Chris Olson

you know, I have a retirement account and I'd like to put $100,000 of gold into the account.

And the salesman says, yep, we can help you do that.

Just sign this agreement and we'll get the paperwork started and we'll sell you $100,000 worth of gold.

And the typical understanding of most people is they think it's like buying a stock.

So they're assuming that

If they've bought $100,000 worth of gold, but it's worth $100,000.

Yeah.

And if there was some fee associated with that transaction, that it would be disclosed or that it would be clear.

Yeah.

One or 2%.

Totally.

Maybe three or four if it's silver.

You've got a range of acceptable percentages.

Yeah.

associated with precious metals transactions, depending on the format and the size and the delivery requirements.

And so there is a certain percentage which is fair and typical.

But what happens in these types of transactions is the customer is charged 40, 50, 60% above the price of gold or silver.

And they don't know it.

And I've received receipts from customers of these types of brokers.

And I've looked at the numbers.