Matt Barkes launched International Silver Network (ISN Coins) in mid-2010, establishing its headquarters in Indianapolis, Indiana. The company operates as the network marketing arm of ISN Modern Coins, which claims to be a significant modern coin dealer in the United States. Barkes serves as founder and CEO.
Barkes' earlier ventures included the now-defunct 'silver-lining-group.com', where he advertised a business opportunity. In 2008, he listed himself as President of 'Silverline Market Corporation', another company that appears to be defunct. Barkes' ISN Coins profile states he spent over 17 years in the direct sales industry, with six of those years as a founder and CEO in the precious metals direct sales niche.
Randy Lange, Chief Financial Officer, and Vincent Roy, Chief Marketing Officer, co-founded ISN Coins with Barkes. This collaboration appears to build on their collective experience in precious metals and network marketing.
ISN Coins trades in numismatic collectible coins. The company states it acquires these coins in large quantities to pass savings on to its "Business Pro members." Numismatic coins are uncirculated and graded by their "Mint State" (MS), ranging from 60 to 70. ISN Coins primarily deals in MS69 Silver Eagle coins.
The company explains its focus on MS69 coins because certified coins guarantee authenticity and often hold both collectible and precious metal values. An MS69 coin is considered near perfect and priced closer to bullion. The ISN Coins website currently lists these MS69 Silver Eagle coins at $59 USD, though the "date and label" remain unspecified.
The ISN Coins compensation plan includes retail commissions, a fast start bonus, recruitment commissions, bonus pools, and a unilevel residual structure. Members earn retail commissions on numismatic coin sales, broken into "spread commissions" and "designated commissions."
Spread commissions represent the difference between the retail cost and the member cost of a product. Designated commissions are a value assigned to each coin ISN Coins members sell. This commission value splits, with 37.5% going to Bonus Pools, 6.25% to unilevel compensation, and 25% paid to the member who made the retail sale. ISN Coins does not specify how these designated commissions are calculated or their value for individual products.