Post on 17-Jun-2015
description
RARE COIN RIP-OFF ALERT.
Should You Buy Morgan Silver Dollars?
MORGAN SILVER DOLLARS
MORGAN SILVER DOLLARS • Minted in late 1800s, early 1900s
• 90% silver, rest is copper
• Semi-numismatic
• Not super rare
MORGAN SILVER DOLLARS • Minted in late 1800s, early 1900s
• 90% silver, rest is copper
• Semi-numismatic
• Not super rare
SILVER CONTENT DECEPTION
SILVER CONTENT DECEPTION
Slick marketing materials will tell you
they contain a full ounce of silver
1 oz
SILVER CONTENT DECEPTION
When in reality they only contain just
over ¾ oz
.7732 oz
SILVER CONTENT DECEPTION
Typical Sales Pitch:
SILVER CONTENT DECEPTION
"The price of silver is $30. If you call company XYZ today, you can buy Morgan Dollars for just $32
each."
Typical Sales Pitch:
SILVER CONTENT DECEPTION Well…
SILVER CONTENT DECEPTION And Selling Back…
VALUE OF GRADED COINS
VALUE OF GRADED COINS
VALUE OF GRADED COINS • Unless you’re a savvy collector and know the market, it is
hard not to get scammed
• Even if market price is accurate, there are still massive buy-
sell spreads that can confiscate 30% or more of your return
upfront
THE “NON-REPORTABLE” LIE
THE “NON-REPORTABLE” LIE
Morgan Dollars afford greater privacy or even immunity from
capital gains tax
THE “NON-REPORTABLE” LIE
Morgan Dollars afford greater privacy or even immunity from
capital gains tax
THE “NON-REPORTABLE” LIE
The Truth: • Virtually all bullion purchases and most sales by individuals
don’t have to be reported by dealers to the government
• Sellers of numismatic or semi-numismatic coins have the
same obligation bullion sellers do to report gains
VOLUNTARILY on tax returns
CHINESE COUNTERFEITERS
CHINESE COUNTERFEITERS • Recently, Chinese counterfeiters
have been producing such
convincing Morgan Silver Dollars
that they have found their way into
the US marketplace
SO… SHOULD YOU BUY MORGAN
SILVER DOLLARS?
Unless you are a collector at heart with money to throw around or
have an affinity for these coins for personal nostalgic reasons…
SHOULD YOU BUY?
Stick to bullion coins, rounds, and bars only – at prices close
to their actual melt value
SHOULD YOU BUY?