According to the Federal Trade Commission, the value of bullion coins is typically determined by their gold content rather than the rarity of the coin. However, older coins that are significant to collectors get their value from the rarity and condition rather than the coin’s gold content. This is very important to learn before heavily investing in gold coins.
This is just one lesson to learn so that you do not become a victim of gold coin fraud by the many fly-by-night companies misrepresenting the value and worth of their gold coins. Oftentimes, unscrupulous dealers sell coins from non-government “mints” that are made of imitation metals and not real gold.
Before purchasing a gold coin, look at its:
- Market availability
- Seller’s refund policy
Coin collectors and numismatists will compare prices offered by several dealers prior to purchasing a single coin. They will also scrutinize the above-mentioned factors before making a purchase. They know that careful research can help save them money or gain them money in the long run. Additionally, it is a good idea to find out if there are any complaints filed against a specific company with the Better Business Bureau before making a purchase. Never give in to high-pressure sales pitches, as they are often used by con artists running gold-related investment scams.
If you have been a victim of Texas gold coin fraud, please call the Voss Law Firm and speak with a skilled Texas gold coin fraud attorney at 888-614-7730 to find out your rights. You will receive a free consultation and a FREE book, Coin Fraud – Is Your Investment at Risk?