Skip to comments.Vanity - Walk into a bank, they hand you silver.
Posted on 06/26/2013 10:07:33 AM PDT by DManA
There's an ad getting heavy play. Guy says there's a loophole in the law. You can walk into a bank and they will hand you silver. Then they direct you to a web site.
I ain't going there. Anyone know what the scam is?
Well, with your excellent and overwhelming dearth of information I can’t understand your question.
I have a bird on my head..
Go to the bank and buy some rolls of Kennedy 1/2 dollars.
You might get lucky and get a pre ‘71, in which case you’ll be ahead.
there is no loophole. people are told to ask if they have any half dollar rolls and exchange bills for coins, and then expecting to see the bank has left olderhalf dollars that are either 90% or 40% silver in therolls.
success varies and you will morethan likely be unimpressed/disappointed.
I guess you haven’t heard the ad.
It’s likely predicated on old monetary policies. Back in the day, the phrase on your paper money used to say “This bill is legal tender for all debts public and private and may be redeemed at the Treasury for gold or ‘lawful money.’”
You used to be able to turn in cash for gold or other commodities of value. Now our system of tender is just a house of cards.
You can usually order Silver Eagles through a bank. I suppose that it would also be relatively easy to pay an internet middleman along the way if you choose to.
It’s not a scam, exactly.
If you order rolls of Kennedy halves, there is a small chance that some will be dated 1965-1972, which are 40% silver, and a tiny, TINY chance that some will be dated 1964, which are 90% silver.
It’s not a scam, just a way to get cheap silver. here is what they will tell you to do.
1) Take $100 and go into a bank.
2) Ask the teller for $100 in customer rolled dimes, quarters and/or half dollars. Notice, I said customer rolled. These are rolls that customers bring in for paper dollars.
3) Take the rolls home, bust them open and pull out any silver dimes/quarters (pre 1965?) and half dollars (pre 1971?).
Your haul varies, and the end result is you get silver coins at face value. Over the past 4-5 years it’s gotten harder and harder to find silver coins this way; it can be done, though.
I assume its lawyerspeak.
They say “no cost to you”. Well if you exchange bills for silver coins it’s not costing you anything but your not making money except in valuation fluctuations.
I read it on our local paper. I believe you will get a paper promise for silver (or gold or unicorns). There is no physical gold, no physical silver, but you can ride your unicorn when gas prices go above $40.00 a gallon. They will have your money, but somehow you have to feed your unicorn.
Nice tip. You actually are getting silver? About what percent of rolls contain some silver now days?
Thanks for the response. Makes sense now. Though I don’t know how they intend to make money with this ad. Anything to attract eyes to their web site I suppose.
Seems like none of you have heard this ad. I assumed it was national but maybe it’s just being played locally.
The minute you hear the word “loophole” (or “ridiculously easy trick”) the OFF switch should trip in your brain.
You’d have just as much luck raiding the trash at the liquor store of used lotto scratchers. I found a $100 winning scratcher in the trash, once. Some people are drunk when they buy scratchers and don’t even realize their ticket was a winner. LOL
Good luck with that. Bank managers are quite savvy about silver coinage and most of it goes out of circulation the moment it is deposited. I recall an incident 25 years ago at the bank next door to where I worked. An elderly lady deposited several thousand Morgan silver dollars into her savings account. Someone noticed the transaction and word spead like wildfire up and down the street. Everybody (including me) rushed to the bank to exchange our tens and twenties for "dollar coins". We were all told that the bank had no dollar coins, period. When I was in line you could clearly see them sitting on the counter. I later heard from a bank employee that the bank manager substituted funds from his own account to make good the difference and took the coins for himself.
IIRC, pre 1965 quarters were 90% silver, 10% copper and pre 1971 half dollars 60/40. like I said, everyone seems to be doing it these days. If you get a roll that came from the Treasury, via the bank you'll have about a 0% chance of finding any silver. Customer rolled, I've heard people getting $4-$5 face value, recently. Those hauls seem to be getter fewer and farrer between, though.
