Gold is an investment like any other.
But the scam artist can fool investors into thinking they’re getting a good deal, while in reality they’re not getting anything at all.
It’s not uncommon for investors to fall for the scam.
Investors buy a security because it’s worth a certain amount.
But it turns out it’s nothing more than a Ponzi scheme.
So the scammer makes a quick buck and leaves the investors with nothing but bad publicity.
This is the most common type of scam, but the fraudsters aren’t necessarily the most cunning.
They can often trick investors into believing that the scam is more legit than it is.
This scam involves convincing a buyer to put down a certain percentage of their money for a certain investment.
The investor then pays the scam creator to make an investment with their money.
The scam artist will typically take the cash and convert it to a worthless coin called a “ticker”.
They’ll often also use a false title like “Buyers Payed” or “Liability” or whatever.
The buyer then receives a refund, often in a few months, with the proceeds going into the scamster’s pocket.
The gold price, and not the coin price, is the source of the scam and usually the biggest cause of investor losses.
Investors need to be wary of buying into a gold coin because they can be tricked into thinking the coin is worth a lot more than it really is.
So how do investors protect themselves?
First, be aware of the type of coin you’re buying.
Many gold coins are actually worth less than they actually are.
In addition, the scam will often make you think you’re getting something special when in fact it’s not.
So be sure to look for any “buyer pays” or similar claims on the coin you decide to buy.
Another way to protect yourself is to always be wary when you’re in the market for gold.
Be careful not to purchase any coins you don’t understand.
Always read the fine print on the coins.
If you’re not sure what you’re purchasing, call your local jeweler or exchange and ask them for a copy of the coin.
If it’s a gold bullion coin, be sure it’s of a high quality, with no flaws or dents.
A high-grade coin that has a large number of cracks and imperfections can also be a scam.
Investing in gold is risky, so be careful.
This article originally appeared on The Conversation.
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