Topic: Gold And Silver Buyers Beware

[Pandora]

Fran Porretto has been burned by Northwest Territorial Mint in an attempt to purchase silver.

[Glock32]

Sorry to hear that about Fran.  Goes to show that anyone can be victimized, because Fran is unquestionably a very smart guy.

The big question mark I've always had regarding dealers in precious metals, particularly the ones who play up the SHTF angle, is "if you are so certain of the dollar's imminent demise, why are you accepting it in exchange for inherently superior PMs?"

[Weisshaupt]

Sorry to hear that about Fran.  Goes to show that anyone can be victimized, because Fran is unquestionably a very smart guy.

The big question mark I've always had regarding dealers in precious metals, particularly the ones who play up the SHTF angle, is "if you are so certain of the dollar's imminent demise, why are you accepting it in exchange for inherently superior PMs?"

For what it is worth,  I have done business with APMEX a few times and was satisfied with the transactions- of course some of the shipments went by boat, and through no fault of APMEX ended up sinking. They aren't the cheapest out there, but you will mostly likely get what you paid for on the day they tell you that you will.

[Septugenarian]

In the long run, lead will be the better investment.   

[ToddF]

I always have bought local.  And recently cashed out.  Such as this guy

http://www.coinbuys.com/

Absolute top notch integrity. 

I also checked this place out when it came time to sell

http://www.coinsonline.com/

It may have been innocent, but I got the feeling they were feeling me out, to see if I knew what I had.  For example, I had an MS-60 1876s $20 gold piece.  He offered me the generic price offered for a Type 3 $20.  Anybody that knows their gold pieces knows that the 1876s is a type 2, and worth considerably more.  I pointed that out and he immediately raised his offer, but I had to point it out.  Gary Atkins (my first link) immediately offered a fair price.

[Alphabet Soup]

Despite all that, as of yesterday morning Northwest Territorial Mint was still accepting orders.

I can confirm. They're still running radio ads in my area.

Once upon a time we had a pubbie Attorney General who would leap right into the middle of this guy's shyt. Alas, he tried for the governors job, betrayed the voters on same-sex "marriage", and now is reduced to voicing PSA's.

Sorry Fran.

[Libertas]

Sorry to hear that about Fran.  Goes to show that anyone can be victimized, because Fran is unquestionably a very smart guy.

The big question mark I've always had regarding dealers in precious metals, particularly the ones who play up the SHTF angle, is "if you are so certain of the dollar's imminent demise, why are you accepting it in exchange for inherently superior PMs?"

For what it is worth,  I have done business with APMEX a few times and was satisfied with the transactions- of course some of the shipments went by boat, and through no fault of APMEX ended up sinking. They aren't the cheapest out there, but you will mostly likely get what you paid for on the day they tell you that you will.

Ditto all of the above.

They also sell second hand rounds, so anything produced by NWM I would want tested, make sure there is no debasement.

I always bought APMEX new, and if even a higher premium there is a case to be made for junk silver if the former is a concern.

Feel for Fran, but you do have to be careful who you deal with.

Wonder if NWM execs had Panama accounts?