I’ve heard the same commercials.
I suspect his assertion is that you can walk in to a bank, give a teller $20, get two rolls of quarters, and find silver quarters in them.
I don’t recall seeing silver (pre-’65) coins in general circulation in DECADES.
I still don’t know the 5 magic words either.
#9 hinted at it. I see you’ve heard the ad.
Did you go to their web site?
I agree, it's a lot of effort for little return. Still, there are people that swear by it.
How on earth do you manage to avoid the ad???
I used to find "interesting" stuff - older coins, silver coins, silver certificates - fairly regularly, especially around Christmas time (that time of year when people clean out their sock drawers looking for change? I dunno). Over the last 5 years, though, I've found nothing, at any time. Zip. Nada. Not even Wheat Pennies, which used to turn up in my pocket pretty regularly.
So my $0.02 (pun intended)? If you want to go to the bank, get a bunch of change, and hunt through it ... go for it. But honestly, I wouldn't expect much.
“Weird trick” seems to be another magic phrase indicating a scam ...
If only you could time travel back to 1963 for two minutes and wisper something into your dad’s ear.
I have a tale from when I was a kid working the register at a burger place back in about 1975. I opened a roll of dimes, and every single one of them were from the 1910's to the '1940's. Opened another one. The same., Another the same. Ended up buying all the dimes, and 90% of them were Mercury dimes, many in near uncirculated condition. (4 rolls) for $20. Not a bad investment for a 18 year old kid back in the day.
Seems like none of you have heard this ad. I assumed it was national but maybe its just being played locally.
Their website doesn't even tell you the secret. You have to pay something like $40 for it. I think the five "magic words" are "I would like half dollars".
It's been a while since I've seen any silver coins in general circulation. Back when I was a kid one would occasionally pop up, but there's been thirty more years of people picking through coins since then.
There are also the wartime Jefferson nickels....those minted in 1942, 1943, 1944 and 1945. The silver ones I have on my desk have a “dull” look to them and there is a giant mint mark above Monticello. The two on my desk have a giant P over Monticello, for the Philadelphia mint.
These particular nickels are 40% silver.
I know, my dad had a coffee can of silver coin he collected over years (it was stolen).
no chance. sounds like a snakeoil salesman.
then I’ll be on their spam list.
Now that I think about it, I had an uncle that would ask people if they had any change. They’d give him handful and he’d pick out the silver and pay back in other coins. Said he was a collector. People thought he was quirky. This must have been 40 years ago.
So people have “got it” for a long time.
The guy who runs Stansberry is very, very, very fond of his own voice. He can talk for a sold hour and convey 30 seconds worth of actual information...
Protip: If you try to quit in the middle it will offer you a transcript, which can be skimmed in a few minutes.
I have seen it linked from several sources including in my email.
Employees at the armored car companies, I have been told, regularly scan the coins being sorted in hopes of finding silver dimes, half-dollars, and quarters. They pull those relics (of a better, vanished time) out of circulation.
One could walk into any bank, ask for as many rolls of half dollars as you can afford and pay face value. Then spend the evening looking at the edges and dates of the coins. Out of $1,000 one may find a silver piece or two.
If you’d provide a link I could participate in your questions but, barring that I don’t understand your “Loophole” question.
Happy to help and demystify the question.
Way back when the Hunts were trying to buy all the silver in the world I had a couple of rolls of silver dimes and I needed another motorcycle. I took the dimes to the local coin shop and they were offering 8 for 1. I knew that there were better deals than that out there and found 18 for 1 at a hock shop and traded. The next day silver plateaued and the offered ratios dropped pretty hard at the pawn shops. I bought my motorcycle with enough left over to change the oil and fill the tank.
Well, Brother, there was no link or any semblance of his post that would give rise to the peculiarities of his question
If you have a link I’d be happy to read it, study it and get back to him with my thoughts.
AS it is, I don’t understand his question.
My stepfather had a tobacco can of silver coin he collected over years (I stole it).
