Regulate Coin Dealers to Avoid Gold Coin Fraud
Many state officials, attorneys and even some U.S. representatives want Congress to consider regulatory oversight in the coin industry. Because coin dealers and precious metal shops are giving investment advice to consumers on what to do with their money, many feel that they should be held to the same standards as other financial industries that advise consumers on investments.
Even the mortgage industry now requires loan officers to have a credit check, fingerprinting, and a background check completed in order to be allowed to advise consumers on interest rates for home purchases or refinances.
If this is the case, then why is it that convicted felons are working at coin dealers? In a recent article, we revealed that ex-cons are selling gold coins and are employed in the coin industry. If people who have already been convicted of fraud, theft and other charges are able to talk to consumers about financial investments, then something is wrong.
This is why it is very important that you purchase gold coins from reputable dealers that are certified, graded and guaranteed by the Professional Coin Grading Service or the National Guideline Clearinghouse. The dealers you purchase your coins from should not close a sale with high-pressure sales tactics or promise that your coins will double in value.
Be cautious when dealing with coin dealers. Gold coin scams may get worse until there are laws in place that would focus on coin dealers. If you were a victim of rare coin fraud or gold coin fraud, please call the Voss Law Firm and speak with an experienced coin fraud lawyer at 888-614-7730 in a free consultation.
You can also request a FREE copy of attorney Bill Voss's book: Coin Fraud - Is Your Investment At Risk, for more information on this subject.
The Voss Law Firm, P.C. represents clients on a local, national and international basis. We proudly serve companies and individuals along the Gulf Coast and around the globe on a contingency fee basis. Our law firm collects nothing unless we recover on our client's behalf.