P3M Refining Review

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L

lunar4772

Member
Joined
Nov 30, 2008
Messages
18
Location
Winnipeg Canada
I was wondering if anyone has sold any gold to Peter H ( P3M Refining Ltd. ) here on the forum? I have put a 34.9 gr button in the selling section and Peter H has responded. He wants me to ship it to him for assay and then payment at 90%. I have no problem with the assay I would like to know what it is. And Peter wants to know what he's buying . I am a little concerned about shipping it before being paid. Is this the way its done? ( first time for me )
I'm not trying to insult anyone just trying to be careful
Frank
 
Nice looking button, no question of purity. Who is paying for the assay.

Sell it on eBay and get paid before you ship the gold. always ship insured with a signature required on delivery.

Go to McDonalds and try to walk out the door with your burger and fries with out paying, your not insulting anyone.
 
Anyone have any examples of anyone successfully selling refined gold on ebay?
I must not be looking in the right section on ebay or not using the right search terminology??

I just didn't think that had taken off there yet. I am wrong amigos?
 
Gustavus
I'm just curious if I listed on ebay what purity would be reasonable to state? I am personally pretty sure its high quality but no proof of it. I have seen some 99.9% ers on ebay but I wouldn't buy them. (looked kinda silver to me)
Frank
 
You must also take into consideration that your EBay and PayPal fees will come off of your sell price to give you the percent of spot you receive in the end. The fees can be substantial.
 
Oz said:
You must also take into consideration that your EBay and PayPal fees will come off of your sell price to give you the percent of spot you receive in the end. The fees can be substantial.
Click to expand...

Sure we're all prejudice towards ebay, but statistics from previous forum threads indicate ebay'rs are paying well above spot.

Paying fees for a global audience, money in hand before shipping - not a bad deal in my books. Just remember to insure with a signature on receipt from the buyer. Completing your mailing manifest from Paypal gives you tracking and customs forms.

Here are some auctions to follow, Gold Bullion from refined gold on ebay.
http://tinyurl.com/lldoka
 
One of the most important things which has to be developed between a buyer and a seller is a sense of mutual respect. It doesn't come quickly in the precious metals industry but it does come with reputable people. While I have never sold metal to Peter H. I have been contacted by him concerning technical matters about refining which has lead me to believe that he is actively involved in precious metal refining and from what I can gather, acting responsibly. If you can get favorable reviews from Noxx or others it may be worth a shot. If all goes well post your comments here to make it easier in the future.
 
glorycloud said:
Anyone have any examples of anyone successfully selling refined gold on ebay?
Click to expand...

There is a guy/gail with an Ebay username of urgoldsource that has sold refined gold on Ebay. I think he has been getting about 90% spot before ebay and shipping fees. His ebay and paypal fees would be about $27 for a half OZ plus postage of let's say $5. That means he is getting about 87% spot.

This is with a fairly low number of feedback, but all positive and a claim of .999
 
I cant resist on this topic.
It happend to me that say 4 years ago I have bought considerable amount of jewellry and watches - all gold and mostly in bulk like 5 watches or 15 9ct rings etc....
Then when I saw my credit card bill and interest after few months of strugling to repay I decided to sell some of my stash. I have sold about 60% of what I bought and got all my money back.

My point is that you can get good money on ebay but at that time when I was selling I was getting paid by cheque or money order prefferably so I have skipped paypal fees.
Another very important thing is that you NEVER know who you are selling to. When I have sold nice vintage ladies wristwatch all made from 18ct gold and actually got spot price of gold what they were worth, they were about 60 years old and rare so they were worth more for collector buyer claimed and left feedback that I am cheat and liar and that part of watch was missing (glass - clearly stated on auction). She demanded discount which I refused and asked her to ship them back to me and that I will refund her. She did not and was sending emails to ebay that I am wrong and to ban me from there. Ebay asked her to accept refund and ship item back but she refused - some people will try their best to con you and you are going to lose time and get "bad taste in mouth"

From your post I noticed that you stated that you want about 90% of spot. He reacted offered you 90% but as you dont know him, he dont know you so he want fire assay as he do not want to buy cat in the bag.
There is no refinery or gold buyer who will pay you upfront all of them want to test your material first. That is the way as it is. You can get money upfront when using ebay but you can end up dissapointed.
What if buyer on ebay will claim that you have send him brass button, ask paypal for refund he will get money back and he will send you brass button back instead of your gold? There are risks in every business with strangers. On this forum you have at least option to check person who wants to have deal with you and ask others for feedback. He pointed to Noxx as they did some deal together and you have place to go for references. I think that you can take Noxx and his opinion about Peter as safe bet.
 
I would like to thank everyone who has replied. The information has been very helpful. I will wait and see if Noxx replies and probably go with his advice. I don't blame Peter H for wanting to know what he is buying thats just good business.
Frank
 
Yes ! Sorry, I was on vacation these last days in Tadoussac...

I dealt with Peter H. (lately P3M Refining Ltd.) a few times in the past. I must say that what you get is a very professional service.

It is standard procedure to ship first then to get the assay result. Very fast payment as well. In fact, when I need money quick to buy more gold, I sell to him.

Well, go ahead and you won't be disappointed.
 
Noxx said:
Yes ! Sorry, I was on vacation these last days in Tadoussac...

I dealt with Peter H. (lately P3M Refining Ltd.) a few times in the past. I must say that what you get is a very professional service.

It is standard procedure to ship first then to get the assay result. Very fast payment as well. In fact, when I need money quick to buy more gold, I sell to him.

Well, go ahead and you won't be disappointed.
Click to expand...

thanks for the kind words Noxx

thank you for your business, I also want to thank you for the creation of this forum!
Lots of great info and lots of great members.
 
Well the transaction has been completed with Peter H ( P3M Refining ). I feel Peter dealt with me very honestly and professionally.
The assay results came back at 99.43 % for the button which is nice to see and I am sure is spot on. Payment was received very quickly once I sent him confirmation of his offer.
I would definitely deal with him again and would recommend him to other members who are looking for a buyer for their gold. The only thing I regret is I can't play with the little button anymore. I'll just have to make more. I'm going to keep trying for that 99.9 report from him.
Thanks to all the members who helped guide me through my first sale. And thanks Noxx for this forum and the advise.
Frank
 
I want to let know all forum members that I had done deal with P3M refining. I bought gold sovereigns from Peter. Transaction was perfect, professionall and I can say that I will be happy to deal with P3M again and with no fear. Also when considering distance from Canada to Ireland delivery was extremelly fast and items professionally packed. Thank you again Peter.
 
Hello Ladies & Gents,

Its time to update you on the latest news.
P3M Refining is being shut down, as myself and former partner didn't see eye to eye.

I have transferred our clients and capabilities into the http://www.ediinc.ca group, and created a separate division handling E-Scrap recycling, Catalytic Converter Recycling and of course Au, Ag, Pt, Pd Refining. This division is going under EDI Refining http://www.edirefining.com / http://www.edipreciousmetals.com

This change is for the best, In many aspects. It only makes my business stronger.

So from former P3M Refining Ltd, We are now servicing under EDI INC.

All the best,
Peter H
 
Peter / P3m / EDI refining sold me a large 18k chain that turned out to be 14k. He refused to make it right with me. I would recommend staying away from this refinery AT ALL costs. They simply CAN NOT be trusted. They are unprofessional, unreasonable, uncommunicative and... blatant liars... If you would like more details about my previous transaction, I would be glad to share them, please email me at apdigs8 at gmail dot com. Thanks.
 

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