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How Precious Metal Scams Work

Scammers who perpetrate precious metal scams:

  • Create a false sense of urgency by claiming that metals are in limited supply.
  • Do not offer the investors the option of possessing what they bought.
  • Advise you to liquidate your pre-existing retirement investments to purchase the precious metals.
  • Advise you to invest in precious metals through Self-Directed Individual Retirement Accounts.

What to know before you buy:

  • Ask how the financial professional is qualified to provide you with the service.
  • Ask how the product meets your financial needs.
  • Ask how the financial professional is paid for the service.

Tips to protect yourself:

  • The US Government and legitimate businesses will never request that you purchase gold or other precious metals.
  • Protect your personal information. Never disclose your home address or agree to meet with unknown individuals to deliver cash or precious metals.
  • Do not click on unsolicited pop-ups on your computer, links sent via text messages, or email links and attachments.


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