Gold and other precious metals have been the subject of many investment scams over the years. Gold coins in particular have been used by fraudsters to steal money from unassuming investors. There are some legitimate gold coin investments, but investors should be incredibly wary.
Meyer Wilson has provided the top five tips for avoiding gold coin investment pitfalls.
- Coin Storage – If you are thinking about investing in gold coins, keep in mind that you'll have to store them somewhere. Be cautious of people who say they can store coins for you.
- Too Good to be True – If an investment sounds too good to be true, there's a good change it might be. Even if the person offering the investment gives "proof," it may be misleading.
- Investment Harassment – Scammers often manipulate people into investing with a high-pressure environment. If you feel harassed or pressured, you probably shouldn't.
- Not All Coins Are Created Equal – Don't be fooled into thinking "a gold coin is a gold coin." Not all gold coins are equal in value. Before you invest, have an appraiser assess the coins.
- Display Cases – That display case your gold coin comes in may not be there to protect the coins. Display cases can prevent investors from properly inspecting their investment.
As with any investment, research before you buy. If you have a bad feeling about the investment, it is a good idea to heed that and pass the investment up. Gold coin scams are everywhere. If you believe you were defrauded by this type of investment, contact Meyer Wilson today.
The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .