How To Protect Yourself From Gold Scams Part 2

Scams and fraudulent activity are no stranger to the american people. It seems that the more upheaval there is in the economy, the more scams that pop up. While there are many commissions and groups readily hunting such scams, fraud still runs rampant. For every scam than gets shut down, it is suspected that twenty more take its place. With no moral or ethical bounds holding back these criminals they are free to prey on our friends and family. Priority targets for these lawbreakers are commonly the elderly, many of whom are on a fixed income and end up investing, and then losing their life savings.

The burden falls on the consumer to protect themselves. It is also recommended that you bring up and talk about concerns of scams, fraudulent activity, and questionable investments with parents, friends, and family; so that they can be made aware and be able to protect themselves against crooks looking to take their money. If you suspect that you, or someone you know, has been scammed, take action so that no one else will get taken in by the same scam. Visit StopFraud.gov, Fbi.gov, the United States Department of Justice, or the USDOJ recommend Fraud.org, which is the home of the National Consumers League's Fraud Center.

There are a few things that any consumer should look out for before they purchase gold, especially if you are planning a big or bulk purchase, or intending to buy gold online. Although this is a tip I have given before, it is definitely worth mentioning again because it has the potential of thwarting a would be scam artist. Research the dealer that you are potentially going to work with! Things you should be doing research on are how long the dealer has been in business, their BBB rating or if they have had any complaints, and do an online search of the dealer by using their company name and placing the word scam or fraud after. Also, only deal with local companies, instead of doing business with someone in another country. By dealing locally, you can ask around about your dealer in the community they are in, or go into the store and get a feel for the person yourself.

If you are working with someone for the first time, do not make a huge purchase or buy in bulk! First, make a small buy and see how that deal goes and check to make sure you received everything the dealer promised and if it is good quality gold. There is no harm in waiting, if the dealer claims you will miss out on special low rates or tries to bully you with any other sales tactic, than they are probably just trying to take your money and run away with it! Only buy gold that the dealer can deliver and you can actually hold in your hands. A wise and widely used expression for this is "If you can't hold it, you don't own it!" If you are unsure, or are a new investor in gold, than buy gold bullion coins. Mainly, these coins are bought for their gold content, which is the actual amount or weight of gold that the coin contains. Buying these kinds of gold coins make them easier to trade or sell, and also protects you from purchasing coins that are sold at inflated prices claiming to be collectible, when in reality they actually are not.

If you have any questions or concerns about gold or a gold coin purchase please contact us by phone at 941-366-2191 or 800 447-8778 or through email at Sarararecoin@aol.com. Not only are we not afraid to talk to you, but we love to talk!

How To Protect Yourself From Gold Scams

Gold fraud is everywhere across the globe. The scams can be relatively simple or astoundingly complex. For the most part the end result remains the same; hard working people scammed out of their money. These days it seems as though the scam artists have no shame. The scammers have even gone as far as to prey on the elderly, having them take out a reverse mortgage on their homes and then stealing all the money those people thought they were investing.

So how you protect yourself and avoid such pitfalls? The most important thing you can do is get educated about gold and the gold market before you make any purchases. A good thing to learn is what the current price of spot gold is when you plan on making a purchase. Typically, most dealers will charge about 5% over the gold spot price. If the dealer of gold wants you to pay more than that, it is time to find yourself another gold dealer. The best thing to do is find a dealer with years of experience. Not only will they be knowledgeable, but they will have a great passion for their work if they have devoted years of their life to it.

Before choosing a dealer or company you need to do some research about them! Most reputable dealers belong to the American Numismatic Association or the Professional Numismatists Guild. This adds an extra layer of protection because the dealer must be ethical and make a fair attempt to resolve any conflicts. Failure to comply with the rules of these associations can result in the dealer losing their membership. Also check out the Better Business Bureau. On their website you can find what their rating is and if they have had any complaints lodged against their company.

Gold Fraud - The Underbelly of the Gold Market

With the precious metal gold at all time highs, more unscrupulous people have been attracted to the gold market. Unfortunately for consumers, this means they can be swindled or taken in by people or companies that appear legitimate. Recently, a gold fraud case for a well-known gold dealer named Goldline, was dropped in lieu of a settlement. Goldline was popular and had several endorsements from media personalities, one of those being Glenn Beck. Instead of facing the 19 counts of criminal charges, Goldline agreed to pay customers who purchased gold coins from them over 5 million dollars in compensation.

