FAQ: Buying Silver & Gold, Bullion, Collectibles from Provident Metals

Frequently Asked Questions

General Questions
Ordering
Payment
Domestic Shipping
1. What domestic shipping options do you offer?
2. How long will it be until I receive my order?
International Shipping
Selling Your Metals to Provident
1. How should I ship my package to Provident after I have sold some items?
Precious Metals IRA

General

Q:
How do I purchase Bullion & Collectibles from ProvidentMetals.com?

A:

Provident Precious Metals has created ProvidentMetals.com in order to make our quality products available 24/7 to our customers across the country! We have designed ProvidentMetals.com with affordability, ease of use and accessibility in mind. Through "Provident Pricing" our customers can purchase Bullion Gold, Silver & Platinum in real-time as the world precious metals markets change! Simply create a User ID to shop and save your shipping & billing information for future purchases or checkout as a "guest". Either way you will enjoy low pricing, great selection, fast service, and security from start to finish.

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Q:
What other companies is Provident Metals Associated with?

A:
As an Associate Member on the Certified Coin Exchange, Provident Precious Metals trades with a network of the top 350 rare coin and bullion dealers in the world. As a provider of record, the company is proud to be an authorized member dealer with PCGS, the Professional Coin Grading Service, NGC, the Numismatic Guaranty Corporation, NCS, the Numismatic Conservation Service, and PMG, the Paper Money Guaranty Corporation. ProvidentMetals.com's numismatists, who bring a combined 100 years of industry experience to their work, are also members in good standing of the ANA, the American Numismatic Association, as well as the TNA, the Texas Numismatic Association and FUN, The Florida United Numismatists.

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Q:
Can I sell to Provident Precious Metals?

A:
Absolutely. Please call our trading desk at 877-429-8790 for more details.
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Q:
Do you charge commission on your sales?

A:
Our prices do not contain hidden fees of any kind. Similarly our traders are NOT commissioned. What you see is what you get!
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Q:
Are orders from ProvidentMetals.com taxed?

A:
Only orders of less than $1000 that are shipped to a Texas address are taxed according to Texas State Tax law. We urge our Texas customers to call us with ANY questions concerning taxes applied to their orders.
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Q:
Will you report my bullion purchase to the IRS?

A:
We are only required to report cash purchases greater than $10,000. Please call with any questions regarding cash reporting.
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Q:
What are your hours of operation?

A:
Our products are available to order 24/7 through www.ProvidentMetals.com. To speak directly to an account representative, simply call our trading desk at 877-429-8790, Monday through Thursday, 7am - 7pm or Friday 7am - 5pm Central Time.
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Q:
Do you ship internationally?

A:
We currently ship to the U.S. and Canada.
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Q:
What benefits does opening an account provide?

A:
Opening an account with us will allow you to track your orders, access your order history, enjoy a faster, more streamlined order process, receive special offers, and use promotional codes.
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Q:
What are some common conversions for a troy ounce?

A:
One troy ounce = 31.1 grams = 480 grains= 20 pennyweights
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Ordering

Q:
Can I check the status of an order?

A:
Yes. You must be a registered user to track and check the status of your order. The easiest way to do so would be through the My Account page.
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Q:
What is your return policy?

A:
We offer a refund on non-bullion items returned up to 3 days after the day you received the items. Items are not returnable if they have been removed from their original or shipped packaging. All returns on credit card orders will be charged a 5% re-stocking fee. Shipping charges are not refundable.
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Q:
Can I cancel my order?

A:
Once an order is placed through ProvidentMetals.com, you have entered into a legally binding agreement. If you choose to cancel your order for any reason, you will become subject to ProvidentMetals.com's Market Loss Policy, which will include a fee as well as the price difference between your confirmed price and ProvidentMetals.com's current ask price.
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Q:
Is there a minimum order amount?

