Beware These Gold/Silver Sellers!

In every reputable industry you invariably have a few bad eggs salted in with the honorable sellers. The precious metals industry is certainly no exception to this unfortunate rule. The following companies have raised flags with consumers who found their business practices less than satisfactory.

Monex Deposit Company http://www.monex.com/
Currently rates a D- with the BBB. Monex will offer to hold silver for you, or offer you leveraged accounts. I strongly advise against that. Their BBB report quotes the following:
"Complainants allege that they purchased precious metals based on advice and coaching from account representatives and as a result, they incurred substantial financial losses. A few clients complained that account representatives did not follow their instructions in applying funds for investment or that they failed to keep them informed, and as a result, they suffered losses they would not have incurred had their instructions been followed. The company responds to some complaints by disputing the allegations and stating that the investments are self-directed and they are not responsible for losses, denying requests for refunds or monetary compensation. In one case a partial refund was issued, but was conditional upon signing a release waiver composed by the company. "
Northwest Territorial Mint www.nwtmint.com

NWT Mint comes in with a C rating with the BBB. The primary complaints here lie in the long wait times (up to 6 months) for delivery of gold and silver bullion purchased from this company.

Goldline International www.goldline.com

Goldline rates an A+ rating with the BBB...which I find more than a little SUSPICIOUS. The last time I wrote about this company was in November 2010, when they had just moved up from an F to a D-. Rumors about buying a BBB rating have been kicked around, but who knows. Maybe they suddenly got religion...maybe not.

At any rate Congressional investigations were launched last year in response to a variety of predatory selling practices. One of their reputed favorite selling routines was to talk investors interested in buying gold or silver bullion coins into purchasing foreign numismatic collector gold coins with higher profit margins.

Check out these two links for other articles I've written about Goldline:
http://survivalus.blogspot.com/2010/07/goldline-international-scam.html
http://survivalus.blogspot.com/2010/11/goldline-scam-swiss-gold_30.html

Kitco www.kitco.com

Kitco has NO RATING with the BBB as their rating is "under review", whatever that means. My biggest problems with this company are their pool accounts, unknown delivery times for silver, and unknown and backlogged payment if you sold silver to them.

With Kitco Pool accounts your purchased silver and gold remains in their unallocated pool of precious metals. You get a statement for your gold or silver, and bills for trading fees. On the positive side, I guess, you get to easily sell and buy by punching a few keys on your computer.

I'm sorry, but any trust I had in my fellow man died with Enron and the Bernie Madoff scams. What's to stop a company like Kitco from preserving only a fractional supply of actual bullion, while reaping free profits for themselves with your assets? Bottom line, if it's in an unallocated pool, you don't know WHAT'S ACTUALLY SWIMMING AROUND IN THOSE MURKY WATERS!

One of Kitco's top men is Jon Nadler, a perennial gold and silver bear. He's been wrong so often in his precious metal price predictions since 2008, that he must surely envy a broken clock that's right twice a day! Internet rumors have speculated that Mr. Nadler has actually acted as Kitco's resident disinformation officer to help depress gold and silver pricing to preserve the "integrity" of the Kitco pool accounts by discouraging demands for physical delivery.

If interested, you can read The Best Places To Buy Silver http://survivalus.blogspot.com/2010/08/best-places-to-buy-your-survival-gold.html.

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies, APMEX Gold and Silver and Silver American Eagles.

Rick
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National Collector's Mint Fake 1877 Gold Piece!

The National Collector's Mint is hawking yet another worthless faux "collectible". This trinket is based on an extremely rare and valuable 1877 $50 gold piece weighing 2.5 ounces. Of course, the NC Mint's version is a base metal slug "lavishly covered" with 23 mg. of 24kt gold. If you do a little math you'll find 23 milligrams of gold is only worth $1.00 US dollar at present prices. I don't know about you, but I have a hard time calling $1.00 worth of gold "lavish"!

This cheap knockoff will set you back $19.95 + $6.00 for shipping. The words scam and ripoff just come to mind naturally when you consider the poor sheep they must be selling these cheap tokens to. Please, whatever you do, save your money and invest in real numismatic coins or genuine Silver American Eagles, the most popular silver bullion coin in the world!


Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies, APMEX Gold and Silver and Silver American Eagles.

Rick

CLICK ADS BELOW FOR FREE DISCOUNT!

National Collector's Mint SCAM WTC Coin!

