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Topic: Anyone using BTC to buy Silver/Gold on Coinabul? (Read 14583 times)

sr. member
Activity: 479
Merit: 252
You, Me, and BTC: *Your* Liberty & Bitcoin Podcast
September 06, 2013, 12:10:52 AM
I sell silver for BTC if anyone's interested. Brand new 1oz buffalo rounds.  I can even beat Coinabul's lowest price if you buy 20 or more.  PM me if interested.  I have ratings on the Bitcoin-OTC channel if you want to check, or you can just find me there.
newbie
Activity: 34
Merit: 0
I did finally receive my order...had to make a special trip back to Florida to get it from the post office which thankfully hadn't sent it back yet.  Probably cost five times the value of the order just in Diesel fuel.

The order was quite well packed; each coin in its own little plastic sleeve, the whole lot in a zipper bag wrapped in a customs declaration (??) wrapped in bubble wrap and packing tape, then stuck in a padded mailer.  I doubt that running it over with my 40 ton truck would've harmed the contents.  So on that count at least I was somewhat impressed.  The coins themselves were exactly as advertised, brilliant uncirculated condition.  They're gorgeous.

What pisses me off to no end is the insane wait time and piss poor communication.  I demand results, not excuses.  Yes, mine was a very small order; only seven silver Eagles.  But when the charge for shipping works out to over US$30, and it's shipped plain old first class from California to Florida, and they take almost three weeks to do it...yeah I'm slightly torqued about it.

Never again.
hero member
Activity: 630
Merit: 500
Amagimetals. They are fast and professional
newbie
Activity: 21
Merit: 0
just keeping this thread updated with coinabul communications for others who might be in the same situation. Jay can sometimes be reached on bitcoin-otc, his handle is coingenuity.

Did a little digging, coinabul is run out of a house in Cheyenne WY.  http://goo.gl/maps/g6psL  Gotta wonder about the 321 area code...wait, sat phones all have that area code.

Pretty sure this is a scam.  Ship just enough orders to have a semblance of credibility, pocket the rest.  Or delay orders long enough to turn a major profit when prices shift.

Either way, I for one will never use their service again.  Good news is, given my line of work it won't be long until I'm in Cheyenne myself.

owner-name: BTC SOFTWARE ENGINEERING
owner-street: PO BOX 235985
owner-city: Encinitas
owner-state: CA
owner-zip: 92023-5985
owner-country: US
owner-phone: +1.2135997285
owner-fax:
owner-email: [email protected]
legendary
Activity: 2282
Merit: 1050
Monero Core Team
They are using the MTGox prices for BTC / USD so i would expect a shipping delay comparable to that of getting USD out of MTGox. Otherwise there would be a really attractive arbitrage opportunity in buying gold there.
newbie
Activity: 21
Merit: 0
I placed an order with coinabul for 4 ounces of silver because I had a fair experience with them in 2011 and I didn't think to check his current reviews. I placed the order seven days ago and haven't heard anything since. My hope is that he is just slow and non-responsive. I'm not in a rush to receive the silver, but I do expect him to ship it!
Good luck man. It's been almost two months since I put my order in and nothing has come in yet. It has been a very frustrating situation because the purchase was a big one. Fuck these guys.
member
Activity: 71
Merit: 10
I placed an order with coinabul for 4 ounces of silver because I had a fair experience with them in 2011 and I didn't think to check his current reviews. I placed the order seven days ago and haven't heard anything since. My hope is that he is just slow and non-responsive. I'm not in a rush to receive the silver, but I do expect him to ship it!
newbie
Activity: 21
Merit: 0
Did you ever get your order, truckingeek?
newbie
Activity: 34
Merit: 0
Well they finally shipped my order on July 29th...from Encinitas CA.  With a signature required.  To my house in Florida.

This is really super extra awesome since as I've mentioned I'm a long-haul truck driver, currently sitting in Dallas TX, and will not be home again until probably the end of August.  I really hope they hold the package at the post office because otherwise it'll be sent right back where it came from.  I'll most likely have to pay to have it shipped yet again, and given the way things are going I wouldn't be surprised to have to repeat this cycle a couple times.
newbie
Activity: 21
Merit: 0
It's been 2 weeks since I sent payment and still no tracking number. They don't like shipping to PO boxes and that's the reason they gave for the delay.

For what it's worth they have been pretty communicative though.
Update: 1 month and my order still hasn't even been sent yet. These guys are full of excuses, every week it's something different.

Quote from:  Coinabul - Alessandra
All major bitcoins businesses have been boycotted by most major US banks. So at the moment its quite difficult to find an institution or person that will exchange bitcoins. At the moment we are working on a solution.

It sounds like they don't like to give refunds either:
Quote from:  Coinabul - Alessandra
To be honest it's taking a few weeks to process refunds.
...
I'll ask [Jay] again but most likely it will take  few weeks ... We haven't refunded some customers who have been asking for a few weeks.
legendary
Activity: 1918
Merit: 1570
Bitcoin: An Idea Worth Spending
Did a little digging, coinabul is run out of a house in Cheyenne WY.  http://goo.gl/maps/g6psL  Gotta wonder about the 321 area code...wait, sat phones all have that area code.

