Is Free Gold and Silver a Scam?
Have you seen the ads for free gold and silver recently? Do they sound too good to be true? Well they basically are! American Federal has been around a very long time and we will tell you there is no such thing as FREE gold or silver.
We get asked if we can offer free silver many times over the years. And our answer is always no. We prefer to give you the best price on all the precious metals we sell and avoid the scams and games that other dealers play.
The only way some dealer can give you FREE GOLD or SILVER is to overcharge you enough on the gold or silver you are paying for to offset the free stuff! If they sell you enough gold and silver, they more than make up for the “FREE” amount they give you. Overall, the “FREE” amount ends up costing you more.
Interestingly when we actually compared what they were getting from the competition- including the FREE silver- it was about 25% LESS silver than if they bought from AmFed at our regular price. American Federal gave clients 25%-30% MORE silver than they would have received from the dealer offering them Free silver with their order.
So there you have it. Don’t fall for these scams. You will end up giving away much of your hard earned money. You think you are taking a positive step to protect your retirement by adding silver or gold to your IRA and have instead taken a huge step backwards. Don’t get me wrong, gold and silver are a great idea for retirement. You just need to be extra careful about what you buy. After all, you are putting money away for later years. If you give a dealer a third or half of it in markups or commissions, you can’t possibly get ahead.
The best way to avoid the scams and games is to know exactly what you’re getting and exactly what you’re paying. Add up all that you are paying and divide it by the ounces you are getting, including the “FREE” amount. You will see exactly how much that “FREE” gold or silver is costing you.
Contact us to give you a second opinion on any purchase. If you already have a portfolio, whether it's in your possession or in an IRA, let us give you free CPR, Coin Performance Review.
- Nick Grovich
