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...10 Red Flags to Watch Out For When Investing in Rare Coins and Precious Metals...
Get The FACTS! *Did you know that in most cases you're paying a 50% mark-up on coins you buy ... *Most recommendations to you are based on inter-office sales contest, bonuses, etc.
SPECIAL REPORT 10 Red Flags to Watch Out For When Investing in Rare Coins and Precious Metals 1. High Pressure Sales Tactics: No investment counselor should try to force you into a hasty decision. When it comes to investment scams, there is almost always some reason why you must act immediately. In the real investment world, a good deal is as good a deal tomorrow as it is today. If an advisor does not treat you with the respect you deserve, you should not do business with that advisor or their company. 2. Promises of Guaranteed Investment Returns: There are NO guarantees in the investment world. If someone guarantees you a return on a numismatic or bullion investment, remember the old saying: “If it sounds too good to be true, it probably is.” 3. No Written Buyback Policy: Legitimate coin and bullion dealers make a two-way market in the products that they sell you. In other words, honest coin dealers both buy and sell. If a dealer does not have a written buyback policy, you should not assume that they will buy your coins back, nor should you rely on the verbal representations of a salesperson. 4. No Return Policy: Honest coin dealers allow you to return your numismatic purchases for a full refund if you are not satisfied. The return period varies, but usually falls somewhere between 7 and 10 days. If a dealer does not have such a written policy, you should not assume that they will allow you to return an item for a refund, nor should you depend upon the representations of a salesperson. Keep in mind that such policies cannot and do not apply to bullion products, whose value literally changes from minute to minute. 5. High Prices: With the advent of the internet, it is possible for a coin buyer to make sure they are not paying too much for a coin. Never pay retail! No matter what a coin dealer tries to tell you as an excuse or justification for a high price, you should never feel any obligation to pay one cent more for a coin than the lowest available price. 6. Churning: Beware of a coin dealer or salesperson who recommends that you trade too frequently. Coins are a long-term investment best held for 3-7 years. Excessive trading is seldom justified and often runs up commission expenses making a profitable investment experience impossible. 7. Shipwreck Coins: Unfortunately, some of the worst numismatic investments of the past 20 years have been associated with recoveries from shipwrecks. These coins are over-hyped and sold at unjustified premiums. Very often, the marketing and sales techniques associated with treasure coins have also implied far greater rarity than is the actual case. If a shipwreck coin is a great deal, you do not have to buy it when it is first released. 8. Coins Graded by Obscure Grading Services: You should only buy coins graded by NGC (Numismatic Guaranty Corporation) or PCGS (Professional Coin Grading Service.) Coins graded by other services involve too many risks. 9. Huge Advertising Budgets and “Slick” Literature: Someone has to pay for national TV and radio ad campaigns and someone has to pay for expensive color brochures and mailings. If you buy from a dealer who does those things, that someone is you! 10. Dealers who insist that you pay by credit card: You should be able to pay for your coins by any one of several methods: check, money order, bank wire, or credit card. If a dealer insists that you pay by credit card only, this can be indicative of something sinister.
MyCoinBroker.com
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