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Rep. Anthony Weiner Hits Glenn Beck, Goldline for "Unholy Alliance" to Sell Gold...Big Wei

GoldbullyGoldbully Posts: 17,988 ✭✭✭✭✭
Is Weiner a Weiner....I say absolutely!!!!!


Rep. Anthony Weiner today criticized precious metal dealer Goldline, Inc. for using what a release from his office described as "aggressive sales tactics, conservative spokespeople and rhetoric to sell over-priced gold coins to unsuspecting consumers."


Goldline is associated with talk radio and Fox News host Glenn Beck, who has often mentioned it on his Fox show and radio program. Goldline is also sponsor of the radio show.


Weiner accused Beck and other conservative spokespeople (among them Mark Levin and Fred Thompson) of using "their shows to prey on the public's fears of inflation and socialist takeovers while actively promoting the purchase of gold coins as insurance against this purported government overreach."


"Simply put, Goldline is little more than a gold peddler posing as an investment advisor, an unfortunate byproduct of the Tea Party movement," Weiner's office said.


Weiner has released a report detailing what he calls Beck and Goldline's use of "tall tales about the future of gold" to sell gold coins. In it, he says Goldline "grossly overcharges" for coins and "formed an unholy alliance with conservative pundits to drive a false narrative" that they are a good investment.


On his radio show today, Beck said he "loves" Goldline and added that "this is again another arm of this administration coming out to try to shut me down." He evoked McCarthyism and suggested Weiner's charges are baseless.

"I'm really interested to see how I'm bilking, how I'm bilking people," he said. "I'm really interested to see because I personally -- because this is what they're saying, that I'm playing on fear and trying to get people to buy. I personally, personally have more than 10% of my savings in gold...If I'm such a scam artist, why would I be scamming myself?"


Goldline is one of many gold sellers who have advertised on Beck's Fox show, though it is currently the exclusive gold sponsor. Beck has suggested that gold could offer protection in the event of "the end of the almighty dollar."


Weiner, who is on the House Subcommittee on Commerce, Trade and Consumer Protection, says Beck "should be ashamed of himself." He has written letters to the SEC and FTC asking them to investigate Goldline and is proposing legislation to force the company to "fully disclose their dishonest business practices" by showing consumers "their astronomical markups, and deceitful promises of profitability."


Goldline president and CEO Mark Albarian told Politico that Weiner "doesn't get" his business.


"It feels like it's politically motivated in that neither the Congressman nor anybody from his office ever contacted executives form the company to really ask the important questions that they need to ask to understand this business," he said.


Correction: An earlier version of this post said Glenn Beck was a paid spokesman for Goldline. While Beck in the past has been listed as a paid spokesman on Goldline's website, the Goldline site was later clarified to note that the company was only a sponsor for his radio program.

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Comments

  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    The irony is that Rep. Anthony Weiner's voting record in Congress convinces me to buy gold.

    Go figure...
  • gecko109gecko109 Posts: 8,231
    Anyone here know their mark-up on a typical 1 oz piece of gold?
  • derrybderryb Posts: 37,704 ✭✭✭✭✭
    Jealous that he hasn't been asked/paid to be a spokesman.

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • From their adds Goldline does just over 500million in sales per year. It might seem like a large number, but IMO Goldline or Beck don't have the influence to move the world's gold market.
  • gecko109gecko109 Posts: 8,231
    Just talked to a "trader" at Goldline on the phone. Cost for 1oz AGE is $1280 right now based on POG of $1227. How is that "grossly overcharging"? Weiner is a moron.
  • RedTigerRedTiger Posts: 5,608


    << <i>Just talked to a "trader" at Goldline on the phone. Cost for 1oz AGE is $1280 right now based on POG of $1227. How is that "grossly overcharging"? Weiner is a moron. >>



    Goldline might have lowered their prices in reaction to the charges. Here is what seems to be an impartial review dated 2009 from:
    http://www.inflation.us/reviews/goldline.html

    link

    >>...
    At the time of our review, Goldline's only Bullion Gold American Eagles in stock were the 1 oz coins and it was selling for over $150 more than Gainesville Coins. Goldline's 1 oz Bullion Silver American Eagles were selling for over $9 more than Bullion Direct. Goldline is one of the most overpriced companies in our review.

