Midas Resources Scam

[StoreOfValue]

I just got a call from Midas today asking first if I liked the book (I think it was Creature from Jekyll Island but not sure) and second if I wanted any PM's. I asked what kind of a % they charge over spot and the guy hemmed and hawed telling me each broker at Midas sells for a different %. Warning bells!

He started explaining junk silver to me, telling me current spot price was about $42 and that $1 face was EXACTLY 1 ounce of silver. When I corrected him saying $1 face was about .77 ounces in silver dollars and even less in junk making it currently 27X face value (looking at coinflation while he was trying to con me) this guy thanked me for giving him some information because he was so new at this, and hung up the phone.

Any similar tales? This can't be an isolated incident. We should alert our members about solid and shady outfits. I got the idea to post today from the series of investigative reports in Minnesota being featured at Coinflation.com.

Happy hoarding!

[Mossy]

It looks worse for Midas. May 10, Kitco shows about $38 for spot, not $42. I took a look at their web site, and the current price on halves is roughly 50% over melt.

Either someone updated the web site between then and now, or the guy you were talking to had not even read it. Or he knew he was lying.

[Rodebaugh]

Have some fun with it: ask them what their buy price is for 90%