Alternative Assistance for Precious Metal Fraud
Fraudulent coin dealers use a combination of fear, intimidation, and technical jargon to get people to make an “investment” in gold or collectible coins. Investment brokers or individuals who provide investment advice may be required to be licensed by the Securities Exchange Commission (SEC) or the Federal Trade Commission (FTC). If a dealer makes representations about the investment value of their coins or claims to provide other investment advice, you can contact the following agencies:
Private Assistance
www.stopcoinfraud.org - The Numismatic Consumer Alliance is a not-for-profit organization that has helped consumers without the necessity of legal counsel.
www.bbb.org - Do not be fooled by A+ ratings by the Better Business Bureau. However, the BBB may be able to assist you if the company follows the BBB recommendations.
Federal Agencies
You can file a complaint with these Federal Agencies, but unless there is a significant number of victims and the amount is substantial, they may not pursue a timely resolution for you :
Securities and Exchange Commission
Office of Investor Education and Advocacy
100 F Street NE
Washington, DC 20549
(800) 732-0330
www.sec.gov
Federal Trade Commission
Bureau of Consumer Protection
600 Pennsylvania Avenue NW
Washington, DC 20580
(877) 382-4357
TTY: (866) 653-4261
www.consumer.ftc.gov
If you liquidated an IRA or other retirement account, you may also contact the Commodity Futures Trading Commission as follows:
Commodity Futures Trading Commission
Three Lafayette Centre 1155 21st Street NW
Washington, DC 20581
Tel: (202) 418-5000
https://www.cftc.gov/About/CFTCOrganization/DOE
If the coin dealer has stolen coins from you, used your credit card without authorization, or issued a check on your account, you may want to file a criminal complaint with your local police and also contact these agencies for assistance:
Federal Bureau of Investigation
www.fbi.gov
United States Postal Inspection Service
Criminal Investigations Service Center
1745 Stout Street, Suite 900
Denver, CO 80299-3034
(877) 876-2455
www.postalinspectors.uspis.gov
State Agencies
YOUR State Attorney General will have a consumer protection division that handles coin fraud complaints: