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How many varieties of "rare coin fraud" are out there?

Rare coin fraud can come in a number of different varieties. When a broker excessively buys and sells within a customers account, he's generating a commission whenever he buys or sells something. He may be churning the account to generate commissions. The customer has to be aware of the fact that there is a conflict of interest. Every time the broker recommends something he is making a commission. So is he really giving you the best advice?

Every time he gives you advice, if you follow it he makes money. Excessive trading is one violation. 

Another main violation is where the broker pushes investments that are not in accordance with the customers investment objectives. If the customer is an elderly widow she's going to need safety and income from her investments.

If the broker negligently sells her other types of coins which would not provide income and are certainly not safe then he has committed a violation. The coins that he is recommending and selling the widow are not suitable for the widows investment needs. 

Misrepresentations also occur.  This is another main broker misconduct. When a broker downplays the risk of an investment and overly touts the profit potential, he is committing misrepresentation. 

The coin dealer and the broker are liable when this happens. 

One more area is unauthorized trading, where the broker has not really obtained the permission of the customer to sell something and he goes ahead and does it anyway. Then he tells the customer after the fact, "Hey I just put xyz gold coin in your account."  This is called an unauthorized trade.
If No Recovery No Fee Guarenteed

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.

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