Know Your Source!
Counterfeiting of gold bars and coins is on the rise (and silver will be next). This past month, two significant counterfeiting initiatives have come to light. First, bars comprised of gold plated tungsten, virtually identical in weight and dimension to the very popular 10 ounce PAMP Swiss gold bars, turned up in New York. Recently, fake Australian Perth Mint gold bars were discovered in large quantities in a factory in China.
Think about it, with gold at $1,700, counterfeiting bars and coins can be extremely lucrative. And, as prices continue to increase, it will become even more lucrative.
How to protect yourself???
- Repurchase. We buy back any and all items we originally sold. We authenticate all items offered to us by the public before placing it in our inventory.
- Recourse. Should a problem ever arise, do you want to have direct access to the owner of the firm or a call center representative at some firm in California or elsewhere?
Authenticity. When gold goes to $3,000 plus and silver breaks $100, authenticity of the items you purchase will become much more important than having saved a few dollars via internet/mail order. Authenticity will become the first and overriding concern.
All Things Considered – John’s Commentary
If you know us well enough you know that we refuse to employ scare tactics in our marketing and communications. Counterfeiting is a genuine and increasing problem in the industry. We only buy from the most credible mints and wholesalers in the industry and that will never change.
Quote of the day: “Buying precious metals should bring peace of mind. However, cheap and peace of mind don’t always arrive in the same package.” – John Fisher
