Buying gold coins as an investment can be tricky, and you need to proceed with caution if you are looking to add gold coins into your investment portfolio. While there are some reputable precious metal dealers that sell gold coins for a fair price, there are others who participate in unethical behaviors and scam consumers out of their money.
Many consumers across this nation are scammed into buying gold colds that are worth far less than what they paid. Some of the larger companies such as Rosland Capital LLC, Goldline International Inc., and Lear Financial Group pay well-known personalities to endorse and push their products on their shows.
Rosland Capital has been known to pay Bill O'Reilly, who has stated that the dollar is under attack. Another host, G. Gordon Liddy, endorses Rosland Capital on his shows, and is known for stating that gold is a safeguard against the falling dollar in America. These well-known radio and TV hosts have been playing on Americans' fears of inflation, which in turn is helping increase these gold companies' profits.
For example, CEO Marin Aleksov established Rosland Capital in 2008, after he was a former broker at Lear Capital. In his first full year in 2009, the company's revenue was reported to be approximately $100 million. Although companies are in business to make money, they should not be doing it by playing on Americans' fears or by bullying people into purchasing coins at prices far higher than what they are worth.
If you have purchased bullion coins or even rare gold coins and experienced any of the following, you may have legal solutions that you should consider:
- Receiving a different coin that what you were told
- Being guaranteed that your gold coin will increase in value
- Experiencing high-pressure tactics from salespeople
- Being charged a penalty fee for canceling your order
- Getting a coin that was valued far less than what you paid
- A company not buying gold coins back or charging you an extremely high fee to do so
Most of the time, there is not a concern that the coins are fake, but it is that the coins are sold with an extremely high markup and don't tend to increase in value. More attention is being given to unscrupulous companies and gold fraud claims by the Federal Trade Commission (FTC), United States Congress, and many U.S. Representatives. However, coin dealers are still basically unregulated, and consumers need to beware.
If you believe you have a gold coin fraud claim, please contact attorney Bill Voss, an experienced rare coin fraud lawyer, at the Voss Law Firm at 866-276-6179.
Make sure to download a FREE copy of attorney Bill Voss's book Coin Fraud - Is Your Investment At Risk?