Buying metals from Midas Resources?

http://www.midasresources.com/


I just got off the phone with Frank from Ted Anderson's Midas Resources and for about $10,000 i built a package including.

15 $10 Gold Liberties (1/2 oz of gold in each)

2 Rolls of mercury dimes


This sounds pretty good, considering the prices on ebay and whatnot. Frank also implied that .999 pure gold can always be seized by the government, if they return to the gold standard. (apparently this happened once before in history)


Anyways, I should've bought gold a month ago like a smart person, but i've left it and now i've got to make my buying decision fairly quickly.

Midas does not expect to have these coins avaliable past tommorrow.

Would you go through with this if you had $10k to invest, or would you shop around?

If deal is still available until tomorrow, you have plenty of time to shop around. Try ampex or others.

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Originally Posted by Bruno

If deal is still available until tomorrow, you have plenty of time to shop around. Try ampex or others.

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Will do, for sure.


Im curious if the above sounds like a fair deal, good deal, or a ripoff :cool:

Also,

is it more likely that the government will seize .999 pur gold, than gold coins mixed with other metals like the $10 liberty coin?

try monex as well as apmex. Last week they were out of silver, but i didnt ask about gold.

www.monex.com


ask if they have any silver back in stock , thanks.

[QUOTE=ClayTrainor;1750459]Will do, for sure.


Im curious if the above sounds like a fair deal, good deal, or a ripoff :cool:

Also,

is it more likely that the government will seize .999 pur gold, than gold coins mixed with other metals like the $10 liberty coin?[/QUOTE]


I don't think anyone has the answer to that question. But from my understanding, numismatic coins were not confiscated in 1933, only bullion coins.

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Originally Posted by s35wf

try monex as well as apmex. Last week they were out of silver, but i didnt ask about gold.

www.monex.com


ask if they have any silver back in stock , thanks.

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hey bro, i just talked to them, and they have lots of Canadian maple 1 oz. gold coins but in terms of silver they only have

1000oz bars

90% bags of junk and
40% bags of junk :)

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Originally Posted by Bruno

I don't think anyone has the answer to that question. But from my understanding, numismatic coins were not confiscated in 1933, only bullion coins.

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Thanks for the insight Bruno!

That seems a little overpriced, probably because of their numismatic value

how many ounces of silver are those 2 rolls?

Id shop around, you can still get gold bullion is several places

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Originally Posted by bluemarkets

That seems a little overpriced, probably because of their numismatic value

how many ounces of silver are those 2 rolls?

Id shop around, you can still get gold bullion is several places

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yea, so many factors to consider.

The deal seemed expensive to me since alex jones is talking like Ted Anderson is giving us such a huge deal on this stuff. They are talking like they are giving it to us for $100 cheaper than current market value but,

When you add up the value of the gold, it's only 71/2 ounces, in the 15 coins.

why are these coins worth more than the value of gold they contain?

Here's a link to check out: http://bullion.nwtmint.com/

too much premium it seems, personally id go for just bullion, just find the cheapest gold coins, gold is gold.

you're paying the premium because they advertise on AJ and I think take advantage of their listeners

no if you want the deal prices you must tell them you are asking about the alex jones specials or you pay regular price the specials are for aj listeners exclusivly

the alex specials are below spot because ted buys in bulk and he loves aj and his listeners (ted also owns genisis communications network alexs home based station that sends his signals to the other affiliates)

listen to the latest alex jones broadcast for the current specials

The following post was originally posted by me at a precious metals forum:
http://www.pmbug.com/forum/f8/midas-...anderson-1739/

I know that many RPFers listen to the Alex Jones show and so I think it's important to inform you of a scam:

I've heard of Midas Resources (Ted Anderson) recently through David Morgan whose silver investor newsletter I'm receiving. He just notified subscribers that he'll be on a radio show together with Ted Anderson of Midas. I didn't know who that guy is and so I briefly checked out his company Midas Resources.
The first thing I learned was that this guy is apparently pushing his company hard on the Alex Jones show - bucket shop ( http://en.wikipedia.org/wiki/Bucket_...tock_market%29 ) / boiler room ( http://en.wikipedia.org/wiki/Boiler_room_%28business%29 ) style . He claims to offer silver coins "below spot" because he bought them "at a lower price". That is almost certainly a lie. Generally speaking: Any coindealer who wants to sell below spot "because he bought early at a (much) lower price" is basicly saying that he is NOT hedging. That is totally suicidal. Sooner or later he will be out of business. But that's not what I think Midas is doing. To the contrary, here's an example of an offer that has been pushed on the Alex Jones show:

http://www.midasresources.com/store/.../dishonest.gif

First of all Anderson/Midas doesn't sell bullion products, they sell collectible coins only. Midas then claims to sell two oz of silver together with an Alex Jones DVD, another DVD and one book for $72. ( http://www.midasresources.com/store/store.php ) How can that be? That would be the deal of the decade. 2 oz of silver cost $65 alone (at 32.5/oz) . But there is a problem: You don't get 2 oz, you get 1.54688 oz because the 2 coins you're purchasing are peace dollars (http://en.wikipedia.org/wiki/Peace_Dollar ) coins whose silver content is 0.77344 oz of silver per coin. This is classical false advertising.

