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Canadian Bullion dealer now offering to pay you interest to store your silver and gold

tincuptincup Posts: 5,139 ✭✭✭✭✭
in Precious Metals
Hmmm.... who says that gold and silver does not pay dividends and interest? Canadian Bullion Services will pay YOU up to 4.5% per year if you allow them to store your bullion purchases for 3 years. Will also pay for a one year period but for a lesser percentage.

think you will get your bullion back after three years?? Think I will pass on this... probably a way to get bullion to allow big banks to cover their contracts.

BullionStorage
----- kj

Comments

  • PerryHallPerryHall Posts: 46,135 ✭✭✭✭✭
    Sounds like an obvious scam. Also, this is an IQ test.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • derrybderryb Posts: 36,821 ✭✭✭✭✭
    sounds like counter-party risk.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    How are Canadian prisons these days?
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • CaptHenwayCaptHenway Posts: 32,144 ✭✭✭✭✭
    TANSTAAFL!

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • PerryHallPerryHall Posts: 46,135 ✭✭✭✭✭
    Originally posted by: CaptHenway

    TANSTAAFL!





    So true! Especially when it comes to precious metals!image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • CuKevinCuKevin Posts: 1,723 ✭✭✭✭
    Originally posted by: PerryHall
    Sounds like an obvious scam. Also, this is an IQ test.


    image

    Physical delivery people. I won't open any sort of precious metal deposit account. The history is too sour.
    Zircon Cases - Protect Your Vintage Slabs www.ZirconCases.com
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    All of my collection is in a safe deposit box!
  • CuKevinCuKevin Posts: 1,723 ✭✭✭✭
    Originally posted by: CaptHenway
    TANSTAAFL!


    I still can't figure out what this means...
    Zircon Cases - Protect Your Vintage Slabs www.ZirconCases.com
    Choice Numismatics www.ChoiceCoin.com

    CN eBay

    All of my collection is in a safe deposit box!
  • jmski52jmski52 Posts: 22,849 ✭✭✭✭✭
    Neither a lender nor a borrower be - Benjamin Franklin
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • PerryHallPerryHall Posts: 46,135 ✭✭✭✭✭
    Originally posted by: CuKevin

    Originally posted by: CaptHenway

    TANSTAAFL!





    I still can't figure out what this means...




    "There ain't no such thing as a free lunch." I had to google it.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭




    I think I first saw TANSTAAFL in a book in the 70's. I don't remember if it was Heinlein or Larry Niven , I do remember there was no google to look it up on.


    With regards to this interest bearing bullion ponzi , someone with a little free time and an internet connection could probably find out who owns the company or shell company whatever it is .
  • johnny9434johnny9434 Posts: 28,330 ✭✭✭✭✭
    will pass on that one.
  • tneigtneig Posts: 1,505 ✭✭✭
    Never give a sucker and even break. There's a new one born every minute.

    They only have to get a little to make it work out. Lease it for 2 years like the government does. Don't even have to run away before 3 years.
    COA
  • 1630Boston1630Boston Posts: 13,781 ✭✭✭✭✭

    Wonder how they are doing today ? TANSTAAFL
    Boston
    MDCXXX

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I do not know how they may be doing today...However, I can assure you, they are (or are not) doing with any of my PM's....No way would I send them my gold and silver - to them or anyone, unless I were selling. Cheers, RickO

  • tincuptincup Posts: 5,139 ✭✭✭✭✭

    Like ricko, I did not give them a try with any PM's. Always have been a firm believer in... if you aren't able to hold it, you don't own it.

    ----- kj
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