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This article is excellent and validates a concern that I have had for a while. My Father is 83 years old and one afternoon while visiting him in the hospital he received a phone call from a salesperson at one of these companies. The salesperson spoke loudly
so I could hear much of what he was saying. He spoke as though he were a close friend/family member using a phrase similar to, " I know we've never met but your like a father to me...." He even referenced my fathers service in the military and said he was from the same branch and used a popular army phrase used within this special group. As soon as my father hung up I asked who it was and he said some guy tring to get his business. It is classic sales 101 at its lowest level to call a sick person in the hospital, regardless of age, and try to "build rapport" in order to get the business. It is even more criminal to prey on the elderly and others that may be isolated from from family members.

Comment by Lisa — July 21, 2007 @ 08:29AM

I spent considerable time with Mr. Spivack explaining the proper marketing of rare coins, the work I've done with Mr. Fuljenz over the years, and the excellent reputation I've known Mr. Fuljenz has enjoyed within the rare coin industry. I am sorry that he seemed to be more interested in the amount of fees Mr. Fuljenz paid to my firm rather than on the positive points I made about Mr.Fuljenz and his company, Universal Coin & Bullion of Beaumont, Texas.

Comment by B.J.Cutler — July 25, 2007 @ 09:56AM

Wow, I guess hell is going to get just a little bit bigger for when these people move in. I hope they have to repay all the people that they conned into these "investments." Here some info for people thinking to invest: Go to a respectable company such as apmex.com and check out the prices that they are offering. APMEX is selling these coins for just a few dollars over spot price. Companies like the ones in Beaumont are charging twice what they paid.

Comment by Mark Ramierez — July 25, 2007 @ 03:18PM

How can you be so one sided. Lets hear from the other side. This attorney seems to be playing dirty if this case has not been tried but all aired out with names and alligations. WOW , run a story for the other side , would love to read it. Very intresting view and wonder if you have invested with them? I have and can say only good things about Mike Fuljenz and what he recommends, yes his salesmen are excited but his strategy works at least it did for My family and I !

Comment by Bill — August 1, 2007 @ 04:49PM

We knew my mom and dad had an interest in gold and silver. Depression era parents see a safety in investing in the dependable metals. It won't lose value like the "worthless paper money". However, the tactics outlined in the article are exactly what occurred with my parents. They spoke like long,old time friends. We even found a get well card from one of the companies.

Since they live with us now, we've become very acquainted with the people doing business with my parents. But the tactics used in this industry are heavy handed, demanding and shameful. The urgency mentioned was right on target. One day my mom was rushing out the door because this letter had to be postmarked THAT DAY to secure the silver dime purchase just discussed over the phone. It was a check for $76,000 to one of the Beaumont coin dealers. We were mortified, but they insisted that it was a great investment, and it is their money. After some lengthy discussion and a call to a local dealer, they stopped payment on the check. The dimes were wildly overpriced. The call received the next day from Beaumont was anything but friendly. The man was harsh and angry. He belittled my mom as she was apologizing. It was unbelievable. I have since forwarded the phone to my number and intercept all calls. In the process, I've taken about a dozen calls from various coin dealers around the country. I'm sure they share their lists and their stories of triumph over gullible and lonely elderly people. The experiences outlined in the article were exactly what has happened here.

Comment by Lauri — August 4, 2007 @ 05:53PM

Sure am glad I found this article as my 77 yr old father has once again started collecting coins and going crazy.. We live just over the bridge from Beaumont but so far he has only purchased coins from the Mint or the Coin Shop on line. I have made copies of this for him to read. Thank you again for printing the information. I am sure there are several "honest" coin dealers, problem is finding them...

Comment by Shirly — September 11, 2007 @ 11:07AM

Wow, I cannot believe this...the same thing has happened with my 72 year old father. I have witnessed the phone calls that pressure my father to buy the stupid coins. He says no at least 4 times and the thief continues to pressure him to buy...with the continued pressure my father buys the coin. The thief befriends the victim and calls to "chat"...all in hopes to sale a coin...it is like raping someone over the phone. Is there anything I can do to get the thief to quit calling my father's house?

Comment by Carry — October 8, 2007 @ 05:51PM