I was flipping through the channels tonight and saw this guy on again. Somebody's getting rich off this show. They had what was called a 2 lb Emergency silver kit on tonight. What it was, was a 2 lb. box of junk silver, dollars, quarters and dimes. He was pulling VF Morgans out of the pile and if it had a mint mark it was worth 50 bucks. lol Anyway, they had 250- 2 lb. lots. They started them at.......$2,500.00 :mouth: But then started SLASHING the price down...down...down... All the way down to..... $600.00! And I'm pretty sure these were 2 troy lbs. Not regular pounds because he accidentally slipped up and threw 24 out there. Which if that was the case, it was $25 an ounce for junk silver. And people were buying them. I watched 50 of the lots sell and then I flipped the channel. In the age of the internet, this shouldn't be happening.
I was watching that too. He said emergency because He was talking about how this is a great investment and that as the value of the dollar decreases, you would still have value in the silver. And you would save so much if one day you need to barder with it
Exactly. I agree with some of what he said but I hate to see people getting ripped off so badly. It's hard to believe that there are people who could be just flipping through the channels, arrive at that show, and then trust that guy and buy like that with no knowledge. I'm almost certain it was 2 troy lbs. as well, which they would not clarify. They just called it 2 lbs. and the buyer was probably supposed to realize (or not) that troy is the measurement used for coinage. What a scam. About as sleezy as it gets.
The troy pound (troy) is 5,760 gr (≈ 373.24 g, 12 ozt), while an avoirdupois pound is heavier at 7,000 gr (≈ 453.59 g). There are 12 troy ounces per troy pound,[2] rather than 16 avoirdupois ounces (oz) in the avoirdupois pound (lb) as in the more common avoirdupois system. The avoirdupois pound is 147⁄12 (≈ 14.583) troy ounces. The avoirdupois (IPA: /ˌævərdəˈpɔɪz/; French IPA: [avwaʀdypwɑ]) system is a system of weights (or, properly, mass) based on a pound of sixteen ounces. It is the everyday system of weight used in the United States. http://en.wikipedia.org/wiki/Troy_weight
Yes. Two troy pounds = 1.645714 regular pounds. Because there are only 12 troy ounces in a troy pound. But I'm sure the people buying thought they were getting 2 normal pounds of silver when in reality, I would bet they were getting 1.64 pounds. But Jimmy didn't want to make that clear.
I sawthe show too The guy is a bit slimy, but I listened very carefully to him because I was actually tempted to by the Silver coins. First off he repeate3dly said taht it was 2 pounds of pure silver and also added...raed what I write.... that the box would weigh over 2 pounds but the silver content was 2 pounds. My assumption here was that thesee were circulated 40% and 90% siver coins amd if they were ..and if it was 32 oz of net silver. If it was all 90% silver coins the weight would be 32/.9 = 35.56 ounces per box or at $600 the cost per ounce was 16.87 which was still higher than what 90% silver coins were selling for on MONEX. So while the guy is a real slimball, on the surface the deal wasn't as bad as some of the above posts make out.....unless the silver wasn't 32 oz but actually 24 oz.....but to be honest I missed picking up on that. Bottom line, no one should ever buy anything from this guy anyway....even if this one was a decent deal.
My typing sucked Apologize for the typing..I was multiplexing and my typing isn't great on a good day.