    Goldline did not charge an additional fee for purchasing with a credit card. The shipping/processing fee was only $6.95. They did not offer an expedited shipping option.

    Our order from Goldline arrived in 24 days (15 business days). Our coin came with a very impressive display case, but this was not enough to make up for their high prices and slow shipping.
    >>

    It does sound like the complaint is almost entirely politically motivated because of who Goldline sponsors. Goldline as a company has been around since 1960. Even $150 over on an ounce of gold, isn't that bad, considering the cost of those radio ads. Many telemarketer companies also have some much higher margin products that gets pushed by the salespeople, after getting customers in the door with the low margin stuff.
  • gecko109gecko109 Posts: 8,231
    "Goldline might have lowered their prices in reaction to the charges."

    That is a possibility, but wouldnt that be admitting guilt? I did not ask if their spreads have always been in the 5% range though.
  • RedTigerRedTiger Posts: 5,608


    << <i>"Goldline might have lowered their prices in reaction to the charges."

    That is a possibility, but wouldnt that be admitting guilt? I did not ask if their spreads have always been in the 5% range though. >>



    If both sources are accurate, Goldline did lower their percentage premiums over spot between the time of what looks to me to be an impartial review in 2009, and your phone call. The 2009 review states that Goldline was one of the highest priced dealers reviewed, a full $150 above some other dealers for the same one ounce gold coin, or about 15% higher. On silver eagles, $9 or about 45% higher. That's a big difference for one ounce coins.

    It is ironic that you of all people called Goldline and posted information in their defense, because not long ago, you might have called a dealer charging an extra 15% on gold, and 45% on silver various colorful names.
  • gecko109gecko109 Posts: 8,231


    << <i>

    << <i>"Goldline might have lowered their prices in reaction to the charges."

    That is a possibility, but wouldnt that be admitting guilt? I did not ask if their spreads have always been in the 5% range though. >>



    If both sources are accurate, Goldline did lower their percentage premiums over spot between the time of what looks to me to be an impartial review in 2009, and your phone call. The 2009 review states that Goldline was one of the highest priced dealers reviewed, a full $150 above some other dealers for the same one ounce gold coin, or about 15% higher. On silver eagles, $9 or about 45% higher. That's a big difference for one ounce coins.

    It is ironic that you of all people called Goldline and posted information in their defense, because not long ago, you might have called a dealer charging an extra 15% on gold, and 45% on silver various colorful names. >>




    And I would have blasted goldline as well, had the rep told me their selling price was $150 over on common gold. But because they are a very reasonable $50 over, I have no gripes.
  • RedTigerRedTiger Posts: 5,608
    Let me add, that I've never had an ethical problem with various dealers charging what they want for coins. Some people shop at Costco, some at Target, some at Nordstroms. There isn't any ethical right or wrong with the store that sells shirts at a 30% markup or 70% or even 400%.

    Folks need to keep in mind that when a firm runs radio ads on highly rated radio shows, the firm has to pay that freight. Aside from short term promotions, it is the customers that pay the freight. For gold sellers, the straight bullion items are sometimes used to get customers in the door. Sometimes sold at cost or even below cost in limited quantities. The real money is usually made on much higher margin product, the up sell, so to speak.
  • gecko109gecko109 Posts: 8,231


    << <i>Let me add, that I've never had an ethical problem with various dealers charging what they want for coins. Some people shop at Costco, some at Target, some at Nordstroms. There isn't any ethical right or wrong with the store that sells shirts at a 30% markup or 70% or even 400%.

    Folks need to keep in mind that when a firm runs radio ads on highly rated radio shows, the firm has to pay that freight. Aside from short term promotions, it is the customers that pay the freight. For gold sellers, the straight bullion items are sometimes used to get customers in the door. Sometimes sold at cost or even below cost in limited quantities. The real money is usually made on much higher margin product, the up sell, so to speak. >>



    There is no real "ethical" problem in selling the EXACT SAME object for more than a competitor does. Thats perfectly fine. But then there is nothing wrong with me pointing out that this is occuring either!
  • gecko109gecko109 Posts: 8,231
    "Did Weiner go after Liberal Montel Williams for selling cheap coins for 10x their value because Obama was on them????? Of course not. "


    Post of the day!!!imageimageimage
  • jmski52jmski52 Posts: 23,283 ✭✭✭✭✭
    Let me add, that I've never had an ethical problem with various dealers charging what they want for coins. Some people shop at Costco, some at Target, some at Nordstroms. There isn't any ethical right or wrong with the store that sells shirts at a 30% markup or 70% or even 400%.

