As with most multi-level marketing companies, Numis Network purports to offer a business opportunity that can generate high earnings for an individual. The “product” being sold by Numis is collectible coins. As an investment, gold and silver coins have values that are fairly easy to determine with a few minutes and an internet connection. The value of a “collection,” however, is not so easy to assess. The value of a “collection” varies from owner to owner, so it is hard to put a price tag on it.
Numis Network is careful not to call its coins investments, as that creates regulatory problems in addition to the ease of objectively valuing the investment (and coming to the conclusion that Numis is not the place for a serious coin buyer).
Indeed, the coins being sold by Numis appear to have values lower than the price for which they’re being sold. A quick examination of websites like eBay, Gainsville Coins, American Historic Society and American Precious Metals Exchange all sell the MS70 Silver Eagle coin, the most common Numis product retailing at $120 and wholesaling at $100, at or below the wholesale price at which Numis representatives pay.
There is little focus on the actual selling of coins. In fact, it’s difficult to find a Numis Network representative site from which to actually buy coins unless you already know the web address for the site. Searching Google for a site from which to buy the coins is almost futile. Almost all the search results point to sites which are selling the “business opportunity” instead.
The Numis compensation plan is incredibly complicated, boasting payments for binary downline cycle bonuses, enroller organization matching bonuses, coded organization matching bonuses, and Fast Track Collector Bonuses. There is a dizzying list of qualifying activities and bonus percentages, all tied to configurations of downlines.
A basic membership package for a Numis representative costs $75 plus $10 per month. This entitles the representative to wholesale pricing on coins, potentially offering an opportunity to earn money by buying coins at wholesale and selling them at retail. However, based on the fact that the retail price of the MS70 Silver Eagle is at least 20% higher than the most expensive alternatives we found and more than 100% higher than the least expensive alternatives we found, it seems unlikely that anyone will be able to generate a significant or sustainable income from selling coins.
The company promotes bypassing the Basic membership, and instead purchasing the “Training Qualified” package, which costs $495 up front, plus a $99 per month “autoship” of one MS70 Silver Eagle Coin. This package will cost the representative almost $1,700 in his first year.
Representatives can initially qualify for “bonuses” (payments from the company for things other than selling coins) by recruiting or by purchasing the “Executive Success System.” To actually receive the bonuses, a representative must personally purchase 1 to 3 Silver Eagle Coins (or the equivalent value of other coins) at the preferred price of $99 each, and these purchases must be made each month.
A hallmark of an endless chain recruitment scheme is the ability to buy one’s way to higher levels of commissions. However, Numis is quick to point out that no purchase is necessary to qualify for compensation. A representative with qualifying volume achieved through customer sales can receive some bonuses. However, to receive all potential bonuses, personal purchases are required. One might suggest that those personal purchases could easily be re-sold to customers for a profit, but as discussed above, the likelihood of making consistent sales is low.
How much activity will it take to recover (through bonuses) the $1,700 a “training qualified” representative will spend in the first year? The cost averages to $142 a month, not including any other costs a representative will incur in running his “business.”
The company bases bonus payouts on a BV (bonus value) for each coin sold. The MS70 Silver Eagle coin has a BV of 60, and the company says that an estimated 10% of that could be paid as bonus, for $6 bonus paid on each of these coins sold. However, the bonus money is only paid on part of the representative’s total BV. The representative has two legs to his downline, and the bonus will only be paid on the BV total of the leg with the lower number of points each month.
At least 24 coins per month must be sold in the representative’s weakest leg to generate enough to cover the minimum costs of $142. This means in total, the representative’s downline must sell (or purchase themselves) at least 48 coins total (24 in each leg) to give the representative a chance of even breaking even. Additional bonus money could be earned in a variety of ways that only an algorithm can compute, but these require substantial recruiting of representatives who make monthly coin purchases.
The compensation plan is not nearly as simple as this, however, and many variables can prevent the representative from recovering his monthly costs. Numis Network brags that representatives can earn money from an unlimited number of levels below them, however, the company has a broad policy that limits bonus payouts to no more than 50% of the total company BV.
Since the coins sold by Numis Network appear to have little retail appeal to true customers, the only way a representative can hope to make money is by constant recruiting. The representatives cannot rely on retail sales of coins, so they must rely on the complicated methods of calculating various bonuses for the recruits in their downlines. The only hope for a representative lies in recruiting an endless chain of representatives.
