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How you're being scammed by big silver companies

Posted: 14 March 2017
by SilverWarrior
Since I've been absent for quite some time, I figured I'd return with a heavy hitting topic. Believe it or not, most big silver companies put their own interests ahead of yours. Now, that seems fair. I mean, as a business, they need to profit, not give charity. However, what I don't agree with is the way they scam people. That's right, you may have very well been a victim. Now, there are a few ways they do this. The best (or worst) example of this is when they sell circulated silver. Not only do they charge a hefty premium (which isn't a scam, but is a ripoff ), but they often set you up with very lowball coins that do not match up to the pictures. Not only are you getting less valuable coins than presented, but you're getting less silver than you should be. This is because of just how worn these coins are. Missing rims and details quickly add up to a lot of missing silver when buying in bulk. Another notable scam is when they try to have ridiculous buy back prices. I call this a scam because they could easily pay a little more and still make a large profit, but instead allow people who are only selling out of desperation (to pay bills, financial emergency, etc.) to be forced even farther in the hole. They'd never treat a notable seller with such disrespect, which leads me to my third point. If you don't have a voice in this community, they will feel free to step all over you. Cull Silver, a notable figure on YouTube in our community, exposed this when speaking with Apmex. At first, they were giving him a hard time about getting his damaged coin replaced. However, upon hearing that he had a large voice in the Precious Metals Community, they were quick to change their attitude. I hope that you enjoyed some of my thoughts, and look out for future posts.

Re: How you're being scammed by big silver companies

Posted: 15 March 2017
by TonyJ
SilverWarrior wrote:Since I've been absent for quite some time, I figured I'd return with a heavy hitting topic. Believe it or not, most big silver companies put their own interests ahead of yours. Now, that seems fair. I mean, as a business, they need to profit, not give charity. However, what I don't agree with is the way they scam people. That's right, you may have very well been a victim. Now, there are a few ways they do this. The best (or worst) example of this is when they sell circulated silver. Not only do they charge a hefty premium (which isn't a scam, but is a ripoff ), but they often set you up with very lowball coins that do not match up to the pictures. Not only are you getting less valuable coins than presented, but you're getting less silver than you should be. This is because of just how worn these coins are. Missing rims and details quickly add up to a lot of missing silver when buying in bulk. Another notable scam is when they try to have ridiculous buy back prices. I call this a scam because they could easily pay a little more and still make a large profit, but instead allow people who are only selling out of desperation (to pay bills, financial emergency, etc.) to be forced even farther in the hole. They'd never treat a notable seller with such disrespect, which leads me to my third point. If you don't have a voice in this community, they will feel free to step all over you. Cull Silver, a notable figure on YouTube in our community, exposed this when speaking with Apmex. At first, they were giving him a hard time about getting his damaged coin replaced. However, upon hearing that he had a large voice in the Precious Metals Community, they were quick to change their attitude. I hope that you enjoyed some of my thoughts, and look out for future posts.


Fiat currency is a scam. Credit cards with high interest rates are a scam. The US housing market is a scam. Stock exchanges are a scam. Taxes are a scam. High prices for Internet service is a scam. The list goes on and on and on... Basically anything could be a scam to you if you find yourself on the wrong side of the final outcome. Silver is a form of international currency, that is recognized around the world and is valued based on the currency of the country you want to sell/trade it in. So either directly or indirectly, silver could be considered part of the overall scam we call modern life.