Gold bugs bitten in Texas

From the Dept. of Always Deal with People You Know and Trust (Especially if You are Going to Give Them Gold), a warning tale from Lubbock, Texas, in the Avalanche-Journal:

The business was the target of several lawsuits and a criminal investigation last year over allegations that owner Edwin Chauncey accepted payments in advance for orders to buy rare coins and precious metals and failed to make those purchases.

It looks like rare coin dealer Chauncey’s marks gave him close to $2.5 million and are going to lose about $2 million of that. His coins were certainly rare. Nobody can find them.

Kamaaina Loan has been buying and selling gold for 36 years. ‘Nuff said.Would you give gold to this guy?