

Letter: Precious metals sales a scam

6:36 PM, Mar. 3, 2014  |  Comments
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For years, we have heard one commercial after another from various metal dealing companies, begging us to protect ourselves by buying gold and silver.

They guarantee both metals will increase in value dramatically, even as much as over 100 percent in a few years.

It has been a mystery to me why these companies are spending millions of dollars on ads trying to sell their gold and silver. If the metals are so wonderful and their value so sure to rise dramatically, why in the world don't these companies just save their advertisement money and hang on to their gold and silver?

If you owned a goose that lays golden eggs, would you be begging someone to buy her?

One time I contacted one of these companies, and I did discover one thing. They wanted to sell me gold coins at a cost greater than the current market value of the amount of gold in the coins. In other words, they wanted coin collectors' prices, which can fluctuate dramatically, and didn't want to talk to me about gold bullion.

If you are not a professional collector and have bought and sold coins via coin collectors, you know that you never get the alleged market value from a collector.

It has finally dawned on me why these companies are advertising so heavily to sell their gold and silver. Through their advertising programs they are inflating the prices of these metals. It is their advertisements that have caused the price of gold to rise so much during the last decade or so. They are now working on doing the same with silver.

When the great economic crash comes and the metal companies and all the people who have bought gold and silver dump their savings on the market, what is going to happen to the price of these metals?

How many gold coins will it cost to buy food for a week?

How much better is a devalued gold coin than a devalued treasury bill?

John Spires

West Monroe

Real Deals




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