| Author |
 Topic  |
|
|
pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 04/13/2008 : 12:14:43
|
As gold starts to attract the attention of more and more investors, the shysters begin to pop up to take advantage reckless investors who don't invest wisely or educate themselves on the buying and selling of gold.
I caught the last few minutes of an infomercial from an outfit called ‘The Rare Coin & Bullion Reserve’
They were pushing a gold eagle for $99 each, the gold eagle in question was the $5 bullion coin, the 1/10 of an ounce bullion coin, the bullion coin you might be able to buy for 1/10th the price of gold without the shipping and handling.
The sales pitch- These coins were made in West Point for one year with one year design. Per the Redbook the $5 gold were minted in West Point in 1994, 1995 and 1996 as proof coins.
Maybe they were referring to the fact since the dates were different that was considered a design change?
Lastly, they offered a free gold magazine and gold report showing how gold could go up to $725 per ounce.
Gee, imagine gold going UP to $725 an ounce, maybe gold will go past that number someday.
Expect more hucksters to begin to come out of the woodwork trying to cash in on gold’s rise.
|
|
|
wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/13/2008 : 18:58:48
|
True.... any TV or radio PM sellers are likely to be somewhat ....exagerated,
But I don't understand what the big deal is with this particular instance.
$99 at current spot price is pretty much retail. YOu CAN get it cheaper if you are patient, but for most people, the coin dealer or a well known bullion dealer is they way they buy. And both of those would not be likely to sell for less than $99 plus shipping unless you were buying 10 or more.
Of course, the shipping and handling was probably $15 or so.
Me? I look down on these type of ruthless sellers, they use smooth marketing tactics to get you to buy at elevated prices, or to think that a PCGS slabbed coin is 'getting rarer' or 'rare variety' or whatever. The ones on TV are the worst!
But also, I don't buy from the local coin dealer because of Sales tax!! In Indiana, sales tax on $100 is $7. I have a couple out of state dealers that I've worked with, so as long as I buy more than $250 worth it works out far cheaper, even with shipping, than the local coin shop. But they aren't huge operations. And they don't always have exactly what i want when I want it. I'm patient! :) |
"May your percentages ever increase!" |
 |
|
|
Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/13/2008 : 19:06:42
|
| I get a hoot when I read the ad. in my local newspaper for a company that is selling the new one dollar gold color coins. It shows them in vaults packed in gold brick boxes with armed guards included. Suckers who read that are going to think they are getting in on the gold rush too. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
|
|
| |
Topic |
|
|
|
Watch out for gold shysters
Forum Locked