A:
No. ProvidentMetals.com welcomes orders large and small alike.
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Q:
While placing an order I entered a coupon code and it didn't work. Why?
A:
If your coupon code is not working, either:
1. The coupon code has expired
2. You are not logged in to your ProvidentMetals.com account. To use a coupon code you must have an account and be logged in. Login here, or if you have not signed up yet, create an account now - it is quick and easy.
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Q:
Can I change my order once it has been placed?

A:
You cannot add to an order that you have already placed and we cannot combine multiple orders. You also cannot not subtract from one without being subject to our Market Loss Policy.
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Q:
Are prices locked in when I order?

A:
Yes. Once your order has been confirmed, the prices of your items will be fixed. If you chose to pay by Credit Card your order will be put into the shipping queue immediately. Personal checks, Cashiers Checks and Money Orders must postmarked within 1 business day. Bank Wires must arrive within 1 business day.
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Q:
My order's current status is "On Hold." What does this mean?

A:
If your order status is "On Hold," Provident has received your personal check, cashier's check or money order and is waiting for it to clear the bank. Most Bank Money Orders and Personal Checks clear within 5 days, but in some instances checks may be held 10-12 business days. If you are mailing in payment, we recommend sending in Postal Money Orders as they can be cleared faster and your items will be shipped quicker.
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Q:
Do you place items on backorder that you do not have in stock?

A:
Provident will occasionally pre-sell items that we do not actually have in inventory if we have received a confirmed shipping date for them from our distributor. In that case, the expected shipping date from Provident will appear in the Quick Overview section of the item's product page. This is the lone time that we will place an item on backorder. Otherwise, Provident only sells items that we have physically on hand.
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Q:
My order's current status is "Processing". What does this mean?

A:
This means that we have received payment and your order is being prepared for shipment. Typically these orders are sent within 3-5 business days, but may be later due to a delayed shipment or other unforeseen circumstances. Please contact us with any questions.
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Q:
My order's current status is "Awaiting Payment". What does this mean?

A:
This means you have selected either the wire transfer or personal check/money order/postal money order payment option and we are awaiting payment. If you selected wire transfer or money order, your order will go into "Processing" after we have received payment. For checks and money orders, your order will be placed "On Hold" after we have received payment.
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Q:
My order's current status is "On Hold". What does this mean?

A:
This means that we have received your check and we are waiting the minimum 6 business days to move your order into the processing queue.
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Q:
My order's current status is "Complete". What does this mean?

A:
This means that your order has left our facilities and is on its way to your address. It does not mean that your order has been delivered.
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Q:
Why are tracking numbers not provided on credit card orders?

A:
This is to protect both Provident Metals and our valued customers. Recently, there has been an increase in fraudulent activity in the precious metals industry and providing tracking numbers only increased the possibility of falling victim to these criminals.
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Q:
Will I receive a 1099 with my order?

A:
No. This part of the health care bill passed in 2011 has been repealed. Please contact your local Congressperson if you would like to thank them or dispute any other part of this new bill.
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Q:
What happens if there is an issue with my order?

A:
We pride ourselves on being the best in the industry and our customer's satisfaction is of the utmost importance. However, we are human and we do make mistakes on occasion. If we have made a mistake, please contact us immediately so we can remedy the problem. We also ask that you fax or e-mail a copy of the packing slip (our fax number is 877-429-8790) as well as email a picture of the label on the outside of the package so we can determine where this error occurred. It can take up to 2 business days to determine the cause of the problem and provide the correct resolution to our valued customers due to review of processes, inventory, camera footage and other proprietary security measures.
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Q:
A product I want to purchase says "Delayed" in the product name. What does this mean?

A:
The recent surge in demand has left some of our products with a "Delayed" status or a specific date in both the product title and product description. This means that the product can still be ordered, but the shipping will be delayed by the number of days specified in each individual product. The US Mint, along with the Royal Canadian mint and most private mints, have increased their lead times for delivery as they struggle to keep up with the increase in popularity of owning silver.
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Payment

What forms of payment do you accept?

