Mar 6, 2014

Provident Metals: No longer recommended

In the past year, I've suggested a few different sources for precious metals to readers here. Among them were APMEX, Provident Metals, Montana Rarities, and Monarch Precious Metals.

You'll note that Provident is not made hot above. I can't recommend them anymore, thanks to a business decision they made which I find incredibly distasteful. Late last summer they released the first of their "Zombucks" silver rounds, with the promise that each coin would be a limited-run item, minted only to fill orders, and never minted again. I ordered a few extra of the first two designs in the vague hopes that they may maintain some collectible value in the future.

Well, they broke that promise last month and are re-striking the rounds in "proof" versions with a higher price tag.

To hell with that. If you need silver, gold, or other precious metals, look to one of the hot links above. APMEX has a phenomenal selection but tends to run a slightly higher premium - with the customer service to match. Highly recommended. Montana Rarities has a wide selection in smaller quantities and is friendly as heck. Monarch has some beautiful unique items. There's also Silvertowne, which is great for onesie-twosie buying with their free-shipping promos.

I just emailed them and let them know they've lost a customer permanently; there are plenty of other dealers who are more than happy to take my money and provide beautiful shiny things. Below is a copy of the letter I sent:
Dear Provident:

I've ordered several times from you over the past year. I was excited by the Zombucks series and had every intention of completing a set of silver and set of copper tubes... until you released the new "proof" after initially advertising the rounds as limited-run never-to-be-struck-again items. I'm a regular over on /r/silverbugs - which I know your company has a presence on - and the bad taste you've created there is tremendous.

I'm sure you can look at my order history (all were placed using this email address) and note that I'm not a large-volume customer - perhaps the loss of that business means nothing to you. I'm also sure you know that word-of-mouth referrals are often a company's best source of new customers, and I've referred several friends to your company over the past year. I've made several references to your site on my blog, which doesn't have a huge following but does tend to bring 30-50 unique views daily.

No more. No more orders, no more referrals. I'll be spending my money with APMEX, Monarch, and NWT Mint. I'll be copying this letter verbatim to my blog.
  (real name)

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