Published Articles
Phoenix Dollar Is Now Closed
I visited the Phoenix Dollar web site today and found a message on the web:
https://www.phoenixdollar.net/
The Phoenix Dollar is closed indefinitely.
To redeem silver from a verified account, please send an email to info @ phoenixdollar.net
No quote from the operator on why, but with the atmosphere in the US…..well if you know….then you understand. All the best to Gordon, it was a great product while alive.
Comments (12)
Has anyone been successful in contacting Gordon? No one seems to be answering email. Hmmmm….
I did get a few emails from Gordon. I had a founders account,
so he might have paid more attention to my message.
No explaination about the closing, though.
I don’t think it was very profitible. Not enough business yet, but I think Gordon knew it would take a long time.
I had 2 founders accounts and 110 oz on deposit. Gordon emailed me in August that I would have my silver in 2 or 3 weeks. After numerous emails from me he emailed back in early January that I was “first on the list” and would have my silver in 2 weeks. Still waiting…………………..
It would appear that there are two likely scenarios possible:
1) The Phoenix Dollar was a scam, much like the Federal Reserve Note, except that the Phoenix Dollar made the false claim of substantive backing (which material did not exist to cover the existing specie – much like the deposit receipts of the European goldsmiths of old.)
~or~
2) The Fed, through one of it’s alphabet agencies, or even one of the US governments covert operations, or some non government thief/theives stole the silver, leaving Gordon holding the bag of redeeming the existing specie.
In either case, I wouldn’t expect anyone to get the silver promised.
This should teach you all a lesson about trust, and about paper currency.
In ancient Rome, a 1 ounce gold certificate would purchase a nice, high quality toga, and belt of similar quality, and a nice paif of sandals.
Today, 1 ounce of gold is valued similarly to a nice well made man’s suit of clothes, a good quality hand made belt, and an equally well made pair of shoes.
The difference is that for most people, it takes continually and progressively more labor in order to earn this value, and purchasing power decreases with every passing second for the lower 99.5% of the population.
I don’t know Gordon, and I cannot make any reasonable conclusion about his motives, character or competence. But, to trust in a piece of paper as representative of ownership of something the purported owner does not keep in his own private possession is to trust in the unseen, and unprovable. You may trust a deity in this manner, but one would be even more foolhardy to trust another fallible human in this manner. I would defend to my death one’s right to make one’s own decisions about such matters, no matter how much I consider both of these to be incredibly foolish.
of course, I mean one ounce of gold (usually in coin) in ancient Rome. I must need more coffee.
Thanks for your comments. I’ve known Gordon for a long time and I don’t think even for a moment that Phoenix was ever a scam and I know he had 17,000 ounces at one time. Also, I never heard of any issues with the government as you elude to, a possible seizure. I don’t believe that ever happened, because I think I would have heard about it. Is it possible? Sure, anything is possible but it is doubtful anything like that ever occurred. As I understand it, the work was not worth the hassles and small profits, at the time of closing the environment for any digital metal business was very harsh. I don’t blame him for closing. Also I don’t know anyone personally who lost a dollar because of this closing.
Thanks again for your comments and I get what you mean about the coffee.
Mark
If Gordon is on the up and up, then why is he not sending depositors’ silver as promised? At least he could post a message explaining the delay!
Steve, this is not the consumer complaints bureau, Gordon runs Katz Hosting one of the larger and more well know hosting companies around. He’s there every day, and receives email and most likely phone calls. If you have a problem, you can MOST CERTAINLY, 100% reach him there and state your case. Hey if that does not work call the Tuscon BBB, or lodge a compliant at the FBI’s online fraud web site…do you see anything in my blog’s heading that says “consumer complaints dept.”?
Bad mouthing someone via a blog or forum is NOT the way to solve a problem, what do you think I’m going to call him and mediate your issue? Go direct to the company or guy you have a problem with and stop wasting our time please. Thanks.
Mark
I am also a founder member. Are these coins now worthless? If not where can I sell my Phoenix Silver Dollar?
As far as I know you can sell to a collector or for spot value. I’ll pay $30 for it.
Mark
I want to buy a phoenix silver dollar-w/coa/proof if they made them.
sell me one or several-moparzrus@rcwifi.com
If anyone knows of another way to contact Gordon–I have tried through both PxD and Katz multiple times, with no success. I am also a founder, so I don’t think we’re getting special treatment unless special=ignored!