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HOW TO SELL BULLION TO WCM
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BUYBACK PROCEDURE
1.
Minimum transaction size must be $5,000 or more.
2. Please email
us at deals@goldsilverbullion.com
with a list of the bullion items you wish to sell and we
will provide you with bid indications (not final price
locks) as to how we would bid on your items should you sell
them to WCM. Feel
free to call us at (877) 855-9760 to discuss a potential
transaction, but we want your list in writing. Please include your full name, mailing address for payment,
and daytime telephone number in your email.
3. Prices per
item are not locked until client faxes or emails copy of
proof of shipment via USPS Registered Mail to the designated
distributor for WCM. Currently,
Registered Mail is the only method a retail client can use
to ship bullion fully insured within the U.S. WCM will provide the appropriate distributor's shipping address based on the
specific bullion products being sold to WCM.
WCM fax number is:
(800) 858-9324.
DO NOT SHIP ANY PRODUCT TO WCM'S VIRGINIA ADDRESS;
product is only to be shipped to the appropriate
distributor's warehouse address, usually in CA.
4. It is the
responsibility of the client to properly package items for
sale per USPS Registered Mail specifications.
The outside of the box must be clean for ink stamping
by Post Office, use of grocery bag craft paper one method,
and all tape must be stampable. Fiber reinforced paper tape available at Post Office or
Staples/Office Depot is recommended.
Consider the USPS Flat Rate Box, two sizes, at the
Post Office, filling out separate Registered Mail slip with
shipment details plus insured amount.
Suggest insuring product for current bid price per
item shown on WCM websites. Weight limitation of 75 pounds per box and insurance
limitation of $25,000 per box (additional can be purchased,
however).
5. After
sending Registered Mail receipts to WCM, email us at deals@goldsilverbullion.com
with your Purchase Order request, confirming the items you
wish to sell. Upon
receiving your email, WCM will call its distributor(s) to
lock the Purchase Order prices for your transaction.
A WCM Purchase Order will be issued as an MS Word doc
or Adobe pdf file attachment and sent by return email using
the client address provided in Step #2.
6. Shipment
progress can be tracked on the USPS website at www.usps.com
to some extent, although updating is spotty.
Upon receipt at the designated WCM distributor,
shipment will be checked for condition, product, and count.
WCM distributors cut and mail checks to Wexford
Capital Management usually the next business day after
receipt. Once
WCM receives the distributor check, it will mail the WCM
Purchase Order amount to client the 4th business
day after WCM receipt.
Distributors at this time will not wire funds to WCM
for Purchase Orders. Requests
for wiring of payment by WCM to client will incur a $25 wire
charge.
7. WCM will
keep you apprised of transaction progress via email, and
don’t hesitate to call at (877) 855-9760 with any
questions. We
make two-way markets in precious metals.
David W. Young, President
Wexford Capital Management
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