Got This Email Today From Mike's Coin's

You should check a lil silver history
http://www.kitco.com/scripts/hist_c...y_graphs.plx
silver went in 79 $4-$5 a ounce to $26 then fell down to 9$ a ounce pretty much over night
then back down to $4 a ounce a few months later

Not everyone lives near a place paying 19x alot of the country people dont live in big cities
jokingjoker in the price fall of silver mikescoins gets the bad end of the stick being he already names the price he is paying 15x and has to hold the coins till he ghets enough to resell
its a gamble he can win or even lose YES LOSE HARD TO BELIEVE BUT YES HE CAN
So he pays 15 for a morgan , and resells it for 20
You think he is gonna sell it over night to other buyers no

No they usually wait till they get 500- 5000$ then sell it to a buyer that pays spot or close

If it takes him 2 weeks to get 200 morgans in the mail at 15X each saved up for a bulk buyer
In 2 weeks alot can happen while he is trying to dump stock

another 9-11
another stock crash market loses 10,000 points in a week people loose money to invest in silver and get scared agian
a silver boom bubble like in 1980 26$ a ounce (peaj above 40$ ) down to 9$ a ounce almost over night
Silver could literally fall to 5-10-15$ a ounce we dont know nether does mikes coins or any coin buyer

Look at the charts from 1980-81
silver got to $48 for a brief couple of days trading then plumeted

its hard for people that are not old enough to have been effected by the last silver bubble or even realestate bubble to understand
WHAT GOES UP MUST COME DOWN
no way around it . Look at golds 1980 price 700$ a ounce 2 months later 400$
and traded for close to 350 all through out the 90's

then lets not forget billyjoebob that lives in northdakota 2 hours from a major city 80 miles each way
in his ol farm truck that gets 15MPG . He would spend 12 gallons of gas to sell his morgans at the silver buyer shop in the big city. Gas at almost 3 a gallon. If he had 6 morgans to sell at 15 each to mikes coins vs getting 19$ each in town , he still would be better off selling at 15x face plus he would not have to drive 4 hours round trip and have a check in his mailbox.

he is offering 14-16x face you dont have to sell

btw
mikescoins had 8335 feedbacks
105 negatives

Sounds like alot but its actually pretty low when you look at the totals

the postive sounds like good feedback
http://feedback.ebay.com/ws/eBayISA...&interval=30

look at his last 1 month some guy cried about 1.99 penny free shipped
another about paying 1.75 silver certificate

if someone buys silver at 18x face thats full spot
and the coin is only worth 18x face full spot

dont see how they make any money at all.

but bout the mikes coins 100neg 200mutal sounds like alot but out of what 8500 customers?

thats less then 3% unsatified people in reality 98.5% feedback for a volume seller is very good for ebay

But yes would suck to be one of that 3%

In his defense somepeople dont know what BU , AU even means
They will win a BU auction and expect to have a ms-67 coin worth $500 for $150
thinking they stole the coin
They expect a "uncirculated" quater to have no marks and be ms-67 fresh from a roll when advertised as " uncirculated"
when a BU can have quite a few marks from coin contact and blemishes and still be BU quality
just not a high MS coin

Prob with mikes coins is the mainly the ungraded coins and bulk lots ,

the auctions
" uncirculated silver dollars " that are not graded
"circulated coins " not graded
" BU coins" that are ungraded

the coins that were TGP graded and slabbed dont have any negative feedback
excpet shipping times. if you look at his postive feedback

Anyone who wants to pay spot for silver can hit me up, and his 3.00 for sliver clad I believe is fair.

mkfarm, I'd be more than happy to trade you silver for beef, but I'm guessing it would be too much of a headache to import it up to Canada :)



I shouldn't have read this post before dinner...

Money talks; I have no problem with him offering those prices. The real question with Mike is whether or not you would ever get paid.




I have 500+ buying transactions on ebay and I typically don't do business when sellers who are less than 99.5%. Frankly, anything less than that is a major risk. I do make exceptions if the deal is right though...

Had dealing with "mike".
Mom always said "if you can say something nice about someone, say nothing at all"
So I will definately say nothing about Mike's coins.

I buy and sell silver on a small scale. Let's just say I pay much better than Mike and still make a satisfactory profit.