Anyone bought anything from them? Their buffalo prices seem almost too good to pass up. Any feedback?
question How can they sale coins as "investments" I thought "investments" had to be registerd witht he SEC. They even have a risk statment. Idk it sees fishey to me. I guess if you can return them its legal because your not technicaly at risk, but still this seems not right.
The SEC doesn't consider coins investments. A dealer could sell roofing nails as investments too, and the SEC wouldn't care about that either.
I get what your saying That makes sense, but what about Multi-level marketing companies that get busted for secuirtes fraud all the time "herbal "enlargment pills" are not investments, eather but they still go down all the time. from: http://www.mlmwatch.org/11Legal/sec.html as defined by Section 2(1) of the Securities Act and Section 3(a)(10) of the Securities Exchange Act of 1934. The term “investment contract” is defined as (1) an investment of money; Obv they fit this part th(2) in a common enterprise or venture; I think losley they fit this because the promis to buy the coins back and have "experts" to help us out (3) premised on a reasonable expectation of profits ( Oh Yeah its all over there web page) and (4) to be derived from the entrepreneurial or managerial efforts of others. Named after the leading case on the subject, this is the "Howey test." : ( This part is hudge is in this case "coin investments" what could be more of a passive gain than the coin market. Think about it Dealer "buy this coin and put it in a safe. I'll buy it back form you for more money Ten years from now" which is exactly what there site says. I'm no attorny, but I don't like it. I mean its one thing to be like. Hey these coins are awsome buy one, but another to sell someone something with the implied promis to buy it back in the future at a profit, and its realy funny that they have the risk statment and the return policy because those are two key tihngs when runing a ponzi scheem/ pyramid scam that you have to have to not go to jail.
