Goldline Scandal

Discussion in 'Coin Chat' started by vnickels, Oct 10, 2010.

  1. Player11

    Player11 Bullish

    Until someone can show a detail and pricing basis on the $145 k vs $85 k this is all just speculation. A 70% markup over cost - so somebody's not in it for 5c on the dollar? Many dealers mark up coins and currency 100% anyhow. Many shops whip out a blue sheet on certified coins offered over the counter paying 50-60% of grey sheet bid. Shall we tar and feather these guys too? I don't think so, they're just buying it right.

    The guy paid retail and if too much well too bad so sad - its called tuition. My GF, an x stripper has a term they use in the strip club business for people who spent way too much - PL (Pathetic Loser).
     
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  3. green18

    green18 Unknown member Sweet on Commemorative Coins

    Just a thought. If I had that much "jing" to throw into an investment, I sure as heck wouldn't sink it all into one thing. I'd spread it around, and not rely on any one option to be a "winner". Sounds like this guy got a "tip" from a friend/colleague who said this sort of investment was a sure thing. Found out otherwise real quick didn't he......
     
  4. vnickels

    vnickels Matt Draiss Numismatics & Galleries

    Buyer beware I guess.
     
  5. GDJMSP

    GDJMSP Numismatist Moderator

    Let's just say that if you see it advertised on TV, in large full page ads in newspapers and magazines - then you probably should not be buying any ;)

    And green - if somebody had $140k to invest in gold you can bet they have several times that much invested in other things as well.
     
  6. vnickels

    vnickels Matt Draiss Numismatics & Galleries

    If it is "as seen on tv" it means stay away!
     
  7. quartertapper

    quartertapper Numismatist

    This really is nothing new. I personally would do a whole lot of research before dropping $140k on anything! He's definately not alone though. People get taken for a ride every day on those cable coin dealer's shows. Did anyone ever find a good deal on those fraud-a-thons?
     
  8. green18

    green18 Unknown member Sweet on Commemorative Coins

    Doug, dear friend, if he has that much invested else ware, then He can afford to loose a few shekels here and there......
     
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