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V11 2008 INDEX
E-SYLUM ARCHIVE
ARTICLE: BEWARE THE DARK SIDE OF COIN COLLECTING
An E-Sylum reader writes:Here's your generic "be cautious about coin dealers"
article from the general media. The premise is, with times oh-so tough,
people are trying to make money with coins.
Stocks are down, savings
accounts are paying piddling interest and houses are losing value. In
times like these, where can you make money? Many Houstonians have turned
to an unlikely source: coin collecting. But when it comes to buying and selling coins, all that glitters may not always be a good deal. In fact, one Houston attorney said sometimes, it can be downright fraudulent.
But with other investments, like stocks, doing so badly, telemarketers are peddling gold coins as a great alternative.
The Texas Attorney General said those high-pressure salespeople are targeting senior citizens. Gibson has sued dealers in both Beaumont and Austin.
.The problem is not that these coins are fake,. Gibson said. .The problem comes at the price these coins are being sold..
And if you get a call from a coin telemarketer, hang up.
In tough times, selling old coins can be a new source of income, but buying them as investments should be calculated with caution.
To read the complete article, see: Buyer beware: The dark side of coin collecting (http://www.txcn.com/sharedcontent/dws/txcn/
houston/stories/khou080909_tnt_coin_collecting_investments.5cfa03c2.html)
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.
To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com
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