I was told about this, and to me it seems like a pyramid scheme. https://www.*****************/ Edit I did not know links were disabled, sorry. It's called Numisnetworks and basically you pay and sign up under somebody you get a silver eagle MS 70, and then each month you pay 120 dollars to stay in the program and get another silver eagle MS70. When you sign somebody up under yourself you get 50 dollars, and you get you get a certain percent of their subscription fee. Everybody who they sign up also gives you a certain percent of their subscription fees.
Certainly sounds like a pyramid scheme, multilevel marketing or whatever you want to call it. Certainly, some people will benefit from such a scheme but at the expense of others who come in late and are left holding the bag. If you want an ASE every month why not just go buy one?
yup sounds very pyramidal. I would also check to see what grading company is handing out ms-70s, supposedly they (ms-70s) are a rarity, just calling a coin an ms70 does not make it one.
From what I've heard Numis buys large packages of coins and gets them all graded, the ones that come up MS 70 are handed out to customers and the rest are melted down or sold.
So if an ASE grades less than MS-70 it is junk silver and gets melted? I wouldn't want anything to do with an outfit like that.
Don't quote me on that though, I just heard that from some guy. The coins could be sold for whatever they are worth. I do know for a fact that only 70s are handed out.
For $120 a month you could go buy about 8 ASE's yourself. Most will be 69's anyways, so why pay basically $115 extra for a grade point that is meaningless? It's a scam for sure. Guy~
The money they make if it says MS-70 Really thereis not much difference between a 69 or 70 , maybe 1 small mark you can only see with a loupe , and in some cases no difference . IMO .That's why I'd never waste my money buying one , what you buy from the mint is daen close to what they sell as MS-70 . rzage:thumb:
Most people can't tell the difference between 69 and 70, who is grading the coins make big difference, PCGS 70 value is alot more than PCGS69. While NGC 70 value is about double of MS 69. Other grading service's 70 might not worth much.
I agree. I also think the 70 grade tends to get way over-valued, especially concerning bullion coins. I mean really. People should splash some cold water on their face and slap themselves a few times and start thinking deeply about this. It's a $20 bullion coin!! On top of that, they are ALL specially handled to come out nearly perfect to begin with! It's not even like trying to get a 2009 high grade presidential dollar rolling off the presses into enormous bags. They are all specially handled. Some may have a spec on the rim or a tiny spot in the field. In the end, that is still a $20 bullion coin the same as a MS70. It has been said many times that 70s cracked out of the slabs and sent back to the TPGs would have a very small chance of getting 70 grades again because even the graders will vary or find a microscopic flaw based on their eye sight, that may have been missed before. Who knows? So far, I've purchased one PF70 ASE and that was an '08 (at a great deal) to go with my complete '08 PF70 commemorative Bald eagle set. I doubt I will ever buy another. There's just too many coins out there to warrant that kind of premium on specially handled, high mintage bullion coins. Commemoratives, maybe but barely worth it. I wouldn't go for much of a premium on most. BTW, that is a pyramid scheme. The guys who started it are probably getting free MS70 silver eagles by now. Whoever the supplier is has got to be thrilled. IMO, you'd be better off going to ebay and buying $120 worth of as many raw silver eagles as you can get. Way more value. I think there's a huge risk that the "70 market" especially for bullion coins is going to crash some day. Honestly, it's just too huge of a premium for it to sustain long term in my opinion. The differences are so minute at that level. I believe in the 70 grade and warranting a premium but not 2x,3x,4x prices and beyond.
besides the value, I wouldn't do a pyramid scheme, you never know when your getting in....It works for easy money if your one of the first people, but if your close to last you will just get screwed, not worth risk IMO...plus does anyone know if you can get in trouble legally for being involved in one, or are you only in trouble for starting one?
My guess is that anyone who would put forth this offer is a scumbag self-slabber, like the many on eBay. Joe
SGS seems to have an unlimited supply of MS70 coins. Sure, some have dings or wear, but they are shiny, and it does say 70 on the plastic....
It is a pyramid scheme, and I notice it was never mentioned what grading service these 70's were from. You could find yourself paying $170 and mnth na trying to convince others to do so as well for self-slabber 70's
So just where did you hear this? Where would they purchase large packages of coins that some could be MS-70? Why would they melt down the rest? And the most important thing to me is who graded them as MS-70? Remember if you go to Google and type in coin grading services you come up with about 100 of them and many are fly by nights or someone in thier basement.
