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New Jersey “Fake Gold” Story a Reminder to Respect Reputation

Countless gold and silver scams have been reported since the current gold rush began in 2001, but most of the horror stories received by the representatives at the GoldSilver.org Help Desk (800-394-3337) involve household investors who were scammed, or almost scammed, by a gold or silver dealer. NJ.com has reported that a New York man has been arrested for trying to pass off fake gold bullion to a gold dealer.

Behor Mushiev, 49, is alleged to have strolled into a Bayonne gold store with three pieces of metal that he claimed were “pure” gold. The store’s proprietor performed an authenticity test, which was inconclusive.

The suspicious store owner called another gold and silver dealer for advice, at which point it was revealed that Mushiev had tried to pass his metals off at the other dealer’s store, too. Police were called and Mushiev was promptly arrested.

The shocking part of this story is that the Mushiev was allegedly targeting gold dealers, and even the gold dealer himself could not prove that the metals were counterfeit. Could this be a disturbing new trend in gold coin scams?

GoldSilver.org has a 22-year track record, and we have never shipped a single counterfeit item to any of our clients. What’s more, our depositories and staff are regularly trained on the use of counterfeit gold coin detection equipment and methods. To learn more about protecting yourself, be it from fake gold and silver or a falling dollar, give us a call toll-free at 800-394-3337 and request up to four free gold and silver investing guides below, including our new Gold and Silver IRA Insider’s Guide.

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