[…] participated in the investigation, giving my opinion on multi-level marketing company Numis Network (which also sells gold and silver coins), and investigating the prices charged by competitors of […]
[…] am not saying that it is a scam. (I will leave that to those that have more expertise than me — click here) However, using it as a method of collecting coins and as a business opportunity has me shaking […]
The company promotes bypassing the Basic membership, and instead purchasing the “Training Qualified” package, which costs $495 up front, plus a $99 per month “autoship” of one MS70 Silver Eagle Coin. This package will cost the representative almost $1,700 in his first year.
I’m not a Numis member but what you state above is misleading. By the end of the first year you would also have 13 ms 70 coins in hand worth around $1,300. So in truth you would be out around $400….an thats if you did nothing to build your business. I have a few 1997 ms 70 silver eagles that I bought back in 2000. How much are they worth now? I’ll bet a lot more then I paid for them. Whats a 2009 ms 70 going to worth in 5 years? With today’s fiat money who knows…….but I’ll bet it will not be less!
[…] just found that was written by Tracy Coenen. Another thinly veiled pyramid scheme: Numis Network Another thinly veiled pyramid scheme: Numis Network : Sequence Inc. Fraud Files Blog Since the coins sold by Numis Network appear to have little retail appeal to true customers, the […]
LOL @ Tracy Coenen… what a DONKEY. She does not know ANYTHING about MLM.
Stop givng the Industry a bad name you idiot MORON!
Wow, how very eloquent 🙂 Typical cultish behaviour being exhibited LOL
Mr. Mulligan: I foresee a writing career in your future when you fail at your fifth or sixth MLM.
1. Your ad hominem attack is “redundant and superfluous”.
2. The MLM industry already has a bad name and reputation, thanks in no small part to people like you.
This has got to be the funniest post I have seen all year. If you truly knew what you were talking about, you would of never posted this blog. Secondly, as I go thru the rest of this blog, I see you pretty much hate MLM period;) Well, this industry has created more millionaires than any other industry on the planet, PERIOD!! With that being said, what do you do??:) I am the top recruiter in Numis Network and happen to know the owners personally, and I know for a FACT that it isn’t a pyramid scheme. I also know SEO very well so Im going to go ahead and warn everyone reading this post, especially my reps. DO NOT COMMENT ON THIS VERY UNPROFFESSIONAL BLOG POST ABOUT NUMIS NETWORK AND HELP THE SEO RANKINGS ON THIS NONSENSE— BECAUSE THAT’S EXACTLY WHAT IT IS. To the author, if you are true to your word, let this comment stay on your blog so everyone really knows what you are doing. If you would like to contact me directly and find out the truth about Numis, Im not hard to find. I left you my website which has my direct number, feel free to use it. Don’t send me an email, call me— I LOVE THE PHONE, EMAILS AREN’T VERY EMOTIONAL;)
WOW – the truth obviously does hurt. How infantile and emotional 😉
MLM Scammer is the perfect name for the guy above. Douchebag would be another one.
This guy rails about Tracy criticizing MLMs and then says, “what do you do?” Well, idiot, read the About the Author that is in the right hand rail. What are you, retarded? She’s a fraud investigator, among other things, exposing those that pimp the MLM business like yourself.
You’re the top recruiter on Numis and you know the owners? Hmm, I wonder if you’re going to be objective? Geeeez, anybody with a functioning brain understands that you have everything to lose by having this scam exposed. Try thinking before you expose yourself with stupid reactions and showing your ignorance. In fact, I hope you’re not trying to remain anonymous because by stating you’re the top Numis recruiter you’ve just given away who you are, so why not just tell everyone?
As a coin collector, these guys make me sick.
This is THE BEST blog post I have ever read on The Numis Network. Tracy hit the nail square on the head on so many points. Of course the #1 Top Recruiter in Numis (MLM Scammer) is going to defend the biz opp. They ALWAYS do! So this guy knows the owners personally? Big Deal! What does that prove? That is supposed to validate that they are honest and have integrity in present and past business dealings and successes?. All that suggests to me is that the owners are really good at convincing heavy hitters and top earners in MLM to join them (in their inner circle) and to recruit other people to fork over their hard earned money, so they can supposedly get rich…just like the top producers and owners. Yeah..OK!.
