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Thread: Gold seller (endorsed by Glenn Beck) charged with Fraud

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    Featured Member Vamp's Avatar
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    Default Gold seller (endorsed by Glenn Beck) charged with Fraud

    We have talked about this many times in Dollar Den.
    Just because an investment is endorsed by someone on TV does NOT make it worth while or in this case legal. Do alot of research before purchasing any investment.



    "Goldline, a company that used endorsements from Glenn Beck and other conservative icons to sell hundreds of millions of dollars worth of gold to consumers, has been charged with theft and fraud in a 19-count criminal complaint filed Tuesday by local officials in California.

    The criminal complaint filed Tuesday by the Santa Monica City Attorney's consumer protection unit marks the latest in a series of allegations it has leveled against the gold dealer, which pioneered the practice of weaving its sales pitches into broadcasts by popular conservative political personalities -- including two former presidential candidates -- to sell hundreds of millions of dollars worth of gold every year.

    The complaint alleges that Goldline "runs a bait and switch operation in which customers, seeking to invest in gold bullion, are switched to highly overpriced coins by using false and misleading claims," according to a statement released by the consumer affairs division of the Santa Monica City Attorney's office."


    http://abcnews.go.com/Blotter/goldli...3#.TrMUCnKO498
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    ^^^ I've never dealt with GoldLine so I can't comment on their 'sales practices'.

    However, personally speaking, I always buy and sell gold bars rather than gold coins. Indeed, price levels for almost all gold coins are set at higher levels than the value of the gold they contain ... adding the so called 'numismatic' value. This 'numismatic' value typically can't be recovered in any spot market sale.

    There are other subtle differences between gold bars and gold coins as well. One is the fact that gold coins can be considered to be 'collectibles' a la artwork, antiques etc. thus potentially subject to different tax treatment than gold bars ( which are considered a commodity ).

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Goldline has a terrible reputation among the commodities traders and sellers. The prices they cahrge their customers to buy gold coins are outrageous. As much as $300 an ounce over the market price for gold. Like Beck, a number of conservative talk show hosts like Monica Crowley and Mark Levin also did promos for Goldline. For which they should all be ashamed.

    Like Mel, I own some gold bars and I also own several gold coins which I keep in my safe deposit box. I also own stock in a gold mining company.
    Last edited by Eric Stoner; 11-07-2011 at 07:41 AM.

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    ^^^ as long as were doing 'full disclosure' I ONLY buy 1oz gold bars ( no coins ), I typically use to buy and sell them. I also own stock in several precious metals mining companies ( none of them US based ). I also have some silver bars and some silver coins ( which are not 'numismatic' coins, but 'commodity' coins sold by the bagful ).

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Sounds a little like my holdings ...... But I love the coins...... many numismatics have done incredably well...... The mining stocks are so volatile..... Stops don't work, and vacations can be costly..... CEF is a good core holding for sure.

    There will be a time to sell Gold & Silver..... That time hasn't arrived.




    I feel bad to read that people were taken advantage of by salespeople...... Many bad investments have been made by listening to salepeople....... Research and knowing what you want in any investment is always a good thing.
    The country has been looted.

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    I buy through Goldine and they are the most reputable company in the business.. this is just a case of liberals in California wanting to damage a company that endorses Glenn Beck..

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Quote Originally Posted by AmyLynne View Post
    I buy through Goldine and they are the most reputable company in the business.. this is just a case of liberals in California wanting to damage a company that endorses Glenn Beck..

    Your level if ignorance is mind numbing.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Quote Originally Posted by AmyLynne View Post
    this is just a case of liberals in California wanting to damage a company that endorses Glenn Beck..
    The only purpose of this thread from the start.

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Glenn has even talked about this on his show.. that mant of his sponsors were being targeted by leftwing groups as a way to silence him.. theyre doing the same to Rush and Hannity...

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    I am not going to get into the political crap. We have been asked to refrain from it so I am.

    The only purpose of this thread was stated when I posted it.

    But it will be interesting to see if these comments are removed like other political comments that were posted in this thread.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Quote Originally Posted by AmyLynne View Post
    I buy through Goldine and they are the most reputable company in the business.. this is just a case of liberals in California wanting to damage a company that endorses Glenn Beck..
    Amy, I am sorry but if you are buying through Goldline you are paying an enormous premium. Far above what other ways of buying gold cost.

    Glenn Beck is a horse's ass afaic and couldn't care less what Goldline does. Same for Mark Levin and Monica Crowley.

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Im good with that.. maybe you should go hang with the occupy scum...

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    That's a political comment. You do realize that many people would consider you scum because you are a stripper, right? I'm not saying you are a scum, just that scum is subjective. I remember now you were the one talking about how great Sarah Palin in.

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Come on folks ! We are ALL here to share info and try to help each other. We are ALL supposed to avoid politics to better serve that purpose.

    Yes, even though I am a FISCAL conservative I do not like Beck. Levin and Crowley are OK but afaic, both should know better and not endorse a site or company that gives its custies a lousy deal. My opinion is NOT unique. Many a "gold bug" on Kudlow and in the WSJ has bad-mouthed Goldline for charging an excessive premium for the gold coins it sells.

    The BEST way to invest in gold is to buy actual gold i.e. gold bars. Coins are second best but can be easier to obtain. What Goldline does is promote the "numismatic" value of the coins it sells and charges accordingly. The technical term for what they do is "BULLSHIT".

    Obviously, Beck, Crowley, Levin et.al. have Goldline as a sponsor for the money. They also "endorse" the company which I think is wrong of them.

    Afaik, Goldline has NOT broken any law or engaged in false advertising. Misleading and incomplete ? You betcha . Are they a reputable company ? Not afaic.

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    Default Re: Gold seller (endorsed by Glenn Beck) charged with Fraud

    Imo being a fiscal conservative is essential in many cases and I hope that's not a political statement. Anyway I have heard bad things about this company and not because of Beck. I couldn't care less about him.

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