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You see the ads for this kind thing on the cable channels in the wee small hours of the morning. Buy gold or silver as a hedge against bad economic times. But many of the companies touting gold or silver are really only making one entity rich: themselves.

Here’s what you need to watch out for:

  1. The Bait Frequently, these companies use deceptive marketing to make you think you’re getting gold or silver at only a slight mark-up over the current market value.
  2. The Switch Once you are actually speaking with a salesperson, they will try and switch to investing in “collectible coins.” You’re told that these are appreciating much faster than gold or silver.
  3. The Catch Often you will be sold coins at a markup so high, you will never recover what you’ve paid.

One of the oldest adages in investing is true here – invest in what you know. If you don’t know about collectible coins, don’t invest. Or seek out a local expert in your area and consult with them face-to-face.

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Gala Poochy
O'RyanCordes Marketing