Business policies Goldline International

1 business policies

1.1 sales
1.2 buy-back
1.3 prices
1.4 government , private gold
1.5 collectible coins versus bullion

business policies
sales

the company sells on phone, via internet, , in person customers responding advertisement. calls past customers when new collectibles arrive not cold call prospective clients. purchases made check, credit card, cash, or wire transfer.

buy-back

the law not allow precious metal dealers, such goldline, guarantee buy-back. customer pay 1% liquidation fee on bid price of coin (the price goldline willing buy coin before discounting fee). example, if goldline sells coin $1,500 , bid price $1,200, seller receive $1,188 ($1,200 - $12). goldline consider purchasing coins sold other companies offer less equivalent coins sell originally.

prices

price of 1 troy ounce (31 g) of gold since 1960 in nominal us-dollars , inflation adjusted consumer price index cpi-u.

albarian told new york times prices range low 5% bullion coins , high 54% unusual , historical coins. while giving goldline a+ rating according new york times, , declared standing company company not many complaints , there remarkable difference in how each 1 addressed complaints when came bbb complaints, still wrote guaranteed profits illusion in conjunction advertising campaigns.

new york representative anthony weiner accused goldline of overcharging average markups of 90% 152%. dylan ratigan, television financial commentator, stated agreed goldline involved in manipulating public. goldline offers price guarantee program : if price of selected coins (not bullion) declines within 2 weeks, buyer may request difference used purchase coins of same type (not refund) long done within allowable period of 14 days.

government , private gold

executive order 6102

in sales literature, goldline has drawn distinction between calls government gold , private gold. during great depression, in order stabilize dollar backed gold , avoid run on banks, u.s. president franklin d. roosevelt issued 1933 executive order requiring citizens surrender gold reimbursed @ price set government itself. goldline stated private gold (defined coins explicitly exempted 1933 order because of collector value) less recalled in future if government followed precedent set roosevelt, thereby possibly increasing desirability of collector-grade coins.

the roosevelt order resulted in 1 failed prosecution, , dollar no longer backed gold thereby putting question why government again ask surrender. rep. weiner has expressed doubt of likelihood of future recall , american numismatic association said non issue . santa monica , l.a. county investigators alleged distinction used spur sale of more-profitable collectible coins.

goldline includes replica of 1933 order in sales material. when asked george stephanopoulos on abc s morning america, scott carter, executive vice president of goldline, said didn t know if government again confiscate bullion saw parallel between 2010 , 1933.

collectible coins versus bullion

american gold eagle

because of collectible coins higher markups , mention of past government confiscation of bullion in goldline sales literature, weiner accused company of recommending rare collectible coins on less-profitable bullion. customers prefer collectibles because recognizable, government-issued coins, , may less expensive.