Andy Schectman, a precious metals expert and co-founder of Miles Franklin, dives into the murky waters of gold and silver scams. He warns listeners about deceptive practices targeting IRA holders and shares real-life testimonials of financial loss. The discussion highlights the importance of proper custody and reputable storage solutions for precious metals. Schectman also sheds light on navigating taxation and the intricacies of silver transactions, encouraging vigilance while investing in these valuable assets.
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question_answer ANECDOTE
Elderly Client's Gold Scam Tragedy
Andy Schectman recounts an 85-year-old client distraught about losing his retirement to a gold IRA scam.
These scams have caused deep personal and family distress for many elderly investors.
volunteer_activism ADVICE
Safe Gold Purchasing Guidelines
Buy gold sovereign coins and one-ounce sizes to avoid excessive premiums on fractional coins.
Stick to recognized mints and consult reputable dealers for numismatic investments.
volunteer_activism ADVICE
Act on Gold IRA Scams
If caught in a gold IRA scam, reach out for help without shame, as these con artists are professional.
Challenge the company aggressively to improve your situation.
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