GOLDLINE ~ scam or not?

I'm not a fan of stockpiling large amounts of real gold in my house or safety deposit box, I've never purchased from Goldline but have heard advertisements from this company on various radio & TV shows.

Anyone else becoming even more skeptical of Goldline?

Now I am a fan of gold, have it making up a reasonable portion of my portfolio, but I am not willing to buy at super premiums, in fact I try to only buy at dips (not always successful in that).

Here is 10 minutes of video that is pretty enlightening.

[ame="http://www.youtube.com/watch?v=WV1s6WC4nsc&"]YouTube- Peter Schiff: Glenn Beck Doesn't Know That GOLDLINE Is Ripping People Off![/ame]

Walks like a duck, sounds like a duck, looks like a duck. I feel sorry for anyone that believes in a product promoted by a Radio or TV personality. I really doubt that sleep number mattresses are all that great but all the Radio guys seem to have them.

I'm sure there is some marketing formula in play. You can buy gold at fair market prices from lots of little gold/previous metals shops found in most large cities.

PBinWA said:

You can buy gold at fair market prices from lots of little gold/previous metals shops found in most large cities.

Click to expand...

Yup. If you want to take physical possession of gold/silver its easy enough to walk into a coin shop and buy it.

Downside is you pay a premium in terms of 'sales tax' on any gold/silver you take into your possession. So buy a 1 ounce ingot of gold for $1200 and you pay $1200 + a small fee for the ingot + state sales tax. You could be paying a 10% premium just because you take possession.

Buy a gold or silver ETF, where you don't take possession and you may pay a $7 trading fee, and perhaps 0.5% ETF fee, but that is a whole lot cheaper than sales tax, etc. Granted you never have any physical possession of the gold/silver but if that is not an issue then it has serious advantages in terms of savings and the ability to trade it quickly.

No sales tax in Oregon.

Actually, I haven't bought any gold. I'm skeptical of the value of it in a SHTF scenario. I stock other precious metals, tools, and things that I think will be more expensive in the future.

It's a scam. The price of gold is updated daily.
There is the BUY price and SELL price. If you walk into a gold dealer and have an ounce of gold you will be paid what the daily published price is.
However if you are buying... you will pay more.
It's a handling fee that the dealer needs to stay in business. How much the dealer should mark it up
is debatable.

I have been sleeping on a sleep number bed (select comfort) for 12 years. They are unreal. They are so comfortable. I would definatly take it over an ounce of gold. Speaking of gold...I would recomend investing in a metal detector and sighing up with the GPA (Gold Prospectors Association) rather than buying gold. Great way to spend your free time and maybe make some money (highly recommened for the unemployed).

I bought gold once, it was some years ago. I had a friend who made jewelry as a sideline one day he was down in the jewelry gold/diamond section of Boston. He called me and said that his wholesaler had just bought some coins and was willing to sell them to him at "scrap" prices. I told him how much I had to spend and buy as many as he could. I ended up with unused condition British Sovereigns at $316 an oz. I still have them too, One of the few good buys I ever made