Monday, July 19, 2010

Glenn Beck's Advertiser Under Investigation

ABC News reports:

Authorities in Los Angeles and Santa Monica have opened an investigation into Goldline International, a company that weaves its sales pitches into broadcasts by popular conservative political personalities, including Fox host Glenn Beck and two former presidential candidates, to sell hundreds of millions of dollars in gold. Beck's face is prominently featured on the website and in a video for Goldline products. Disgruntled customers told ABC News they wound up owning gold coins that were worth far less than their original purchase price....Goldline's web site also includes endorsements from Mike Huckabee, Mark Levin, Laura Ingraham and Fred Thompson

See ABC's slideshow here.

It appears that Goldline has done a bit of bait and switch with the coins that they pushed callers to buyu. They switched them from regular bullion coins to numismatic coins that have higher mark-ups and less liquidity.But compared to the scam that social security is, you would take putting your money with Goldline over the Social Security Administration any day.

Goldline hits you once, from there you have the coins in your possession. If inflation heats up, you will eventually do okay. With the SSA, they keep on taking, you have no idea what amount of money you will get from the SSA or when, for sure, it will start.


  1. Gullible buyers. As a relatively recent buyer of gold (past 2 years)it was readily apparent to me that one has to be careful to avoid numismatic collectibles when starting out. An hour of google searches would have made this abundantly clear. For the record I buy from AMPEX or very well established sellers on Ebay with 100% long term feedback.

  2. Thanks FDR.
    This pre 1933 gold coin stuff goes on because of you.