Category: Gold Prices
American Eagle Gold Sales Top 50,000 Ounces


United States Mint American Eagle Gold Sales Top 50,000 Ounces.

The United States Mint announced last week that 65,000 American Eagle gold coins were sold in October. That amounted to 50,000 ounces of American Eagle gold coins sold during the month.

The most popular gold coin for the month was the one ounce gold coin, followed by the tenth ounce and the quarter ounce gold coin.

Investors continue to buy gold coins based upon the continuing economic crisis threat looming across Europe. The excessive printing of dollars also continues to support the price of gold coins. At Global Gold Group, we can help you leverage this opportunity with gold coins by investing in high quality gold bullion coins and collectable pre-1933 gold coins.

 
Is it safe to buy gold?


I would like to hear your thoughts about this topic. Today I posted the article I saw on latimes.com about Goldline.
Prosecutors have filed criminal charges against Goldline International Inc.
This is an article you need to read, Goldline is one of the largest precious metal dealers in the world, most people feel safe buying from companies like Goldline because of how large they are and really as you can see that’s not the case. I advise you to be cautious when investing your money through anyone, do your research. That’s why websites like ours exist. We show actual customer reviews from their experience on purchases from specific gold dealers, and live up to date prices on their products, like gold coins, gold bullion, silver coins, silver bullion, platinum coins and platinum bullion.

 
Gold dealer (Goldline.com) Prosecutors have filed criminal charges against Goldline International Inc.


Goldline gold & precious metals dealer is charged!

Prosecutors have filed criminal charges against Goldline International Inc., a Santa Monica company that is one of the nation’s largest gold dealers, for allegedly tricking customers into buying gold coins at inflated prices.

The Santa Monica city attorney’s office accused Goldline of running a “bait and switch” operation in which customers seeking to invest in gold bullion were instead sold gold coins that were marked up more than 50%

The  company, which used radio talk show host Glenn Beck as a pitchman, has seen sales soar in recent years along with the price of gold. In one ad campaign, Beck said Goldline was “a top-notch organization”  and in another said it was the “only gold company I recommend and use.”

Beck did not respond to an email seeking comment for this story.

The 19-count criminal complaint accused Goldline Chief Executive Scott Carter and five other current and former employees of promoting coins as a better investment than bullion without disclosing the markup.

Goldline, which had more than $500 million in annual sales, denied wrongdoing and vowed to fight the charges. Founded in 1960, the company employs more than 300 people.

“The so-called bait-and-switch allegation is preposterous because bullion accounts for more than 40% of the ounces of gold sold by the company during the past year,” Brian Crumbaker, the company’s executive vice president, said in a statement.

“We believe Goldline has industry best practices in customer disclosures enabling the most informed decisions.”

Among the charges against Goldline was one misdemeanor count of elder abuse for allegedly defrauding a client in July 2011. Prosecutors also accused the company of falsely promoting its coins as “rare” and claiming that bullion could be seized by the government while coins could not.

The company encouraged salespeople to steer customers into the overpriced coins by offering commissions on coin sales that were 2,000% more than the commissions for bullion sales, the complaint alleged.

Also accused in the criminal complaint were Goldline’s former CEO Mark Albarian, executives Robert Fazio and Luis Beeli, and sales agents Charles Boratgis and Stephanie Howard. Each of the defendants is scheduled to appear in court Jan. 4 for arraignment. Albarian could not immediately be reached.

Gold prices have soared in recent years, along with other precious metals. Just this year, gold has risen 22% to $1,728.70 an ounce on Wednesday.

stuart.pfeifer@latimes.com

 
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