Caveat Aurum Emptor: A Warning About Rare Gold Coins

As the volatility of the gold market increases ever greater numbers of investors are turning to
the relative stability of rare gold coins. Caveat emptor, buyer beware, is an age old principle that
has been bandied about for so long that its message often goes as unheeded as the little boy’s cry
of “Wolf!”

Caveat emptor is the watchword of a free market. It puts the onus on buyers to protect
themselves from predatory sellers. Government protection and warranties “express or implied”
have made us complacent, however, and the markets are anything but free today.

The rare gold coin market is a rare exception as it remains relatively free from government
intervention. That is one of the greatest strengths of gold coin investment, but it means that
investors must be aware of the pitfalls so they can protect themselves.

A new release by PCGS (the Professional Coin Grading Service) states that “over the past 30
days, 488 coins submitted to PCGS were of ‘Questionable Authenticity’ with another 7,000
coins determined to have a problem so severe that they could not be graded.” And those are coins
that had been sent to the real numismatic pros in hopes of getting their seal of approval.

It’s not hard to imagine how that extrapolates to the market as a whole. Devious peddlers of fake
and misrepresented gold coins are continually growing in number and sophistication, always
hard at work trying to beat the system. But in the absence of government meddling the gold coin
market is doing what markets are supposed to do: it is protecting itself.

Buyer beware doesn’t imply that we must be experts on everything we buy, a thoroughly
impossible task in modern times. It means only that we demand sellers and services that we can
rely on for safe and secure investing. Companies that meet the demand succeed and grow. The
others wither and die.

Nothing happens overnight in an evolving market and most sellers are dashing to catch up with
modern with forgers and shysters. But they have already fallen too far behind. Companies that
had the foresight to grow their business around the core principle of protecting buyers, however,
have been able to stay ahead of predators. They are few and far between, but that is precisely
why they are today’s market leaders.

Caveat aurum emptor. Gold buyer beware. Put your faith only with a seller that you can trust and
that never stands idle in its efforts to thwart the thieves. is proud to
be such a company, and as a result they have never let a single fraudulent rare gold coin fall into
their buyers’ hands.

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