After discovering that I went on to research customer opinions on Midas. Unsurprisingly, Midas brokers are described as aggressive and deceptive. There are quite a few stories of people who mums/dads where tricked into buying stuff from Midas at heavily inflated prices. Where did these poor seniors get the Midas hotline number? You guessed it: at the Alex Jones show. :snidely:

Here's a detailed examination of the offer I mentioned above:

The photo I posted above shows a coin that was minted in 1921. I think we can agree on that. So the next question is: Which coins ("silver dollars") were minted in that year?
According to my research there were two types of coins minted in 1921:
http://en.wikipedia.org/wiki/Dollar_...ited_States%29

1. The Morgan Dollar (1878–1904; 1921), looking like this:
http://upload.wikimedia.org/wikipedi...us_Obverse.png

2. The Peace Dollar (1921–1935; 1964), looking like this:
http://upload.wikimedia.org/wikipedi...ace_dollar.jpg

I think it's very clear that the coins in the Midas banner are peace dollars.

Funny thing is that 1921 peace dollars are pretty rare, because minting really got going in 1922. 1921 peace dollars are selling for 4 times their metal value, 1922 and the following years are selling basicly at metal value:
http://coins.about.com/library/US-co...lar-Values.htm

That's why I think he wouldn't even sell 1921 peace dollars, but probably other years. That in itself would be false advertising.

Besides that, it wouldn't matter in terms of metal content whether it's a 1921 Morgan Dollar or a 1921 Peace Dollar, both contain the same amount of silver:
http://en.wikipedia.org/wiki/Morgan_Dollar
http://en.wikipedia.org/wiki/Peace_Dollar

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Which brings me toanother point, is Midas really claiming to sell two oz? They don't do it on their website. I grant you that. BUT, watch the following video of Ted Anderson on the Alex Jones show on October 4th promoting the offer from above, I'm transscripting the relevant pieces for you:

9:00, telemarketing starts.

9:30, AJ "pitch doesn't really support the network" - lie Ted Anderson owns the GCN network.

9:40, $72 offer promotion starts, AJ "Ted bought them when they were lower, so he can do that now"

10:05, AJ "two silver dollars"

10:32, AJ "[Ted], you sold out of most of the gold/silver you bought months ago..., I know that's how you pass on these savings to people"

10:48, AJ "super radio specials"

11:00, Ted Anderson "You can't buy 2 silver dollars for $72 anymore" Of course you can buy two peace dollars for that.

11:08, TA "Price of silver has gone up to $35/oz, so they're not available."
That's a clear suggestion to potential buyers that he is talking about coins that contain one oz of pure silver. That clearly false advertising.

12:15, AJ "Ted, I know you sold thousands of them over the few weeks, two silver dollars for $72, you can't even buy those in the market, with two free films and a book, ... I feel so good promoting that

13:00, TA "With silver soon at $40 an ounce, I'm simply not going to be able to to sell two silver dollars, give away all these other goodies, for $72 delivered when the shipping alone is $6.5 . But it does educate the people. It's a great way to get new people started with precious metals ... at $40/oz silver, I'm not going to be able to to sell two silver dollars ... I would be broke, I would be out of business."

That's another clear suggestion to potential buyers that he is talking about coins that contain one oz of pure silver. Additionally, he specifically adresses pm newbies, because they don't know the details. That's false advertising and I think it's quite disgusting.

15:50, AJ "800..., the brokers there are great guys, and ladies, they can answer all your questions ... you're getting the deals I get"

And the whole piece finishes with AJ specifically talking to the target demographic, well-meaning but naive grandmas. That's really the icing on the cake.

http://www.youtube.com/watch?v=rsnZIYGaJlQ

Anyway, to conclude my findings:
Treat Midas with extreme caution. And don't deal with them at all if you're interested purchasing the largest amount of pure (!) metal for the lowest possible price.

And now you can blame me for bashing Alex Jones if you want :p

I think the point about the peace dollars is very important. They' pictured those specifically to lure in collectors who see that and think that the seller doesn't know what he has there.

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Originally Posted by angelatc

I think the point about the peace dollars is very important. They' pictured those specifically to lure in collectors who see that and think that the seller doesn't know what he has there.

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Sucking in not only newbies but also collectors, I didn't think about that when I wrote the post. Thanks.

"pitch doesn't really support the network" I think he is specifically talking about the "loss leader" not supporting the network, as he mentions immediately after making that statement.

But I agree, I was always under the assumption they were advertising pure silver coins in those deals. I looked into buying from Midas a long time ago, and found many cheaper dealers out there.

I hate to think what the price tag on 1921 & 1928 Peace dollars are these days , for some reason the 1927's are hard to find.Last 1928 I saw at my local coin shop went for $375, I bought a 1927 last week for $32.Last 1921 I saw would have cost $100.

I have some Peace dollars. Didn't know some were rare. Will have to check my stash.

Thanks swissaustrian! I've heard that ad before when watch AJ videos, and figured that it was two ounces of silver.I don't have much use for the book or films, so never went through on the offer.

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Originally Posted by ronpaulfollower999

I have some Peace dollars. Didn't know some were rare. Will have to check my stash.

Thanks swissaustrian! I've heard that ad before when watch AJ videos, and figured that it was two ounces of silver.I don't have much use for the book or films, so never went through on the offer.

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Checked. No 1921 Peace Dollars, but did find a 1921 Morgan Dollar. Not as rare I guess.

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Originally Posted by ronpaulfollower999

Checked. No 1921 Peace Dollars, but did find a 1921 Morgan Dollar. Not as rare I guess.

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1921 Morgans are common , last year , big mintage, only year for a D mint morgan, your Peace Dollars, are, most likely, all , 1922 & 1923. The more difficult ones , are, 1921 ,1924 S ,1925 S , 1926 , 1927 , 1927 S , 1927 D ,1928 , 1928 S ,1934 ,1934 S ,1934 D , MOST valuable, is 1928.The1925's- 1927 , though, are not easy to find. I would, like to have a 1964 D , but, they were all melted , and, none released.