Moving on from Mulligan Mint

Once upon a time, and for a very short while, stacking silver with the Mulligan Mint was a lot of fun.

For several months, customers flooded the websites of Silver Bullet Silver Shield, Coins for the Cause, TSPMint, Agorist Metals, M2 Factory Story and a number of others, all to acquire exciting silver, copper & gold coins that meant more than boring bullion. All of these projects were brought to life by me, Rob Gray, my brother David, Eddie Allen, and the team we built along the way.

The Gray Brothers (as we’re referred to these days) didn’t do it alone. We had lenders, partners, affiliates, workers, employees, family and friends that contributed to make our dream come true.

But what started as an experiment in the application of objectivist philosophy for business, ended as…well…a complete success.

This does not mean that M2 isn’t now a total disaster. It does not mean that hundreds of customers and a dozen or so lenders aren’t [at time of writing] waiting patiently for what they are owed. It does not mean that I don’t deeply regret the fate that has come to Mulligan Mint, a once-great business.

It simply means that, as we hypothesized, a man can successfully build a business on a foundation of solid principles. One does not need to lie, cheat or steal to create something amazing.

In this update, I won’t bore you with facts, figures, explanations or justifications of what took place over the last year. The court records, email exchanges, videos and other evidence readily accessible online speaks for itself. That was an important part of the process for me – making sure the record accurately reflects what transpired. By evaluating the facts (and taking dramatic, nasally-narrated youtube slander with a grain of salt), any objective researcher will piece together the true story of what really went down. But the bottom line is simple: Mulligan Mint is living proof that it CAN be done.

This article is simply written to share with you my excitement for the post-Mulligan Mint future, built on the same principles that made Mulligan Mint so successful.

You see, with the stress of trying to save Mulligan Mint behind me, I’ve been able to step back and look once again at the big picture. And from all that I have access to see, hear and experience, I can safely say that the future is bright.

lakotaFirst of all, the growing interest in Bitcoin has created many new opportunities for Commodity Banking, and I’m proud to announce that after more than FIVE YEARS of development, the Free Lakota Bank has finally moved forward with its software platform that allows e-commerce integration and a host of other features. FLB and Commodity Banking with several new First Nation partners will give Bitcoin a serious run for its money, and competition between the two is good for complementary currency alternatives in general. The more options we have for non-dollar exchanges, the better humanity will be. I’m happy to be a part of it and more details will emerge in the next few weeks about this. But the platform is live and I invite you to have a look.

Secondly, while I may ultimately walk away from the Mulligan Mint disaster with no tangible assets to show for my effort, I will not walk away empty handed. For starters, back in February 2012 I had no idea how to start and run a mint. All I knew back then was that I wanted to start a mint and believed it was possible. Today, I know everything there is to know about how to start and run a mint. With my knowledge, a little capital and some fertile soil, I can re-create what I did before in very little time. And in case you’re wondering what I’m up to these days, I’m doing just that…just not in America.

sgagAdditionally, another benefit from the Mulligan Mint experience is that, for better or worse, I am quite possibly the most notorious person in the world of silver minting. I’m not bragging, and I’m not entirely proud of it, and it’s not the “good” kind of notorious, but sooner or later my ex-partners and old associates will realize that saying my name over and over isn’t going to ruin me. I’m not going away, and as long as they keep mentioning me, more and more people will be interested in just who Rob Gray is, and what it is about him that gave him the audacity to stand up to a deep-pocketed industry fraud and a foul-mouthed youtube fear-mongerer.

And third, the final chapter in the Mulligan Mint story is not written. As desperately as I would like the drama to end, it may be years before the legal plundering concludes. However, there are a few aces I haven’t played just yet. While washing my hands of the situation may be nice, I have an opportunity to help expose the looters for what they really are. They ultimately may end up with everything, but they’re going to have to work for it. And with a little luck [read: a judge following the rules], my investors and customers will walk away with everything they’re owed.

Regardless of what the future holds for Mulligan Mint, keep in mind that I remain deeply committed to the lenders and customers that are waiting to get what they are owed, up to the day I resigned (November 15th, 2013). I will see to it that all orders are filled and all loans repaid, regardless of the obstacles placed in my path.

So let’s make stacking silver fun again.

