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Experts’ Three Tips To Avoid Gold Scams – According to Professional Numismatists Guild

(Temecula, California) September 12, 2017 – Following the recent fraud charges filed by the Commodity Futures Trading Commission against a California gold seller, a trade group composed of veteran precious metals experts is urging investors to take three important steps before making any purchases of gold, silver or platinum ​bullion ​coins or ingots.
 
“To avoid paying too much when you buy or receiving too little when you sell, and to avoid potential scams, investors absolutely must know the credentials of the bullion dealer, not just what the dealer may tout on TV advertisements or with a fancy website,” cautioned Barry Stuppler of Woodland Hills, California, President of the nonprofit Professional Numismatists Guild (www.PNGdealers.org).  “If you don’t know gold, you’d better know your gold dealer,” Stuppler emphasized.
 
The Temecula, California-based Professional Numismatists Guild (PNG) was founded in 1955.  Two years ago, PNG established an Accredited Precious Metals Dealer program, APMD (www.APMDdealers.org), to provide consumer and investor protection in the marketplace.  APMD members must adhere to a strict Code of Ethics (https://apmddealers.org/apmd-code-of-ethics/) in the buying and selling of precious metals. The firm that was recently sued by the CFTC is not a member of the APMD program.
 
“The second step investors must take is know the current spot price of the precious metal they want to buy or sell. Bullion items, such as the American Eagle, Canadian Maple Leaf and South African Krugerrand usually sell for only about three to five percent above the current spot price depending on the quantity purchased. Beware of high-pressure selling prices that would force you to wait for gold or silver to double or triple in value before you could make a profit,” warned Stuppler.
 
“The third step is to take prompt delivery of the bullion items you purchase. Be wary of sellers who want to keep and store your gold, or claim it will take months to deliver items to you. The reason many people buy precious metal coins and ingots is because of their liquidity, but if you don’t have possession of the items then you can’t act quickly when you want to sell,” said Stuppler who also is President of the California Coin and Bullion Merchants Association.
 
For additional information about the Accredited Precious Metals Dealer program, call the Professional Numismatists Guild at 951-587-8300 or visit www.APMDdealers.org. A list of APMD member-dealers is online at https://apmddealers.org/apmd-dealers

The Australian Trilogy – incredible one-of-a-kind coin collection

The Perth Mint‘s most precious metals – gold, platinum and rose gold – and the rarest pink and violet diamonds exclusively sourced fom the Argyle Diamond Mine, converge to form three spectacular one kilo coins.

Gold, Silver Rebound; Fort Moultrie 5 oz. Bullion Coin Debuts

Gold futures advanced on Tuesday for the first time in seven sessions, bouncing from an almost 5-1/2-month low. Gold for December delivery climbed $ 2.80, or 0.2%, to settle at $ 1,224.50 an ounce on…

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US Mint Gold Coin Price Cuts Expected; Walking Liberty Likely $865

On Wednesday, Nov. 16, the United States Mint will likely cut prices on about two dozen gold coins. Debut pricing for the 2016-W Walking Liberty Centennial Gold Coin, which goes on sale Thursday,…

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Gold and Silver Prices Near 5-1/2-Month Lows

Gold futures declined Monday, marking a fresh, more than five-month low and driving their losing streak to six sessions. Gold for December delivery lost $ 2.60, or 0.2%, to close at $ 1,221.70 an…

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Gold, Silver and Platinum Tumble on Week; US Mint Bullion Sales Mixed

Gold futures declined Friday to a more than five-month low, extending their losing streak to five straight sessions and marking their largest weekly decline in nearly three and a half years. Gold…

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Gold Falls to More Than 2-Week Low; Silver Hits 5-Week High

Gold and silver futures were mixed yet again Thursday. Gold fell for a fourth day in a row and logged a more than two-week low while silver extended its winning streak to three sessions and closed at…

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Gold Futures Edge Lower; US Mint Bullion Coins Log Wide Gains

Gold and silver futures were mixed Wednesday, with the former down for a third straight session and the later up for a second day in a row. Gold for December delivery shed $ 1, or less than 0.1%, to…

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Perth Mint Gold Bullion Sales Soar in October

Australian bullion sales in October ranged from strong to soaring, according to the latest figures from the Perth Mint. The Mint’s gold sales rallied to their highest level in almost 3 1/2-years and…

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Gold Eases 0.4% Lower, Silver Rises 1.1%

Gold futures fell for a second session in row Tuesday. Other precious metals climbed, led by a 1.4% increase in palladium. Gold for December delivery shed $ 4.90, or 0.4%, to settle at $ 1,274.50 an…

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