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Just got an email from the PNG. - Possible Negative Story
poorguy
Posts: 4,317 ✭
There are indications that a New York area member of the U.S. House of Representatives will publicly criticize the business practices of a major gold dealer (who is NOT affiliated with the PNG) tomorrow, Tuesday, May 18.
Because of anticipated news coverage of his negative comments, you may get questions from your current or prospective retail customers about your profit margins, the costs you charge for precious metal bullion coins above their melt value, and so on. The anticipated stories may add to the confusion some customers -- and members of the news media -- already have about differences between bullion coins and rare coins, either raw or with third-party grading.
Perhaps your customers won't ask, but if you do hear from them you should be prepared to candidly and concisely talk to them about these important topics and clear up any misunderstandings or confusion. Your local news media might contact you for comments or to photograph gold coins at your store or office.
Because of anticipated news coverage of his negative comments, you may get questions from your current or prospective retail customers about your profit margins, the costs you charge for precious metal bullion coins above their melt value, and so on. The anticipated stories may add to the confusion some customers -- and members of the news media -- already have about differences between bullion coins and rare coins, either raw or with third-party grading.
Perhaps your customers won't ask, but if you do hear from them you should be prepared to candidly and concisely talk to them about these important topics and clear up any misunderstandings or confusion. Your local news media might contact you for comments or to photograph gold coins at your store or office.
Brandon Kelley - ANA - 972.746.9193 - http://www.bestofyesterdaycollectibles.com
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Comments
Worry is the interest you pay on a debt you may not owe.
<< <i>I wonder if this is just an election year stunt to get some publicity and a few votes. >>
Would that be on the buying or selling end?
My guess is it's a buyer who claims to be paying high prices for your gold, but is actually offering very little as compared to melt.
<< <i>"...business practices of a major gold dealer..."
Would that be on the buying or selling end?
My guess is it's a buyer who claims to be paying high prices for your gold, but is actually offering very little as compared to melt. >>
Hopefully, you're right!
The name is LEE!
The solution, of course, is to regulate the business and to redistribute some tax dollars to people stupid enough to have lost money.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>"...business practices of a major gold dealer..."
Would that be on the buying or selling end?
My guess is it's a buyer who claims to be paying high prices for your gold, but is actually offering very little as compared to melt. >>
I bet its goldline. They like to advertise on politic related media outlets so it only makes sense theyd draw attention.
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There's big money in gold and it's no surprise that the gov't would start looking around. The coin industry is likely to see increased scrutiny thanks to the dollar volume. Just a fact of life...
<< <i>There are indications that a New York area member of the U.S. House of Representatives will publicly criticize the business practices of a major gold dealer...
The solution, of course, is to regulate the business and to redistribute some tax dollars to people stupid enough to have lost money. >>
I hope you aren't serious. Redistribution of tax dollars to stupid people is IMHO is "STUPID". With the current government I can see how that will be the solution but they better get it done before November.
<< <i>There are indications that a New York area member of the U.S. House of Representatives will publicly criticize the business practices of a major gold dealer...
The solution, of course, is to regulate the business and to redistribute some tax dollars to people stupid enough to have lost money.[/q
Andy, I assume and hope this reply was made in jest and sarcastic in nature
Not at all. This is America. Get with the program.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
"Keep your malarkey filter in good operating order" -Walter Breen
<< <i><< There are indications that a New York area member of the U.S. House of Representatives will publicly criticize the business practices of a major gold dealer...
The solution, of course, is to regulate the business and to redistribute some tax dollars to people stupid enough to have lost money. >> >>
<< <i>Andy, I assume and hope this reply was made in jest and sarcastic in nature
Not at all. This is America. Get with the program. >>
Hey Andy, You have more money than I do, give me some of yours. You have a nicer car than I do. Sell it and give me half the money. Hey Andy, you have a nicer house than I do. Sell it and give me half the money.
That is NOT my America. This country was built on the backs of hard-working self-responsible people who took their lumps when times were bad and made it rich from the sweat of their own brow, not from handouts from a liberal nanny-state government eager to reward the laziest and the dumbest and punish the smartest and the hardest working.
<< <i>Hey Andy, You have more money than I do, give me some of yours. You have a nicer car than I do. Sell it and give me half the money. Hey Andy, you have a nicer house than I do. Sell it and give me half the money.
That is NOT my America. This country was built on the backs of hard-working self-responsible people who took their lumps when times were bad and made it rich from the sweat of their own brow, not from handouts from a liberal nanny-state government eager to reward the laziest and the dumbest and punish the smartest and the hardest working. >>
Where have you been?
