Gold Price Jump Has Potential for Gold-Selling Scams, Experts Caution

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With the recent, rapid jump in the price of gold, investors should beware of scam artists trying to lure them with urgent claims of too-good-to-be-true low prices and quick, guaranteed bullion market profits, cautions leaders of the Accredited Precious Metals Dealer program, a division of the nonprofit Professional Numismatists Guild (PNG).

“Don’t make a hasty decision based on slick advertisements,” advised Robert Brueggeman, executive director of the PNG. “Don’t make any purchase until you have shopped around and learned the competitive prices from reputable, accredited dealers.”

“If you don’t know precious metals coins, you’d better know your precious metals coins dealer! You don’t want to unwittingly buy counterfeits or send money to an unscrupulous seller who completely fails to deliver ordered merchandise,” warned Brueggeman.

Members of the PNG Accredited Precious Metals Dealer (APMD) program must adhere to a strict code of ethics in the buying and selling of numismatic bullion items and guarantee the authenticity of the merchandise they sell.

A directory of PNG/APMD members can be found at www.apmddealers.org/apmd-dealers. For additional information, contact the Professional Numismatists Guild at 951-587-8300 or by email at info@PNGdealers.org.

 

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