If you own or are considering buying gold, you should set aside a few minutes for this.
One of the nation’s most prominent gold industry insiders recently went on record in a detailed, precise, and forthright interview.
He knows what he’s talking about too.
His firm has sold nearly $6 billion worth of gold over the past few decades and has a stellar reputation.
I’ve done business with them and was more than satisfied.
Long story short, he’s someone worth listening too.
Gold Seller Goes On Record
Let me introduce you to Andrew Schectman.
He’s the owner and founder of Miles Franklin, a precious metals bullion dealer.
He’s been around a long time, has seen pretty much everything, and, as you’ll hear in this interview video, seems like a real straight shooter.
Take a few minutes and check out YouTube for the full interview.
It’s some pretty revealing stuff, right?
There are some real horror stories out there.
I mean, just imagine having to send your gold back to the dealer for 10 cents on the dollar just because they went bankrupt.
But it happens more than you think.
And that’s just one of the risks you face as an investor in gold.
There are many, many more.
A few weeks ago we went over some of the unforeseen perils of owning gold in Two Rules For New Gold Buyers.
We identified two big risks.
One of the risks was theft.
We wrote at the time:
Gold is perfect target for any thief.
Thieves break into houses and steal everything of value. From TV’s to smartphones. They’ll all go.
Stuff like that is worth hundreds of dollars.
Gold is worth thousands. Potentially tens of thousands or more depending on how much you own.
It’s also easy to transport, sell for cash, and is largely untraceable.
That’s why you want to store it as securely as you can, don’t let people know you have it, and insure it as best you can in case the worst happens.
The other major risk to new gold investors was getting sold the wrong type of gold investment.
Over the years a number of gold bullion dealers have been shut down for everything from selling overpriced coins to running what some might describe as Ponzi Schemes.
In the end, you can be entering a real “Wild West” type of world when buying gold.
However, there are plenty of companies focused on being in the business over the long-term that will help you out.