    Folks need to keep in mind that when a firm runs radio ads on highly rated radio shows, the firm has to pay that freight.


    Bingo! I'm sure that national TV & radio advertising isn't free, at least not for non-government subsidized enterprises.

    an unfortunate byproduct of the Tea Party movement

    unfortunate for him, I hope!

    Weiner doesn't know what a "market" is. The concept is alien to him.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • GoldbullyGoldbully Posts: 17,988 ✭✭✭✭✭
    In May 2010, liberal New York Representative Anthony Weiner accused Goldline of "shady practices". He asserted that the company overcharges with average markups of 90%, provides advice meant to mislead buyers, and uses overly aggressive sales pressue. He also criticized what he characterized as an "unholy alliance" with conservative commentators such as Glenn Beck, Fred Thompson, Mark Levin and Mike Huckabee who Weiner said push gold as an investment. Weiner said he will introduce legislation that will require precious metal retailers to disclose their fees, the price of gold and its melt value along with telling the buyer how and when they may see a profit.

    However, the Better Business Bureau gives Goldline an A+ rating and have received few complaints. Mark Albarian, the president of Goldline, disputed Weiner's 90% markup figure saying that their markup was 5% for bullion coins and up to 54% for rare coins. He went on to say that its sales force is not trained to give investment advice and that it likes to sponsor commentators who like gold. Albarian claims that Weiners attacks are politically motivated because of their relationships with conservatives and pointed out they have advertised on CNN and had been endorsed by a Democrat in the past. But talk show host` Michael Smerconish claimed that Goldline stopped advertising on his show because he was not conservative enough.

    Glenn Beck attacked Weiner for using McCarthy-like attacks saying he was assailing Goldine at the request of the Barack Obama administration. Mark Levin called Weiner “a grandstanding leftist".


    Wikipedia
  • fishcookerfishcooker Posts: 3,446 ✭✭
    Interesting.

    I may have to buy an eagle today, just to tell weiner what a whiner he is.
  • Goldline probably makes a good deal of profit from gold storage. I heard, so therefore I'm unsure, that while they do ship physical metal, they do a hard sell on storing it for you.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Anyone here know their mark-up on a typical 1 oz piece of gold? >>



    Gecko, I listened to GB this morning, he was reading the entire AZ Law. Somewhere in the middle he mentioned the " wiener " thing again. GB buys "old classic" gold and the round trip is 36%....18% commission to buy and then again to sell. He says he would buy regular eagles but fears the FDR rath. He clearly doesn't know our numis-language but he knows his history. Owning gold post FDR confiscation was a sentence of 10 years and $10,000. Interestingly, he mentioned the 1933 $20.


    ed4sp
  • storm888storm888 Posts: 11,701 ✭✭✭




    FEC Cases Filed: Friends Of Weiner

    MUR 4995 resulted in a $47,000.00 fine against respondent because of financial misconduct.

    MUR 5429 involved an illegal $28,000.00 loan that respondent's parents made to one of his
    committees. Resolution unknown.


    .................................

    Retailers can sell their merch for whatever price they can get.

    Consumers can shop around at THOUSANDS of places.

    I really don't need a lying parasite telling me how much I can
    charge/pay for anything.

    Immediately after the "press CONference," the lying parasite
    attended a "meeting" at 1600 Penn Ave.

    His recently hired "press assistant" is a Soros hag that came
    from Media Matters.

    Both GS and Soros are widely expected to SHORT metals in
    a massive way, as soon as the bubble inflates sufficiently.

    The Feds need to investigate this blatant attempt to manipulate
    both commerce and commodity prices.

    ..............
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • CaptHenwayCaptHenway Posts: 32,813 ✭✭✭✭✭
    My only issue with Goldline, and it is a comment rather than a complaint, is that if an item melts at $100 and their buy is $120 and their sell is $150, they say that their markup, at $150, is $30 or 30%.

    I say that their "markup" is $50, or 50%. Their "spread" is $30, or 30%.

    Other may agree with their semantics.

