Thursday, February 12, 2009

GSR - Feb 14 Kal Gronvall & Chris Waltzek

GSR - February 14

Featured Guest:

Kal Gronvall



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2nd Hour:
The Gold & Silver Exchange-
Kal Gronvall-
About me; and the scams in the coin industry
By trade I am a high school and college English teacher, having taught a total of 11 years. After finishing my Master's degree in 1993 I tried to get back into teaching, but there was such an excess of teachers I couldn't find a job. So, in the fall of 1997 I took a job with the largest gold coin company in the country located in Minneapolis. I worked for that company until just after 2000 turned over. Then I left that company to work for another gold coin company in Burnsville, Minnesota. While working for these two coin companies for a total of six years I got a pretty good handle on the gold coin business, and to my shock, I witnessed some of the lowest, most despicable acts I had ever seen in my life, as other gold brokers around me would lie to customers, misrepresent coins and make false claims about them, promise people impossible monetary gains if they bought certain coins, and the management went right along with it.
I decided to go on the radio and expose these scams in the coin industry I ended up on national radio talk shows doing just that. The biggest problem with the gold coin industry is the fact that it is unregulated. It is basically “buyer beware.” Whatever they can get away with they get away with. In late 1998, a talk show host asked me why I was speaking out against the coins that all the other companies were recommending. I simply told him that these companies sell certain coins because they bring huge profits, not for the customer, but for the coin company. The talk show host told me that many people from the listening audience had asked if I had anything in writing about the scams in the coin industry. I told him that I didn't but that I could put some of these things in writing. I started with 11 pages, then it grew to 17, then to 21, then to 26. I will soon be updating my paper. After I update it I will publish it as a book. I am offering this paper free of charge to anyone who calls and requests it.

http://silverinvestor.blogspot.com/