Payment Type	Amount	Cash Discount (what is this?)
Bank Wire	Over $2,000	Yes
Personal Check	Orders $1-$20,000	Yes
Cashier’s Checks	Orders $1- $20,000	Yes
Money Orders	Orders $1- $20,000	Yes
Credit Card	Online orders $1-$1,500 Call during business hours to place credit card orders over $1,500 Credit card orders do not qualify for cash discounted pricing	No

If you would like to place a credit card order over $1,500, you will need to call during normal business hours of 7am - 7pm Monday through Thursday and 7am - 5pm on Friday. It will be subject to a $12.95 fee for Restricted Delivery. Restricted Delivery requires identification to be shown upon receipt of your package. These additional measures are being taken to protect our customers from fraudulent activity and to allow Provident Metals to continue to offer the most competitive prices in the industry. To avoid this fee and get a cash discount, please pay with a bank wire, money order, cashier's check, or personal check.

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Q:
Do you accept PayPal payments?

A:
We regret that Provident Metals no longer accepts payments from PayPal. In the past many of our customers enjoyed the convenience of being able to pay for their orders with PayPal. However, PayPal recently changed some important aspects of our relationship with them - we found these changes entirely unacceptable, so we decided to remove the PayPal checkout option. Our apologies to all of you PayPal payments fans. But we encourage you to remember that we still offer several great payment methods, including credit cards, bank wires, and more. Find out which payment methods we accept above.
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Q:
What happens if I do not pay in full in the allotted time?

A:
If you do not submit payment within 1 business for Bank Wire payments or postmark Personal Checks, Cashier's Checks or Money Orders within 1 business day we may, at our discretion, cancel your order and implement the conditions of our Market Loss Policy. Your account will also be frozen until all of the associated fees have been cleared.
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Q:
How do I get the wiring instructions?

A:
When you place an order with the Wire Transfer payment method, you will receive wiring instructions via email. Customers placing orders within our normal business hours will receive the wiring instructions within 1 hour of placing the order. When an order is placed outside of normal business hours (at night, or over the weekend, or on a holiday), the wiring instructions will be sent the morning of the next business day. The transfer must be completed within 1 business day of order confirmation.
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Q:
What is the Cash Discount?

A:
Cash discounted pricing is available to customers who pay with a Bank Wire, Money Order, Cashiers Check, or Personal Check. Customers who choose not to use cash-based payment methods still receive our industry leading list prices. The Cash Discounted Pricing is just another way Provident Metals is striving to bring the best prices and service to you!

Each product page lists both the cash discounted and list prices side by side. Default cart prices are displayed with the cash discount. There is also a link in the My Cart page that allows you to toggle between the Cash Discount and list prices.
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Q:
How do I qualify for Cash Discounted Pricing?

A:
It's easy! Just pay with one of these cash based methods: Bank Wire, Money Order, Cashiers Check, or Personal Check. That's it, no hoops to jump through, just pay using one of the cash based methods and save 2.99% off your entire purchase price!
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Q:
What is the List Price?

A:
The list price is the price you will pay if you choose not to take advantage of the approved cash discount payment methods. See how to qualify for Cash Discounted Pricing above.
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Domestic Shipping

What shipping options do you offer?

A majority of orders are shipped via USPS and are fully insured. All packages over $50 require a signature to be received. All packages shipped via USPS will be shipped First Class, Priority Mail, or Express Mail. All orders totaling $5,000 or more will be shipped USPS Priority Registered Mail. All packages are shipped securely in inconspicuous packaging that gives no indication of contents. Boxes are addressed from "Provident". Some oversized packages may be shipped Federal Express or UPS. If you have special shipping requirements or requests, please call and we will do our best to accommodate those needs. You may be notified by email when your package ships; however, we no longer provide package tracking numbers on credit card orders due to increased mail fraud.

