Buying gold below spot price is a scam as old as time. Even sizable gold coin dealers cannot buy gold coins at or below spot price.
FORT WORTH (PRWEB) June 28, 2014
The Chicago Tribune’s June 24th article by Rosemary Regina Sobol about a gold coin scam has prompted long-standing U.S. gold coin dealer GoldCoin.net to issue an Investor Alert. GoldCoin.net spokesman Keith Kelly said the arrest of an alleged con man who is accused of running a coast-to-coast gold coin Ponzi scheme should serve as a wake-up call to investors who may have a tendency to be too trusting.
“This man allegedly earned his victims’ trust over a period of time by carrying around large amounts of cash, dressing fashionably and smoking expensive cigars,” Kelly said. “Once the target’s guard was down he allegedly convinced them to invest in gold coins that he supposedly could buy below spot. The victims say they paid in cash and never heard from him again.”
Jones encourages investors to thoroughly research any broker or company before agreeing to do business, “and never pay in cash because a bank wire or personal check is safer and it leaves a paper trail in case something goes wrong,” Kelly added. “Buying gold below spot price is a scam as old as time. Even sizable gold coin dealers cannot buy gold coins at or below spot price.”
Gold Coin (GoldCoin.net) has over two decades of experience advising household investors on smart physical gold and silver investments and gold coin IRA and 401k plans. They buy and sell all types of precious metals and offer free home delivery. For more information or a free Gold Coin Starter Kit, visit http://www.goldcoin.net or call 1-800-425-5672 today.