The truth behind being a Royal Silver Mint member.

So someone has paid for something they have not received and they post up that they are unhappy and the seller posts a huge thread saying nothing.

I would be pissed off.

Is it a "coin" thing that buyers put up with crap service?

 

@Brian

There is nothing you have posted above that actually explains why your delivery times are terrible.I have never seen a "CEO" that moans about how hard it is to please the public.You sound like your customers owe you .Your post is Hilarious.

Bolivia...hahahah

 

I would actually be more concerned about the money. I could never understand how people could be so trusting with such an amount of money to a company that you would not have any recourse in cases of fraud. I am sorry for being pessimistic but in my line of work there has been heaps of 'legitimate' companies with bigger names and actual regulatory oversight that ended up being pyramid schemes. I am not saying that is the case but if it was the 'investors' would not have any recourse as they are based overseas.

 

There are a lot of inaccuracies in Brian's post. For instance, (1) posting your order tracking number does not invalidate insurance. (2) Dusty and I are not the only two customers that have had issues with RSC orders. And (3) I noticed Brian mentioned refining issues affecting that prior 3 weeks, but he didn't explain the several months it took Dusty to receive his silver coins or even my 2011 silver macaw which I would have thought would have been in inventory.

Maggie seems to have the golden touch with Brian, but from my personal experience and that of other customers, the deadlines listed below are not being met, nor are people being notified of the delays. Posting order issues on this thread seems to be the most effective means of communication with Brian. The quote below is taken from the RSC web site and needs to be changed.

'Your shipment
Packages are generally dispatched 2-3 weeks after receipt of payment and are shipped via FedEx directly from our mint. (Occasionally senior management will mail smaller orders from the USA, when we are in the states.) In case of high demand or back-order, delivery may extend to 4-6 weeks. Please be patient. We are a small mint, in a challenged country, but we honor every paid order. RSC will advise when deliver may extend beyond the published leadtime. If you prefer delivery with required signature, an additional cost will be applied, so please contact us before choosing this method. Whichever shipment choice you make, you will be able to track your package online.'


Anyone else heard anything about the snake rounds. According to this June 16 email from Brian, they were supposed to be shipped by the end of June. Now I am wondering whether the Anaconda or the Lunar will come out first:

"TO:xxxxxxx CC:Chris Coria Message flagged Saturday, June 16, 2012 3:07 PM xxxxx:


Your gold coins have been in the US for two weeks, we were waiting on the silver coins. We will send the gold coins now and pay for the shipping on the silver coins, when they arrive in the US later this month. No extra charge on shipping--we will pay for the second package. Thank you for your patience.


Regards,


Brian.

Brian McConnell
CEO, Royal Silver Company (Bolivia) S.A."

 

I have sent another email mentioning that he's kept my money for longer than our contract states and that I want a accurate payment date

 

I've sent another email to ask for my money back this week as I've waited for everything that's ever came from that mint and that this isn't a production problem it's money that's suppost to be honored as a return after a month.

 

Just a third party witnessing what seems to be a potential PONZI situation here. It seems they have to sell a few more memberships before "older orders" get fulfilled.

Where there is Smoke there is FIRE.

 

silvermed, I don't think that RSC is a ponzi scheme. But Brian's poor communication/lack of communication will likely raise concern amongst RSC investors, cause speculation and harm RSC sales.

The things we know for sure is that RSC is not meeting its own terms of coin and membership sales and that the communication has been terrible. The rest is speculation. The sooner that RSC refunds Dusty's membership monies, the better for RSC & Dusty.

 

The whole point is that nobody knows. Seldom if any business starts out as a Ponzi scheme, it becomes that way due to poor financial as well as business management then the directors have no choice but to adopt the characteristics of a Ponzi to survive. In the off chance that Brian cannot pay back his investors then what? no one has any recourse. In any investment the exit strategy is as important if not more so than the entry.

 

I've had to email Brian again to ask for my money and dividend coins to be sorted out within seven days so that this shit can all end and the mint can stop bullish#ting about everything that's ever came out of there communications when you even get any.
No more long drawn out excuses on being a small mint etc etc.
Show some professionalism and repay what is not yours.

 

Dont get why anyone would send $$$ offshore where there is no recourse. No different to sending money off via Western Union to buy products from China or India ! Assuming Royal Silver is trying to operate legitimately (and thats a leap of faith to begin win), what if they suddenly have a cash-flow problem or go into liquidation? You are left high and dry. Given they are selling a product (silver) you can buy pretty much anywhere, I dont see why anyone would take these risks.

 

Meanwhile you allow the financial institutes that you bank with to get away with naked shorts.

I am not convinced the company is up to no good. Makes sense demand outdoes supply. Therefore expect delays.

Fk me.

Good to know there are far more paranoid here than I.

 

I am squarely in Dusty's corner on this one.

If a company makes a representation, they should stick it.
If there are market variables that prevent them from being available to fulfil those representations, they need to communicate that detail to customers.

According to the RSC website:
Your membership is a written contract, enforceable by law, stating that we will buy back your membership with 30-days notice, that we must buy back your membership at the end of two years, and that we will send one free silver coin per membership per month until we buy back the membership, that you have the yearly option to buy our coins for the wholesale price of $3 over spot, and you pay for your wholesale coins only after they have been delivered. It's that simple.
If you have ever owned one of our world's purest silver coins, then you know our integrity.

I wouldn't call it paranoia. Just an expectation based upon a representation followed up with a lack of communication. I hope that RSC are ultimately successful in their endeavours but even moreso, i hope that Dusty and others have their investment returned.

The reality is that, these threads score well on Google searches. 1 customer with a thread will do far more damage than the additional costs of honouring a corporate promise or communicating unfavourable market conditions.
Previously I had considered an RSC membership but wouldn't touch one with a barge pole even if they doubled the advertised 'potential ROI'.

 

Forget the money quick trip to get some satisfaction

 

Another risk in Bolivia is having your investment nationalized by the leftist government. Look at what happened to South American Silver Corp.

http://www.soamsilver.com/august-2-2012.asp

 

Agreed. I never seriously contemplated RSC membership, only because I've been burned in other areas of life, and foresaw what Dusty is now experiencing as a very real possibility. This is a good learning experience for Dusty, drilling into him an unforgettable lesson.

I think you can also guarantee, that many other RSC members are too scared to even contemplate following Dusty, because they don't want to be put through the wringer, and so they talk themselves (self-hypnosis) into how its not really that bad, in spite of their unhappiness. They will just hang on for grim death until the 2 years are up, and then they will sit patiently for years - if needs be - praying that one day the refund might actually come through. Those with even less backbone will do nothing.

However, I do think this thread was a mistake. Probably not the best way to facilitate hastening a refund.

 

I'm not saying there up to no good or even give a shit about production delays or any other bullshit but my money is exactly that mine and The Royal Silver Company will not return it so that is the concern.
It's got nothing to do with third world countrys or purity of coins because I've been through all of that crap over and over again.

My money, a contract that never ever was fulfilled and still to this day no communication on when I'll see my money.

Yep everyone a really good company.

 

There is some real parasites on here that when proven wrong still pat themselves on the back.
What comes around go's around it's a little world
And what is happening to me is also most likely the future to others.
Is anyone waiting for coins now? What's the excuse this time?