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gecko109gecko109 Posts: 8,231 ✭
in Precious Metals
Mission aborted due to legal concerns. I was informed that the SEC might not like my idea as much as I do. I may check with them on the legality of the idea. It was meant to be an experiment with a very limited cap rather than a profitable venture. I do not know if the SEC makes exemptions for such types of experiments or not. Better to error on the side of caution for now.

Comments

  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    sounds like a fun experiment and so entry-level that even the brokest of people could afford to play. good record keeping is #1.

    Would you use gold you already have or buy some when you get the cards sold?

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  • gecko109gecko109 Posts: 8,231 ✭
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    It's an interesting idea. I can see the appeal to someone who likes record keeping and theorizing/puzzling out a program like you've suggested. It's complex, though, and contrary to how I'd want to own gold.

    Might a better idea be to buy a box of 1 gram bars and sell them to co-workers? True it's about 1/30th of an ounce compared to 1/100th. But a gram is much more widely understood, in the PM world at least. And at $50 a pop it should be affordable to all.

    You might also consider 2 pesos or even 1/10th eagles?

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    so, if gold's at $1200, you pocket $240 initially. What if gold goes to $2500/oz and everyone wants to redeem their shares? image You'd loose $10.....

    image

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    <<Many of my co-workers have begun showing an interest in gold and silver lately>>

    This is probably not a great sign for gold bulls. MJ
    Walker Proof Digital Album
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  • gecko109gecko109 Posts: 8,231 ✭
  • gecko109gecko109 Posts: 8,231 ✭
  • storm888storm888 Posts: 11,701 ✭✭✭


    << <i><<Many of my co-workers have begun showing an interest in gold and silver lately>>

    This is probably not a great sign for gold bulls. MJ >>



    ///////////////////////////////////////


    Historically, it is an ultra-bearish "sign."


    Nothing wrong with trying to educate folks about metals, tho.

    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • gecko109gecko109 Posts: 8,231 ✭
  • storm888storm888 Posts: 11,701 ✭✭✭

    "...suggestions on the design?..."

    ///////////////////////////////////


    The certs need to look MUCH better.

    The "stamp" should be the only color on the cert.

    Black on light gray is prolly best; with a colored stamp
    that has a red element and does not say "silver."

    Serial numbers need to be printed.

    Sig should be original.


    All finished certs should be photocopied before distribution.

    ...........


    Ask your lawyer:

    Do the certs constitute a security?

    Can I sell the certs in a closed/privileged group w/o
    having to register with any governmental unit or entity?

    ..........



    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
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