Pretty sure this is a scam.  Ship just enough orders to have a semblance of credibility, pocket the rest.  Or delay orders long enough to turn a major profit when prices shift.

Either way, I for one will never use their service again.  Good news is, given my line of work it won't be long until I'm in Cheyenne myself.

https://bitcointalksearch.org/topic/2710-thomes-ave-cheyenne-wy-82001-48022
newbie
Activity: 55
Merit: 0
Why does anyone still buy from Coinabul? This thread and Coinabul's trust rating should speak for itself.
newbie
Activity: 34
Merit: 0
Sounds more like it's the attorney who registered all those corporations. Or some tax fraud and/or money laundering.....
legendary
Activity: 3052
Merit: 1031
RIP Mommy
Selected businesses at this address:
Cash Medical Management Inc‎
ChampionWebVideo.com‎
Cornerstone Consulting Services Llc‎
Desert Moon‎
Ingenuity Marketing Inc.‎
ITA Enterprises Inc‎
JHN Design LLC‎
Okeechobee Trading Corporation‎
Premier Investments LLC‎
Premier One Enterprises Inc‎
Prosound Performance Music‎
Secure Inc‎
Smallbiz Express‎
WILLOW TREE UNIVERSAL LLC‎
newbie
Activity: 34
Merit: 0
Did a little digging, coinabul is run out of a house in Cheyenne WY.  http://goo.gl/maps/g6psL  Gotta wonder about the 321 area code...wait, sat phones all have that area code.

Pretty sure this is a scam.  Ship just enough orders to have a semblance of credibility, pocket the rest.  Or delay orders long enough to turn a major profit when prices shift.

Either way, I for one will never use their service again.  Good news is, given my line of work it won't be long until I'm in Cheyenne myself.
newbie
Activity: 34
Merit: 0
I put in an order the evening of July 15th and paid in full before the confirmation email even hit my gmail. Nine days later and my order (for which I paid btc0.25 for next day shipping!) still isn't here. Emails go unanswered.

I am a long haul truck driver and will be leaving for a month or more on Friday or Saturday. If I don't have my order by then, I may as well kiss it goodbye as it'll be sitting in my mailbox or on my porch while I'm gone.

Seven ounces of silver.  Yeah, I'm a little pissed.
hero member
Activity: 518
Merit: 500
Just checking to see if anyone has had success with Coinabul, the btc / PM exchange.

Would you recommend them, what are your experiences like purchasing from them.
Their spot prices seem a bit high....?

Are there other ways to buy silver/gold with BTC aside from Coinabul? 


I have used Amagi Metals and really like them.  I haven't used Coinabul but heard their prices were higher...but easy to compare the two sites and others. 
newbie
Activity: 21
Merit: 0
It's been 2 weeks since I sent payment and still no tracking number. They don't like shipping to PO boxes and that's the reason they gave for the delay.

For what it's worth they have been pretty communicative though.
sr. member
Activity: 259
Merit: 250
Thanks for the info Coinabul. I can't find this information on your website. Although when i submited my order there was 2 options to choose. First was the  insured express delivery the other is without insurance delivery. This is what is on your website:

Coinabul Insured Express service makes it easy for you to get your bullion. We automatically determine the fastest insured shipping method for your items and destination. This is the kind of shipping you will get:

Next Day Express
on domestic orders $1,000 or more

3 day Standard
transit on domestic orders $1,000 or less

2 day Express service
on international orders $1,000 or more

5 day Standard
on international orders $1,000 or less!


Maybe i am checking a wrong link..

Anyways, I am happy with your service. And i am happy to hear you improved on the delivery time too. I am measuring it now Smiley More than happy to give good news on the forum once i got my 2nd package.
Those are the shipping times; processing time equals the time it takes to get from our secure warehouse to our shipping facility.

Hope that helps! Glad you're happy with the service!

Thank you so much for being a Coinabul customer!

-Jon

I have made many efforts to contact you via phone and via email. This is from a previous post of mine:

I ordered a very large amount of silver coins and paid for express next day shipping. It took 23 days to receive my silver coins, and during that time I never received a single email or call from Coinabul regarding the delay. The only contact from them were automated emailed regarding the order- despite me emailing support as well as leaving a voicemail every 7-10 days to see what the delay was about. After several months, I am still attempting to get a refund for the additional cost of express shipping- as it was a service that they clearly failed to provide.

The only positive thing I can say about Coinabul is that the coins were packaged extremely well and they arrived in perfect condition.

I have requested a refund on the shipping, as I paid for insured next day express (and my order was well over $1,000 worth)- yet it took 23 days without any contact from Coinabul explaining the extreme delay. There was 0 mention when checking out that "next day express" would actually not be next day, or 23 days. The fact I paid extra for this shipping and have not been refunded for months is extremely disappointing.
newbie
Activity: 21
Merit: 0
I placed an order with these guys last night. Jay told me told me via telephone that it would ship within a week.

We'll see how it goes...
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