Precious Metals Storage Scam: ‘Sorry, Delivery Is Not Possible’

http://www.youtube.com/watch?v=KVtDyAwR ... r_embedded

Apr 19, 2011

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Bill Cramer of St. Louis purchased 5000 ounces of silver back in 2003 for a spot price of $4.94 and stored it with an east coast broker. When he was discussing his holdings with his coin dealer, the dealer dared him to try and take delivery of the metal.

Bill took him up on that dare and contacted his east-coast broker requesting to take delivery of his supposed physical metal holdings, for which he had been paying storage fees for years. As you may have guessed, the broker advised him that physically delivering the metals was not possible