National Gold Exchange

[truthteller]

So, does anybody got the real story? :shrug:

 

 

 

TRUTH

[gmarguli]

Depends, what's the current story.

[WoodenJefferson]

inka dinka doo

[RWB]

The usual: too much money, too little integrity.

[gmarguli]

Interesting. Wonder how this will affect ICG.

 

Anyone have any information on the 800-lb gorilla in the industry that supposedly lost its line of credit? Was that true?

[rrantique]

 

http://www.tampabay.com/news/business/article1022261.ece

[MikeInFL]

Truth, What would you like to know? I have a few friends there (actually friends of friends) and may be able to get a few answers....Mike

[truthteller]

Truth, What would you like to know? I have a few friends there (actually friends of friends) and may be able to get a few answers....Mike

 

What I would like to know is if the gold NGE was holding for client's personal accounts included in the bankruptcy filing as part of the company's assets? Also, when did NGE start bouncing checks? In addition, how much outstanding debt was held by coin dealers?

 

All this has reprecussions throughout the coin market. It will be an interesting ANA coin show.

 

 

 

TRUTH

[MikeInFL]

I'll see what I can find out, but my sense is that my contacts may not be willing to comment given the legal ramifications.

[MikeInFL]

I have been unable to unearth the information requested by Truth, but one of my contacts at NGE -- who was called and told not to come into work -- has since gone back to work. FWIW....Mike

[DC Dawg]

Interesting... I saw a National Gold Exchange commercial on CNN yesterday during lunch. Co-workers who were sitting with me and know that I am a collector asked me about the commercial. I told them about the deception--they were showing one ounce gold coins and selling "at their price" tenth-ounce coins--I think the commercial advertised a price of $119 per coin.

 

After the usual "is it worth it?" questions, I gave one of them the name of a nearby dealer that I know is reputable.

 

Scott