| Author |
 Replies: 9 / Views: 7,681 |
|
|
Valued Member
United States
85 Posts |
I received an offer from this company to purchase 2006 Government Issue $5 Gold Coin. Specifically it says: U S citizens can buy 2006 govt issued $5 gold coins at an incredible at-cost price of only $81 each. Do we know anything about this offer? This company? Could it be a scam, or is this company above reproach and would never do anything like that?
|
|
|
|
Pillar of the Community
United States
1130 Posts |
I've sen that one one the papers here. My instinct tells me to stay away. Why are they selling the gold below spot price ? You can go to any Bullion Exchange in the world and get more than $810/oz. You have to ask yourself that. |
|
Moderator
 United States
23522 Posts |
This company has an Unsatisfactory record with the Better Business Bureau for failure to resolve complaints. I checked half a dozen ads from them in the last month, and found pricing varied according to date and location. They're even advertising in Canada, at the same pricing. Further research indicated that most attempts to buy were accompanied by a hard sell for other slabbed gold at not such a good price. However, I found quite a few who were actually able to purchase the advertised gold at the advertised price.
One source indicated that they weren't willing to talk about the deal until they had contact information for the customer. Between that and the hard sell, I suspect that they're using an attractive price to fish for marks who will then spend bad money after good, buying other coins at inflated prices.
A court case, Bouty v. United States Rare Coin and Bullion Reserve, is currently pending against them in California for fraud.
|
|
Valued Member
 United States
85 Posts |
Thank you so very much. You may have saved me from doing something stupid. My thinking was that at the time I received that ad, the spot price wasn't as much as it is now - was under the amount for which they made the offer. But I still wasn't willing to jump onboard until I checked with you gurus. Thanks again, and thanks for this great group of forums.
|
|
Pillar of the Community
Canada
1267 Posts |
They actually called me on my cell phone (I should of asked how they got my number). Anyways, I got a bad feeling almost right away as some of the questions pertaining to my collection were none of their business. Sooooo, I told them I was very interested in purchasing at least $100k worth of gold as soon as I got out of jail, and if he would be so kind as to give me his home address my business partner Bubba and I could just drop by. Needless to say, I haven't heard a word back from them and the emails have stopped.  |
|
Valued Member
United States
85 Posts |
Wowzer, are you a quick thinker. Can't understand why he didn't phone you back, since you plan to be such a good customer, you and Bubba.
|
|
Pillar of the Community
United States
749 Posts |
Jail...Bubba  |
|
Bedrock of the Community
United States
20753 Posts |
Just out of curiousity do you mean US Coin & Bullion or Universal Coin & Bullion? Very similar names. Note on or about page 4 of the 2008 Red Book there is an add for a company called Universal Coin & Bullion. In most of the Red Books they have adds and so far I've no complaints about some of the things they offer. That place has numerous offers below regular prices to get you hooked as a customer. Once you buy from them they will send you news type letters and occationally call with other offers but not so great. |
|
Valued Member
United States
85 Posts |
Dear "Just Carl",
I do so enjoy reading your responses, and more so since you laid out a bit about yourself, age, veteran, etc.
The ad came from United States Rare Coin & Bullion Reserve. The reason I didn't really suspect it too awful much is that it came at a time when the spot price was well below $820. So - are these the good guys or the bad guys?
|
|
Moderator
United States
23522 Posts |
quote:
So - are these the good guys or the bad guys?
In this specific instance, I think they're worth dealing with, if you can get around the moral implications. Evidence exists that they'll take you if they can, but if you can get the price they'll honor this deal. |
| |
Replies: 9 / Views: 7,681 |
|
Posted 02/16/2008 4:15 pm
