By: John Fisher
There are many choices when it comes to buying (and selling) your gold and silver. We are all familiar with the television, radio, newspaper and magazine articles. You have probably received direct mail. An advertisement seems to pop up every time you visit an internet page. Each offer is more tantalizing than the next. Who should I call? Can I trust them? Do they have my best interest at heart?
I have surveyed most of the large marketers. I have received their “investor packets” and have been called repeatedly by their account executives. Here is what I have found:
- Marketing is very, very expensive. The radio and TV ads, the internet banner ads and the fancy print material costs a lot of money. Glenn Beck reportedly is paid $3M by a large mass metals marketer for just his endorsement alone.
- Account Executives have one job – to sell you as much as possible right now! A prospect has a short shelf life. You and the salesperson have never met. You have no relationship. The account executives know they have to close you now. Some organizations utilize a “warm-up” salesperson that is good at engaging. Then, you are turned over to the “closer” who is very good at extracting money.
- Account executives have one motivation – maximize their compensation and reach their bonus levels. Period. The average account executive will make a minimum of $100k per year. Some make well over $300k. What they know about you is the purchase capacity ranking they assign you. Most often they sell those items which carry the largest commissions. It is here that the “rare coin” and “confiscation” myths are utilized most heavily.
The owner takes an entirely different approach. He or she knows that their business lives and dies by treating their customers fairly. If they
don’t, not only will their customers go elsewhere, but referrals will dry up as well.
Because they own the business, they are most often deeply invested in the industry. They pride themselves in helping educate their prospects and customers and consider it an important part of their value offering. Account executives can always jump ship to greener pastures. An owner has a financial and emotional stake in the business. They have worked too hard and too long to jeopardize their customer relationships.
If you can’t talk to the owner, move on.
All Things Considered – John’s Commentary
Action to take: If you haven’t already done so, consider swapping some of your silver for gold. The Gold:Silver ratio is at an extremely attractive swap level. In the end, we intend to have more ounces of metal with no additional cash outlay.
What to buy: South African 2 Rand and ½ Rand coins, Austrian Corona’s and 90% silver coin – all are currently available at a very low premium with free shipping.
Quote of the day: “Gold will be around, gold will be money when the dollar and the euro and the Yuan and the ringgit are mere memories.” – Richard Russell
