Peter's Blog

How To Buy Into the Gold Fire-Sale Without Getting Ripped Off

Last month, gold made headlines as its price took a turn for the worse. At the beginning of April, gold sold at $1583 per ounce, but it caved to $1380 before finishing out the month at $1469. The forced sale of Cyprus’ gold reserves in the wake of the nation’s bankrputcy seems to have caused […]

Buying Gold and Silver Is Not Complicated

You’ve been reading the news and watching the economy. You know things are bad, and likely to get worse as central banks around the world continue to print money for irresponsible governments to squander. You know this means the purchasing power of the dollar is deteriorating, and that holding savings in dollar-denominated assets is probably […]

Don’t Take Any Wooden, er, Platinum Nickels

Last week, the entire nation avoided the biggest metals scam in history when the Treasury Department announced that it would not mint a trillion-dollar platinum coin to reduce the government’s debt. The platinum price has been rising, and is expected to perform better than gold this year, but there still isn’t enough of the stuff […]

Avoiding Bait-and-Switch Metals Dealers

Gold dealers have developed a reputation akin to the stereotypical car salesmen: fast-talkers with a tendency to mislead through omission. Vetting a prospective precious metals broker can be a tedious process. You might find yourself becoming chummy with a gold broker over the course of weeks or months, only to find yourself duped when you’re […]

When Accepting Free Gold Bars Can Cost You Money

Have you heard about the Nigerian prince who would like to send you his fortune for safekeeping if you’ll only give him enough money to execute the transfer? There are a lot of variations of this classic internet scam, and in all of them the victim ends up giving away lots of money only to […]

Are 1-Gram Gold Ingots Revolutionary or Over Priced Gold?

One of our readers recently asked about investing in gold through a new company they had come across on the Internet. The company sells 1-gram gold ingots (tiny bullion bars) encased in thin plastic, which are stamped with a serial number and hologram to prevent counterfeiting. They tout their product as a unique development that […]

“Natural Gold” Unhealthy for Your Portfolio

While not nearly as common as overpriced numismatics, every now and then the precious metals investor will come across the opportunity to purchase natural gold nuggets. While they may be appealing at first glance, these opportunities are just another distraction from the real purpose of investing in precious metals: as a long-term, liquid store of […]

Can Bacteria Produce Gold?

News from earlier this month is still circulating about a newly discovered bacterium that…how do we put this…“excretes” gold under the right conditions. That’s right—when forced into a toxic environment saturated with gold chloride, Cupriavidus metallidurans will essentially eat up the toxins of gold chloride and leave behind pure, 24K nuggets. Gold skeptics and scaremongers […]

When Your Shipping Costs as Much as the Round…

…ABORT MISSION! Just recently we, here at Gold Scams received a tip about a dealer called Discount Gold Brokers. I was immediately suspicious when I saw the cheesy look to the website and large bold text claiming it offered 0% above the dealer’s price. I’ve heard of discounts on premiums, but no premium at all? If […]

Spongebob Silver

Not only is this eye-catching because of the cubic sea creature featured on the round, but let’s look at the price here! Four – one ounce .999 pure silver rounds are being sold here for $259.00! As I check today’s silver spot price, I can tell you that this is not a good deal at […]