When your silver coin look like this, it does make people skeptic about legitimacy of the silver coin. It looks like a freaken public transit token!!! ...I'll pay $1 for it.
I know the price of silver and even I would have turned down that offer. Even if I could trust her that was actually ounce of silver. The time I would have to spend to convert it back to usable currency for myself is worth more than the $20 of profit it would yield. That being said, If she was willing to sell me a large quantity of ounce silver coins for $5 a piece, I would have been interested. Them turning down that offer wasn't dim in the slightest. And congratulations peilthetraveler, unlike those Havard educated morons, you managed to propagate some viral marketing for Silver Circle's product. I hope the return on your time was more than $20.
Not only that, how many of you (over 35's) knew the price of an ounce of silver when you were in college? Generally speaking, the financial markets, commodities, etc., are for investing in once either some wealth has been accumulated or once a person has joined the work force and is looking to slowly build an investment portfolio through regular contributions. I would hope the kids in that video would have more important things to concentrate on than commodity prices at their stage in life.
...and these are the bozos who attempt to make others look stupid with their video editing. http://www.silvercirclemovie.com/?page_id=51 BTW: Their animations are fugly!!!
What we have here is a classic case of book smarts and no street smarts. This describes my sister. She went to a highly respected university, although not Ivy League. She graduated Magna Cum Laude but I doubt she could start a business selling matches to eskimos or condoms to college students. Hmmm...now there's a business opportunity that just might be a smashing success. Open a store close to a university that sells one and only one thing -- condoms -- in every variety available. A very wise man once told me to start a successful business find an area of demand and simply fill that need with supply. And, if at all possible, sell something that people become addicted to, which, of course, brings up some moral and ethical business issues.
I completely agree, very few college kids (even the very bright ones) pay attention to this sort of thing. Of course there are exceptions (like a Ken Griffin at Harvard), but prior to the shift of our entire economy into one giant asset reflating scheme, people actually did care about many other fields aside from stock prices, commodity prices, etc, etc....
As someone noted earlier this piece is probably heavily biased. What type of students were interviewed? Where they majoring in Biology or Pre-med, or Philosophy? In that case they would have little knowledge of economics and probably don't know the price of 1oz of silver. Had the interviewer interviewed an economics or finance or maybe an accounting major you'd probably get a different answer. Does Harvard even teach such a mundane program such as accounting (bean counters)? Although, once you get the CPA you can make some killer money depending on what you decide to do with it.
Only an idiot would buy jewelry or coinage or anything thats claimed to be valuable from a stranger off the street. ---------------------------------------------------------------------------------- Bingo! This video proves that the Harvard folk are not as stupid as the poster try's to make one believe. Who in the hell would by silver off a street, from a non dealer? So, lets say someone comes up to you mr. Poster....and say's will you buy this APPL paper stock cert at 50 bucks? You can still get your stock certs on paper by the way. Yes, Harvard academics can be liberal and create idiots like Obama. But it also created many other "Capitalist" and Harvard is still a solid academic institution. By the way, they are smart enough to hold a lot of endowment in OIL, since the price level of 30s and even bought more since the last time we touched 35 a few years ago. There are smart people at Harvard.
They may own oil from lower prices, I'll take your word for it...On the other hand, you can go thru the archives and read about what an absolute ass whooping these guys experienced in 2008..and that goes for almost every Ivy League endowment. The IBanks were offloading all their crappiest derivatives onto these endowment managers and, if not for this barn burner rally, things could have been pretty horrific for these institutions. From what I recall, Harvard might have been down upwards of 40% in late 2008..On the billions they manage, it was pretty remarkable.