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

tincuptincup Posts: 5,479 ✭✭✭✭✭
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

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    PerryHallPerryHall Posts: 47,532 ✭✭✭✭✭
    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

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    derrybderryb Posts: 38,556 ✭✭✭✭✭
    sounds like counter-party risk.

    "A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."

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    LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    How are Canadian prisons these days?
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
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    CaptHenwayCaptHenway Posts: 33,875 ✭✭✭✭✭
    TANSTAAFL!

    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
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    PerryHallPerryHall Posts: 47,532 ✭✭✭✭✭
    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

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    CuKevinCuKevin Posts: 1,772 ✭✭✭✭
    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
    Choice Numismatics www.ChoiceCoin.com

    CN eBay

    All of my collection is in a safe deposit box!
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    CuKevinCuKevin Posts: 1,772 ✭✭✭✭
    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!
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    jmski52jmski52 Posts: 23,959 ✭✭✭✭✭
    Neither a lender nor a borrower be - Benjamin Franklin
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    PerryHallPerryHall Posts: 47,532 ✭✭✭✭✭
    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

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    bronco2078bronco2078 Posts: 10,438 ✭✭✭✭✭




    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 .
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    johnny9434johnny9434 Posts: 32,404 ✭✭✭✭✭
    will pass on that one.
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    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
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    1630Boston1630Boston Posts: 14,156 ✭✭✭✭✭

    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, Ricko

    Bad transactions with : nobody to date

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    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

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    tincuptincup Posts: 5,479 ✭✭✭✭✭

    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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