Precious Metal Scams - South Shore Bank

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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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