Fake Gold And Silver Coins Rampant In U.S., Warns Gold Silver

Share Article

America’s gold and silver dealer, Gold Silver, issues warning about counterfeit coins after Oklahoma dealer gets taken.

Visit the Better Business Bureau (www.BBB.org) to make sure the company has a good reputation with one or fewer complaints.

U.S. precious metals dealer Gold Silver has issued a warning to the public regarding counterfeit gold and silver coins after yet another gold coin dealer was duped into purchasing a large quantity of fake coinage. Rod Powers, owner of Oklahoma Coin Gold & Silver, said that one of his employees was recently deceived out of almost $1,300 via a purchase of counterfeit coins, according to a recent News on 6 story. While Powers does not believe that the seller knew that the coins were fake, he cautioned dealers and individual buyers to be extremely cautious when dealing with new clients who seem suspiciously motivated to sell.

Stewart Lawson, vice president of marketing for Gold Silver, agrees. “Larger gold and silver exchanges such as ours have methods to detect fakes right away, but many of the small, local dealers rely on employees’ judgment when buying coins from the public," Lawson said. “It becomes even more difficult to detect counterfeit items when the buyer is working at a flea market, gun show or other localized event. We recommend that anyone with suspicions about a coin call one of our coin specialists before committing to anything."

Lawson also recommends that individuals who are considering a purchase do three things before choosing a company. “First, talk to people who are already invested and find out which companies they used. Second, find out how long a company has been in business before doing business with them, and then visit the Better Business Bureau (http://www.BBB.org) to make sure they have a good reputation with one or fewer complaints.”

GoldSilver.org is North America’s market leader for gold and silver investments for home delivery or within retirement accounts. They buy and sell all sorts of investment-grade gold, silver and platinum. For more information or a free gold and silver investment guide visit http://www.goldsilver.org or call 1-800-394-3337 today.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Stewart Lawson
Gold Coin
Email >
Visit website