{"id":170730,"date":"2020-05-18T11:21:01","date_gmt":"2020-05-18T15:21:01","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170730"},"modified":"2020-05-18T11:21:01","modified_gmt":"2020-05-18T15:21:01","slug":"warning-shady-rare-coin-dealers-are-circling-like-vultures","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/warning-shady-rare-coin-dealers-are-circling-like-vultures\/","title":{"rendered":"WARNING: Shady \u201cRare\u201d Coin Dealers Are Circling Like Vultures"},"content":{"rendered":"
May 18, 2020<\/div>
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By Money Metals News Service<\/b><\/p>\n

Nervous investors have been pouring into the gold and silver markets over the past two months.<\/p>\n

Money Metals Exchange is proud to have helped almost 20,000 new customers with a precious metals purchase in recent weeks, many of whom came over from other dealers struggling with inventory shortages and ridiculous delivery delays.<\/p>\n

\"Bait<\/p>\n

A new wave of investors is getting the message; the Federal Reserve will never stop printing currency units and punishing savers with lower interest rates, Congress will never put deficits under control, and the government-terminated U.S. economy may not recover for years.<\/p>\n

For most clear-eyed investors, it is time to batten down the hatches.<\/p>\n

Lots of them are diversifying into precious metals<\/a>.<\/p>

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Unfortunately, shady coin dealers are out in force, trying to capitalize on this situation. We can see it in the proliferation of these dealers advertising on TV and radio with their celebrity spokesmen.<\/p>\n

If investors pick up the phone and call one of these outfits, they could get severely punished for making an otherwise good decision.<\/p>\n

Deciding to buy some gold and silver as a safe-haven makes a ton of sense. However, plenty of people with sound intentions will call the wrong dealer and let some high-pressure salesperson<\/a> convince them to buy dubious \u201crare,\u201d \u201cgraded,\u201d or \u201cproof\u201d coins.<\/p>\n

Instead of betting on gold and silver bullion as a safe haven, they find themselves gambling in the highly speculative and illiquid numismatic market. The winners are usually just the dealers selling coins for 2-3 times what their precious metal content is really worth.<\/p>\n

There is zero reason to buy numismatic coins \u2013 unless you are an experienced collector. If you are an investor or someone simply looking to preserve wealth, the price-transparent bullion market is where you want to be. Don\u2019t let yourself get derailed, regardless of how smooth or insistent the sales pitch may be.<\/p>\n

Here are some red flags to watch out for:<\/p>\n