House panel to probe gold coin deals
Duh_OZ
http://www.walletpop.com/blog/2010/09/21/house-panel-to-probe-gold-coin-deals/
Snip:
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This week the focus turns to gold sellers and some of the ads'
implicit suggestions that the gold coins are likely to appreciate like
gold bullion. A recent article reported that Goldline offers gold
coins at inflated prices, saying that one set of gold coins that
Goldline was offering for $5,924 was being offered by another dealer
for $3,295, and that a Goldline adviser suggested buying collectible
coins because they are safe from confiscation by the government. The
story said that Goldline's prices for bullion were more comparable to
other sellers but the firm charges a fee for storage and sales.
Weiner has accused Goldline of playing on phony fears that gold is a
"safe investment alternative." He accuses Goldline of "grossly"
overcharging for its coins, pricing coins as much as 90% above a
coin's melt value. He has also accused the company of falsely claiming
gold coins are a "good investment;" and falsely presenting its sales
people as "financial advisers."
"It's shameful that companies like Goldline are able to rip off
consumers, use misleading and possibly illegal sales tactics, and
deliberately manipulate public fears to sell gold coins at inflated
prices," he said.
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Relayer
> Full read:http://www.walletpop.com/blog/2010/09/21/house-panel-to-probe-gold-co...
>
> Snip:
> =============
> This week the focus turns to gold sellers and some of the ads'
> implicit suggestions that the gold coins are likely to appreciate like
> gold bullion. A recent article reported that Goldline offers gold
> coins at inflated prices, saying that one set of gold coins that
> Goldline was offering for $5,924 was being offered by another dealer
> for $3,295, and that a Goldline adviser suggested buying collectible
> coins because they are safe from confiscation by the government. The
> story said that Goldline's prices for bullion were more comparable to
> other sellers but the firm charges a fee for storage and sales.
>
> Weiner has accused Goldline of playing on phony fears that gold is a
> overcharging for its coins, pricing coins as much as 90% above a
> coin's melt value. He has also accused the company of falsely claiming
> gold coins are a "good investment;" and falsely presenting its sales
> people as "financial advisers."
>
> "It's shameful that companies like Goldline are able to rip off
> consumers, use misleading and possibly illegal sales tactics, and
> deliberately manipulate public fears to sell gold coins at inflated
> prices," he said.
>
> =============
no different than most others...
Bremick
"Duh_OZ" <ozzy....@gmail.com> wrote in message
news:ecea47d1-e611-431b...@c21g2000vba.googlegroups.com...
Personally, I'd prefer to see someone investigate and/or regulate the
floating "scrap" gold buyers. Otherwise, many Goldline customers probably
don't consider they're being ripped off. If they don't care to do their own
research and are satisfied with whatever price they paid, what's to
investigate?