I noticed quite a few hits on my site for the search term “Glenn Beck and gold” this morning, which means Glenn Beck is using the fear of what an Obama election can bring to America in getting investors to buy gold from the gold dealer that he recommends and gets paid to recommend. By clicking here you will find the search terms on my website buygoldandsilversafely.com just from three hours this morning where Glenn Beck was searched for multiple times.
While it may be true that Glenn Beck has much to be fearful of with four more years of an Obama administration, and gold is a good way for one to insure themselves from the future inflation that the additional debt burden will bring, one should ask one question of all gold dealers before buying their gold;
If I buy these coins from you today at price $x that you quoted me, and sell them immediately back to you today, how much will you give me for them?
But be careful with the answer they give you. A firm may tell you they only charge you 1% on the buyback of the coins, but you need to get the exact price since that buy back price can be 15% to 30% or more lower than what you paid for the coins. Also, some dealers may say they don’t have any charge to you their customer when you sell the coins back, but you still need to get a buyback price from them since again, that price may be much lower than you think.
Also, keep in mind, it’s easy for gold dealers to rip-off their customers by selling them gold because most people don’t know anything about buying gold (the Fed doesn’t like competition). The company Glenn Beck touts sold $500 million in coins last year. I am confident Glenn Beck got a good chunk from them since according to a New York Times reporter who interviewed me, “they have a shrine to Glenn Beck over there.” I don’t need to mention their name here, but they are advertised all over Glenn Beck’s site since they have an exclusive deal with him to promote their company. You can also Google; “Santa Monica city sues gold company” to learn more. Said company, according to the lawsuit, can no longer use the term “confiscate,” but I still know of many gold dealers who still try to scare their clients into buying high commissioned gold by still saying certain coins, like European or Numismatic pre-1933 coins, might be confiscated.
Lower Buyback Prices On European Coins and Numismatic Coins
These lower buy back prices are typically charged on European coins or Numismatic coins (pre-1933 U.S. coins). For European coins, this would be the Swiss 20 Franc, British Sovereign or French 20 Franc Rooster to name a few. I have had clients call me that tell me the dealer wanted to charge them upwards of 30% on these coins. The problem is, the salesman tell the caller they “might have more value to them someday because they are rate” or “might not be confiscated” or “non-reportable.” Baloney!
The same goes for numismatic coins like the St. Gaudens or Indian Head early American gold coins. They might be a piece of history, but not worth paying up for. If we ever did get to a barter situation again, all the vendor who has the things you want is interested in will be; “what is the weight content of the gold you have?”
The Only Gold You Need To Buy
The only gold you need to buy from any dealer, not just mine, is the kind of gold that has the lowest premium to the current spot price. We here at Buy Gold and Silver Safely only charge a 1% fee on top of the current ask price which we list on our site daily here: https://buygoldandsilversafely.com/prices-html/
There are no bait and switch tactics. There are no sales come ons about why one type of gold that is rare or even a proof coin might do better than bullion coins. In fact, we here at Buy Gold and Silver Safely don’t even sell the European, Proof or Numismatic coins. It is a philosophy we have that simply says, our clients will benefit from having the most gold or silver in their hands and should not have to pay more for it. Yes, we survive as a company on a small margin of profitability, but we also don’t have the overhead expense of paying for 100’s of sales people and those internet, TV and radio ads that the high commissioned companies pay for. How else do you think they can afford these commercials except by charging you high commissions?
While Glenn Beck may be good at telling the story of our Founding Forefathers and understand how our nation is turning for the worst with the added debt our government and the Fed is accumulating, especially with Presidents who do nothing about curtailing their spending but just increase the deficits (George W. Bush included), I don’t think even he would pay 15% to 30% commission to buy gold coins. In fact, I can’t call those who do so “stupid,” and one would think Glenn Beck’s not stupid (perhaps greedy?), but please do your homework folks. Gold is the answer to this spending madness, but buy the right kind and ask the right questions.
Just do your homework and buy the right kind of gold and ask the right questions!
If you haven’t read my free report, “4 Ways Gold Dealers Rip You Off,” click here to read: https://buygoldandsilversafely.com/download-4-ways-gold-dealers-rip-you-off/
On the gold front, I go against most in my industry and am still dollar bullish because of the mess in Europe (the Euro makes up 54% of the U.S. Dollar Index), which we are now seeing the Eur/USD break lower under 1.28. I have been consistently warning of the dollar getting stronger over the short term and based on my research and the data I see, Europe is in much worse shape than the U.S. (as bad as it is here).
The best way to invest in gold is to dollar cost average into a position of gold bullion coins or gold bars, hope the price goes lower so you can get a better overall price and let our government take care of the future price appreciation through their spending programs they never curtail (because they always have a complicit Federal Reserve to pay for things).
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
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