Gold Coin Dealer Lear Capital Accused of Preying on Elderly - Survivalist Forum
Survivalist Forum

Advertise Here

Go Back   Survivalist Forum > >
Articles Classifieds Donations Gallery Groups Links Store Survival Files


Notices

Financial Forum Economics and Precious Metals

Advertise Here
Reply
 
Thread Tools Display Modes
Old 06-04-2019, 10:25 PM
rriley rriley is offline
Hunter
 
Join Date: Jul 2013
Posts: 1,836
Thanks: 0
Thanked 2,240 Times in 1,104 Posts
Default Gold Coin Dealer Lear Capital Accused of Preying on Elderly



Advertise Here

Los Angeles-based Lear Capital has done more than $3 billion in sales over 20 years, according to its website. The city alleges the companyís sales strategy is to conduct transactions over the phone in which customers are given misleading information about the size of the fee they are being charged and to steer customers toward buying coins, which generate higher fees than bullion, by falsely saying that thereís a risk the government may "confiscate" bullion.


https://www.bloomberg.com/news/artic...rnd=markets-vp
Quick reply to this message
Old 06-04-2019, 11:00 PM
Central Scrutinizer's Avatar
Central Scrutinizer Central Scrutinizer is online now
Wer sind da Gehirnpolizei
 
Join Date: Jul 2016
Posts: 2,352
Thanks: 2,211
Thanked 2,219 Times in 1,195 Posts
Default

The elderly are pretty suscepitable to this. I had to explain to my 93 yo mom who lived through the depression why buying gold was not a good idea for her.

I think the best way to acquire gold or silver is to buy a metal detector and go to the beach. At worst you have a hobby, get some sun and excercise.

If you buy Gold or Silver in bullion or coin, you have to have a way to store it securely so that nobody breaks in and steals it. Bank safety deposit boxes are turning out not that secure, and if you are elderly, not convenient for access nor safe for heirs. The you have to sell that gold to pay for expenses. Her retirement home wants USC not metal.

If you buy a gold fund or stock, how do you know there is any gold backing it up. It is paper just like any other form of investment. That Gold fund that sounded so good on that talk radio show turns out to be oversubscribed, the fund manager not returning calls.

Sent from my SM-T350 using Tapatalk
Quick reply to this message
Old 06-05-2019, 01:26 PM
country_boy country_boy is offline
Hunter
 
Join Date: Feb 2014
Location: Alabama
Posts: 1,246
Thanks: 47
Thanked 1,031 Times in 589 Posts
Default

Sounds like 90% of the advertisers and telemarketers out there. But I wonder where the line to fraud is drawn- silver could rise to $100/oz and adjusted for inflation it wouldnít set a record. The canít confiscate mumasmatic gold is at least based on constitutional protection that makes it very dificult to confiscate numismatic coins.

Not saying itís not ethically wrong, but where do you draw the line?
Quick reply to this message
 
Old 06-05-2019, 03:43 PM
Central Scrutinizer's Avatar
Central Scrutinizer Central Scrutinizer is online now
Wer sind da Gehirnpolizei
 
Join Date: Jul 2016
Posts: 2,352
Thanks: 2,211
Thanked 2,219 Times in 1,195 Posts
Default

Quote:
Originally Posted by country_boy View Post
Sounds like 90% of the advertisers and telemarketers out there. But I wonder where the line to fraud is drawn- silver could rise to $100/oz and adjusted for inflation it wouldnít set a record. The canít confiscate mumasmatic gold is at least based on constitutional protection that makes it very dificult to confiscate numismatic coins.



Not saying itís not ethically wrong, but where do you draw the line?
The Hunt brothers drove that historic peak in silver in 1979. It hasn't been near that high since.

Elderly folks need cash, not speculative investments.

There are a lot of hucksters out there preying on anyone at retirement age. Be wary of the many newsletters published by Agora Financial. They make their money on pricey subscriptions.

Those one time "free" or bargain subscriptions that renew at $49.95, or $499.95 and even many thousand$ if you are particularly gullible and take their bait for a lifetime subscription. They provide little value to investors, you can get same stick info using Google and common sense,

Sent from my SM-T350 using Tapatalk
Quick reply to this message
Reply

Bookmarks



Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Survivalist Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:
Gender
Insurance
Please select your insurance company (Optional)

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 03:30 AM.


Powered by vBulletin®
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimisation provided by DragonByte SEO (Lite) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
Copyright © Kevin Felts 2006 - 2015,
Green theme by http://www.themesbydesign.net