Goldline - The wrong way to buy gold

Don't be fooled by expensive ads, celebrity endorsements, or high pressure sales pitches. if you buy gold from Goldline, you will line their pockets as they pick yours. Visit www.schiffgold.com
FYI A few times I mistakenly said "goldcorp" when referring to "Goldline." Also, on the Perth Mint, a few months ago we added a .75% surcharge to purchases for residends of the 21 "model states." This was necessary to help offset the higher compliance costs associated with those transactions. So our total markup on those transactions is 2.75% For residents of the remaining 29 states our markup is still only 2%. In addition we charge a 1% markdown on all sales. For a complete explanation of the program, including all applicable charges, please visit www.europac.net/investment_per...
Also check me out on / peterschiff and / peterschiff

[@godvad]

You're an honest man, Peter. I really wish for US to get "stuck" with politicians like you.

[@jamescc2010]

Very good and accurate info. Thanks again Peter. Folks need to shop around at least 3 companies as a general rule. If you do, you won't overpay and get very bad investment.

[@lextalionis2001]

customers who don't undergo "due diligence" and goldline deserve each other

[@hablerz]

Peter Schiff is a rare individual indeed , an honest financial analyst.

[@DanScharlach]

He is so right on with this! Great topic. Will pass this on to those with interest. Thanks! Great guy!!

[@kgarred]

Thanks Peter for telling the truth. I only wish I would have started listening to you 5-6 years ago. I now realize I got ripped off by Goldline. I recently moved my entire retirement savings to EuroPac becasue I trust you and your firm. I will most certainly buy my gold from EuroPac in the future. Thanks for your honesty.

[@IvanTheHeathen]

For those who are interested, I would recommend buying gold and silver from (apart from Peter's company, of course) BullionDirect and Gainesville Coins. Their prices tend to be rather low compared to most other companies and they charge only slightly above the spot price. I'm actually waiting for a shipment of 300 sliver Buffalo Rounds which should be here any day. Judging from the looks of things, shipping and handling may pay for itself by the time my coins get here!

[@korzym]

I'm going to buy your latest book this week, but you keep posting these vids Peter

[@mtanousable]

I think people that buy physical gold tend to do so based not on a "return on investment" basis alone, but also so that they don't have to worry about actually getting it if and when the SHTF.

[@RainbowGardens]

I always miss the Wednesday night radio broadcast for Europacific. I wonder why the show is no longer uploaded the day after...it takes atleast a week to hear it now???

[@WritingandFighting]

Thanks for bringing this up.

[@jaingxu]

Thanks for the video Peter.

[@stellarspellar]

@TheRumpletiltskin I'm glad you brought this up. Corporations are not supposed to be "ethical." Corporations exist to make money and the people who trust them with their money need to keep that in mind at all times. Be vigilant and leverage the Internet to get as much information as you can.

[@solitaryairborne]

Excellent vid. Mr Schiff! I wish someone gave me straight talk like this when I first dove into this market. Luckily I have a brain and figured this out on my own before buying. Blanchard is not too bad if you buy 50 or more gold eagles at a time. I Have also had good results with bullion direct, but only with silver bars. I can't speak about their other products. Of course Apmex is good too.

[@gondwanalon]

Mr. Schiff is right on! I use to respect Glenn Beck but no more. I checked out Goldline. I asked the salesman what percent over spot he was charging me for the Swiss Francs that I was buying and he told me 68%. I about flipped and told him to cancel my order ASAP. Then he offered me the same coins for 15% over spot and I told him no way. I Like APMEX. They only charge 1 to 2 % over spot for gold bullion coins.

[@johnjohnson2855]

How’s that fear today??? 12 years later and I’ve been buying gold/silver from gold line ever since. They’ve never once steered me wrong or ripped me off. I think your scaring people to go to your company.

[@dontdispie]

thank for this Peter, very very good.

[@C0017A]

Peter, God bless you! Thanks for a breath of fresh air & honesty. How do I buy from you? Randy "C-17A"

[@theduke502]

@SchiffReport Mr. Schiff, who do you recommend buying from? I heard Capitol Gold Group, and the Midas Group is supposed to be good. What do you think?

[@RainbowGardens]

@berry582 OK..that is scary..........

[@MrB0TT]

Peter, please do a vid on silver. I hear alot about gold from you but have also heard you say silver could have even more upside. Please explain the differences between the two metals as an investment option. Thanks

[@RyRyVids]

You're a good man Schiff.

[@er1cmaurer]

That was fantastic, thank you!

[@penguinistas]

Good point, thank you for posting.

[@culturehorse]

Good cover on this company. And. superb public service info, Peter S. This not news to me however. In may, 2006, they were trying to sell me gold swiss francs for 900+ per 1 oz. coin. I hung up with them did the #s and renegged! on them after i realized their mark up was abusive. Great stuff, SENator Schiff..

