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Silver coins, promised profits, and an empty vault

blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

https://fortune.com/2023/07/04/silver-dealer-robert-higgins-alleged-fraud-scheme-argent-first-state-american-eagle-coins/

Silver coins, promised profits, and an empty vault: How a silver dealer’s slow theft of investors’ precious American Eagle coins ended in a $146m fine. Investigators expected to find 1.26 million silver coins in the vault of First State Depository Company—instead they found just under 380,000.

Hope these peeps get their $$$ back. RGDS!

The whole worlds off its rocker, buy Gold™.

Comments

  • johnny9434johnny9434 Posts: 27,310 ✭✭✭✭✭

    @Crusty said:
    If you don’t hold it you don’t own it.

    This 🙂

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Unbelievable.... Millions of dollars.... I seriously doubt these people will get their money back... Cheers, RickO

  • tincuptincup Posts: 4,721 ✭✭✭✭✭

    And yet so many continue to trust in paper, kisses and promises. Happens over and over.

    ----- kj
  • tincuptincup Posts: 4,721 ✭✭✭✭✭
    edited July 5, 2023 5:49PM

    ..... perhaps unsolicited advertisements for gold mining companies? Perhaps a good deal, perhaps not? Just seems an odd place to jump in with the info..... just saying....

    ....and the advertisement seems to have disappeared....

    ----- kj
  • BAJJERFANBAJJERFAN Posts: 30,959 ✭✭✭✭✭

    When will they ever learn?

  • BAJJERFANBAJJERFAN Posts: 30,959 ✭✭✭✭✭

    @TRXGoldNerdd said:
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    Would you be willing to ship first on the promise that my payment will follow? I bet NOT.

  • BAJJERFANBAJJERFAN Posts: 30,959 ✭✭✭✭✭
    edited July 5, 2023 1:53PM

    $850 over spot for a fricken W? Say it aint so!

    https://catalog.usmint.gov/american-eagle-2023-one-ounce-gold-uncirculated-coin-23EH.html?cgid=american-eagle-coins#gclsrc=aw.ds&cm_mmc=Google--AE%2B%257C%2BSEARCH%2B%257C%2BAmerican%2BEagle--AE%2B%257C%2BAmerican%2BEagle%2B-%2BSilver-_-buy%2520silver%2520eagles%2520from%2520us%2520mint&cc=AE&gclid=EAIaIQobChMI9-vlvN70_wIVzuTtCh08kANoEAAYASAAEgJDwvD_BwE&start=1

  • GoldminersGoldminers Posts: 3,560 ✭✭✭✭✭

    @BAJJERFAN said:
    $850 over spot for a fricken W? Say it aint so!

    https://catalog.usmint.gov/american-eagle-2023-one-ounce-gold-uncirculated-coin-23EH.html?cgid=american-eagle-coins#gclsrc=aw.ds&cm_mmc=Google--AE%2B%257C%2BSEARCH%2B%257C%2BAmerican%2BEagle--AE%2B%257C%2BAmerican%2BEagle%2B-%2BSilver-_-buy%2520silver%2520eagles%2520from%2520us%2520mint&cc=AE&gclid=EAIaIQobChMI9-vlvN70_wIVzuTtCh08kANoEAAYASAAEgJDwvD_BwE&start=1

    By the end of the year the Mint will probably sell 5,000-6,000 of those burnished uncirculated gold eagles with a 10,000-mintage limit.

    If you wanted to pay an even higher premium to get a W, the 2023 proofs were available, but now are already basically sold out showing unavailable now with even higher mintages.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    And yet so many continue to trust in paper, kisses and promises. Happens over and over.

    Bingo! Couldn't have said it better.

    $850 over spot for a fricken W? Say it aint so!

    Seems as if the Mint is giving an indication of future spot gold prices.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • psuman08psuman08 Posts: 217 ✭✭✭

    I don't believe you can hold gold / silver in an IRA, May be the case here.

  • BAJJERFANBAJJERFAN Posts: 30,959 ✭✭✭✭✭

    @jmski52 said:
    And yet so many continue to trust in paper, kisses and promises. Happens over and over.

    Bingo! Couldn't have said it better.

    $850 over spot for a fricken W? Say it aint so!

    Seems as if the Mint is giving an indication of future spot gold prices.

    I read a similar article on Yahoo about the scamola where they mentioned $76 for an ASE; the link went to the Mint website which showed it was for the W version and not the normal issue which was a tad misleading IMO.

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @jmski52 said:
    And yet so many continue to trust in paper, kisses and promises. Happens over and over.

    Bingo! Couldn't have said it better.

    Were the investors in the article trusting in paper or physical?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,752 ✭✭✭✭✭
    edited July 6, 2023 11:50AM

    @cohodk said:

    @jmski52 said:
    And yet so many continue to trust in paper, kisses and promises. Happens over and over.

    Bingo! Couldn't have said it better.

    Were the investors in the article trusting in paper or physical?

    Maybe. Who knows ? Maybe they were speculators. But, people get ripped off by people, often. And there is usually a promise.

  • GoldFinger1969GoldFinger1969 Posts: 1,145 ✭✭✭✭

    The dirtbags who ran the operation need to go to jail and also have all their assets seized to make compensation.

    The people who invested alongside these clowns need to see a good shrink and have their heads examined.

  • PerryHallPerryHall Posts: 45,190 ✭✭✭✭✭

    @GoldFinger1969 said:
    The dirtbags who ran the operation need to go to jail and also have all their assets seized to make compensation.

    The people who invested alongside these clowns need to see a good shrink and have their heads examined.

    Their assets are mostly in offshore bank accounts and beyond the reach of the US government. They'll serve a few months in jail knowing that their ill-gotten gains are waiting for them.

    Worry is the interest you pay on a debt you may not owe.

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