2013-01.16 - Merlion Sculpt cropToday I introduce for your consideration the launch of the OpenCurrency Exchange, an online coin store where you can fund your Commodity Bank account and find the latest coins brought to life by our many initiatives, including the Lakota Crazy Horse Limited Edition proof, the final run of the 2013 Crazy Horse “Last Strike” coin, and also the brand-new series of coins for Singapore Silver, what is certain to join the ranks of other internationally-bestselling brands with the new Sgnature Series, paying tribute to the Singapore Merlion and several other Singapore icons. The store is open now and promises shipments in 2-3 weeks, unencumbered by entanglements and accepts PayPal for your stacking convenience. I simply ask for an opportunity to earn back your confidence so that I may continue creating value for you.

There’s much more coming down the pike, so please stay tuned for updates. Shortly, we’ll all look back on the Mulligan Mint travesty as what it is: an excellent learning experience and warm-up for an exciting future.

And mark your calendars for March 28-30th 2014, where two lucky winners of the Singapore Silver contest will be invited to join my family at the Marina Bay Sands hotel for the launch of my new venture in the world’s fastest growing market.

2014 is going to be an exciting year, and I hope you enjoy it with me.

Rob Gray
Executive Director
American Open Currency Standard


  1. says

    I am glad to see your spirits are still high, and you continue to look at each experience as an opportunity to learn and grow.

    I would like to talk with you about creating a physical manifestation of bitcoin from about $200 FRN gold and silver that would sell for one bitcoin each. With the right structure, we could guarantee buy-back of the coin for the same amount anytime the customer wants without risk.

  2. George Hill says

    Rob, keep up the fire

    Very interested in PARADIMES concept…

    I have some guys with money… a group of mil-contractors…with SpecOps backgrounds-SF/CA/PSYOP/RGR…
    we believe… fiat dollar will fail, by 2020 …many reasons…mainly debt …just mathematical certainty!
    we believe…bottom up…community local commerce only solution…trade in silver-paradimes…
    we think we need to get $500-$1000 in pd in each family …or at least 1/3…about -99,000,000
    we plan to put retired and early separated highly trained Special Ops Forces in 50,000 community’s
    the right size is a local fire districts…with the goal of preparing our community to survive, trade, and thrive
    the coming currency collapse. These franchises will sell …food, silver, training, security & medical
    to their local areas…we plan to lic each area for $10,000 each…we plan a web sight manage it all
    This will be effort to prepare each family, and community…
    our motivation is but if we don’t…we will die…cold starving
    in the dark…
    …currency collapse will end gov services, water and power…if we do not get ready and make some plans … the power will go off and not come back on!
    I wound like to see how we can…synenergize and help each other to win-win
    TOGETHER we can make a catastrophe an inconvenience…possibly an opportunity for a few good men.

  3. PirLor says

    I don’t care anymore what happens with currencies water and power, but the AOCS coins (I prefer the older simple straightforward non-bloated designs though) represent thoughts, ideas and points of view that deserve to be spreaded, as a forgotten remembrance of what a real trade and a real economy is.

  4. Ava Eadie says

    Hello, This is my first time to come to this website. I did so because several years ago at a gun show, I bought some of your AOCS copper coins and little silver coins. I came to this website attempting to learn where I could go to sell them back to you. I read the blog above and really do not have a clue what has happened, but based upon your optimism, tone and reference to OpenCurrencyExchange, there should be no problem in learning how to sell these back to you. Please advise. Thank you, Ava Eadie

    • says

      Ava Eadie, I do not work for AOCS, but I would love to trade your real silver currency for increasingly worthless paper Fed Notes, if that is what you had in mind.

      • Ava Eadie says

        Hello Richard, I genuinely appreciate your reply. Yes, I am too aware that the Fed Notes we call money are in reality increasingly worthless, but when one needs to pay bills they still work. I sent my message to Mr. Gray because when I purchased the 15 copper La Kota 1 AV ounce of fine copper, stamped 2010 (which may even have been the year I bought the coins) I was told by one of the Grays themselves, can’t swear which, that I would be able to sell it back or exchange for the market value of the metal. At the time of purchase they threw in a Coin of The Realm marked “two crowns” yet still stamped one AV ounce of fine copper. As you can imagine I am feeling a little like I was caught “in a moment” when I made my purchases. As yet, Mr. Gray has not responded to my post or sent me a private email. So I am a little disturbed. The silver coins I purchased read on the back of the coin “Barter is Better FIVE tenth troy ounce .999 silver, stamped 2010, AOCS. approved. If you are sincere in expressing your interest to buy the silver coins from me, I am sincere in desiring to sell them. At the same time, I would like Mr. Gray to tell me what I can expect to do with these copper coins if anything.

