St. Eligius Coin
P.O. Box 213
West Farmington, ME 04992
207-778-3545
sales@steligiuscoin.com
If you do not have a primary e-mail client, you may send us a message online.
P.O. Box 213
West Farmington, ME 04992
207-778-3545
sales@steligiuscoin.com
If you do not have a primary e-mail client, you may send us a message online.
Scams and canceled orders
We can’t accept credit card orders for several reasons. One is that our profit margins are so low that our credit card fee will offset almost all of the profit. Scammers use credit cards frequently, also. They may be using a stolen card. Also, they can buy bullion with a legitimate card, and then do a charge-back once they receive it. They would have the bullion which we paid for.
We can’t accept a personal check, either. Scammers can write a check on a good account, and then close the account before the check is processed. Another recent scam is that people will steal newly-ordered checks out of mailboxes. They write a check, which then clears the account. A few weeks later, the owners of the accounts realize that a check was written for something they didn’t buy for themselves. In that case, the bullion dealer is forced by law to give the check owner a refund, while the scammer keeps the bullion.
While we do accept bank checks and money orders, we need to allow time for them to clear, because scammers will counterfeit those means of payment.
Canceled orders are the reason why we need to have money up front for bullion deals. Someone may ask to order many thousands of dollars worth of bullion. We would have to buy it to meet the order. Then, maybe if precious metals prices fall before we get paid, the order could be canceled, and we would be left with the bullion. If prices are determined after we receive cleared payment, we at St. Eligius are protected in case the market falls. But you, the buyer, would be able to take advantage of the lower price. You would be able, if you so choose, to receive a refund of your money in case the market takes a big jump while funds are waiting to clear. If you do cancel an order, we will refund your money by check only.
We can’t accept credit card orders for several reasons. One is that our profit margins are so low that our credit card fee will offset almost all of the profit. Scammers use credit cards frequently, also. They may be using a stolen card. Also, they can buy bullion with a legitimate card, and then do a charge-back once they receive it. They would have the bullion which we paid for.
We can’t accept a personal check, either. Scammers can write a check on a good account, and then close the account before the check is processed. Another recent scam is that people will steal newly-ordered checks out of mailboxes. They write a check, which then clears the account. A few weeks later, the owners of the accounts realize that a check was written for something they didn’t buy for themselves. In that case, the bullion dealer is forced by law to give the check owner a refund, while the scammer keeps the bullion.
While we do accept bank checks and money orders, we need to allow time for them to clear, because scammers will counterfeit those means of payment.
Canceled orders are the reason why we need to have money up front for bullion deals. Someone may ask to order many thousands of dollars worth of bullion. We would have to buy it to meet the order. Then, maybe if precious metals prices fall before we get paid, the order could be canceled, and we would be left with the bullion. If prices are determined after we receive cleared payment, we at St. Eligius are protected in case the market falls. But you, the buyer, would be able to take advantage of the lower price. You would be able, if you so choose, to receive a refund of your money in case the market takes a big jump while funds are waiting to clear. If you do cancel an order, we will refund your money by check only.
