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FIB - Scams 101
Re: Speaking as someone who invests in coins...
Posted By: Angel Optikarm In Response To: Speaking as someone who invests in coins... (Mel. White)
Date: Tuesday, June 8, 2010, at 8:51 a.m.(pst)
Depends what you mean by 'scam'- it's used so loosely around here, it's lost all meaning.
A scam, by definition, is a false offer or enterprise with the only purpose being to extract
money without providing value.If that's what you're asking, then silver snowball is not a scam. It provides a product of value. HOWEVER,
the markup is rather high at about 100%. Spot price of silver today is $18.30; their subscription cost is $36.50 per coin per month...2x its silver value.If you could manage to find 100, you would get $937 per month (51 coins)(in silver at today's spot price)- your cost would be $36.50 plus marketing costs- not very much. And ultimately.
>> >> month. If I were to buy just 1 Silver coin a month on my own
>> it would cost
>> >> me about 22.00 dollars. With Silver snowball I pay 42.50 for
>> 1 silver coin
>> >> with shipping and that's all. This may sound crazy since I
>> pay double but
>> >> it's not. now I have 6 members that signed up under me and
>> they buy 6
>> >> coins in a month which means I will get 3 coins plus the 1 I
>> bought total
>> >> 4 in the mail at no additional cost which only costs me
>> 42.50.>> This has to be one of the stupidest scams around.
>> For $10 more, you can buy the 2009 United States Mint Silver Proof Set
>> from the US mint. There's 18 coins (not one... so the average cost is )
>> and this is a silver proof set:
>> http://catalog.usmint.gov/>> So... bought from the mint that's $42.50 for one coin or $52 for 18
>> coins, or about $2.90 per coin. And somebody's "investing" in
>> those coins and paying $42.50 each(well, around $14 per coin if he gets
>> three other people to pay $42.50 per coin.)>> Someone is earning a lot of money off gullible people.
>> I like silver coins, and do buy them. I just don't pay 8 times what
>> they're worth and pretend I have an investment or a business.
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