Well it seems that the carrion bottom feeders at the National Collector's Mint are plumbing new depths in an effort to make money off an American tragedy. Numerous commercials running on TV are hawking a new bronze coin clad in a "whole" 14 mg of both silver and gold allegedly recovered from the site of the 9/11 New York World Trade Center. Yes, for only $29.95 + 6.00 shipping you can own this virtually worthless (gold content of the slug is worth $0.60 cents and the silver a few pennies), tasteless, and gaudy abomination!

The commercial goes on to say that a percent of the proceeds will be offered to the World Trade Center Memorial Foundation. What they don't mention of course during the TV spot, is that the WTC Foundation flatly refused to receive any funds or indeed to have any connection with the NC Mint. In fact, the directors of the Foundation consider the whole sordid business nothing but an exercise in profit taken from blood money.

I advise every American to flush their $36 down the toilet before even considering giving one red cent to these filthy vultures at the NC Mint seeking to make a buck off the honored dead of this great country. At least your hard earned money has an infinitely greater chance to find more noble recipients swimming about in your local sewer, than in the clutches of the NCM grave robbers!

PS. A "gentleman" named Avram C. Freeberg owns the the National Collector's Mint. He has quite the colorful background. Apparently, he was forced to pay a fine of $600,000 in 1988 for peddling smut in order to avoid jail time. He sounds like a real model citizen, doesn't he? I tell you what, if you're driving on a lonely country road one night and Avram pops up in you headlights - just do what you have to do. I have a feeling that if I'm walking nearby I'll most definitely be looking the other way (wink, wink)!

I think the above is what they call cleaning up Mother Earth. Now that's environmentalism everyone can agree on!

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):

Rick

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$2 Bill National Parks Scam!

The "New England Mint" as well as other questionable collector's item sellers are rolling out a new scam to separate the gullible from their money. They're taking one of the new $2 National Parks comemorative bills, colorizing it, and including a cheap frame for $10 + $5.95 P&H. Now it's bad enough they're charging poor fools $16 for a defaced $2 bill, but unfortunately the bad news doesn't stop there. The BBB (Better Business Bureau) has rated the New England Mint as an "F' due to scores of unresolved consumer complaints. The customer gripes range from a deceptive website that doesn't give you a final cost until the order has been submitted, to fraudulent charges levied on credit cards for products not ordered by the customer. Ripoff victims buying New England Mint products have also reported being repeatedly called and subjected to high pressure sales tactics. To make matters even worse, Customer Service has been described as rude, lying, and unscrupulous.

Avoid buying this faux collectible for the reasons already mentioned above, but mostly because it's a crappy investment that will NEVER APPRECIATE IN VALUE!

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):

Rick

CLICK ADS BELOW FOR FREE DISCOUNT!

$50 Buffalo "Chip" Ripoff Coin

Once more, sleaze merchants are working on yet another scheme to separate people from their money. The National Collector's Mint, whatever that is, is selling a "Tribute Coin" based on the popular and very valuable $50 Buffalo One Ounce Gold Coin. Sold as a "collector's item", this clunker is actually just a cheap bronze replica coated with a WHOLE 31 mg. of PURE GOLD! Of course, 31 milligrams of pure gold is actually .001 troy ounces, or only about $1 worth of the shiny stuff.

The price for this "real prize" of an item is $19.95 + $4.00 for shipping. Yes, it's not a lot of money nowadays, but it would be infinitely easier to just flush the $24 down the toilet and save yourself the trouble of ordering this faux-collectible.

As far as I'm concerned this coin falls into a category even lower than the base metal state quarters that uneducated consumers collect in hopes of a future return some day. I say lower because at least the state quarter slugs will always be worth .25 cents, while this buffalo chip of a coin is unlikely to even guarantee that pathetic value! Bottom line, if the coin isn't a genuine US Mint issued silver or gold precious metal coin, and preferably rare, it is unlikely to ever appreciate in value as a numismatic collectible or in the bullion market.

Don't waste your time and money buying pieces of trash like this replica coin. Use what available funds you have to buy genuine 90% US junk silver dimes, quarters, and halves dated before 1965, or .999 pure silver American Silver Eagles. APMEX and eBay are two good sources for both investments in your financial future!

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies, APMEX Gold and Silver and Silver American Eagles.

Rick

CLICK ADS BELOW FOR FREE DISCOUNT!