Why use Lone Star Bullion instead of my coin shop?
It’s simple. Coin shops have multiple employees, building maintenance, and many other large overhead expenses. In addition to this, Lone Star Bullion uses a hedging system, which allows us to charge consistent premiums regardless of rising or falling silver and gold prices. We directly buy and ship from some of the nation’s largest distributors and are able to leverage these relationships to get you some of the best prices available. In Houston and San Antonio specifically, Lone Star Bullion’s prices are typically $1-$3 cheaper a coin, which is a savings of over 3-10%!
What gold or silver should I buy?
We believe that decision should be up to you. If you are a first-time investor or need help choosing what kind of gold or silver to purchase, contact us via phone or email. At Lone Star Bullion, we believe in a goals based approach to sales. We take your investment goals, timeline, and circumstances and advise you on the quantities and types of metals to purchase. Having said that, we do believe that silver is a much strategic buy than gold.
Will the government confiscate gold or silver?
We don’t know, and honestly, neither do you. Here are a few things we do know: (1) When FDR required the American public to turn in gold, most experts believe only a small minority actually did turn in their gold; (2)it would nearly impossible for the government to locate, much less confiscate a commodity that has been freely purchased, sold, and traded for decades; and (3) if the government did confiscate precious metals, we have no idea what they would confiscate, and what – if any – coins or bars they would exempt from confiscation.
What is “bullion” and how does it differ from numismatic coins?
“Bullion” is a term that refers to precious metals which are made, bought, or sold for the value of its metal content, not a special historical, collectable or numismatic value. While some bullion will carry a small premium over other forms of bullion (e.g. 1 oz coins versus 100 oz bars), the idea is the same – the coin or bar simply represents the weight and purity of precious metal, which was stamped on the surface of the metal.
Do you buy or sell numismatic coins?
No we don’t. And we don’t believe they are a good investment for the vast majority of the investing public. In most cases we recommend selling existing numismatic coins and reinvesting in bullion. Lone Star Bullion has a network of different specialists that relate to the precious metals industry including locksmiths, safe specialists, security consultants, numismatic specialists, and many others. While we do not have an in-house numismatic specialist we can recommend an independent specialist.
The “Behind the Scenes” story of Lone Star Bullion…
“As a private silver investor myself, I enjoyed investing in silver, but was frustrated by the premiums and lack of expertise at local coin shops in Houston and traditional investment firms. I wanted to do business with someone I could trust and who could provide competitive rates, exceptional customer service, and competent advice. Since I couldn’t find what I was looking for, I decided to start my own company in Houston. My goal was to not simply be a company where you can buy precious metals, but your one-stop shop for all your precious metals needs. I wanted to start a company that provided competitive pricing by leveraging millions of dollars in purchasing power with relationships to first-line distributors, competent knowledge of both the precious metals industry and the broader economy, and finally exceptional customer services. We now buy and sell almost every form of precious metal bullion, serve clients all across the United States, and have local operations in Houston and San Antonio.” - Josh Renfro, President and Founder of Lone Star Bullion
How do I order from Lone Star Bullion?
Buying from Lone Star Bullion is simple and easy!
- Call us at 713-855-2039 to set up an account with your name and shipping address.
- Place your order over the phone.
- Once you place your order, you will receive an initial invoice from us detailing your order.
Are there any extra or hidden fees?
No. We like to keep things simple. When you receive a quote from us on the phone, the quote will include all fees, shipping charges, insurance etc.
Is my price locked in once I confirm my purchase over the phone?
Yes, once you give your verbal confirmation on the phone to confirm a transaction with Lone Star Bullion – regardless of the amount – that transaction is final and is legally binding between you and Lone Star Bullion. You will then receive an order confirmation via email, usually within 1-2 hours.
Lone Star reserves the right to refuse an order when the confirmed price is incorrect, due to computer-related problems or pricing error. Further more, we reserve the right to refuse or cancel any order deemed questionable, suspicious or of significant risk to Lone Star Bullion regardless of payment method and price confirmation.
How soon do I pay after ordering?