I recently heard a wild rumor about a major loophole in the U.S. retail banking system
One that enables you to get real, hold-in-your-hand silver from practically any FDIC-insured bank in the U.S. All you do is walk in, say 5 simple, but very specific words and according to this rumor you could walk out minutes later with a handful of silver, as part of a totally free transaction.
You dont even need an account with the bank where you want to collect your silver.
The claims Ive been hearing are absolutely astonishing.
Just listen to a few and youll see what I mean:
I was so excited when the teller told me to come get my treasure! I got 18 ounces of silver courtesy of UNCLE SAM!
Ive only been doing this for 8 months and have already found over 160 ounces of silver bullion.
On a whim I asked the bank at the local supermarket. And guess what? They gave me nearly 6 ounces of real silver! The teller was happy to get rid of it. Im hooked!
Now, just to make sure were on the same pageso you understand exactly what Im saying
Im not talking about opening a new bank account. Im not talking about getting discounted silver, or undervalued coins. Im talking about walking into almost any ordinary bank, and saying 5 specific words to any teller. Then, after a short, and free transaction, in many instances bingo walking out with a handful of real silver, which could possibly be worth as much as a few hundred dollars.
Hard to believe this could actually be true, right?
Silver, after all, has been one of the best performing assets of the past decade. Its up over 550% since 2001 and many financial experts are predicting it will go much, much higher.
But how, exactly, could this be possible, youre probably wondering?
Is there really a loophole in our financial system that enables you to get this incredibly valuable asset essentially for free? And is this illegal or possibly immoral?
I had these exact questions when I first heard this rumor. And thats why I launched an independent, nationwide investigation. It took me more than 3 months to complete. In this presentation, Im going to share what I found. In short, I think youll be amazed when you see what Ive uncovered.
My name, by the way, is Dr. David Eifrig. My friends call me Doc for short.
Im a financial analyst at an independent research firm called Stansberry & Associates. Our private organization is headquartered in the Mt. Vernon District of Baltimore, MD. Our goal is simple. We provide independent financial research and education on topics ranging from bonds, stocks, and commodities to real estate, options, tax liens, annuities and just about everything in between. Today, our group has more than 400,000 subscribers from more than 120 countries who pay for our research.
My area of expertise at Stansberry Research is unique. After a decade of trading on Wall Street and then another decade as a medical doctor (Im still a board-eligible eye surgeon), Ive learned the inner-workings of two of the biggest and most important industries in America finance and medicine.
Now I spend the majority of my time revealing a world of retirement opportunities and loopholes that most Americans will simply never hear about on their own.
And that brings me to this incredible silver loophole, which might be my most unusual find yet.
Of course, I was skeptical when I first heard about this idea that you could walk into practically any FDIC-insured bank, say 5 magic words, and potentially walk away with free silver.
So I came up with a plan.
First, I sent a notice to the people who read my work, and about 250 individuals from all walks of life and from all over the country were willing to give this silver loophole a try. I sent them instructions on where to go big banks, small banks, community banks, you name it. I told them what to do and, of course, what to say remember, the 5 simple words are critical.
Then, I asked them to share their experience.
Almost immediately the feedback started rolling in.
One of the first to respond was a man named Maury D., from Tyler, TX. Maury tried the 5 magic words at a Bank of America just down the street from his house.
He told me:
Doc, youre a genius! I never thought this would work. But it did! I tried it, and to my surprise, I got 34 silver coins from a single bank. Needless to say, Im going back for more! Thanks for the great idea!
I also heard from a guy named Charles D., from Cincinnati, OH. Charles tried the 5 magic words at a small Credit Union in his hometown. He told us:
I went to a local Credit Union and got 10 free silver coins. This is a pretty good idea. I will spend tomorrow going to other banks Thanks a lot for the great idea.
Ernie and Norma McDonald, from Sarasota, FL used the 5 magic words at a small bank near their home. Heres what they had to say:
My wife and I bank at a small community bank and actually own stock in the enterprise, so were known by all of the local staff. We stopped in one day and, while making a deposit, were able to get 7 of these silver coins.