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • jmski52jmski52 Posts: 23,283 ✭✭✭✭✭
    I say that their "markup" is $50, or 50%. Their "spread" is $30, or 30%.

    Other may agree with their semantics.


    My understanding of accounting is that the term "markup" only relates to the percentage over cost for a retail item. Coins are a special case where the item itself has a melt value and premiums develop above & beyond the melt. I agree that their spread is 30%, but their markup is 30% over cost. If premiums fell by 20% on both the buy and sell, their markup would still be 30%.

    Both GS and Soros are widely expected to SHORT metals in
    a massive way, as soon as the bubble inflates sufficiently.


    Storm, I'm sure glad that our Treasury Secretary is on top of these things. I wonder how Geithner's buddies in China will feel about GS shorting gold?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Weiner should be vigorously investigated.
  • storm888storm888 Posts: 11,701 ✭✭✭


    Some allegations of the parasite:


    "Beck will often promote the purchase of gold as the only safe investment alternative for consumers who want to safeguard their livelihoods."

    "The message that these commentators push is that government is out of control and unsafe, inflation will continue to devalue the dollar and that as an investor you should protect yourself by stock piling gold coins."

    "There is always someone ready to take advantage of the situation and profit from people’s fears."

    "Commentators like Beck who are shilling for Goldline are either the worst financial advisors around or knowingly lying to their loyal viewers."

    "Goldline’s high pressure sales tactics and fear mongering about big government as well as their ability to hire sales staff and spokespeople who misrepresent their roles are case studies in why entities like the SEC and FTC are necessary."

    “Goldline rips off consumers, uses misleading and possibly illegal sales tactics, and deliberately manipulates public fears of an impending government takeover – this is a trifecta of terrible business practices. It’s unacceptable that this company is preying on public fears to sell its products.”


    ..............................



    Some actions of the parasite:

    He directed $238,000 of the 2010 Federal Budget to a Brooklyn nonprofit whose backers are his major contributors.

    Four board officers - and their families and close associates - of the SAFE Foundation have paid more than $160,000
    to his committees; including more than $100,000 to his flopped 2009 NYC effort.


    .............





    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • TrustNo1TrustNo1 Posts: 1,359


    << <i>"Did Weiner go after Liberal Montel Williams for selling cheap coins for 10x their value because Obama was on them????? Of course not. "


    Post of the day!!!imageimageimage >>

    bowing...
  • Bill O'Reilly had Beck on Friday evenings show, and Beck was sitting their talking about Weiner while eating
    a weiner(hot dog). It was rather humurous.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    A year ago on the GBP, Beck urged his viewers to be careful being lumped in with him. He went so far as saying don't tell people you don't know that you watch the program for fear of demonization. He was predicting an onslaught. I think we are seeing that now. It's much like the AZ bill when "people" criticize it yet have not read it. (Beck read the entire bill on his radio show last week.) The same goes with the GBP. I seen much critizcism of the show and followers are called extremists. I can tell the attackers have never seen the show. It's one of the best programs on TV, imho.

    Now as far as Goldline, caveat emptor. Loosely translated as "you've been screwed." image Why not go after all the other late night commercials peddling outrageous marked up goods? Naw, it's the agenda, stupid. Investigate Wiener. I like watching him squirm.
  • storm888storm888 Posts: 11,701 ✭✭✭

    The New York Times:

    “The Better Business Bureau, which has given Goldline an A+ rating, said Tuesday that it was standing by that. A representative of the bureau said it had recently re-reviewed Goldline in response to Mr. Weiner’s accusations and saw no reason for a change. “It’s a company with not that many complaints,” said Gary Almond, from the bureau. When compared with other companies that sell gold, “there was a remarkable difference in how each one addressed complaints,” noting that some of those other companies had F ratings.”


    Rip-Off Reports:

    “Consumers can feel confident and secure when doing business with Goldline International.”


    (The parasite previously cited ROR as "proof" of his allegations.)


    ......................................................


    Some novice buyers like to have their hands held while
    they learn what they are doing.

    Goldline is a good hand holder; their higher fees are worth
    the price, to many folks.


    ...................

    The anti-metals crowd has an "unholy" agenda. They are
    obviously VERY worried about something, and they will
    use "any means necessary" to silence their opposition.


