Seniors Targeted By Con Artists in Gold Coin Scams
Currently, this is especially the case in the gold industry. As a Texas gold coin fraud attorney, I have witnessed that elderly people are more vulnerable to gold scams. With the economy and job market still in trouble, some dishonest people turn to scams to rip people off in order to make a dollar. There are many con artists in the gold industry preying on people, especially seniors, to make a fast buck.
This problem of coin fraud is just getting started.
The high price of gold is causing new gold coin companies to enter into the market. With the addition of new companies, many con artists also move into the business, just looking to make a fast dollar. Although seniors are generally the target for con artists, it is happening everywhere and to anyone.
Con Artists Have Targeted Seniors in Gold Fraud Scams
Let's face it. Most working people do not have time to take sales calls; however, sales people know that seniors have plenty of time on their hands, will generally listen to them, and are often trusting. This is also why con artists target seniors and will even call them several times a day to wear them down.
Seniors may have their retirement money and funds from other investments they are living off of, and con artists may try to sway seniors to turn in their investments for overpriced gold coins and coins that will not appreciate in value. The scam artists often use high pressure sales tactics to get seniors to purchase coins they generally would not be buying.
Unfortunately the gold industry in the United States is not regulated, so this means that gold dealers do not have to disclose their markups and the melt values of coins they sell. When buyers of gold coins start realizing that they are buying gold coins priced way too high, there is going to be a major issue in the industry.
There are many gold companies that are being investigated for misleading tactics, high pressure sales tactics, and selling overpriced coins. If you believe you were a victim of gold coin fraud, or if your elderly parent was ripped off by a gold dealer, please call an experienced coin fraud lawyer at the Voss Law Firm at 888-614-7730 today. Our skilled coin fraud attorneys will provide you with a free legal consultation and explain your rights.
In addition to talking with an attorney, you may also want to report a complaint with the Federal Trade Commission and any professional organization that the company belongs to.
You can also receive a FREE copy of my 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.