Texas Attorney General Ken Paxton, with input from numismatic experts, has issued a consumer protection alert about buying and selling gold coins. Paxton worked with Michael Fuljenz the President of Universal Coin & Bullion in Beaumont, TX and rare coins and precious metals writer.

“If coins you bought as an investment would have to double or triple in value before any gain could be realized, you may have been a victim of fraud,” Paxton’s advisory said.

Titled Consumers Should Do Their Research Before and After Investing in Gold Coins, it emphasizes how important it is for collectors to work with reputable dealers to avoid paying too much or not getting paid enough when buying and selling. They recommended researching dealers through the Better Business Bureau, the American Numismatic Association, the Professional Numismatists Guild, Professional Coin Grading Service, and Numismatic Guaranty Corporation.

“By issuing this important consumer protection advisory, Texas is not only assisting Lone Star state residents but providing nationwide benefits to the public who can access this useful information online. Attorneys general across the country now also have a template to provide consumer protection advice to their residents about buying and selling gold bullion and gold coins,” said Fuljenz.

Other tips included not responding to cold calls since those telemarket calls may not be registered and they pressure customers. It also cautions not to trust dealers who offer guarantees on rising value, say that something will not decrease in value, or stresses government gold confiscation.

The full consumer protection advisory from Texas Attorney General Paxton can be accessed as a printable PDF at www.texasattorneygeneral.gov/cpd/gold-coins.