Tricks Of The Trade
We’ve already covered how the big scam used by crooked dealers/firms and some of the slight of hand tricks they use to persuade you to buy “collectibles” rather than IRS approved gold bullion coins that are IRS approved for you gold IRA. Next we want to show you how they will attempt to separate your from your hard-earned cash with other tricks of the trade.
Proof Sets
This proof set from 1980 contains the Susan B. Anthony dollar to commemerate the women’s suffrage campaigner; this was a very unpopular coin and the mint was stuck with 100s of millions of “Suzie Bucks” in their vaults. And you do not want to get stuck with any “Suzie Bucks” in your IRA.
The United States Mint creates proof sets for sale to the public. A proof set contains one coin for each denomination that is minted for circulation and is legal tender. These are all uncirculated coins. They use highly polished dies and have much sharper images, rims and designs. 1916 was the year that the U.S. halted the striking of proof sets. In 1936, the U.S. Mint began producing proof sets again -= cents through half dollar. Up until 1942, individual proof coins could be ordered from the U.S. Mint. From 1950, proof coins could only be ordered as complete sets. By 1955, the U.S. Mint sold sealed flat pack and individually packed set of coins. Thousands of these proof sets do not contain any precious metals. Lots of them are on sale on EBay. None of them, even the early ones that contained silver, are not approved by the IRS and are classified as “collectables”.
Gold is a Commodity
IRS approved bullion coins have the purest amount of gold possible and are minted with a design as a conspicuous indication that they are authentic. Gold is a good commodity to hold when the rest of the planet’s paper money system could go up in smoke at any time. Remember. The only people who should be purchasing numismatic gold are determined and deliberate collectors - it’s the aesthetic and histories value that intrigues them.
Commemerative Coins
Here is another group of coins that the crooked dealers will try to get you to buy rather than the IRS approved gold bullion coins. They will advertise that the coins came from gold and silver recovered from the vaults underneath “gourd zero”. These are the “9/11 Commerative Coin”. They are not pure gold or silver. Just clad with those precious metals. Inside they are just tungsten or steel. It cost a 9/11 coin scammer $750,000 for selling September 11 commemorative coins that were purported to contain silver. National Collector’s Mint was the bad boy here for failing to identify its coins as imitations and charged customers for coins they never ordered. Do not fall for these scammers as they attempt to play on your heart stings and out of sympathy for those who were murdered on 9/11 many purchase these phony coins. Do you really believe they can sell a pure gold coins for $19.95 plus exorbitant shipping and handling. These are just base metal coins with a thin coating of gold or silver. In fact, it is illegal to sell clad coins without telling the buyer that they are clad. To get around this, they will play the 9/11 sentimental card -”precious metal recovered from the vaults beneath the Twin Towers after September 11, 2011″.
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