3 lies about rare coins
DESCRIPTION
We regularly take calls from Money Metals Exchange customers who have been bamboozled and taken for a ride by one of the many rare coin (or numismatic) dealers and their extortionately high prices. So what happened? And why do so many people continue to sink their serious money into the illiquid and usually underperforming rare-coin collector market? Well, the answers can be found by unmasking the deceptive arguments rare coin dealers use to trick their unsuspecting prey into paying WAY more than melt value for gold and silver. Here we examine the three most common deceptions used by peddlers of rare coins... - PowerPoint PPT PresentationTRANSCRIPT
3About “Rare” Coins
1 Rare Coins are “Confiscation
Proof”
1 Rare Coins are “Confiscation
Proof”
WHY?
Under two federal laws the U.S. government claims the power to seize any private asset whatsoever in times of national emergency or war.
WHY?
Under two federal laws the U.S. government claims the power to seize any private asset whatsoever in times of national emergency or war.
Nothing is automatically exempt.
WHY?
Under two federal laws the U.S. government claims the power to seize any private asset whatsoever in times of national emergency or war.
Nothing is automatically exempt.
There is no requirement that gold be held by the Treasury to back the money supply.
WHY?
Under two federal laws the U.S. government claims the power to seize any private asset whatsoever in times of national emergency or war.
Nothing is automatically exempt.
There is no requirement that gold be held by the Treasury to back the money supply.
The “need” to seize gold in order to inflate the currency no longer exists.
WHY?
To “protect” against the chance of confiscation, rare
coin buyers suffer IMMEDIATE CONFISCATION OF WEALTH by
failing to buy bullion coins, bars, and rounds in the first
place!
2Rare Coins are
“Not Reportable”for Capital Gains
Tax Purposes
2Rare Coins are
“Not Reportable”for Capital Gains
Tax Purposes
WHY?
Government reporting requirements are virtually identical for numismatics and bullion.
WHY?
Government reporting requirements are virtually identical for numismatics and bullion.
Rare coin salesmen “forget” to mention that any capital gain you enjoy in selling a rare coin is still something that you must report on your tax return – whether or not a 1099 was filed by your dealer.
WHY?
3 Rare Coins Offer More Reliable
Price AppreciationPotential
3 Rare Coins Offer More Reliable
Price AppreciationPotential
WHY?
The outrageous buy/sell spreads common with numismatics severely eat into the profit potential associated with owning the item.
WHY?
Almost all rare coin dealers have actual
bullion for sale.
They just want to steer you to their
high-premium numismatics, which
reward the high-pressure salesmen
with fat commissions.
For your serious investment
money, stick with the gains that come with gold and silver
bullion.
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