Shipping rates are as follows:

Order Sub-Total	Shipping Rate
$0-$99.99	$5.95
$100-$499.99	$8.95
$500-$1,999.99	$11.95
$2,000-$4,999.99	$16.95
$5,000 +	$24.95

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Q:
How long will it be until I receive my order?

A:
At ProvidentMetals.com we pride ourselves on prompt shipping. In most cases, your order will be shipped within 3-5 business days once your payment has cleared. Personal Checks, Cashier's Checks & Money Order payments will be shipped once funds have cleared the bank, which is usually 6 business days, but may be as long as 12 business days. If you would like to pay via Money Order, we recommend USPS Money Orders as they can be cleared faster than most other "mail in" forms of payment. As we primarily use the USPS for shipping, your order will spend between 1 and 5 days in transit to your provided delivery address.
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International Shipping

Q:
Do you ship internationally?

A:
We now ship to Canada! Call 877-429-8790 today to get a custom quote from our trading desk. We do not currently ship to any other countries although we do have plans to add other countries in the near future.
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Q:
What shipping options do you offer to Canada?

A:
Most orders will be shipped either USPS or UPS. All packages over $50 require a signature to be received. All orders totaling $50 or more will be shipped USPS Priority Registered Mail or UPS. All packages are shipped securely in inconspicuous packaging that gives no indication of contents. Boxes are addressed from "Provident". If you have special shipping requirements or requests, please call and we will do our best to accommodate those needs.
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Q:
Is full value declared for the package on customs forms?

A:
Yes, Provident will always declare full value on all customs forms. There are no exceptions.
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Q:
Will there be any taxes or duties on my order?

A:
There may be duties and/or taxes on orders shipped to Canada. All duties and taxes must be paid by the customer upon delivery. Please consult a local customs broker for information about tax and duty rates.
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What methods of payment do you accept for orders from Canada?

Payment Type	Order amount
Canadian Postal Money Orders	$1-$5,000
Credit Cards	$1-$30,000
Bank Wire ($20 Fee)	Orders over $2,000

All payments must be made in US Dollars. Credit cards are accepted at our discretion and may only be used over the phone at this time. We must receive confirmation of payment via tracking number for Postal Money Orders within 48 hours. Bank wires must be submitted within 1 business day. Failure to pay in full in the allotted time may result in the cancellation of your order and implementation the conditions of our Market Loss Policy at Provident Metal's sole discretion. Your account will also be frozen until all of the associated fees have been cleared.

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Q:
What are the shipping rates to Canada?

A:
Currently all orders to Canada receive custom quotes. Call 877-429-8790 to speak to a trader and get your quote!
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Selling Your Metals To Provident

Q:
How should I ship my package to Provident after I have sold some items?

A:
You should pack your box securely with special attention to noise that may tip someone off as to the contents of your package.

Packages should be addressed to:
Provident
PO Box 325
Lavon, TX 75166

You should ship your package Priority Mail Insured and Registered. Without using these services, you assume the risk of the Post Office not covering your claim in the unlikely event that your package gets lost prior to its arrival at Provident. Provident assumes no liability for your package until it has been signed for by a Provident Metals representative. Registered Mail is the safest way to ship anything.
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Precious Metals IRA

Q:
Why would I need a Self-Directed IRA?

A:
For your future! IRAs are a useful way to save for retirement and they provide tax advantages like tax-deferred or tax-free growth depending on the type of IRA you own. An IRA is a vital addition to any investment portfolio, can supplement 401(k) accounts, and is recognized as an integral part of retirement planning.
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Q:
I already have an IRA. How can I invest in precious metals?

A:
If you already have an IRA and your current custodian will allow an investment in precious metals, you can invest now by calling Provident Metals. If your current custodian does not allow precious metals investment, you can contact one of our preferred custodians and transfer funds penalty free into a separate IRA. You can have more than one IRA.
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Q:
How do I fund a precious metals IRA?

