ShopNumis.com - guaranteed 5 yr buy back at 100% purchase price

roadrunner

link

I ran across these guys referenced on another collectibles forum. Seems the 5 yr BB guarantee has influenced some customers to join their silver coin of the month.
Anyone every hear of these guys? Have they even been around for 5 yrs? I smell Ponzi. At least in the silver section mainly PF69/70 one ounce ASE's and commems.
Don't these exist in quantities? A lot of them are ANACS graded as well. Are ANACS PF70's worth anything over and above the base value PCGS/NGC PF68/69 coin?

roadrunner

JCMhouston

I wouldn't see how it was a ponzi scheme, just another way of scamming money off people. Sell Anacs graded coins for nearly PCGS/NGC prices and you are making a ton of money right off the bat.

Then comes the 5 year gurantee, one currently well know bullion dealer (who only accepts payment by wire transfer) got done in years ago for a similar scam. They never had the money for any of the promised buybacks, but at least they got convicted for their theft. There isn't a law against offering a buyback, so they'll go bankrupt when the run starts and people will forget all about it in a few years and they can go back into business.