We even tried this out for ourselves at a PNC Bank a few blocks from our offices in Baltimore and got 5 free silver coins.
Now, I know what you are probably wondering
How often does saying these 5 magic words actually get you free silver?
Well, from my experience, after observing more than 250 people to try this technique in dozens of banks around the country, I estimate that if you go to the right banks (Ill show you which ones), and say the right words (again, Ill give you the specifics) it works about 25% of the time.
So, youre going to have to do a little legwork to get this secret to work for you. But remember, this is basically FREE silver we are talking about here. If you are too lazy or too busy to do a little work to get something as valuable as silver, essentially free of charge, well, Im sorry, but you can stop reading right now.
And heres another thing you need to keep in mind: The reason this works is because most Americans (including the people who work at banks) have no idea how this loophole works.
But eventually, word will get out and this opportunity will end. That could be a month from now or 2 years from now. I believe we probably have at least a 1-year window of opportunity to take advantage of this secret. That is, unless the price of silver shoots up in the next few months and this idea all of a sudden becomes VERY popular.
The important thing to remember here is that once the word really starts to spread, I expect this free silver will become increasingly difficult, and eventually, almost impossible to find.
In other words, this loophole is closing and exactly how fast it will close is impossible to predict. Opportunities like this dont stick around forever. Those who act sooner will undoubtedly reap the best results.
So, if this idea interests you, I strongly recommend you consider it carefully, but act swiftly.
Heres exactly what you need to know
This was a popular trick back in the 80’s when the Hunt bros. were scamming silver. It’s used up now.
Uncle Joe was doing it in the 60’s.
There have been some silver coins in circulation for decades, although they are steadily drying up. Many young people have no clue about them. My wife has been a restaurant cashier for many years and has brought home a number of silver coins handed to her by customers. One customer, an urban Amish type, paid for her hamburger with a nice 1921 silver dollar! I figure stuff like that has been reintroduced into circulation from stolen collections.
Stories like yours kill me.
My sister was a bank teller around 1965. Her manager told her to pull all silver coins aside during the days transactions. He would then buy them from her. She knew what/why he was doing that, but she was a college student and couldn’t afford to do the same thing. Dang.
An addendum to my story: my employer at the time was a coin collector and a bigshot cutomer at said bank. He tried everything to get those Morgan dollars. Threatened to take his business elsewhere, offerred twice the face value, ranted and raved, etc. It was quite entertaining to watch the boss pitch a public hissy.
My mother used to have a shoebox half full of Morgan dollars with the Carson City mint mark. She had an uncle in Reno and every year on her birthday he sent her a number of coins equivalent to her age. She still had them when I was a boy, but alas! she sold all but one of them for a pittance at some point in the interim.
Back in the '70s the tale was told of a guy who sent the Feds a $20 bill saying he wanted to redeem it for "lawful money". They sent him two $10 bills. He asked them how repaying one IOU note with two was legal. No answer. It didn't take 'em long to remove the "lawful money" quote.
[Sidebar I]: When I was a kid, the Big Snicker was to ask what a sailor looked for when on leave. When nobody could answer, we'd fold a bill with the above notation so that it said "gal tender and legal". A real knee-slapper.
[Sidebar II]: The old gold/solver backed currency were really just warehouse receipts that you could cash in any time. When I first read their legend, I swore it sounded like something coming down from the Mount. (Read the fine print at the top and bottom):
I used to “exchange dollar bills” for silver bars at a bank near where I worked.
No big secret or anything, they just sold 1 oz silver bars at the current price of silver. I would buy them as gifts for my wife, birthday, anniversary, etc.
Silver coins can be easily sorted from clad coins by automated machinery ... The silver coins and the clad coins make different sounds when dropping through a coin op mechanism... I found silver in the “reject” bin at one of those automated coin sorter machines they place in banks and some retail stores... falls right through even though they are the same dimensions.