Power of the Media
Don’t ever under estimate the power of the media. Hello my name is James R. Duke and I have been in business for myself most of my adult life. Since I was 12 years old I collected coins. Silver dollars, Mercury Head Dimes, Buffalo Head Nickels I’ve always enjoyed collecting and it has been a lifelong hobby but more than that a lifelong passion. In 2008 I formed Phoenix Coin LLC and followed my collecting passion now turned business venture. At my peak I hired trained and managed 50 employees. With 34 full time buyers on the road constantly buying collectible items we would resell for a profit. As the Gold and Silver prices continued to climb and the economy continued to worsen we started buying anything of value leaning to the more collectible items plus now a lot of gold and silver. By the end of 2010 I had traded in over $30,000,000 in rarities and tons of scrap gold and silver. 2011 was equally as profitable and life for my wife and I and our five children was excellent with no worries in sight. Spring of this past year brought the passing of my Mother who resided with us in poor health for the last six years. With no immediate family left on the mainland we made a decision to move to Oahu where we had visited many times and live out the rest of our lives.
On Easter Sunday we made a symbolic exodus from the desert to Oahu. We lived in a Hotel room till we found a home big enough for all seven of us. On May 17th 2012, only a little over a month after the most expensive move for us ever, CBS started a series of investigative reports broadcasted nationwide on a company out of Ohio called Treasure Hunters Roadshow. A company we had nothing to do with except for they were in the same industry as us. The business of buying and selling Gold, Silver, Collectibles, Coins, Antiques etc. They were my largest competitor and a very strong company employing hundreds of people. Last year J Parsons and his company had $211M in transactions and profit of $13M. Which equates to them having a net profit margin of just over 6% and hardly criminal. Which means they paid out $198M to employees, TV Stations, Radio Stations, Newspapers, Hotels, Rental Car Companies, USPS, Gas Stations, Restaurants and to the American Public which needed a place to liquidate items for needed cash to buy groceries and save their homes.
CBS and their investigative report with hidden cameras caught some of the companies’ employees not being honest regarding the worth of scrap gold when they were buying from CBS investigators. Bad apples in his organization of all most 1,000 employees. The report went on to tell the public that Treasure Hunters Roadshow operated under many different names. However, CBS did not give all the names the company used but instead used a blanket warning to the public to stay away from companies advertising the “Treasure Hunter Buying Events” especially ones that rented conference rooms in a hotel for a week to purchase the items. CBS was successful in their attempt to close Treasure Hunters Roadshow for good and the company had to fire all employees and close all operations. As far as that company, my largest competitor, is concerned I was happy to see them close. Leaving more room for honest hard working companies like mine. What I didn’t know was the far reaching power of the media and how it would adversely affect my company. The public couldn’t tell the difference between companies and since we used the slogan “Modern Day Treasure Hunter” in our advertising many thought we may be part of the failed Ohio company, which couldn’t have been further from the truth. They just stopped coming to our events. Before I knew what was going on and with no negative complaints on my company and an A+ rating with the BBB my business started to falter. I started damage control and made the needed changes to get past the situation but it was too little too late. In August we completed our last 15 shows. Lost over $100,000 of own money and had to fire all employees and cancel all shows. Unlike Treasure Hunters Roadshow I stayed strong and paid all obligations of the business including paying all employees last paychecks. However, by September with taking care of all our obligations and now with no income we have had to sell off all our assets including our 2010 Lincoln Navigator to try to keep up with our household bills.
Tonight we ate the last of the groceries we have and tomorrow we will take our cans in to get gas money. Hard to believe when only a few short months ago I moved to Hawaii with the family and plenty of income and a business that was producing $30,000 a month plus in profit. Our landlord has given us till Dec. 15th to come up with the rent or be evicted. Incredible to believe that after a lifetime collecting and a passion for an industry that brought us great prosperity we could be in such a terrible position. I have reached out to everyone I had helped over the good years but no one is in a position to help me when I need it. In the last ten years of business I had less than a handful of complaints and always error on the side of the customer and took care of them. You can’t do $50M in business and expect everyone is going to be happy all the time. However, I was very proud of what I had built, my reputation and my profession. I am still proud to be a “Modern Day Treasure Hunter”.
I was successful in closing out without leaving any outstanding debt, however, I am now left without the ability to provide for the basic needs of my family. Let alone the capital I need for my return to business. I have a business plan written for my return to business. One I know from years of experience will be successful. The plan includes having our own permanent location here in Honolulu. A new face for our marketing to put the needed distance between us and the failed Treasure Hunters Roadshow. The new business will be even more profitable than before using the 10 years of experience working in the industry. I have bank records to show millions in business and trade references showing millions of dollars of on time payment. If I had gone to the bank before things went bad I could have borrowed up to $500,000 without worry. I didn’t need the money then and now with no income they won’t even talk to me.
This is an opportunity for you to help someone in need while helping yourself. I need about $25,000 to acquire the office, pay for advertising and open our doors with enough money to begin trading in our chosen items. I am willing to offer a much higher return and only need the money to get started and can return the entire investment plus interest in less than six months. I am an honest hard working man with a wife of 22 years and five beautiful children. I wish nothing more than to be back in business rebuilding what CBS has taken from me. I have always lived by the Golden Rule and my Midwestern Christian Values. If you or someone you know can help us I assure you I will more than compensate you for taking the risk on me.
Please Call: ASAP Jim Duke Modern Day Treasure Hunter and Owner Phoenix Coin LLC at 808-469-1034.