Huckster McShillbag Presents: "U.S. State Silver Bars" for USD 57./Ozt

"Bargain"* because today's Metro says US Resident losers outside select 48 States "must remit" $ 134./Ozt. You cannot even get "the state minimum" for your own State, just whatever State they decide to send you.

It was a special offer to just 7 States before. Now (2 weeks later) it's 48 States.
http://republicanherald.newspaperdi...#_article3296ebd7-d78f-4d06-826b-f3e4d774fb3f

*See "Lincoln Treasury" ads, everywhere. This is NOT a sterling investment, folks - it's .999 Fine lol! Who is this "Mary Ellen Withrow, emeritus 40th Treasurer of the United States of America", Slick Willy's State Quarters lady?

 

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I have some that I can sell for a 10% discount over that advertised price. But only for you - and don't tell your friends I did this! WHAT A BARGAIN!!!!

It's so unfortunate that people will get duped on these!

I can see a bit of a premium to collect "all 50 states" but seriously...

 

Wow! Not every Treasurer has been able to parlay a political appointment into such a lucrative and prestigious consulting career.

 

"Me, me, me!" Thanks Brett_in_Sacto, special friend for life!!1 {insert 10 idiotic emoticons of your choice, here.}

The ads are everywhere, recently. The "special discount States" rotate but don't wait!!!1


I've got to admit: they don't say "investment" anywhere, nor "numismatic" but the ad shows how the US Gubbmint is finally giving Americans their Silver back, at a premium I'd say. Wait, is that a rent-a-cop in foreground HE HAS A BADGE! Must be legit

 

One, the former mint director should be ashamed. While they never actually cross the line, in sum total I believe they are crossing the line to make people believe this is an official US government notice.

I know, a sucker is born every minute, but things like this give our hobby a horrific name. Seriously, to most people coin collector or bullion means theft and taking advantage of old people.

 

lol or Governator-slash-Presidential hopeful? How quickly we forget!

Nobody's voting! This means Oblamamama is keeping Americans' State Silver. Where is the outrage? Why would you let HIM keep YOUR State's Silver, people!

 

The real Mary Ellen Withrow is 85 years old and living in a retirement home. She might have no clue.
otoh, she has no excuses nor apologies for a State Quarters numismatic con which raked in millions; I'm not yet convinced this Silver Hype is significantly worse (in total Dollars.)

"Lincoln Treasury" is apparently a wholly-owned subsidiary of Arthur Middleton Capital Holdings, which has a chequered past:
http://m.cantonrep.com/article/20120201/NEWS/302019824

I wonder if poor Ms. Withrow lives in one of their properties.

 

Although I think I agree with you, let's look at the big picture here. Please see another recent CT OP and note the cost of the product (1 Ozt .999 Fine Ag) : $67./Ozt.
https://www.cointalk.com/threads/my-1-and-only-silver-bar.269318/

How do you explain that "bullion investment" as legit (as members discuss it) while the "State Silver Bar" is (we agree) a con? Does anyone on that thread get it? I mean, $57./Ozt for the State Silver Bar is certainly and obviously cheaper, right? If a ludicrous premium is acceptable on that, why not this?

I don't know this to be true, but I wouldn't be surprised to learn both art bars were minted by the same shop, say, the Sunshine Mint. So IMO it's just a choice of private label retail products, same-same effectively. Agreed?

What am I missing here, otherwise?

o.k. I'll play devil's advocate now: for a private label outfit, driven by the same profit motives as merchants everywhere, why not hype and charge as much as you possibly can for PM sold to coin collector rubes?

 

I didn't comment on the other thread. That silver bar would not be for me though.

Regarding this bar, its not the bar itself, it's the shenanigans in the marketing. They go as close as they think legally they can to try to con consumers into believing this is a US government sale. I simply object to that aspect of it. If they would have just listed one ounce silver bars to commemorate US state I would have no problem with it. Again, it wouldn't be for me, but I don't care what companies offer for sale. Its a free market.

 

Trouble is, most of the folks that get taken in these schemes are not collectors......

 

Agreed partly, medoraman. I find this art-bar hype grotesque, laughable, and somewhat tragic all at once. The "shenanigans of the marketing" is pure genius though. It's 100% pure American hokum.

otoh, again playing devil's advocate, retail ~200% markup on commodity spot price might not be high. Think of the retail markups you pay on lots of other junk, and this becomes obvious.

How can you be so sure? I'd suggest they are now, green18. So are the folks shopping for coins here:
http://www.hsn.com/products/2015-anacs-69-fdoi-john-f-kennedy-coin-and-chronicles/7923142

 

Different breed of animal. That type of place is frequented by less knowledgeable/experienced collectors.

 

I'd agree they're unknowledgeable, I don't know if it's trouble, and I disagree they're "not collectors." As for folks on CT, well the posts speak for their authors.

This place is very enlightening, to say the least.

 

What's that supposed to mean?

 

I think he forgot that he is also a CT author with many posts here in his original thread.

 

Falsehood Tricksters.

Here is their frame of mind the Falsehood dealer.

I will take their money and his money and all the money from all the fools and at the end of the days what does this Falsehood Dealer get about nothing but a few poor souls.

 

Thanks Reverend.........

 

Story picked up 6 weeks later... some good insights on the marketing to "coin collectors" and such. See how this "bullion investment" did! This is WHY it's called "dumb money."
http://triblive.com/business/headlines/9413997-74/silver-bars-company

1 recent eBay example should suffice. Let's do the math together.

Total Paid (10/12/15) .................. USD $ 57. (x 2, for Free Shipping)
Sold on eBay, 3/29/16: ......................... 25.60
Net 15% eBay fees ............................... - 3.84
Seller's Net ........................................ $ 21.76
Engelhard Ag fabr. prod., 3/29/16 Spot.. $ 18.32
Seller's Premium over Bar Spot ............ 18.75%
Seller's Loss .................................... - $ 35.24 (x 2, etc.)
Seller's Total Return, Collectible Ag ...... - 61.82%

http://www.ebay.com/itm/Indian-Head...091442?hash=item542bccbf32:g:U~cAAOSwyjBW2fhb

 

Philip N. Diehl did and I'm sick of his freaking scam artist commercials.

 

Oh crap, this was a necro I didn't catch. Damn, I'm usually so good at that!