A:
Investors have the ability to make contributions to their new IRA or roll-over funds from an existing IRA. Contributions can be made via transfer or bank wire. A direct roll-over is the simplest way to set up a new precious metals IRA if you already have an IRA or 401K. You are able to roll-over or transfer any amount without penalty since this is considered a qualified transfer. All IRA's (Standard, Roth and SEP) are eligible for direct roll-overs. Our preferred custodians are familiar with this process and can lend a hand.
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Q:
What is the most I can contribute to my IRA?

A:
Individuals younger than 50
The maximum deferred annual contribution you can make is $5,000 for individuals and $10,000 for couples.

Individuals 50 and older
The maximum contribution goes up to $6,000 for individuals and $12,000 for couples. Annual contributions beyond the maximum allowable will not receive IRA tax benefits.
Source: IRS Website
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Q:
What's the difference between a precious metals IRA and investing in an ETF?

A:
Real vs. paper assets. With precious metals IRAs you actually own the metals kept by your custodian. With an ETF you are not able to take physical possession of the metals, which are considered a paper security, unless you own more than $100,000 worth of the funds' shares. The money you have invested in an ETF can be lost if that ETF were to be valued at zero and your investment would be gone. Through the Provident Metals IRA program you are able to physically take possession of your precious metals and you own something that has never been worth zero.
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Q:
What are the costs to invest in a precious metals IRA?

A:
The costs of the metals, setup fee, annual fee, and storage fee. The cost of the metals is as you see on ProvidentMetals.com. The fees for precious metals IRAs are all charged by the Trust and Custodial Company. When deciding upon a custodian you should ask about set up fees, annual fees, and storage fees. The fees will vary based on whom you choose as custodian. The two companies we have recommended are industry leaders, are extremely affordable, and there are no hidden fees whatsoever.
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Q:
Does Provident Metals have a minimum or maximum IRA investment amount?

A:
Provident Metals does not currently have a minimum requirement for IRA purchases, nor is there a maximum amount that a customer can purchase for their IRA investment. Keep in mind however, annual contributions beyond the maximum allowable will not receive IRA tax benefits.
Source: IRS Website
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Q:
I already own some IRA accepted metals. Can I place those metals into my IRA?

A:
Unfortunately not. Precious metals purchased to be held within an IRA must be funded via bank transfer or rolled over from another Individual Retirement Account and immediately sent from the Broker (Provident Metals) to the Custodian.
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Q:
What happens when my IRA reaches maturity?

A:
It's up to you! Provident Metals will help you through the liquidation process if you wish to cash in or you can take physical possession of the metals if you like.
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Q:
What are the approved investment grade metals that can be held in an IRA?

A:
Gold
American Gold Eagle Coins
U.S. Buffalo Bullion Gold Coins
Canadian Maple Leaf Gold Coins
Austrian Philharmonic Gold Coins
Australian Kangaroo/Nugget Gold Coins
Credit Suisse / Pamp Suisse Gold Bars
Gold Bars .995+Fine that are accredited by COMEX/NYMEX

Silver
American Silver Eagle Coins
Austrian Vienna Philharmonic Coins
Australian Kookaburra Coins
Canadian Maple Leaf Coins
Silver Bars and Rounds .999+ Fine that are accredited by COMEX/NYMEX

Platinum
American Platinum Eagle Coins
Canadian Maple Leaf Coins
Australian Koala Coins
Platinum Bars and Coins .9995+ Fine that are accredited by COMEX/NYMEX

Palladium
Canadian Maple Leaf Coins
Pamp Suisse Bars
Bars that are .9995+ Fine that are accredited by COMEX/NYMEX

Other bars and rounds manufactured by a NYMEX or COMEX approved refiner/assayer or national government mint and meeting minimum fineness requirements

Collectible coins eligible for Precious Metal IRA investment
American Proof Gold and Proof Silver Eagles.
Uncirculated coins with original box and paperwork from the U.S. Mint.
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