How quickly we forget the last big Gold MLM Scam: Gold Unlimited
January 22, 1992, saw the incorporation of Gold Unlimited, Inc. ("Gold") as a Delaware corporation based in Madisonville. David Crowe served as the sole officer and director of the closely-held corporation. Martha Crowe acted as office manager for the corporation, which employed a total of 89 individuals over four years. Undaunted by past troubles, the Crowes offered the public the opportunity to participate in Gold’s "Gold Earning Program"
("Gold I"). Participants paid $200 toward a $400 gold coin; by recruiting new investors, the original participant earned commissions toward the cost of the coin and could earn cash commissions. At trial, Gold’s corporate attorney,
William Whitledge, admitted that this plan was "pretty much identical" to AGE’s plan, and the South Dakota Division of Securities Enforcement agreed, calling it "almost identical" and enforcing against Gold the cease and desist order obtained against AGE. In April 1992, the Kentucky Attorney General sued Gold, and the Hopkins Circuit Court enjoined the Crowes from operating Gold.
In the opinion, Judge Charles W. Boteler found that Gold I emphasized recruitment of clients, not sales of products, and thus constituted an illegal pyramid scheme. In October 1993, the Crowes and Gold signed a settlement agreement with the state, agreeing to pay restitution to Gold I’s participants and submitting to a permanent injunction against operating pyramid schemes and making unrealistic earnings claims. On October 18, 1993, David Crowe pled guilty in an unrelated criminal proceeding to a state charge of false advertising stemming from his activities with Gold I. He received a suspended sentence.
According to MLM Watch Dog and Expert, Rod Cook, MLM Gold programs have a 0% chance of survival…
"Gold based product = 0 out of 70- 80 gold MLMs survived in U.S. since 1990"
Not looking good for Numis.
Numis is not a stricttly gold and silver company. The value add comes from the collectableness of the product. Research the company, the market, and the product before throwing out the baby with the bathwater. The same coins we have for sale at http://www.shopnumis.com/johannes are more expensive almost everywhere else. Cheers to success!
Actually, there really isn’t a “collectableness” to any of these coins when being distributed to the company masses. Just call any company that buys metals and ask them how much they would pay for these coins. Across the board it’s a dollar or $1.25 over spot…just like bullion pricing.
Collectableness is not a word.As fake as this opportunity.
This Numis Company just makes me laugh! ..I’ll give it 1yr tops til SHUTS DOWN.
One year is generous Johan!
People that are truly looking to build there assets
are not looking to buy assets such as coins today and
tell to the refiners on tv or pawn shops tomorrow.
As with any collectible item the condition, grade, certification,
authenticity, etc must be considered.
Check HSN.com coin prices.
Same coins Numis sells.
Comparing a bullion coin and a MS70 graded and certified coin that
Numis sells is like comparing and old beat up Pinto that you
are taking to the junk yard to make a few bucks
to taking a original well cared for 1960 Corvette
to the Barett Jackson Auction.
Completely different classes of automobile and the value
of the Pinto is many times less than the Corvette.
Jennifer Kendrick
http://yoursecureincome.info
I can tell you this much if I can have ms70 grade coins shipped to my door on a monthly basis I am IN!
The idea of collecting silver “real assets” is a no brainer and attaching mlm to the mix ..there is no option but to jump all over it. that is what I did 😉
To take it to the top and develop assets instead of liabilities come join me.
cheers,
Vincent Cameron
Uh, You have to pay top dollar and the Rating company is not very highly reputable. It’s like Car and Driver ratings compared to consuner reports
sure top dollar but again your attaching yourself to network marketing and that is where the life long friendships are made and besides silver even at “top dollar” is a still a nice investment for the future. Its a great business to be in period.
We all understand the collectibles of the argument. The point this article makes and what must be understood is that gold and silver are not the run of the mill mlm product.
It is also not a Corvette.
There are a whole host of laws that apply to marketing gold and precious metals. Running afoul of them could easily result in SEC investigations, FTC trouble, or horribly federal charges.
All we are saying is, “We know you are good people. Be careful and be warned.”
Hey! My Grandma drove a Pinto!
It’s amazing to me that otherwise-intelligent people really are this ignorant about the difference between bullion coins and numismatic coins.
Go do a Google search on “2010 MS70 Silver Eagle” and you’ll find tons of NON-MLM companies selling these coins for the market value of anywhere between $89 to $200. Numis doesn’t appear to be the cheapest but they’re certainly as competitive.
The MLM industry has a bad enough reputation without people trying to disparage a company based on what some other company did 20 years ago that’s not even applicable. Companies like International Heritage and Gold Unlimited were trying to sell BULLION coins for grossly overinflated prices — just so they could fuel the comp plan. Some of them weren’t even selling coins; they were selling VOUCHERS for coins which is another big no-no in anti-pyramid law.
If you’ve got any critical thinking skills, get some facts. Go look at Numis for yourself and ask the obvious questions:
1. Are they selling graded numismatic coins? Or bullion coins?
2. Are they shipping coins or selling vouchers?
3. Is the price of their product in line with what the rest of the market charges for the same graded coin?
4. Who designed the pay plan? Who did the legal work for the company?
C’mon folks. Think for yourself. Don’t buy into rhetoric based on veiled agendas and illogical arguments.
It amazes me how otherwise intelligent people will completely ignore history. ZERO out of 70+ MLM companies that sold similar products have stayed in business since 1990.
I have over the years emptied my garage of juice, vitamins, power drinks, and skincare with expired dates on them. Most MLM companies operate on auto ship of their products. Sooner or later you get more than you can use or give away.
At the end of the year I will go to my garage and find 12 numismatic graded MS70 American silver eagles. I will not have an expiration date on them and I can sell them and get all, part, or more of my money back. the auto ship in Numis is less expensive than most of the MLM companies I have been in.. I would rather spend my money on money than juice, vitamins,power drinks and skin care any day.
Is there any way to appraise the value of the coins you get on autoship?
Or more specifically, has anyone done so?
Hypethetically speaking let’s just do a small comparison on facts. A $100 billion dollar industry proven through trials and tribulations, pre-tested before your measley little $500.00 even thought about investing in this once in a lifetime opportunity, compared to $145 billion dollar industry of the whole network marketing arena, so far Numis has roughly 5,300 reps. The last time I checked and got a smack of reality was filling out an application for a loan. I didn’t see a slot for a consumable, I didn’t see a slot for a free DVD Bootcamp and/or a Michael Myers training video but what I did see in the asset column was Gold and Silver. There are 3 types of people in the world today, the type of people that make things happen, the type of people who watch things happen, and the type of people that say “what just happened?” with that being said, keep your eyes on Wall Street and let the facts do the talking.
Reagrdless of mixed opinions…eBays average ANACS MS70 sold was $113… keeping it real with facts and numbers.
Thanks for the platform Ty..love your posts!
Multiple streams,
James Wehner
http://www.MLMonlinemagic.com
And when the price of gold, silver, copper etc. goes back down with a strengthening dollar and economy, then what?
I am a Contributing Editor to MLM-TheWholeTruth.com- read the article I just posted today about Numis- ‘Is Numis Network Really King Solomon’s MLM?’
http://www.mlm-thewholetruth.com/mlm-articles/is-numis-network-really-king-solomons-mlm/
Ty, you are right on!
Nice article on Numis Tricia. Always good to do your research before joining any business venture.
Funny this company is still going and it has been just over 2 years since folks said it would close down, and gold and silver have risen in price since then…