Good Story start for Numismatists:
"A popular-again but deceptive "coin and bullion" dealer trend showing up in many of our nation's cities is really nothing other than profiteering or outright piracy in sleezy, marketing-savvy rags. This type of company lures unsuspecting, greedy or even ignorant customers to shady, temporary hotels or backroom meeting areas and fleeces bullion in any form ("unwanted" jewelry, old coins, etc.) from them with the promise of high prices. But when one analyzes the quotes received from these fly-by-night operations, especially in light of the remarkable rise in bullion prices in recent months, an informed customer realizes the prices offered are far below those offered by legitimate, professional coin and bullion dealers..."
Bad Story start for Numismatists:
"Yet another example of American Greed has been noted by Governmental Authorities and is attracting the ire of the Senate and House leadership: Coin and bullion dealers. These companies exist on exorbitant fees charged to unsuspecting and trusting customers who bring in cherished family heirlooms or valuable mementos believing these dealers will offer fair prices, but walk out of these stores saddened by the ridiculously low prices offered. Some customers have reportedly visited the same store the next day and see their "difficult to sell" or "not too valuable" item offered for sale 2x or 3x or more than what they were paid..."
I wonder which method will be employed? <Apple-to-orange comparison (gold-party "company" vs. dealer store-front) intentional...>
<< <i>is 'cash for gold' a major gold dealer? >>
cashforgold will give you a decent deal.....but cash4gold will not..... 2 completely different bullion dealers
<< <i>The first shoe is about to drop... >>
Goldline girds for Weiner assault -
Sorry, I couldn't help myself. Weiner assault? HAHAHA. Cheap humor. Gotta love it.
I believe most customers will understand that comment !
<< <i>
<< <i>The first shoe is about to drop... >>
Goldline girds for Weiner assault -
Sorry, I couldn't help myself. Weiner assault? HAHAHA. Cheap humor. Gotta love it. >>
Was there ever a Heinz-Weiner bill in Congress??????
<< <i>
<< <i>
<< <i>The first shoe is about to drop... >>
Goldline girds for Weiner assault -
Sorry, I couldn't help myself. Weiner assault? HAHAHA. Cheap humor. Gotta love it. >>
Was there ever a Heinz-Weiner bill in Congress??????
not in congress, but isn't Weiner married to one of the Heinz heirs?
TD
<< <i>not in congress, but isn't Weiner married to one of the Heinz heirs?
Not according to wikipedia:
Weiner is engaged to Huma Abedin, a longtime personal aide of Hillary Clinton, to whom he proposed on May 23, 2009.
If that's the new standard, the insurance and pharmaceutical industries are going to have to rethink their marketing strategies.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
The Congressman would have made a much stronger point if he kept the politics out of it and gave actual examples of what people paid and what they should have paid. Instead, I am left with the impression that the Congressman is using this as a political attack (or perhaps retaliation) against his media opponents and actually have little idea whether Goldline was right or wrong.
Edit: Okay, I broke down and did my own investigation. The prices on the Goldline site seem high to me. However, it is not Dennis Miller or Glenn Beck's job to make sure you get a good deal on your purchase, any more than it is Troy Polomalu's job to make sure your hair is well-conditioned after buying Head-and-Shoulders shampoo. They are paid spokespersons, and everyone knows it.
bullion market. If 10% of the people buying from Goldline spent their money at a local coin
show or a local coin shop, and paid reasonable prices for what they are getting, how would
that be a bad thing? I have seen all the comments about the TV telemarketers on the
boards -- how is Goldline any different?
Goldline reply
The attack certainly seems political.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
If nothing else, Goldline should have been embarrased into lowering their markups.
can defamation be called in here?
Hope he ends up on the short end of the stick as well.
<< <i>Beck had the owner of Goldline on today and shredded Weiner ... >>
There's a shocker!
<< <i>There are indications that a New York area member of the U.S. House of Reprehensibles will publicly criticize the business practices of a major gold dealer (who is NOT affiliated with the PNG) tomorrow, Tuesday, May 18.
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Worry is the interest you pay on a debt you may not owe.
I figure the backstory reason may be that this is an attempt to draw connections between advertisers and the talk show hosts. I'm not sure that it would be anything illegal for Goldline to have Glen Beck promote gold ownership while Goldline advertises on his show.
You'd think that was a crime or something. Now who perpetrated this on the people ?
<< <i>Ironically, it's because of lefty congressmen like Weiner that people are buying gold. >>
Really? I started buying gold when the economy collapsed during the Bush Administration.
<< <i>
<< <i>Ironically, it's because of lefty congressmen like Weiner that people are buying gold. >>
Really? I started buying gold when the economy collapsed during the Bush Administration. >>
You are correct again Captn......