    RULE 5: “Ridicule is man’s most potent weapon.” There is no defense. It’s irrational. It’s infuriating. It also works as a key pressure point to force the enemy into concessions.

    RULE 12: "Pick the target, freeze it, personalize it, and polarize it.” Cut off the support network and isolate the target from sympathy. Go after people and not institutions; people hurt faster than institutions.




    Meanwhile, in the case of GB and Goldline, the targets
    will just continue to scream:


    "Please Don't Throw Me In The Briar Patch!"


    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • GoldbullyGoldbully Posts: 17,988 ✭✭✭✭✭


    << <i>Bill O'Reilly had Beck on Friday evenings show, and Beck was sitting their talking about Weiner while eating
    a weiner(hot dog). It was rather humurous. >>



    image

    image

    Great posts Storm and Ren!!! image
  • johnny9434johnny9434 Posts: 29,326 ✭✭✭✭✭
    its a good idea to have some gold to sit on. the way the government botching things up its a safe bet.


  • << <i>its a good idea to have some gold to sit on. the way the government botching things up its a safe bet. >>



    Even with gold's drop of over 50+ this week, this auction still ended for over 1,270/oz.

    http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=250633546080&ssPageName=STRK:MEWAX:IT
  • GoldbullyGoldbully Posts: 17,988 ✭✭✭✭✭
    image

    From National Review Online....may 21, 2010:

    Rep. Anthony Weiner (D., N.Y.) has uncovered a conspiracy between conservative talk-radio hosts and the gold companies that advertise on their shows. According to Weiner, the conservative talkers scare their listeners into believing that the government under Pres. Barack Obama is headed for insolvency, and that the U.S. dollar is headed for a period of intense instability. This makes the listeners want to invest in gold, which is what the advertisers are selling.

    Weiner is only about five months late to this party. Prompted by Ken Vogel's reporting in Politico, MSNBC ranter Keith Olbermann and Comedy Central's Stephen Colbert have been on the case since last December, respectively ranting and making (admittedly funny) jokes about the symbiotic relationship between conservative talk radio and retail gold companies such as Goldline International.

    But the involvement of a member of Congress adds a disturbing element to the plot. Weiner has issued a formal report condemning Goldline, called on federal agencies to investigate the company, and explicitly accused Beck and others of impropriety in their relationships with Goldline, insinuating — never proving, of course — that Beck's criticism of the administration is at least partially motivated by a desire to scare up business for an advertiser.

    "Conservative Pundits Profit on People's Fear" is the title of one section of Weiner's report. After listing a number of conservative commentators who are sponsored by Goldline, the report concludes: "The message that these commentators push is that government is out of control and unsafe, inflation will continue to devalue the dollar and that as an investor you should protect yourself by stock piling gold coins."

    For example, one of these right-wing commentators recently said:

    When I watch Chairman Bernanke, Secretary Geithner, and Mr. Summers on TV, read speeches written by the Fed governors, observe the "stimulus" black hole, and think about our short-termism and lack of fiscal discipline and political will, my instinct is to want to short the dollar. But then I look at the other major currencies. The Euro, the Yen, and the British Pound might be worse. So, I conclude that picking one [of] these currencies is like choosing my favorite dental procedure. And I decide holding gold is better than holding cash, especially now, where both earn no yield.
    Except that wasn't a right-wing commentator. It was famed investor and self-described liberal David Einhorn, speaking at the Value Investing Congress last fall (average registration rate: around $3,000). It turns out that while conservative talkers such as Beck are speaking loudly and angrily (and advertisers like Goldline are offering their listeners small, retail forms of protection), Democratic donors are silently making huge bets predicated on their being right.

    Granddaddy Dem donor George Soros recently doubled the size of his gold holdings, which now represent 7.5 percent of his $8.8 billion fund. Former Goldmanite Eric Mindich, head of the hedge fund Eton Park, has invested over 4 percent of his fund in gold. Mindich doled out around $94,000 in political contributions in 2008, all to Democrats. John Paulson, the investor who became famous for shorting the housing market and, more recently, for being named in the SEC's lawsuit against Goldman Sachs, started a separate fund devoted just to gold investments. Paulson is another major donor to Democrats.

    A Weiner spokesman tells National Review Online that the congressman has never said that investors shouldn't use gold as a hedge against inflation or instability. His problem is with Goldline International and other retail gold companies that sell gold coins at significant mark-ups over the coins' "melt value."

