APMEX Inventory Check Trick

GMONEY1GMONEY1 Posts: 394 Silver ✭✭✭✭
Just FYI, if you want to get an idea about inventory and scarce supply at APMEX, one trick is to enter a really high number like 9999 in the 'Qty' input box, and an error message pops up saying the number of units that are available to buy if it's less than that.

For example, say you wanted to buy 100 - 1 oz gold bars from their secondary market in one order.... you couldn't do it. There are only 92 available at the time of writing.

There have been posts about transparency of available gold grams to buy "instantly" on the Goldmoney platform, so this is somewhat related. Thought you'd all find this interesting!

Comments

  • Mr_Troy_OzMr_Troy_Oz Posts: 56 Copper ✭✭
    @GMONY1 , Very interesting indeed.
    Helps put the reality of vendor supply questions into perspective with a real life example.
    Thank you.
  • mr1mr1 Posts: 312 Bronze ✭✭✭
    @GMONEY1 Yes, that is very interesting. It sure would be nice if Goldmoney would go even further with their transparency and show the how much gold is actually available for instant purchase at any point of time, and how much will have to go to "pending" status and wait for confirmation.
  • AlienMeAlienMe Posts: 53 Copper ✭✭
    @gmoney1, excellent point. Funds disappeared from my account on May 19th but status is still pending on goldmoney on May 24th :(
  • GMONEY1GMONEY1 Posts: 394 Silver ✭✭✭✭
    Just a reminder about this inventory check "trick". There are a few products that I check on a regular basis.
    Enter a high number on APMEX and if supply is tight for a particular item you get a pop-up with the Quantity available.
  • RocketDogRocketDog Posts: 408 Bronze ✭✭✭
    I have been waiting since August 14 to receive a redemption of Goldmoney gold cubes. No tracking info yet. So I'd say there are currently a shortage of cubes.
  • GMONEY1GMONEY1 Posts: 394 Silver ✭✭✭✭
    @RocketDog is Amazon selling logistics make-overs yet?

    Anything over a week (from payment clear to delivered in the states) is unacceptable imho. If there is truly a shortage, then there needs to be an announcement and/or a ramp-up in production. Have you called SchiffGold? Don't they handle these physical redemptions now?

    Also, regarding transparency with supplies, it'd be great to see "quantity available for immediate purchase" on the Goldmoney platform. On APMEX, if the quantity available gets too low for the items I want, I buy it before I can't. This might require further integration of systems between Goldmoney and SchiffGold; so this likely isn't a quick fix on the tech side. But something to consider.
  • RocketDogRocketDog Posts: 408 Bronze ✭✭✭
    @Gmoney1 I agree that would be interesting and helpful to the gold consumer. I wonder if it would jeopardize the strategic positions of major buyers/sellers of gold though? One positive affect that may occur is that a shortage of physical gold for sale or delivery should cause the price of gold to rise.
    I also wish there was some indication in my account dashboard that Goldmoney owes me "x grams for delivery" because it is a bit scary in that I get a notice that my redemption is approved (and a confirmation number) but then the gold disappears from my account, and it hasn't shown up physically yet. So it's just gone, and I just have a confirmation number and a hope that it isn't lost or forgotten. They would probably get fewer panicky calls from customers if that "redeemed but not delivered physical gold is accounted for on the dashboard".
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