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 Replies: 10 / Views: 1,273 |
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Pillar of the Community
United States
2603 Posts |
When investigators went into the vault where Robert Higgins claimed he kept half a million of his customers' silver coins, all they say they found were empty boxes filled with IOUs. On Monday, the CFTC announced that two firms run by the 68-year-old coin dealer were ordered by a federal judge in Delaware to pay $146 million in restitution and fines. The ruling also ordered the firms, Argent Asset Group LLC and First State Depository Company LLC, shut down and barred Higgins from ever working in the commodities industry again. https://www.marketwatch.com/story/a...ins-64b48ca5 |
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Bedrock of the Community
 United States
94367 Posts |
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Valued Member
United States
301 Posts |
This makes the ebay scam stores look like Flower Stores.  Thanks for the link. |
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Pillar of the Community
Canada
5185 Posts |
Silver dealer, a bit of a misnomer.
Lots of other more appropriate words
for a beauty like this guy .
Always store and take physical
Possession of any precious metals
yourself .
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Bedrock of the Community
United States
13696 Posts |
Wow - thats a lot of missing silver Eagles! Hope his firms can make the restitution and this guy spends a long time in a prison cell.
Take a look at my other hobby ... http://www.jk-dk.artToo many hobbies .... too much work .... not enough time. |
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Bedrock of the Community
United States
17525 Posts |
Robert Higgins has an interesting Linkedin presence...
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Moderator
United States
54172 Posts |
[He] separately faces federal criminal charges for fraud, tax evasion and perjury.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
7496 Posts |
The money is most likely long gone. Good luck collecting those fines, fees and obtaining restitution for those that fell for this.
If the coins are not in your physical possession you might not really own what you think you do!
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Pillar of the Community
United States
5732 Posts |
Don't understand why people would pay to have other to store their possession!
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Pillar of the Community
United States
1871 Posts |
How sad. There are respected storage facilities that people trust. But you never know, nothing is 100% safe. Keep your goods at home and there's a chance of burglary, fire, tornado, hurricane, flood, a family member or friend betraying you. Those who have metals in an IRA cannot keep them at home. Some have insurance riders to cover precious metals, jewelry, art work, antiquities, etc. I think this requires an appraisal from a dealer or copies of purchase receipts.
We all decide how to store/protect our stuff. If at home I recommend a fire rated safe and security cameras. Most important, don't talk to people about it IMO.
Edited by livingwater
07/04/2023 7:02 pm
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Moderator
United States
164408 Posts |
Ouch.  Keep physical possession of our own stuff or acquire a safe deposit box in a reputable bank or credit union. |
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Replies: 10 / Views: 1,273 |
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Posted 07/04/2023 09:58 am