All this biz opp really does is It tries to convince it’s distributors to sell some overpriced hyped up program for bonus and residual money (at the highest level of course…never the basic level).) And… Instead of pushing some lotion, potion or pill as a flagship product, Numis network has very cleverly chosen to offer gold and silver coins thinking that more people will sign up because of the claims of accrued value that product will produce over time and how that would be a smart thing to do in our current economy! Because of people’s desire for the perfect work at home business opportunity and how a lot of people have “dollar signs in their eyes” instead of truth in their thinking, they are being duped and reeled in… hook, line and sinker. GREED IS GOOD right?
I also saw a YouTube video on Numis from a REAL coin collector and I thought it was funny how he basically said that the TRUE value of the MS70 silver eagle coin was currently between $17.00 and $21.00 if you were to buy it from a private mint slightly above the “spot” price. Numis offers them at a discount (lol) to their distributorship for the over inflated price of $99.00 claiming they are getting a deal of great value? Just more proof of how MLM leadership profits off the back of their own distributors, in the lower ranks.
It was also hilarious how he stated that just because you put the coin in a sealed plastic slab and stick a holographic image of the rating info on it, then THAT is why they can sell it for $99.00 because THAT is supposed to give it more value? Are you kidding me? It’s the SAME COIN with or without the plastic (and the MS rating) (Which BTW he also stated was not accurate)! And…The coin is only one year old! What kind of coin accrues that much value is only a year old (2009-2010). If it were a 1919 coin the yeah (Cha-Ching)…but they call a 2009 coin a collectible? OMG! Hey, I have got a 2009 quarter,. You think if I put it in plastic and slap a rating label on it, I could sell it for $99.00 (or more?)
BTW…Any serious collector of precious metals knows the TRUE value of gold and silver and won’t give anyone hundreds (or thousands) of dollars for the collector market price. I saw people trying to re-sell these silver coins on eBay (because they are collectibles right?) and the market there is already over saturated with everyone trying to undercut every other person’s price and driving down the value of the coin.. And… If the economy does go south and we go back to the Gold standard, I promise you their distributors will be busting out their slabs trying to sell those coins (shaved down or melted) for whatever they can get. to buy food and pay bills. And they will only get the TRUE ACTUAL value of the coin and NOT the collector’s price.
I applaud you Tracy for writing the TRUTH about Numis in spite of what some others might think. I advise that If you are going to invest in gold, silver and other precious metals, buy them from a private mint and store them in a safe in your home or a safety deposit box in a trusted bank ( that has not gone under or been bailed out yet.) . You won’t get the lucrative bonuses of cash (for recruiting other people) promised by these MLM biz ops, but you will have peace of mind and a real treasure that has accurate accrued value for years to come to benefit your family and possible you future income.
Ken you said…
“So this guy knows the owners personally? Big Deal! What does that prove? That is supposed to validate that they are honest and have integrity in present and past business dealings and successes?. ”
Why dont you do your homework on the owners of Numis Network and there past business deals. Also, when you say that there just putting plasctic over the coin that is not the only thing they are doing. It goes through a grading proccess which determines the value of the coin. A mint condition 69 mustang is worth way more than a beat up 69 yr mustang.
Obviously Jimmy, you’ve been sucked into the Numis vortex. You are definitely a prime target for the MLM snake-oil sellers, but hey, it’s your time and money and this is America, so you can do what you want.
On the flip side, Ken and anybody else has the right to expose these ridiculous pyramid schemes for what they are. They get clones like you to buy into their binary downline BS and laugh all the way to the bank. They’ll tell you that you’re “awesome,” the gold coins are “awesome,” and this is an “awesome” opportunity. … Yes, MLMers LOVE to use the word, “awesome.” And don’t forget that along with your overpriced coins, be sure to purchase all the overpriced guru mastermind network marketing bullshit CDs, books and seminars that will lead you to your fortune. If you haven’t already guessed, this is where these Con men and women really clean up. “Yes, please, I’d like your eight-CD set for $300 so I can quickly understand if my prospect is a Lion, Owl, Monkey or a freakin’ Duck-Billed Platypus!” … “What? If I think positive I’ll be a success?” Great advice, Einstein. Thanks. Well worth the money.