Goldline was not just practicing bad business practices, but were instructing sales people to partake in a form of fraud. After several complaints, they were investigated which led to the charges that were brought against Goldline by Santa Monica's City Attorney. Goldline's practices were described as predatory and deceitful by the head of Santa Monica's City Attorney's consumer protection division. He also said that in pursuing criminal charges against Goldline was a stiff warning to any gold dealers involved in fraudulent practices would be punished.

The fraudulent practices committed by Goldline is know as a bait and switch. Clients were first approached with a certain kind of gold coins available for purchase. After engaging the client, the sales proposal would change and clients were presented with another choice of collectible gold coins. The collectible gold coins, coins that were minted in 1933 or before, were highly recommend during the sales proposal because under federal law they can not be seized or confiscated. The fraud in this situation is that those collectible gold coins had inflated and highly increased prices compared to the coins' actual gold bullion content. Customers everywhere paid the increased prices. The duped clients were overpaying for gold coins, coins that they would never be able to regain the money for if they were sold; and if sold, always taking a big loss.

Sarasota Rare Coin Gallery has over 40 years of experience and are located in the beautiful and sunny Sarasota, Florida. At their address of 640 South Washington Blvd. they have a wonderful and spacious showroom. They offer the special service of in-home and on-site appraisals! Call (941)366-2191 or come into the showroom for your own special and memorable experience!

Forecast for 2012

Buying and trading gold and silver is major business for investors. But lately, the forecasting of gold and silver rates has become quite important and a big business in its own right. Companies and citizens alike have begun to depend on these types of predictions for their investments. So what have the forecasters predicted for 2012? It should be of no surprise to anyone following the market that there have been expectations that gold will continue to rise. But what may surprise you is the sheer amount of the calculated increase.

Citigroup is a well-known and established company. A branch of Citigroup, called CitiFX, claims that in 2012 the precious metal gold will climb to an amazing $2,400 an ounce. If that doesn't impress you, than take a look at their outlook for gold in coming years. Their forecast is that gold will reach a staggering $3,400 an ounce! CitiFX also claims that gold will eventually beat equities, bonds, and some currencies.

In the last decade alone, gold has shown great gains for its investors. According to statistics, gold has gained approximately fifty percent in returns every single year for over a decade. Some claim that as it continues to climb that it is inevitable that the price of gold will soon plummet. But all major analysts claim that it will not only retain its value, but that gold will greatly increase in value through 2012.

Visiting the majestic Sarasota Rare Coin Gallery at 640 S. Washington Blvd, in Sarasota, Florida can be a portal to the past. With over 40 years of combined experience in the art of numismatics, they are a reputable complete and full service coin dealer. Call (941)366-2191 for help placing an order or for any questions!

Why Gold Coins Are A Great Investment

There is a lot of interest for investing in gold in the past couple of years. While gold can be a great investment, there is a better way of investing. Gold coins can be a much safer way of investing in other forms of gold for many reasons. An even safer form than gold coins is rare gold coins that were made in 1933 or the years before that.

Many investors prefer gold coins because most coins are usually alike in purity, weight, and shape. These factors allow gold coins to be traded or sold without difficulty. The fact that they are easy convertible assets makes them an effective investment. Another great quality is that in times of hardship gold coins are easily liquidated giving a person fast access to their fortune.

Rare gold coins can be an indispensable asset to an investor. In the history of the United States there have been instances where the federal government has confiscated private citizen's gold, including coins. With the national debt at its highest rate ever, there is no guarantee that this could happen again. Fortunately, federal laws have been put into place to protect citizens from this unbelievable intrusion.

United States federal law states that coins made in 1933 or coins minted in the years before that can not be seized. This means that your gold investment will be safe from being confiscated by the government. Another benefit is that that the sale of your rare coins is a private matter, does not have to be reported, and therefore it is all profit since no taxes have to be paid. Coins minted after 1933, including bullion gold coins, are required to be reported to the government if sold, and is considered a type of income which you then must pay taxes on.

