BAD DEALS
You must be especially careful in the coin and bullion business where 90% of the dealers fail every decade. It’s particularly dangerous when dealers have made some money. They often speculate or go heavily on margin. Bad business practices and poor management can lead to failure. Troubles with the I.R.S are another problem. For example, one of California’s largest dealers has a $375 million tax lien against them. You never know when the I.R.S. will pounce and grab the customer’s money. Over the years I’ve heard from hundreds of people who didn’t get their gold and silver. They asked for my help, but in most cases the dealer who stiffed them had no assets left. It’s going to happen again. A lot of people are not going to get the coins or bars they ordered. Their money will be gone.
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