Anyway, when the well of new clones runs dry, this company will collapse faster than a Haitian building during an earthquake. Don’t fret, though. If you last two years, you’ll have roughly 24 “graded” coins you spent about $2,400 on and I’m certain you’ll be able to recoup about 20% of that. Or maybe you’ll get lucky and unload them on some retard on Ebay.
Best of luck.
The truth is Numis, is a company that will have a very short life spam. Thought the owners are very well versed in MLM website address idstc (dot) com/. So who is that top recruiter, his name is David Wood.
If you check Numis Network (dot) com on Alexa (d) com traffic site you’ll see traffic is down for the last 3 months. How could that be possible with their promotion where you get a coin for the basic $75 entry fee. At the end of Oct. it went back to $495 to get a con. So, why is that???
If you check ebay you can buy the Silver Eagles MS70 as low as $45 depending on who graded the coin. I saw one for $55 MS70 graded by PCG First Strike. If you’re paying $110 with shipping per coin you can’t sell them and make money. You can only make money of recruiting other people.
David, has created his own tool business within Numis. He is offering his reps his marketing tools at $20/wk! Yes, that means if 1,000 reps take advantage he’ll pul in $20,000 weekly on his tool program. He learned this from his Amway days. (This is a straight up pyramid scheme)
All because fewer people are failing for the scam. One guy on eBay is selling the coins in lots of 10 for $450 all MS70.
Every opportunity call I was on the reps break the law by talking about the coins as an investment. They say things like “what will they be worth in x years as did the poster “Anthony” above.
I suggest filling complaints with the FTC & SEC. MLM is a great industry and if more people joined we could strength this company. But….. we don’t need scams such as Numis.
Right now, in Tampa, Numis is targeting residential home builders, commerical and residential real estate brokers, contractors, etc., who have lost their careers since the economic downtown. While there is nothing wrong with paying for collectable coins, wouldn’t it make sense for a collector to buy and sell on his or own terms and not just pay $100+ per month, sight unseen, for an “autoship” coin?
The real money in this MLM is to get people in your “downline” but since you do not get the income for everyone on your downline, based on their binary pay set up, it looks like this will soon cool and the momentum will slow down. Just my $0.02.
if the author is positive that Numis is committing fraud then she needs to report it to the authorities
Mike – The word fraud doesn’t appear anywhere in the article.
Great article Tracey, just a shame all the balanced reviews of Numis get hijacked!!
I am not a Numis collector and I’ll tell you why.
I was introduced to Numis as a great opportunity to develop a wealth mentality, rather than a poverty mentality. Always good to have a positive outlook as that’s how you find the great opportunities, the ones that fit you, that you enjoy and you want others to enjoy. I’m a salesman at heart, but i’n order to sell my heart needs to be i’n it and in order for that to happen I need to believe i’n the product. So I thought I’d go along and have a listen at the launch.
I have a bunch of friends who are either private investors both i’n shares or in gold and silver, or trade for banks, so I can get a pretty broad view of what’s going on at various levels of investing and especially currency. What i have learnt is that it’s not a bad thing to invest, just know what you’re getting yourself in to and manage it.
Numis is def causing some interesting debates, I’ve read many, although not very easy to get a fair and balanced review, something which I believe is skewing the perception of the general public. This is an interesting tactic as free speech has been hijacked for propaganda…seems to be a common theme everywhere at the moment!!
In their presentation Jake and Chris talk about their product, it’s quality, their
partner mike mezack who sells $100m worth of coins a year on HSN and how if the coins weren’t what they say they are you’d soon hear about it on the web.. Well you can’t, unless you go rally digging, it’s all just tied up in the same old stories. I did find some complaint tho about the products mike mezack is/ was selling on HSN in that a number of ms70 coins sent for regrading by a different company actually came back as ms69 or lower… I’m not saying this is the case with all the coins but I wonder how many have been independently verified for accurate grading… So this caused a little concern.
