Insights

Surge in Gold Scams Reported

A local news station WTVF reported a Jewelry store in Clarksville Tennessee is seeing a surge in customers trying to trade in fake gold. Andrew Schmidt, the co-owner of Clarksville Jewelry, said that “People are being approached at gas stations, convenience stores, grocery stores, that kind of thing. Somebody walks up to them, says hey I’m down on my luck, I need some money to get home…If you look at the pieces, they are marked correctly. They have 18 karat stamps on there. To the untrained eye, you would think this is gold,” 

We bring it to your attention as an investor to never ever ever ever buy gold from someone on the street. If you are going to purchase gold do so from a reputable gold dealer. If something seems too good to be true, it almost always is.

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