Re: Scam
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So I went on thier website. These guys are a total scam. Not because I think what they are doing is illegal, but because of the way they price thier silver. Now, I expect them to charge some amount to cover overhead. I mean you gotta pay an expence fee for GLD or any other commodity fund. However, thiers is outrageous.
This varies month by month, but the fee they charge can be around 25-50%. A liberty dollar debuted at $10/ounce of silver in 1998. The spot price on silver was $6.25 at the time. A 37.5% haircut.
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Why is it a scam? You're not forced to buy. And if they can find suckers to pay over market prices why would they care about what smarter potential customers would think? It's no more of a scam than state lotteries which are wildly successful despite the generally horrendous odds. If casinos can spread keno why can't companies charge 37.5% handling fees for silver?
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