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Huge numbers of people are currently converting their 401k retirement accounts to a Gold based IRA'. This is because paper currency devalues overtime where Gold, as a rare precious metal, goes up in value over time, meaning individuals should see a much greater return on their investment in gold than in cash. However, investing in gold is fraught with risk due to the high volume of scammers out there taking advantage of this new trend. Gold 401k is a website advising individuals on how to get the best out of a precious metals 401k, and has published new material shedding light on the four most common gold scams.The editorial describes the ‘bait and switch’ technique in which individuals are first encouraged to invest in bullion before being tempted by ‘numismatics’- rare gold coins that carry a higher value than their weight in gold due to their rarity and artistry. This however simply means individuals pay more than the bullion value and most of that goes to the salesman in commission, draining individuals’ investment funds.
The editorial describes similar scams including proof set and commemorative coin scams, Ebay jewelry scams and fake gold bar scams in detail so that individuals understand both how they work, and how to avoid them when making investments.
A spokesperson for Gold 401k explained, “Gold scams are unfortunately an inevitable risk when individuals decide to invest in precious metals, and because Gold has been one of the most precious materials to humans since we first became societal animals, fraudsters have thousands of years of evolution on their side in creating traps and tricks to take advantage of people who want the relative security found by investing in the value of gold. Our new material aims to increase awareness among potential investors of these common scams to ensure they are not taken advantage of, and invest only with reliable suppliers.”
About Gold 401l:
Gold 401k is an informative resource center for investors interested in gold and precious metals in general. The website, managed by a veteran investment advisor, shows people how to own precious metals through a retirement vehicle such as a 401k, 403b, 457b or IRA. The site also offers and advice and guidance on the best investments and how to avoid common scams and investment traps.
Contact Info:
Name: Daniel Fisher
Email: Send Email
Organization: Gold 401k
Phone: 3477787478
Website: http://gold-401k.org/
Release ID: 26484