        • says

          I would love those Lakota copper coins. I can exchange them for Fed paper or I have some beautiful Tree of Life coins that have a purchasing power similar to 5 to 8 FRN in our local honest money economy. Click on my name to friend me on Facebook.

  5. Jerry says

    ,I will look forward meeting you at theMarinabay sands hotel I will enjoy speaking to you ,hope I get my order before then,which was placed the summer of 2013

  6. Mary Lamb says

    Hi ROB,
    Your mother gave you an appropriate name. You call the mint a success. Wow….God help anyone stupid enough to do business with you guys.

    • says

      Mary – I was named after my father. Also, if you re-read the article, you may notice that I called the mint a “total disaster”.

  7. Michael Palfreyman says

    I have not purchased any of the AOCS rounds or any of the M2 rounds, but I was one of those people that followed your mint from the first pieces of machinery, to the auctioning off of your equipment. I’ve seen the amount of money and precious metals that you owe people, and it baffles me that you can now pat yourself on the back for what you did. I hope one day you understand Why people are saying those things about you, and realize that you seriously screwed a great number of people. I will not wish you luck in your new minting endeavor, but I will wish your future investors and clients luck…THEY’RE GONNA NEED IT!!!

  8. Don Jones says

    Rob, no doubt there are many like me that have scrimped and saved, placing orders with you in good faith, trying to buy a bit of financial security for the melt-down that is ahead. All I know is that my family’s future is at risk, spending money on your products, and now not having the money or the silver I invested in.

    I used to be optimistic, thinking I was making the right moves to better take care of the ones I love. Those of us on fixed incomes, beyond their most productive years really can’t afford these kind of losses. Because of my faith in Jack Spirko, I believed my limited financial assets would be traded for the commodity promised through your business.

    Do you really have a plan on how you are going to pay people like myself back or is that only wishful thinking, or even worse just talk. I am sure I am not alone in wanting updates and answers. Real progress. The proof is in the pudding. Something tangible. We Americans have been robbed by the people that were entrusted to secure our financial future. We turned to people like you believing in honest money. Have we been robbed again?

    • says

      Don – I never expected anything close to what happened in bankruptcy to take place. I stopped feeling sorry for myself once I learned of the Jeff Baron story – he got it much worse than I did, and I consider myself lucky that I got out alive.

      Certainly, the proof is in the pudding. Here are a few things to consider:

      1) the bankruptcy is supposed to pay out all orders placed after September 13th. If you ordered after this date, and the trustee follows the rules, the order should be filled or refunded in full. I still see people posting recently “just got my order from M2″, so this looks good for post 13-Sep orders.

      2) any orders placed 13-Sep and before that date are considered “customer deposits”, and should be paid out as a priority up to the first $2500. So, up to $2500 of orders should be refunded or shipped. Again, this is if the trustee follows the rules.

      1 & 2 covers most of my obligations, and again, should get shipped or refunded according to the rules. As for large pre-bankruptcy orders, I will have to get in contact with these customers individually and work out a plan. As for lenders, I have been in contact with most of them and they are well aware of what I’m up to right now. I have not proposed a plan to them yet, since I do not know yet my cash flow expectations. However, they do know that getting back on my feet will take some time and most believe I will not forget them when I’m ready to start making payments.

      Please understand that I very much appreciate the position that you (and others) are in, and I thank you for sharing your frustration in such a positive and respectful manner. You’d be surprised (but probably not) at the volume of people that never bought anything and aren’t expecting anything from me, and yet take the time to be so completely out of line. Incredible.

      Anyway, keep an eye on this site for updates – there is a lot coming SOON, including a new online store offering SAME DAY SILVER (launching 18-March). Also, please send an email to with specifics regarding your order you are expecting (date, total, items, etc) so that I can get you on my personal list.

  9. Chad Rettew says


    I was one of the orders trapped, i received my order 3 or 4 months after placing it Sept 22nd, i then purchased on the wholesale side until the mint was sold. I have a design in mind with a great story behind it, i am certain it would sell sell sell, and be a staple in everyone’s silver stack and would bring in new folks who have never purchased silver before. Any interest let me know


  10. Breezyy214 says

    If you are ever in need of an employee or friend, you know where to find me.