Aurum Advisors President Marc Lubaszka said, “Scam artists are widespread today.” Industry experts agree that many smaller local coin dealers offer to buy coins back from household investors at a greatly reduced price especially if the consumer purchased the coins initially from a larger coin dealer. “Larger firms have the capital to buy gold back from the consumers that purchased metals from them initially, usually at a greater price than smaller dealers. A problem can arise when consumers don’t understand the fee structure that the firm they are buying from charges and by not understanding what competitors charge to liquidate gold positions.”
Often, Aurum Advisors receives calls or complaints from customers that bought gold from a competitor and the competitor doesn’t have a buy back policy in place. In other instances a customer may buy gold from Aurum Advisors not realizing it would offer the customer a lot more than other firms would upon liquidation because the customers only pay a one-time initial fee when they buy, not when they sell precious metal back.
It has been a common complaint in the gold industry that investors that acquire a product, whether it’s gold, silver, platinum or palladium, are being taken for a ride. “You should always do your homework before you buy,” says Lubaszka. “Most of our clients have access to the internet so they have time to research and make informed decisions.” It is a responsibility for internet users to know the facts before they purchase. “All of our customers have ample time to shop around, talk to different firms, educate themselves and act responsibly before making a purchase with our firm.” Aurum Advisors is diligent in handling any issues that customers bring to their attention. Gold companies that are growing, from time to time, come across investors that attempt to take advantage of larger gold dealers. As an example an Aurum Advisors customer bought gold outside of their retirement account, and later sold the gold back to Aurum at a profit.
Every consumer should take the time to research the company they are doing business with. If you are interested in buying bullion or coins, Aurum Advisors has some of the most competitive prices. They provide consumers with gold coins that are well within industry standards. “We would rather make less money and have returning customers that are satisfied, rather than unhappy customers,” said Lubaszka. “Customers that buy gold or silver from Aurum Advisors should always give us the first opportunity to buy their metal back from them even though they are not required to. This gives us a chance to protect the consumers from unscrupulous ‘local’ coin dealers.”