012, 09:06:30 AM
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Do your prices ever change to reflect the BTC<->USD market, or have you already purchased these items and you have to sell at x price? I don't mean to call you out (I'm sure others have mentioned this), but your prices for bullion are > 20% over spot... What gives?
Our prices update every minute of every day to reflect both markets! Smiley

Also, the price over spot reflects both the manufacture cost of the coins/bars and our overhead.

We're still a small company, so our overhead is large, but we're still very competitive with USD dealers.

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ChanceCoats123
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April 26, 2012, 12:13:15 PM
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how else do they make money?

local coin shops that I go to sell above spot too, its not new.

I was just confused... Most dealers near me aren't charging 20% over spot on bullion. That's the range I see for UC and graded coins...

Do your prices ever change to reflect the BTC<->USD market, or have you already purchased these items and you have to sell at x price? I don't mean to call you out (I'm sure others have mentioned this), but your prices for bullion are > 20% over spot... What gives?
Our prices update every minute of every day to reflect both markets! Smiley

Also, the price over spot reflects both the manufacture cost of the coins/bars and our overhead.

We're still a small company, so our overhead is large, but we're still very competitive with USD dealers.

Thank you for the answer. It makes sense, I was just curious. Smiley
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April 26, 2012, 12:29:20 PM
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I've been checking out your listings since day 1 since I've got lots of bitcoin to spend but I can get a much better deal with APMEX.  I'd love to do business directly in bitcoin but not enough to lose $2-300 on every order plus uninsured shipping Huh.  I'm sure it's hard to start up a business but I just wish you could improve your prices just a little to be competitive.
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April 27, 2012, 01:05:15 AM
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Is this a whole month of May celebration? how long can we expect these coupon codes to work?

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April 27, 2012, 03:55:01 AM
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how else do they make money?

local coin shops that I go to sell above spot too, its not new.

I was just confused... Most dealers near me aren't charging 20% over spot on bullion. That's the range I see for UC and graded coins...

usually, junk sells at spot and they buy below, as they have to melt it, ship it, all that crap. However, chunks of silver are all ready and selling below spot makes them lose money as they have to buy it at spot. The dealers are sometimes the 4th or 5th person to handle the bullion, and as such there is say 4% per person it can add up.
Coinabul
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April 27, 2012, 07:37:34 AM
 #11

Is this a whole month of May celebration? how long can we expect these coupon codes to work?
The coupons last until May 11th.

Oh, and we'll be doing some more sales during the month of May Smiley

Cheers!
-Jon

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Als Pawnshop
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April 29, 2012, 11:35:22 AM
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I wanted to try placing an order but can you do a better deal on shipping.  I don't want to send $5k worth of bullion uninsured.  But seriously, $150 for international shipping?  How are those costs calculated?  APMEX charges $35 for 2-day Fedex shipping to Canada insured for any amount.  Is there any reason you can't match that?  I don't mind paying a 1-2% extra to support the bitcoin community but the shipping totally kills the deal.
Coinabul
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April 30, 2012, 07:07:25 AM
 #13

We've been getting a lot of orders! The sale won't last long, get in before BTC dips anymore! Smiley

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Als Pawnshop
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April 30, 2012, 11:28:21 PM
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Would you please respond concerning shipping?  Does it really cost $150 to insure shipment to Canada?  No cheaper option??  Please don't just ignore and cut off your potential Canadian customers.  There are people sitting here with thousands of BTC burning a hole in their pocket if this can be addressed.
Coinabul
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April 30, 2012, 11:46:51 PM
 #15

Would you please respond concerning shipping?  Does it really cost $150 to insure shipment to Canada?  No cheaper option??  Please don't just ignore and cut off your potential Canadian customers.  There are people sitting here with thousands of BTC burning a hole in their pocket if this can be addressed.
We offer the cheapest shipping possible. It's related to how much gold you order as well. We get way better rates than the public does.

We are still improving too! We're working on some new shipping processes that will enable us to send fully insured parcels worldwide for lower rates, which will be ideally completed in a month or so!

Coinabul.com - Gold Unbarred
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fourd00rgtz
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May 01, 2012, 02:38:37 AM
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For what it's worth, in my silver orders shipped to Canada from coinabul I pay about 7.5btc insured for the equivalent of less then $1000us, one coin over and it doubles.... Try playing around with order size and you might get a smaller s+h.  Of course you may be ordering significantly more then I do.... Especially if you're buying gold.

I choose to do frequent smaller orders to spread btc value risk over many transactions.

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May 01, 2012, 02:01:28 PM
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Why don't you use USPS Flat Rate shipping with tracking? AFAIK you can fill them with cement and they still have to ship it. The most it would be to Canada is about $45 USD insured. That's a 23"x11"x3" box, that's a lot of gold!

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May 02, 2012, 11:16:46 PM
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How does "uninsured" shipping work?  I'm willing to try this option but I'm a bit concerned about mail theft.  Would there still be tracking with the order?  Also, would you declare the actual value?  I think that would be a very bad idea.  The only time I ever declared a value higher than the insurance value was the only time I ever had a shipment disappear on me so I definitely wouldn't want to have gold coins declared at $1600 in that case......
Coinabul
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May 07, 2012, 06:19:00 AM
 #19

How does "uninsured" shipping work?  I'm willing to try this option but I'm a bit concerned about mail theft.  Would there still be tracking with the order?  Also, would you declare the actual value?  I think that would be a very bad idea.  The only time I ever declared a value higher than the insurance value was the only time I ever had a shipment disappear on me so I definitely wouldn't want to have gold coins declared at $1600 in that case......
You get tracking on all orders. Uninsured, I would not suggest it. We declare actual values on the invoice to get it through customs. Other than that, the packaging is very, very discreet.

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May 08, 2012, 03:16:14 AM
 #20

In regards to pricing on american silver eagles...

If you were somehow able to meet the qualifications to purchase directly from the mint, including the 25000 ounce minimum order, you would still pay 2 dollars over spot.  Then those guys sell them again marking them up even more, so it really isn't possible to pay spot for an American Silver Eagle unless you purchase it from someone who doesn't know what is going on.

Also, paying with bitcoin makes it easy to purchase for those of this on this forum and demands a slight premium.

I will say the shipping is fairly slow at times... But are you guys trying to sell the coins as soon as you receive them.  I don't plan on doing anything with mine for decades anyhow, they are just a store of value that I can give away when I die.

I have had a few successful orders now and just placed 2 orders for 5 ounces each for the sale.  The savings basically made it free shipping.

The checkout is very smooth too.

Can you buy silver cheaper... Yeah, but not with bitcoins.  This is a great way to cash out bitcoins that you don't need the cash for right now.

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