    The companies respond to this charge by arguing that the gold content of the coins is only part of their overall value. In the 1930s, Franklin Roosevelt issued an executive order making it illegal for Americans to own more than $100 worth of gold, with the exception of gold coins "having a recognized special value to collectors of rare and unusual coin." Gold retailers such as Goldline argue that part of what makes their coins valuable is that, in the event that this administration or a future one adopted a similar measure, the owners of these coins could argue that they are collectibles.

    Weiner does not offer a satisfactory rebuttal. The report states that Roosevelt's executive order "did not define special value or collector value," implying (I guess) that Goldline's coins might or might not meet that definition. But on the very same page, Weiner argues that Goldline's coins are not a good investment because the IRS taxes them at the 28 percent rate that applies to collectibles, rather than the 15 percent rate that applies to stocks, bonds, and real estate. So Goldline's coins are not worth the mark-up, because the government probably wouldn't consider them collectibles. And they're also a bad investment — because the government taxes them as collectibles.

    This is not to say that I personally think Goldline's coins are a great investment. I own gold the way Soros and Paulson do, through the SPDR Gold Trust. (What's the saying — vote Right, live Left?) But this isn't exactly a risk-free proposition, either. Put aside for the moment the obvious, which is that all these conservative commentators and all these liberal hedge-fund guys could be 100 percent wrong (hey, it's happened before): Hard-core gold lovers love to denigrate what they call "paper gold," the idea being that, in a crisis, an exchange-traded fund would be more vulnerable to chaos and instability than personally owned physical gold. Also, some people just like to collect gold coins for their own reasons.

    One way to look at this is as a typical liberal nanny-state intervention. Busybody Democrat with too much free time wants to tell you what to buy — news at eleven. But there is a darker possibility here, one foreshadowed by government bans on short-selling and denunciations of those seeking insurance policies against widespread sovereign defaults as greedy "wolf packs" bent on destroying the global economy. Weiner's report is a tinny echo of these broader crackdowns, an attempt to delegitimize dissent by painting it as something motivated by profits instead of patriotism. Glenn Beck and others are trying to sound, for the nation's small-dollar savers (what few we have left), the same alarm bell that the nation's large-dollar money managers have evidently heard loud and clear. That's not against the law — yet.


    NPR/NR Online
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Those in power that don't understand gold, or understand it but want to keep the sheeple in pure fiat, will do whatever they can do undermine the efforts of those who do understand gold and are trying to inform the general population of their choices.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • GoldbullyGoldbully Posts: 17,988 ✭✭✭✭✭
    Glenn Beck got it wrong. Coin Industry BBB Ratings Not Full of “F’s”

    By CoinLink on Tuesday, May 25, 2010

    By now most people, at least in the rare coin and bullion industry, have heard or seen the Anthony Weiner - Glenn Beck - Goldline controversy play out in the print media and on Fox’s Bill O’Reilly Show.
    Putting aside the political theater, I was struck by something Glenn Beck said in an exchange with Mr. O’Reilly’s on his May 21st show…….

    BECK: “Goldline, yes. It’s a company I represent.”

    O’REILLY: “That’s a good company, I think.”

    BECK: “A+ credit rating from the Better Business Bureau. In fact, The New York Times was called on it, and they said after they saw Anthony Weiner’s report they decided to go back and look at it, and they rechecked it again. This, according to The New York Times, they have an A+ rating. They’ve retained their A+ rating in an industry that is full of F’s”

    Really? The coin industry is full of “F rated” companies?

    Now, I was always told that my mother drowned all of her stupid children, and having been involved in the rare coin industry for the past 20+ years, I would never suggest that there are not some bad apples in the barrel. But Beck made it sound like Goldline was an island sanctuary in a sea full of sharks. Having a distaste for hyperbole masquerading as fact, I decided to do our own research of the Better Business Bureau ratings.

