Collectibles Buyers Beware

Buyer beware. If you live in Ohio, you have heard about the state’s gold coin scandal. Millions of dollars from the Workers’ Compensation Fund were invested in gold coins, and over the years coins have vanished, the value has changed, etc. It is a big legal hassle. What no one seems to have reported here is that Spanish authorities have discovered that hundreds of thousands of small investors, some losing life savings, were probably swindled by two postage stamp trading companies. The world’s biggest stamp dealer, Forum Filatelico, is one of those being investigated and a trail from there leads to the Escala Group that was part of the Ohio coin scandal. Always be careful of any investment in collectibles that offers high annual returns and a promise to buy back the collectible at the original price or more.