[@HowToBuyGoldCoins]

Good information

[@fuelban]

informative well made video guy, very interesting how some companies profit to an outstandingly rip off amount, & "REMAIN IN BUSINESS", What does this tell us !!!. Thom in Scotland.

[@ytgv3fc7]

@jeffreagan2001 is that to sell with or without physical delivery? the goldmoney accounts allow zero commission moving of metals from one account to another person's account at goldmoney. Can Perth mint do the same for one customer's holding's to another's ? Delivery must be a factor, such things are not free.

[@ronpaul101789]

Question. What do you do with the money from your sale Peter? I thought it was bad to be dealing with the US dollar.

[@dmonat]

@ShangTsungBeta That is EXACTLY what Glen says almost every day! Kudos.

[@Waterjaijai]

Peter, please let us know when is the exact date and address of the Europac precious metal opens, thank you.

[@samuelmorales2344]

Lol I just laugh when Peter says "weener." Keep up the work Mr. Schiff.

[@00dfm00]

@mrzack888 The kind of law Schiff is talking about is common in the financial industry - compliance. It means that anyone who sells gold, in this case, has to fill out forms each time a sale is made, etc. This often involves hiring an extra person or taking an existing employee away from productive areas to deal with the paper work - which isn't productive. Those costs are passed on. Regulation often gives a false sense of security meaning even more people won't shop around & ask questions.

[@cdm1972]

Peter, please let us know about your company when it's in business! Sounds good.

[@ytgv3fc7]

@EmpoweredOfficial you may not like the idea, but just in case: rabbits make for good eating, and are easily fed, and their pellets make amazing fertilizer for the garden. Or, there's angora rabbits for which you leave them alive and happy but take their fur to make into yarn for sale, for making your own clothes, and so on.

[@iloqin]

Glenn Beck has been sold out for a while. He's fun to listen to, but I definitely take most of the media as a grain of salt. PETER SCHIFF is the man, he's saving consumers money as well as giving great advice for long term welfare. Peter Schiff - 1 Glenn Beck - 0

[@Stealth0031]

Peter, I agree on your Goldline price analysis (based on a purchase I made). Still, I would also argue that Mr. Weiner was trying to take down Glenn Beck. His statements had very little to do with Goldline. I urge you to make check this out and speak out--- We cannot let govt reps like Mr Weiner get away with such attacks. Thanks.

[@Steve83B]

@Drav1212 Those prices are subsidized by the respective countries.

[@ytgv3fc7]

@Drav1212 some are subsidies, some are bulk purchases from pooled amounts, some are legislation to stop prices from being too high but as per market-forces do then create differentials in how many people will actually do any selling. Ontario pharmacies for example will differ in dispensing fee but legally CAN NOT differ in actual drug prices. EVER.

[@atanboy]

thanks for the info...senator!

[@LaserWoodShapes]

@robrigo80 I have hear Beck personally endorse Goldline. If you have listened to his show for any length of time you will hear his heartfelt endorsement of the company that rises above the usual commercial spots during the break. Glenn routinely says "should I buy from goldline, YES I buy from goldline, I have personally seen their facility and have looked them in the eye" Beck gives 2 minute testimonials for the company with regularity.

[@ronpaul101789]

@residentzombie Yeah, I started doing some research and like their prices. Like Peter said before in a earlier video, I don't think Glenn Beck knew they were doing this.

[@pobaldy66]

@gringott12 as an investment, the ruling point is costs/premium above price. in this regard, beck is doing a disservice to his clients.

[@RedDelPaPa]

@charlesfuchs I think the smart money is in both Gold AND Silver.

[@SparkyMcBiff]

What are you talking about? there is a spot price of gold and when you buy physical gold you always pay a slight percentage above that spot price. The percentage (also called a premium) depends on whether it is a coin or a generic round or a wafer or bar. When you sell gold you generally sell for somewhat under the spot price. The dealers make their profit on this difference between what they buy and what they sell at. If one dealer charges too high a premium then simply buy from another one.

[@vivaloriflamme]

Thanks for a great vidpost.

[@Turbo291]

Schiff - the KZbin's Glen Beck. Gold is worthless when the economy is in shambles especially since there is so much of it. As compared to copper, steel, aluminum..these are things people need in tough times.

[@Talent2008]

I buy gold at least once, if not twice a month. I've never purchased physical gold. Only contracts. People don't realize that if you have actual gold, the best you can get is about 95 percent of face value, on a very good day. Most places that buy your gold offer only 85 to 99 percent of face value.

[@jorgeperez3518]

Awesome video

[@theeastwatch]

Thank you Peter Schiff... If my family lived in CT, I would FORCE them all to vote for you :) Of course I don't think any forcing would be necessary.

