Wednesday, June 2, 2010

Peter Schiff on Goldline and Its Aggressive Mark Ups

Below I link to information on a Barry Minkow report about the Glen Beck promoted gold coin dealer, Goldline. The report claims to rebut the charges made by Congressman Anthony Weiner against the dealer. Part of the allegation is that Goldline excessively marks up the price of its coins. Minkow picked a few coins from Goldline's inventory list and found no excessive pricing. The B.U. French 20 Franc 'Rooster' Gold coin was not among those checked.

Peter Schiff reports that his cousin attempted to buy American gold eagle coins from Goldline but was advised to buy the B.U. French 20 Franc 'Rooster' Gold coin.

Schiff reports that while the general mark up on the B.U. French 20 Franc 'Rooster' Gold coin is around 5%, Goldline marks the coin up by 67%. This isn't illegal but it is, ahem, aggressive pricing. Here's Schiff on Goldline:

1 comment:

  1. Schiff with a follow-up: