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<p>[QUOTE="Phil, post: 49840, member: 3002"]I appreciate any knowledge or help you can give me.</p><p><br /></p><p>I just became aware that my grandmother has been spending very large amounts of money (ca. $20,000 ) on gold and platinum coins sold to her by a telephone salesman. The prices on these coins start at around $400 and go up. She showed my her bills and I became alarmed. Most of the coins were minted in the past couple of years and had face values of $25.00 and $50.00 and so forth, so I was baffled that they could be sold at such a large markup after only a few years on the market.</p><p><br /></p><p>I asked her to show me one of them. It was a platinum coin about the diameter of a nickel , 2003 stamped on it and a $25 face value. It appeared to be minted in the USA, but I have no expertise so I don't know if it was a complete forgery or just a regular coin severely marked up. There were no markings on it that suggested it was minted for a special event or anything else that could explain its high price.</p><p><br /></p><p><br /></p><p>Would there be any conceivable reason for such a recent coin to be so costly so soon after minting, or is it as I suspect, and she has been taken in by a con?</p><p><br /></p><p>If the latter is the case, are there any regulatory bodies or consumer watchdog groups that specialize in this sort of thing that I would be able to contact? Thanks for any help or info you can provide.</p><p><br /></p><p>Phil[/QUOTE]</p><p><br /></p>
[QUOTE="Phil, post: 49840, member: 3002"]I appreciate any knowledge or help you can give me. I just became aware that my grandmother has been spending very large amounts of money (ca. $20,000 ) on gold and platinum coins sold to her by a telephone salesman. The prices on these coins start at around $400 and go up. She showed my her bills and I became alarmed. Most of the coins were minted in the past couple of years and had face values of $25.00 and $50.00 and so forth, so I was baffled that they could be sold at such a large markup after only a few years on the market. I asked her to show me one of them. It was a platinum coin about the diameter of a nickel , 2003 stamped on it and a $25 face value. It appeared to be minted in the USA, but I have no expertise so I don't know if it was a complete forgery or just a regular coin severely marked up. There were no markings on it that suggested it was minted for a special event or anything else that could explain its high price. Would there be any conceivable reason for such a recent coin to be so costly so soon after minting, or is it as I suspect, and she has been taken in by a con? If the latter is the case, are there any regulatory bodies or consumer watchdog groups that specialize in this sort of thing that I would be able to contact? Thanks for any help or info you can provide. Phil[/QUOTE]
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