[@jgehbinv]

I have 401k money available to me in the next 2-3 months due to me leaving where I am working and the option available to me to move that money from a very limited number of Vanguard funds to something else. So I believe I need to invest part of that money in gold. That said, what is the option for doing that, such that I am not getting ripped off in terms of the purchase price? Second what type of coins should I invest in (i.e. Canadian eagles)?

[@oiuoiu988]

@qralston yea, thats goofy. how does the transaction take place if you ARE a UK resident?

[@ytgv3fc7]

@satuon no, honesty is everyone's responsibility.

[@gmakepiece]

@CytherLynx I shall go to Perth Mint! After all, it's not too far from Prahran in Melbourne. Except for the vast distance...

[@pobaldy66]

@gringott12 sales people are, in effect, running businesses themselves. there is little to no commission on small-ticket items, which my comments re. the magnanimity of sales persons was getting at. these smaller-ticket items represent repeat business too, and sales people are often directed to perform such duties, even though no direct compensation is in the offering.

[@newbetterandhappy]

I'm sure Beck etc., are also vested in gold, they also stand to profit greatly from the runup.

[@glazinq]

@xtarka I don't understand your thinking. Surely in an environment where the share market is almost certainly headed for another crash and where the price of gold is rising steadily, gold could be considered a superior investment to shares, at least in the short to medium term.

[@Waterjaijai]

@Husky217 coz Peter said he was looking to hire sales representative, i thought he looks into "selling" type of person. with web site, selling is automatic.......so i was just wondering... but is okay, thank you for the information.. look forward to Peter's blog about the store then...^^

[@davincij15]

caveat emptor You are not getting ripped off if you agree to buy something. A company can not put a gun to your head. But if they lied to you that's fraud.

[@aaron0883]

At the rate of increase Peter Schiff is at I think 'goldcorp' is going to offer a better deal that EuroPacific Precious Metals. There was a 1% increase within two minutes from 7:41 to 8:54 in this video. At This pace imagine what his mark up would be when he actually gets everything up and running. I would have to spend billions in order to get 10K in gold. Even so ... good video, thanks for the info.

[@satuon]

@juujuuuujj But what would be your justification for forbidding Goldline to sell coins at $400? I mean the current "spot" price is not set in stone, it's what people are willing to pay/take for the coin. Do you declare that Goldline can't sell coins for more than the average price? I thought that every seller can choose whatever price they want to ask for. How would you phrase a law forbidding Goldline to sell at the price they want?

[@satarnag]

@BOZ11 I respectfully disagree. The fact that a universal commodity price exists, further proves that there is no deception of value, therefore no fraud. Like I said, if you know that gold is $1200 an ounce, then you should know better than paying more for something that weighs less.

[@wsarris424]

Precious Metals company is a great idea, Peter...this will make you very rich

[@respectanofficer]

How you mean, u think that silver will rise more the next years than gold?

[@panzerkilla]

Once again, Peter was right!

[@trailkeeper]

It's probably better to Prep with food and supplies for a shtf , problem times. Some people probably wont even accept any "valueables" like gold and silver, or they will be signifigantly less in value in those times when people should have prepped for things they will actually need and not decide to get and it wont be available during rough times. Look up prepping here on youtube, there is a community.

[@MirageScience]

@GuildF40 i think gainesvillecoins overcharges slightly aswell on their silver coins but its not a crazy amount

[@Steve83B]

@Drav1212 No stupid. Take Australia for instance: Pharmaceutical Benefit Scheme (PBS):[3] Australian medicare health system provides subsidized access to prescription medicines for the people of Australia under the Pharmaceutical Benefits Scheme. This scheme aims to provide necessary and life saving medications at affordable costs. The funding to run this scheme comes from the public by means of the taxes; it is about $2 Billion annually. It covers around 93% of Australian prescriptions

[@owenander]

It's the consumers job to certify the quality of the goods purchased. Whatever the consumer is willing to pay is the fair price for goods or services.

[@ChrisKillz503]

You should flood ebay with coins Schiff, the ASE's are always going for like 4+ over spot +shipping

[@Daniel44125]

Apmex seems to be fair. Anyone disagree? Who do you buy from? Just curious if there is any other good dealers.

[@MillerOutdoors1]

Peter, it would have been good if you had included how the US Mint rips off people even more in regards to the price of coins.

[@willyjones7]

@ronpaul101789 id like to know this as well what do you do with all that fiat money?

[@mtanousable]

If we are heading into that bad of a situation, you wouldn't be taking your physical gold and silver to a dealer to get dollars. You wouldn't want dollars. With a contract, you would have to actually ship your gold and silver to you for use. If you already have some physical stock, then you can use it AS MONEY immediately, at any store that will take it. When the SHTF, you won't want to sell your gold contracts for dollars - they'd be utterly worthless by the time you got out the door.