Next i listened to the presentation, there’s a lot of stats and if you’re not really interested, listening or they just go over your head then they sound great. Numis is / should be sold as a collectable coin, nothing more, and infact Numis uses the fact that there are millions of people out there collecting rubbish, I think beanie dolls was the example. The thing for me though was that like any sales presentation you can make any stat sound any way you want especially of you have 30 years experience. An example would be to show the difference of spot price solver in 86 to the value of an 86 ms 70 coin. Arm bells ring for me when 20 mins before they tell you these coins weren’t graded pre 96. So how can you possibly compare the two ? For starters the mintage of the 86 coins was lower than say a 2009/10/11 and as not graded then it’s bound to be harder to find the perfect coin or set of coins. Now I’m not saying that both have not made money, they have, but you just can’t make a direct comparison to back up your claim of numismatic coins being a better bet at that point.
Further the presentation tries to move away from directly saying these coins are an investment by using the term asset. It also says if you’re going to collect then why not have a garage full of coins. Most countries wish they had this themselves right now. So Collecting’s cool, coins are cool and get yourself a garage full… Again I find this misleading or should I say brainwashing, maybe slightly hypnotic. It all sounds great if you aren’t actually questioning a) what you’re buying and b) what you’re selling.
I was i’n a room with 70 people and was the only one who asked anything slightly past the surface about the product!! Most others were interested in how much they would get paid and more importantly when.. Every Friday?? They were taken in by the shiny coin stuck in a plastic box they’d never get to really touch.
I’ve been called negative, but after being i’n business for years I’m just doing my due diligence.
So back to product, you’re not really buying ms70 coins now to be worth more than what you paid for them you’re really gambling on the currency Market of the future, and as was highlighted in the presentation they are looking very shaky. If you had $2500 or equivalent coins i’n the 60s you could buy a new mustang. Now with those coins you could buy 10 and a holiday, apparently. Ignoring the fact you would have already gad to be wealthy to afford a new mustang in the 60’s anyway. So alluding to the fact that silver and gold is a good investment ignores the fact that prices have been quite volatile over that same period, not to mention heavily influenced at levels that the average person will never understand let alone be able to influence!!!
So Jake and Chris tell you the coins value are based not just on the metal quantity, but their grade and mist importantly supply and demand. Now nu
Is is generating demand and Therefore increasing supply. They are creating demand by building a closed network of investors that, as it grows, will demand more of the coins they missed out on before they joined… This is no different to other businesses you just gave to appreciate it for what it is.
So you’re collectable assets are a good investment.. Especially ad the markets look bad.. Hmm you’re coins are being collected, but not by serious collectors, who would rather have the opportunity to find rare ungraded coins than high mintage new coins. But I hear, its good to hoard gold and silver invade of serious Market collapse. Mmm 1 coin a month, even the odd box set isn’t going to save you if the markets collapse. If that happens you will need a bit more than a few coins..you’ll probably need the 3 x ad much bullion you can buy for the same price, and that’s conservative. If the markets do tank, then supply and demand comes In to play. No one is selling at the moment, as they’re holding on, but if it does then you’ll wanted to get liquid, dump you’re precious assets and have whatever the new cash Is i’n your pocket. At that pint the coins are no longer collectable, supply will be through the roof and it’ll be a buyers Market, but at spot price, cos if things are that bad then no one will care about a 2010 silver eagle!! So beware your collectable assets..
I am by no means saying don’t collect silver or gold and if you like the coins then buy. But think, if you weren’t earning commission would you buy these coins? Or would you buy ms69 or bullion where you can get 3 or 4 times ad much for your money.
Numis does have an amazing comp plan, but again i do ask you to think how can they afford to pay this out if the product is worth so much!! I don’t have a problem with margin or making money or some making more than others. Just remember you are customers first then a hungry pot-active go get em sales force, selling to make your bosses richer, and so you should cos they brought you this great opportunity, 5 cruises a year, a silver BMW and more money than you know what to do with!! But that’s all part of the problem and illusion. Most people getting in to this are probably struggling and are because of the current greed and need for more in society in general. The new car every few years, all the gadgets, holidays, clothes etc.. This doesn’t help strike a balance its putting it on steroids. It uses a
Mixture of fear of financial collapse with the veil of being a leader, wealth generator and having financial success with a garage full of coins. It’s feeding the beast but as has been pointed out this isn’t a robin hood story ( stealing from the rich and giving to the poor).