You must ensure your payment to Lone Star Bullion is dated within 24 hours of your order confirmation from Lone Star Bullion. You must ensure Lone Star Bullion receives your funds within 5 business days for orders under $25,000, within 3 days for orders over $25,000, you must send a bank wire for all orders over $100,000 within 48 hours, except by written exception from our sales department.
What is your minimum/maximum order?
Our minimum order is $1,000 for our clients. We recommend buying as much as possible at one time to reduce the per-unit shipping cost and received the most competitive pricing, but we will sell as little as $1,000 of silver or gold at a time. Our trading department may place a temporary maximum order size at their discretion.
What types of payment do you receive?
We accept bank wires, cashiers checks, and in some cases, certified checks and cash. All purchases over $100,000.00 must be made with bank wire unless you obtain a written exception from our sales department. Our sales department also retains the right to make final decisions on what payment type we will accept on any individual order under $100,000.00.
Lone Star Bullion will hold all checks or monetary instruments until they have cleared. This process can take up to 5-10+ days with checks; thus, bank wiring is always recommended for fastest shipment.
How do I obtain Lone Star’s wiring information?
For clients paying by wire, the order confirmation you will receive after placing an order will contain wiring instructions.
What should I buy: Gold or Silver?
Here at Lone Star, we believe silver is an especially strategic investment in the current markets, however there are many various factors that play into the decision of every investor. If you are a first-time investor, or need help choosing what kind of gold or silver to purchase contact us at 713-855-2039.
What information do I need to start an account?
We need your full first and last name, shipping address, phone number and email address. You must provide your physical address, not PO Box. Fedex and UPS will not deliver to a PO Box. (Note: we email our order confirmations following your purchase with us. If you do not have an email address, please ask our trading department about having your order confirmation faxed to you instead.) Our sales department retains the right to request additional identification from clients at their discretion.
What do you use my information for?
Can I cancel my order?
All orders, once placed over the phone, are final and legally binding contracts between Lone Star Bullion and our clients. For any questions regarding your order, please contact us.
Can I change my order after I confirm it on the phone?
In most cases, no changes are allowed. We recommend deciding what you want to purchase before you buy, not after. In a few limited cases, we may allow some changes to an order, subject to any applicable change fees and market fluctuations.
What if I don’t receive my order confirmation?
Please allow for 1-2 hours to receive your order confirmation in most cases. If you still have not received the confirmation email, check your spam filter. Occasionally, some email services or internet security programs will categorize our confirmation emails as spam. If you still cannot find your email, contact us to confirm that we have your correct email address on file or to arrange for your order confirmation to be faxed to you instead.
Can I pick up my order in person?
Contact us regarding the personal pick-up of your order in the Houston and San Antonio, TX.
Do you report my purchase of precious metals to the IRS?
Lone Star Bullion is not currently required to report our sales transactions to the IRS or any other federal, state or local agencies unless you fall under the Form 8300 requirement for cash transactions in excess of $10,000.
How do I track the spot price of precious metals?
There are a variety of different sites tracking the price of gold and silver. Because the price of precious metals is traded around the world by a variety of international markets, the price will fluctuate constantly, even after the New York Market has closed. Prices are generally changing from 6PM Eastern Time on Sunday to 4:30 PM Eastern Time on Friday. To check the most recent spot price, go to http://www.livesilverprices.com or http://www.kitco.com/market/
Selling to Lone Star Bullion:
What products does Lone Star Bullion buy?
Lone Star Bullion will generally buy back anything we sell to our clients. In addition, we will buy other forms of gold and silver bullion on a case-by-case basis. The price and premium will vary, so call us at 713-855-2039 for a quote.
How do I sell to Lone Star Bullion?
Call us to lock in a price on the precious metals you have for sale. Once confirmed over the phone, we will follow up with an order confirmation via email. You must return proof of shipment via fax or email within 24 hours of receiving your order confirmation.
What is a valid proof of shipment?
The copy of your USPS receipt with the package number serves as a valid confirmation of shipment.
What form of shipment should I use when shipping to Lone Star Bullion?