    Running a Search on Google for “Gold Bullion” and “Gold Coins” we pulled up the ratings for the top search results, and below are the top 20 companies and their BBB ratings:

    Blanchard & Co. A+
    Gainesville Coins A+
    Golden Eagle A+
    GoldLine International A+
    Apmex A+
    CMI Gold & Silver A+
    American Gold Exchange A+
    USGoldCoins.com A+
    Swiss America Trading A+
    USA Gold Coins A+
    GovMint A+
    Austin Rare Coins A+
    Merit Financial A+
    Monaco Rare Coins A
    Silvertowne A
    California Numismatic Investments A
    Kitco A-
    Auruma Advisors B+
    Bullion Direct C-
    Monex F

    Funny, that doesn’t look like an industry full of “F’s”. Just one in 20 of the top gold bullion website search results yielded an F Grade, then a lone C-, B+ and A- and the rest A’s or A+’s. Hardly a snake pit of sleazy scheisters and thieves.
    Now to be fair, a BBB rating is not a ironclad guaranty that the company is either good or bad. Often times a low rating is the result of a single complaint that was not responded to, a situation that can make an A rating nosedive to a C in the blink of an eye. The BBB has always been more concerned with responsiveness to complaints than their validity, but nonetheless it is one measure of the company’s reputation and standing.

    In addition, the sites reviewed are just a small sample of all the firms selling Gold and Silver bullion coins and numismatic items, but based on the generic search terms used and the positions of these companies within the search results, these are representative of the website selections an average user would encounter first.

    In reality, the Rare Coin and Bullion business is populated with hard working and honest professionals that overwhelmingly treat their customers with respect and offer a valuable product at a reasonable and fair markup over cost.

    As this “drama” unfolds, I suspect that all of the parties involved will be tarnished in one way or another, but at least let’s get the facts straight. Mr. Beck’s comments, in defense of his sponsor, were just plain wrong and a mis-characterization of the industry as a whole.

    Coinlink link

    I don't agree that GB's character will be tarnished from this development.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    my experience has been they sell you once on a good deal, like $5 AGE for $95 each limit ten (back then not now) then try to steer you to way overpriced slabbed stuff after.
  • GoldbullyGoldbully Posts: 17,988 ✭✭✭✭✭
    Couldn't help but to revive this old Weiner thread.
    Guess the Goldline debacle is the least of this guy's worries!!! image
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭


    << <i>Couldn't help but to revive this old Weiner thread.
    Guess the Goldline debacle is the least of this guy's worries!!! image >>



    Weiner back in the news again....potentially on the heels of the IMF president.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    You should never never evah Tweet a picture of your Weiner. Bad form. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • TWQGTWQG Posts: 3,145 ✭✭
    The penalties will be stiffimage
  • PerryHallPerryHall Posts: 46,897 ✭✭✭✭✭


    << <i>You should never never evah Tweet a picture of your Weiner. Bad form. MJ >>

    image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • pitbosspitboss Posts: 8,643 ✭✭✭

    Is weiner making all these comments in his underware?
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    I'm sure his bride of one year, Mrs. Huma Weiner, finds this a wee bit embarrassing.

    image
  • pitbosspitboss Posts: 8,643 ✭✭✭
    She must know what his wiener looks like , why doesn't the media ask her if that is a picture of him or not.
  • ksammutksammut Posts: 1,076 ✭✭✭
    Arrogant guys like him think they can get away with anything. I hope his wife gives him hell.
    American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page

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    ANA Life Member & Volunteer District Representative

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    Doing my best to introduce Young Numismatists and Young Adults into the hobby.

  • I heard he sent the picture to Beck!
    UCSB Electrical Engineering....... USCG and NASA
  • pf70collectorpf70collector Posts: 6,754 ✭✭✭
    Is this all the media has to focus on. So sad, but I guess is good for the advertisers.
    Fox News.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>I'm sure his bride of one year, Mrs. Huma Weiner, finds this a wee bit embarrassing.

    image >>




    Humaimage
    Avid collector of GSA's.
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>Arrogant guys like him think they can get away with anything. I hope his wife gives him hell. >>



    I hope his wife has a sharp knife so she can produce the evidence !
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    << <i>I'm sure his bride of one year, Mrs. Huma Weiner, finds this a wee bit embarrassing.

    image >>




    Huma Huma Huma image
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Maybe Lorena Bobbitt can recommend a good set of cutlery to Huma Weiner?


    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • goldengolden Posts: 9,999 ✭✭✭✭✭
    It could not have happened to a more deserving guy.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    He does not have a clue about what is right or wrong about anything !
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