Most people I know, my circle, friends and family wouldn’t touch this and for many different reasons. Some cos they’ve collected before and learnt, some because it’s an mlm, a pyramid. Some because they don’t believe it’s that easy, some because the think it’s a risk a gamble and nit an investment… But they all say no when they hear silver attaché case and a cut crystal memento…
Numis will make money, no doubt. Who from tho, the poor and vulnerable, you? There are wealthy people investing, but with experience and wealth they are buying up the real assets, the in short supply older mintages, as for everyone else it’s like chucking your money in a bug pot taking out some coins that may be equivalent to what you paid, down the line, and fighting each other for the rest.
The best advice I’ve heard is if you have the money to invest then make sure you have no debt, a roof over your head and food in your mouth. At that point consider if you didn’t make a commission would you buy the product or look elsewhere. Answer these questions for you and then make your choice. Then if you’ve asked the question of yourself ask if the person you’re selling to has made the same informed decision, as that is the strength you need to sail a safe course, not decisions based on fear, whatever that fear maybe.
Good luck. I hope you do your research and think about what you’re buying And selling and know it for what it is and not what it isn’t.
Great site,needs to get more exposure thou,the net is filled with fake reviews of Numis by their Reps.
I read through all the comment’s and my experience pretty much reflect what been posted. Any question or criticism about Numis (or mlm’s) is met with rude and nasty reply’s by those that are involved (any wonder why mlm’s get a bad rap-along with the over 99% in them fail to make money)
I was contacted by a Rep named Charles F (in Montana),when I posted an add seeking a business with a history of strong cash flow(apparently they are trolling the internet for prospects after burning the family ,friends bridges in other failed mlm’s). When asked about business he was very evasive -first clue mlm. When outed he turned nasty claiming that my children would not be provided for of I did not take advantage of the “investment” potential ( a clear violation of SEC rules and yes I will be filing a complaint).
These mlm “junkies” need to learn to back off the low class cold call sales tactic’s,just because they have been taken,for most yet again,they need to understand that the general public will not fall for buying “collectible coins” at a 50%+premium to true value (they made millions of the these MS70 Sliver Eagles-collectible? NOT !).
Again,enjoyed the thorough research and objective review of Numis Network,as expected by their reps sales tactics,its a big NO SALE !
I have been involved with this organization in the past, especially with Ian and Chris. I became dissapointed after learning about some of their illegal activities. I have personally seen the manipulation of genealogies to position friends & families at Numis…
[…] dedicated to outting fraudulent activity which may be slightly bias. However, Tracy Coenen’s piece on Numis breaks down the company’s complex system of bonuses, payouts and such: “A basic […]
You are buying coins that call you a “member” to sell them to others, even though we live in a electronic banking world. Numis has bankrupted two people that I know, but I dont blame Numis. I blame the people that fall for it.
Undoubtedly many more will lose their money with Numis once caught up in the autoship trap they push on those thinking they will be rich convincing others to join them.
Only the very few at the top will make money,just like all the MLM’s ,the rest,99.8%, will waste time and money !
I have a personal experience to share about Numis Network.
Naturally, for someone who has no previous knowledge of numismatics I was hook, liner and sinker for the deal. After I had this incredibly expensive ‘Fast Track Collector’s Kit’ I saw quickly that most people flat out are not interested in buying $100 coins. So, I decided to take advantage of the 1/2 money back guaranteee within 30 days on the case. Which means I was willing to take a $275 loss which in my opinion was crap as it is. Also, I had purchased 3 other coins at the retail of $300. On those I requested a refund within 10 days and so was ‘promised’ a full refund. I sent my package to them with all of these items in it, together. I packaged it EXACTLY how they asked me to do it. Ends up, my coins were ‘stolen’. Numis network claims that it wasn’t an internal theft, naturally. I filed an insurance claim with USPS and now I can’t get Numis to call me back because now it’s on them to take my package and report it to the post office. They claim they have video footage of my package arriving, yada yada yada but won’t send it to me. Coincidence?! I think not…Oh, and did I mention that they sent my $220 seperate from the other refund to my CLOSED bank account supposedly and I’ve provided them proof that I never received the money and now I can’t get a response from them. I’ve been dealing with tis for about a month now and honestly Numis Network is the WORST company and customer service that I have ever dealth with. They can take their coins and my $800 that I spent and shove it!
