Gday Dusty!! Long time no speak, hope all is well. Wouldn't mind a couple of RSC rounds to destroy/mangle then wipe my ass with! I would be more than happy to do a vid on melting a few!!
RSC is probably one of that myriad companies that appeared with the precious metals "bull market". Bull market is gone. Companies disappearing again. Lost some money too, not on RSC purchases, and way more due to the dropped price. See, there are more ways to empty peoples pockets, a nondelivery after payment (no idea what RSC's general case is, unlike Tulving that has some sources mostly due to 1 person / group doing the work needed for it), is basically the same as a temporary increased price. About destroying rounds, that's more an owngoal than a target hit.
It would seem that that's NOT the case: http://www.royalsilver.com/retailstore/product.php?id_product=27
All morals and ethical business models aside. What do people think of using this as an investment opportunity? Strictly from a capitalistic perspective. If you take the words given from the CEO of the company into consideration it sounds like they were a very new and very small company (probably still are) when they had these issues. They also had the pressure of having to consistently produce .99999 quality coins. Since they're still a very young company and are the only ones producing coins of this purity, is it unrealistic to assume they will become big players in the physical silver market? I'm thinking it might even pay off to buy shares in the company itself. On the other side of the coin you have the coins themselves. Surely there are plenty of people out there that would be interested in owning coins of this purity, even if it is just a novelty idea. It would seem this company either a) has a lot of growing to do, or b) will not make it in the long run. Either way sounds like an investment opportunity, for if they go belly up these coins will be extremely rare and the purity of them will make them sought after. Just my thoughts, but I would like to hear other's opinions on these thoughts. I don't want to get into whether or not they're a reputable dealership, because the way I see it there is still potential opportunity to be had, and for all I know the mistakes made were honest mistakes.
Sonic, you need your head examined if you're going to buy shares in RSC :| Have a read of these threads: http://forums.silverstackers.com/topic-27623-the-truth-behind-being-a-royal-silver-mint-member.html http://forums.silverstackers.com/topic-29764-this-is-how-it-stands.html http://forums.silverstackers.com/topic-37638-the-royal-silver-club-carry-on-from-a-while-ago.html http://forums.silverstackers.com/topic-43948-royal-silver-company-ceo-brian-mcconnell.html Bullion Baron's blog on RSC: http://www.bullionbaron.com/2012/08...howComment=1357626112120#c6686518636483960160 Still want to invest? I have a bridge I'd like to sell you.
The reason I'm after someone that melts down silver into bars as I'd like to melt some RSC coins down into bars which would have to be a first and cool.
I would buy that. If you followed the process through on video... then stamped them or poured into a unique shape. That would really tap into the 'spite factor'. Don't disregard spite in the market. Lamborghini was setup purely to spite Ferrari.
Still got some reading to do, there is quite a bit altogether. Like I said, I'm not convinced they acted maliciously. Amateurish, sure, but so far all I've seen is testimonials and I understand how frustrating it would be not getting what you paid for, but unless it's in what I still haven't read yet, people did eventually get their products, right? The company still exists, so obviously they're not too shady or they probably would've been shut down by now. These guys aren't even a decade old, but I'm supposed to hate them or fear them because they messed up on a few people's orders? Like I said, maybe there is more to it that I haven't read yet in Bullion Baron's article, I think I'm about halfway through it. But I haven't read anything yet that's given me reason to believe they're all a bunch of crooks. I'm just trying to look into the future. Which is what speculative investing is all about. Regardless of what happens to this company, what will their coins be worth 25 years from now? They might not have ever gained enough traction to be well recognized enough, on the other hand they could become extremely rare collector's items. Also, their shares probably are pretty cheap, and so I wouldn't really have much to lose if I chose to invest, and I wouldn't invest any more than I'd be willing to lose anyway. I'm just thinking of Warren Buffet's famous quote: Be fearful when others are greedy, and greedy when others are fearful. This is the main reason I decided to stay in the physical silver game after deciding, ok, maybe it ain't gonna go to the moon overnight, but regardless people in general are fearful of silver as an investment, and I believe I'm buying in at a relative low. Actually I think the main reason it is low is precisely because of people's lack of confidence in it. I know silver is more of a hedge than an investment, but I do intend to make a profit as well. Btw, notice I never said I was going to buy into their little bond game. Not interested. I'll play my own hand, whether the cards are good or not I will learn for myself. Emotion has no place in business, and luckily I am not emotionally vested in them one way or the other, so I'm trying to be as objective as possible to determine if there is opportunity to be had here. P.S. When I do buy some of their coins, I hope you all smash/melt/destroy all the remaining ones just like you plan to
Believe it or not, the fact that they've got this controversy surrounding them does not mean that nobody is going to want their coins now, the opposite is probably true. The saying "All publicity is good publicity" is quite true and I'll give an example: There's an Australian writer I like, you all might know of him, named David Thorne. He had a similar controversy over about 100 books not getting shipped out. While come to find out he did not act maliciously (it was an issue with transferring distributors), a few, and I do mean no more than a very few, people kicked up a lot of dust over it on reddit and social media. A lot of people were bashing Thorne and calling him a crook. He said sales were higher than ever that week. Even if RSC goes completely belly up, the fact that they had this controversy will make them more memorable, and thus people will be more likely to seek out their coins in the future, especially if they no longer exist! I'm weighing this whole little controversy bit in my mind, it's a big factor for why I want to buy (not a factor for company shares, just for the coins themselves).
In what way am I being gullible? Nobody is swaying me to buy into that company. It's clear that you all have your minds made up. I don't. I'm not dead set in either direction. So I don't think I'm being unreasonable at all, actually. By the way you should change the "is" to "does" so that it would make sense.
Ok someone correct me if I'm wrong, but isn't this the same company that owes thousands of dollars to investors as well as failing to deliver goods that were paid for. I mean really, hundreds of previous investors lost THOUSANDS OF DOLLARS and your thinking about investing in the same failed business. Perhaps a little more research may be a good idea before taking the plunge this particular venture.
Sonic, you have to keep in mind that when somebody hands over their hard-earned money in this industry, they don't take too kindly when they get burned -- or even the appearance or suspicion of the other party trying to pull a fast one on them (or others). And rightfully so. One & done. That's it. No more. And they never forget. Be careful where you send your money. And understand where you're coming from, but you might want to listen to what others have been saying.