We require that you ship through the US Postal Service. We HIGHLY recommend insuring for the full value of your shipment. Lone Star Bullion will not accept responsibility for lost, damaged, or mis-labeled packages. It is your responsibility to properly ship and insure your package.
What is Lone Star Bullion’s address?
We will provide our address on the order confirmation we email you following our confirmed purchase of your bullion.
What is the minimum/maximum Lone Star Bullion will purchase?
We have no minimums or maximums that Lone Star Bullion will purchase. Pricing, trade terms, and purchase amount is subject to the sole discretion of our sales department.
When and how will I receive payment?
We typically initiate payment within 1-2 days of receiving your shipment and verifying its contents. We will then mail you a check in first class mail. You may upgrade to overnight delivery for $19, or for transactions over the size of $50,000.00, we will overnight the check or bank wire upon request at no additional charge.
Can I cancel my order?
All sales and purchase orders, once placed over the phone, are final and legally binding contracts between Lone Star Bullion and our clients. For any questions regarding your order, please contact us.
What if I don’t send in the metals after I confirm my price?
Once you confirm your sale with Lone Star Bullion over the phone, that order becomes a legally binding agreement between you and Lone Star Bullion. If you do not ship the precious metals to us as agreed, your sale will be cancelled and you will be liable for the difference in market price plus any penalties associated with the cost of our recourse against you.
Can I drop my metals off in person?
Contact us regarding the personal drop-off of your bullion in the Houston area.
Does Lone Star Bullion issue a 1099 when we purchase metals from our clients?
Only when required by law to do so. As of June, 2010, we are required to issue clients a 1099 when selling the following items to us within a 24 hour period: 1099-Required-List.pdf
Shipping and Delivery
What are Lone Star Bullion’s shipping charges?
For all silver orders of 500+ oz, and all gold orders of 20+ oz, shipping is free. In every order, all shipping charges will be included in the final quote you receive from Lone Star Bullion.
How soon will my order be shipped?
In most cases, orders ship within 1-3 days from receiving cleared payment. Our sales department will notify you if we expect further delays due to backordered product or delays in minting or manufacturing.
What shipping method will Lone Star Bullion use when shipping my order?
Lone Star Bullion uses a variety of warehouses and shipping carriers to keep our costs as low as possible, and thereby keeping our prices low for you, our client. Most packages are shipped USPS Priority Mail, UPS, or FedEx. We fully insure each of our packages, and you will be expected to sign for the package upon delivery.
Is shipping safe?
Yes. We take responsibility for the package up to the point of delivery to the address you provide. Once it has been signed for at the address you provide to us, it is your responsibility.
Lone Star will not accept responsibility if you have left instructions with any carrier or delivery service to leave packages unattended for you without the need for a signature. Or if you have given them instructions to leave your package with someone else such as a building manager, secretary, neighbor, or drop-off location such the UPS Store, Mailboxes, etc., your package will not be insured!
What if I don’t receive my package?
Contact us if you don’t receive your package within the expected time frame (in most cases, you should receive your package within 3-7 days after we receive cleared payment from you).
Can I get a tracking number for my package?
Not all carriers provide detailed transit and tracking information on packages. Feel free to contact us to get the most recent information available on your shipment. In some cases, we may be able to provide a detailed tracking number.
What hours is Lone Star Bullion open?
Lone Star is normally open from 8-5PM (Central Standard Time) Monday through Friday. You are welcome to call after these hours, and if no one picks up, you can leave a message. In some cases, Lone Star will conduct business in the evenings and on the weekends. We are never open on Sunday, and will not answer/return any phone calls or emails on Sunday.
Can I place an order in any other way than over the phone?
No. In most cases, only phone orders for gold and silver will be accepted. If you will be unable to place an order over the phone, you must call us first to discuss alternate methods of placing an order.
I’ve called several times and still can’t get through. What should I do now?
We’re sorry. Sometimes high call volume or a special appointment will keep us from receiving all our calls at once. Please leave a message with your name and phone number and we’ll get right back with you. It also helps to email us your name and phone number to info@LoneStarBullion.com.