Beware of Scams in 2023 “Gold Rush”

Above, the fake coins I purchased. Photo by Armand Vaquer.

As one who got lured into a "too good to be true" counterfeit silver coin purchase from scammers, it cannot be overstated to warn people to be careful when buying bullion and coins.

Luckily, I got the money I paid returned.

From EIN News:

TEMECULA, CALIFORNIA, UNITED STATES, January 30, 2023 /EINPresswire.com/ -- With gold prices now holding above $1,900 an ounce and silver at about $23, investors in the market to buy physical gold or silver should prudently take the time to shop around to avoid overpaying for purchases. They should also be wary of potential counterfeits in the marketplace and mistaking plated “gold coins” for actual bullion products, cautions leaders of the nonprofit Professional Numismatists Guild (PNG www.PNGdealers.org) and their Accredited Precious Metals Dealers (APMD www.APMDdealers.org) division.

“Adding gold, silver, or platinum bullion coins or ingots to an investment portfolio can be a smart choice, but knowing your seller can be a crucial choice,” advised PNG-APMD President Wayde Milas.

“To avoid potential scams, such as counterfeits, and to avoid paying too much when you buy or receiving too little when you sell, investors absolutely must know the credentials of the bullion dealer. If you don’t know gold, you’d better know your gold dealer,” stated Milas.

Buyers should be cautious of an increase in counterfeit coins offered in the marketplace by unscrupulous sellers and beware of scam artists trying to lure investors with urgent claims of too-good-to-be-true low prices and quick, guaranteed profits.

To read more, go here.