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...
5. 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.
6. 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.
7. 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.
8. 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.
9. 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!
10. 2
Rare Coins are
“Not Reportable”"
for Capital Gains
Tax Purposes
11. 2
Rare Coins are
“Not Reportable”"
for Capital Gains
Tax Purposes
14. 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.
15. 3
Rare Coins Offer
More Reliable
Price Appreciation
Potential
16. 3
Rare Coins Offer
More Reliable
Price Appreciation
Potential