Sarasota Rare Coin Gallery is a full service coin dealer that can help you receive the most for your PCGS and NGC graded coins. With over 40 years of experience they posses complete knowledge of bullion, rare coins, modern coins and sets, foreign, ancients, and paper money and will help you to purchase or sell any of these items. Sarasota Rare Coin Gallery offer confidential sales and service, along with auction representation and want lists. Call (941)366-2191 or (800)447-8778 for any questions or to place an order, or visit their showroom at 640 South Washington Boulevard in Sarasota, Florida located in the Arts and Antique Building just north of the 301 and 41 split.

Gold on the Rise

Today gold gained more than a one percent increase. This is the highest that it has been in almost seven weeks. The price of spot gold rose right along with it, hitting the goal of the largest one day gain for the last three months. Not only did gold rise, but commodities, the stock market, and the euro gained points also.

These gains followed after the federal government proclaimed their intent to preserve crucial United States interest rates the previous day. The plan from federal policy makers is to maintain an almost zero interest rate until the year of 2014. The chairmen of the federal policy maker's claimed that more economic stimulus plans will follow. This is good information for those who invest in gold. Many who thought that if United States interest rates climbed higher it would impact the opportunity cost of possessing no-interest bullion.

Hopefully, if this continues gold will keep on rising to even higher prices. Gold investors should bask in the good news, but still be aware of other factors. An analyst at Commerzbank said to keep a watchful eye on the prices of gold because there is a chance that there is a possibility that it could be susceptible to profit taking since its prices have gained ten percent.

It is the opinion of Jeff Clark from Casey Research that given the expansive alteration of gold that began in September of 2011 that it will probably take gold until May to reach a new prominent high in price. That being said, he still believes gold is the safer bet than silver. Although silver has seen its fair share of great gains, it is a highly volatile market and can drop just as quickly as it gained.

Visit Sarasota Rare Coin Gallery in Sarasota, FL at 640 South Washington boulevard. Unable to make it in to the store? Then give us a call at (941)366-2191 or (800)447-8778 or email us at Sarararecoin@aol.com.
Our showroom is located just north of the 41 and 301 spilt in the Arts and Antique Building bottom floor. We look forward to seeing you and helping you find the best deals!

Gold's Forecast For 2012

Gold has done phenomenal in the year of 2011. Although it saw a slip dip in the last part of 2011, gold still rose nearly 15% outpacing US and EM equities. Many attribute the slip dip to slow holiday trading circumstances. Overall,  gold amazingly outperformed commodities according to numbers calculated by the GSG commodity ETF. The president of Midas Funds believe that gold will be around $1,950 an ounce. Tom Winmill, the president of Midas Funds had some thoughts and beliefs on what would be some good investments for gold in 2012.

Goldcorp is considered by many to be one of the biggest cap players. They have a lot of crucial aspects that are judged to be indispensable. A great deal of Goldcorp's mines are located in the more politically stable western hemisphere, a superb management team, and loads of capital compared to its capex forecast. Barrick Gold is in the same class and has many of the same features as Goldcorp. It is a big player in cap mining, and has an excellent record of being a finely managed company. Barrick Gold also possess approximately 140 million ounces of gold, which is the biggest gold reserve in the world today. 

Newmont Mining is a company that is fast expanding and growing. There are high hopes that the actual stock price will expand as much as 30-35% over the upcoming 5 years. Another great thing about Newmont Mining is that they have a forward annual dividend of 2.1% which can be increased. Northern Dynasty Minerals has some big growth on the horizon. It is currently working on a huge project that is located in Alaska and building the biggest undeveloped gold and copper deposits in the world today. Rangold Resources is a high choice for Joe Foster, head of gold investments at Van Eck. He believes that because the company is fully unhedged and showed solid earnings growth that it will be a good pick for 2012 gold investment. 

In business since 1979, Sarasota Rare Coin Gallery is located at 640 South Washington Blvd. in
Sarasota, Florida just north of the 301 and 41 split. A complete full service coin dealer, we also specialize in bullion, rare coins, modern coins and sets, foreign, ancients, and paper money. We offer confidential sales and services, auction representation and want lists. Please call for questions, help, or if you just need help placing an order at 941-366-2191!