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Thread: Ol Gilmore needs some advice, big bankrollers

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  1. #16
    us
    R.I.P. Rich Hartford, You'll be missed.

    Feb 2011
    in front of you in the bank
    7,511
    1325 times
    All Types Of Treasure Hunting
    Jrf30, very well said. I don't think your post could be worded more precise and to the point.
    Buff
    HH
    BuffaloBoy

  2. #17
    us
    Oct 2009
    1,023
    10 times
    To increase my bankroll i took advantage of some credit card offers. The best one was 4% transaction fee 0% interest untill august 2013. As most of my money has been tied up elswhere the $40 per thousand was worth it and has already been covered. I just have to make sure i dont spend the money before august 2013 on anything but boxes of halves.

  3. #18
    us
    Jul 2011
    PHOENIX, ARIZONA
    1,080
    87 times
    All Types Of Treasure Hunting
    BuffaloBoy, It's a military member in my shop of 7, a friend as well. Weve been deployed together, plenty of respect both ways.

    John, this is more of a hard money lend, a handshake agreement. I do understand the legality of investing and businesses. But this is a grey area in this situation...this guy really doenst care how he gets his 10%. After hearing some of the viewpoints, I am shying away from the original proposition.

    I might CLARIFY the expectations with him...somthing to the effect of, "Jim" you dont give a **** how I get you your 10% right? And he will say, hell no, just get me 10% on my 5K. If this is the case, do I get the greenlight?

  4. #19
    us
    Jun 2011
    Southeastern MI
    1,374
    234 times
    I am not a lawyer but there are 2 key elements of fraud, (1)lying for (2)finacial gain.
    If no matter what happens you repay his investment ($5000) then you are okay.
    But I would make it clear with him what you intend on doing with his money.
    Or I would make it clear to him that you are going to use his money for whatever legal business activiy you choose (he is investing in you).

  5. #20
    us
    R.I.P. Rich Hartford, You'll be missed.

    Feb 2011
    in front of you in the bank
    7,511
    1325 times
    All Types Of Treasure Hunting
    do whatever makes Gilmore Happy


    I now understand better on the relationship between you two, I don't see how things could go wrong, as long as he agrees. Though I am sure you don't want to mention CRH, you could mention money to play around with.
    HH,
    Buff
    HH
    BuffaloBoy

  6. #21

    Apr 2012
    62
    4 times
    Scouring flea markets for old violins
    Well, CRH could be put under the umbrella of rare/collectible coin speculation and/or precious metals speculation.

  7. #22
    us
    Feb 2012
    624
    207 times
    All Types Of Treasure Hunting
    Quote Originally Posted by quiksilver View Post
    To increase my bankroll i took advantage of some credit card offers. The best one was 4% transaction fee 0% interest untill august 2013. As most of my money has been tied up elswhere the $40 per thousand was worth it and has already been covered. I just have to make sure i dont spend the money before august 2013 on anything but boxes of halves.
    After you pay that off (if your credit is good) you will get more/better offers. Discover just offered my 0% tranfer fee and 0% interest for one year, $5000 credit limit. I wrote out one of the checks they sent me to myself and put it into my checking account, the next day withdrew $5000 and upped my CRH budget for a year.
    And Gilmore, I think you'll be fine, just mention the "does not invole any illegal activity" thing.

  8. #23
    us
    Jan 2012
    Maryland
    White's Coinmaster
    5,836
    649 times
    Coin Roll Hunting
    Quote Originally Posted by MIhunter View Post
    I am not a lawyer but there are 2 key elements of fraud, (1)lying for (2)finacial gain.
    Well if GH is lying about "the business part", then he is defrauding as CRH gives you financial gain.
    1/100 of an American dollar is a cent. It is NOT a penny. The word penny is used by several other countries, such as Great Britain, to denote their smallest denomination. In order to be numismatically correct, you must use the term cent to describe the American coin.

  9. #24
    us
    Mar 2012
    42
    4 times
    All Types Of Treasure Hunting
    Just tell the guy you can offer him a 6 month GD (Gilmortificate of deposit) at a 10% rate of return, with a minimum deposit of $5,000.

  10. #25
    us
    Dec 2011
    one of the 13 colonies
    140
    10 times
    roll search
    Tell him what you are going to use it for. Give him his 10% ($500) up front with the promise to pay him $5000 in 6 months . Finalize the agreement either with a promissory note or do it as a handshake deal. In other words, he gives you $4500 now, you give him $5000 in 6 months. He actually makes a little more interest on his investment and you have $4500 to roll over each week in boxes - and you both can sleep better at night. That gives you 9 boxes a week, or approximately 225 boxes you can search in 6 months, using a minimum of your cash.

 

 
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