The Great Gold and Silver Storage Heist
The Great Gold and Silver Storage Heist
There’s only one type of company that can consistently beat us in price. It’s the type of company that advertises Gold and Silver at 1% over dealer cost. You’ve probably seen the ads on radio and TV.
When you call one of these companies they send you out a Free Information package just like we do. You’ll get a call about a week later from a top flight commissioned sales person (they have the smoothest pitch in the Gold and Silver industry). They’ll start telling you about coins they have available like Philharmonics and Krugerands. You can almost feel the Gold in your hands.
Then the switch comes. They’ll start talking about how you can really make money if you set up a special account that has them storing the Gold or Silver for you in their vaults. You can even buy Gold and Silver on margin, so you can amplify your gains when markets go up. If you listen to the entire pitch (and I have) you might start thinking it isn’t such a bad idea.
There’s only one problem. This industry is littered with companies that have promised to store Gold for their customers, but in truth their vaults were empty. In Arizona we have a number of companies where key management personal have spent time in prison for taking customers money and not providing Gold that was supposedly in storage.
The problem is temptation. You send in your hard earned $25,000, they tell you the product is put aside for you in their vaults, but in fact, rather than buy the product for you, they take the money for themselves. Suddenly their 1% markup turns into a 100% markup. Since you don’t take delivery, how do you verify where the money went? It’s the delivery aspect that keeps everyone honest in the precious metals industry. Take that away and all hell breaks loose.
Now I’m not saying that all the companies that offer to store product run this type of hustle. Some of them probably do store the Gold for you. It’s not fair to paint with a broad brush. But in a country gone mad, do you really want to take that risk?
The only way to own Gold in this environment (America 2011) is with physical possession. You want your metals shipped to your door via Registered Insured US Mail or Registered Insured Fed Ex. You want it sent in a box that does not identify the word Gold or Silver. You want to personally sign for that package when it comes to your door. You want no surprises when you open the package. You want to deal with a company you can trust.
You also want to buy from Gold and Silver experts. People like yours truly, who live and breathe precious metals 7 days a week. I’m as likely to be working on Sunday afternoon as Tuesday afternoon. Thanksgiving is a great holiday, but after dinner I can’t think of anything I would rather do than work. Some of our competitors hire ex-realtors who were pushing real estate as the greatest thing on earth only a few years ago. Now they’ve discovered Gold and Silver. Glad they’ve been converted, but I doubt they know much.
Some of the companies even have a price guarantee. If certain product goes down in price over the next 14-28 days, they’ll refund the difference. The only problem is that their product is already carries up to an 80% markup over the true dealer cost. Even if the Gold market drops 10% and you can figure out how to take advantage of their partial rebate program, you still end up paying 70% markup. That means Gold has to double for you to break out even. No wonder they pay conservative icons huge sums of money to tell you to buy from them.
We get potential clients that call and ask for our commission structure. It’s a fair question, but one that doesn’t apply since we don’t hire sales people. Why add 15% to our cost structure when we talk to our customers ourselves? Meanwhile sales people in this industry are notorious job jumpers. If you order from me (Gary), you’ll be able to call me 5 years from now. My sons are 5 months and 6 years old. I think retirement is a long way off.
Most of our competitors have a dual profit structure. They tack on up to 15% for that commissioned sales person and another 35% profit on the product being sold. The fees can add up fast and then when it takes up to 5 weeks for delivery of product, it makes you think twice.
Scottsdale Gold and Silver/57gold.com doesn’t operate that way. We give personalized service. We give great deals as of the day you order. We ship product within 14 business days. We treat you with respect and we ask you to tell your friends. Some of our competitors could take lessons from us. Only problem is they would make less money, so they will probably skip our classes and take their new Rolls out for a spin.
57gold.com sample of our margins on selected product:
- Silver Bars 1%
- Gold Bars 1%
- Silver Bullion 3%
- Gold Bullion 3%
- Circulated Peace Silver Dollars 1% over spot
- Even the rarest coins seldom have a markup over 25%
It’s easy to get a great deal on Gold and Silver. Find a company that you can trust. Don’t deal with commission sales people (ask if they have ownership in the company). Come up with a dollar amount you can comfortably work with. Stay away from speculative Gold or Silver coins unless you really know what you are doing. Ask how long it will take for shipment. If it takes more than 14 days, that’s too long. After your order is shipped, ask for a tracking number. Reward the company that treats you right by spreading the word.
For more information, contact Gary Cubeta at 1-888-950-4653.
57Gold.com | 888.950.4653 | Scottsdale, AZ | gary@57Gold.com
The Great Gold and Silver Storage Heist