I’m going to call and bug them though until I get some form of acknowledgement that they have ripped me off! Best believe. =)
Easily the best summation of Numis on the net, Tracy. A thanks to you for putting this elaborate scheme into terms that one can easily see the facts.
To me, it breaks my heart as I am currently watching a kind and honest friend fall for this hook, line, and sinker. As I write, he is at an “empowerment” conference in CA watching people experience “life transformations.” That’s all well and good. In the meantime, I just hope he isn’t blowing thru his life savings on his new religion, while waiting for his “free” cruises and massive, passive income.
The first red flag for me was realizing this is a business that doesn’t really want to sell it’s overpriced product (coins). After requesting more info about buying $2k worth of coins on his numis “website”, it took 3 weeks to hear back from him. No sale! Clearly, selling coins is NOT the goal here. They are selling an illusion–a perfectly confusing mixture of fear, greed and prosperity–to well intentioned but obviously very gullible people.
Interesting. Although, keep in mind this article was written over 2 years ago and Numis is stronger than ever, and I am not sure if it is any different now.
Apparently Numis has recently hired a marketing guru – I think his name is Larry Johnson who supposedly pulled Herbalife out of a mess quite a few years ago and took them to a billion in sales and now intends to bring huge sales volumes to Numis and is teaching how to network marketing. I love Herbalife products and have been invited to look at Numis by a dear and trusted friend. However I have not been able to commit to it 100%. Most of my thoughts have been similar to what was brought forth in this article and/or the related comments above, both pro and con.
One thing this article misses is that Numis has a 5 year guarantee that they will buy back all your assets after 5 years at the price you paid for them. It is hard to say what will happen as they have not been in business for 5 years yet and who knows if they will still be around or if that is when it will fall apart when most people try to cash in at once???
FYI from the experts who say that buy a Numismatic coin today and try and sell it tomorrow – you probably will not be able to give it away 🙂 Numismatic coins are traditionally rare or special coins but the experts will not trade in coins –
http://goldsilver.com/article/six-precious-metal-scams-to-avoid/
Make sure you focus criticism on Numis the company and not the product.
Quoting biased observers and claiming “you probably will not be able to give it away” shows a lack of understanding of the marketplace. I refer to the posted article
which bashes all forms of gold and silver accumulation except those that they sell. Wow, I wonder why. Even a cursory evaluation of the article shows that this is a slanted review..
http://goldsilver.com/article/six-precious-metal-scams-to-avoid/
Here is a balanced opinion from another company in the same business. This company sell traditional bullion as well as numismatic coins. This article explains the difference and why someone would want perfect coins in their portfolio.
http://www.coin-rare.com/ms-70-coins.aspx
How about the pricing and value? Perfect coins are worth as much as 60 times the value of “regular” coins. Please refer to the pricing done by PCGS. This independent company is one of the most respected coin grading companies in the world.
http://www.pcgs.com/prices/PriceGuideDetail.aspx?MS=1&PR=1&SP=1&c=939&pf=1
I’m posting to let you know how desperate they have become. Somehow, they got into my email address book and spammed a link to their website to everyone. That sure sounds like the actions of a legitimate company to me.
Hi Tracy
Interesting article, I invest in the stock market full time and also gold and silver bullion….you know the real stuff that you buy in large bars, not the fluff that the coin dealers sell, anyway, if its related to gold & silver and it’s on the net I will come across it at some stage, to cut a longe story short, the Numis network sell a Kookaburra 1oz coin, 1995, .999 fine silver which you can purchase from Paradisemint.com in Lakewood ranch FL for $ 49.99 USD, look under Australia coins – raw. if I was buying them in bulk I would expect at least 10%+ offf that price, so Numis are making at least a 100%+ margin on coin sales.
Cheers from sunny Australia
PS, I love red heads.
[…] became some sort of financial expert when he started to market silver and gold coins for the pointy ended company Numis Network. Tony doesn’t have any financial background, education, experience or […]
I was a consultant of this company in the early stages of its organization overseeing some of the most important aspects of its structure. Although I am completely unbiased about the MLM industry, my biggest disappointment was with character issues of 2 of the founders. Their manipulation of information and hierarchy of downlines was the reason for my immediate resignation. Be careful as the owners are savvy at creating MLM’s and one of the owners owns the company that manages the MLM software for Numis..