[@Cinemaguy2007]

what you guys think about monex?

[@NotThat3]

@bdc03 I agree, and I don't think anything I said clashes with your comment.

[@ChrisKillz503]

@Daniel44125 Doesn't apmex have a 20 minimum shipping fee? That's waxed

[@oiuoiu988]

i always find myself wondering why there is no company that will sell me gold, store it for me and then by it back by putting the payment in dollars, onto a debit card immediately, like a gold bank account and you sell an ounce(or perhaps less) at a time if thats all the money you need in the short term... theoretically i could see this working without me ever deciding to sell, i would simply be agreeing to sell some gold by making a purchase with the card.

[@iamundergrace]

@alandshawni do you work for goldline?!?

[@Icriedtoday]

This is true. I like Glenn Beck but feel that Goldline is not serving him, or their customers, well. Sure they might charge more in order to advertise with Beck, but the difference is more than can be substantiated by advertising cost.

[@Gtjg88]

Buy silver before gold. Because when ever gold goes up just a little, it always makes silver go up substantially more. Right now I would buy now, and HOLD ON to them. Don't freak out if if they go down a dollar or two, this is a long term investment.

[@mrzack888]

there has to be some regulation to force sellers to warn or educate people on the real current market commodity prices, so prosecution can be more severe if people get tricked.

[@gringott12]

@pobaldy66 Sure, that's right. I doubt it. If the saleman is on commision, they would rarely do that unless the profit margin was higher on the one on sale. You don't get retail, I guess. Example: Store sells lettuce for less than they paid. Why? It's located in the entrance, to get to the register you have to pass through almost the whole store. No short cuts allowed. Milk sold at cost, but it is located as far from the registers as physically possible. It's called the free market, brother.

[@Talent2008]

But if we are heading into that bad of a situtation, it's easier to offlod if you own it as a contract. 1 click on the computer and it's sold @ fair market value. Rather than lugging it around to a dealer who may or may not purchase it, then if they do, it will be at a discount so that they can make money off the transaction. Selling it via contract may have a small sales charge, but nowhere near what the dealers will charge you. One guy I spoke to only pays 94% of fair market value.

[@cobracarg]

@jmth1974 no... you dont invest in t-shirt because of the same reason Peter uses the shoes example.... unless you have a t-shirt store or something.... but then you would just get your t-shirt from a wholesaler....

[@drunvert]

So true.

[@1XMarksSpot]

Peter Schiff has my business :)

[@throwerofturds]

peter , you are to honest . let beck be . and lets his potential customers be also . life is a risk , dont worry about people , they will figure it out . beck was just pumping the gold guys

[@kevtimc]

right after this video glenn beck started prefacing his pitch with "I don't buy it as an investment I buy it as insurance on inflation" which makes no sense.

[@Imrepenting]

Whats a good competitor of Goldline to by gold an silver?

[@peterschiff]

+Jamal Hunt www.SchiffGold.com

[@RobHocker1]

@Turbo291 - Because these non-gold metals are commodities needed for manufacturing, is precisely the reason why they don't make good money. True money must have a degree of difficulty to "create" (unlike paper fiat), AND it must be only minimally usable for other purposes.

[@mrzack888]

@00dfm00 No. Government doesn't have to hire any more people to enforce these regulations. A simple regulatory law is not going to break the bank. It will create more transparency, and more peace of mind for consumers. And will help the Gold industry even more.

[@residentzombie]

@btigtime2 Buy it from APMEX, that is until Euro Pacific Metals starts :P

[@UltraRegular]

Should we still be buying gold? It seems like its topped out, and out of reach.

[@EndTheFedRes]

@SuperJoeAnonymous I get lots of silver from ebay as well, but usually pay via paypal and have shipped to home. Worst comes to worst...I pay my landscaper in silver, and currently have none.

[@a4finger]

good video

[@quest2k]

@GuildF40 Apmex is a great deal as well

[@CharlesThomaston]

@EMPIRE0FLIES Agreed. I don't have enough wealth to buy gold coins, but I would buy ten silver coins minted with Ron Paul on one side of the coin, and Peter Schiff on the other.

[@robrigo80]

@AtlasHBS No I understand but that can all be apart of the advertising package. In radio you have DJ's that read live commercials all the time. Howard Stern routinely says he uses products I am sure he has never even seen. I think that it may not be as common on TV, but Beck is really a radio guy, so maybe they brought that idea over, becuase no one watches commercials anymore. I could always be wrong, but you never know. Just saying.

[@MIT2004]

@charlesfuchs hell yeah, you can call me the silver surfer bc im buying up all the silver for $8 oz