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Lately, I’ve been watching the online coin market like a hawk, and something unsettling keeps popping up. Those “spot or below” deals on gold and precious metals might seem like collector’s goldmines, but trust me – they’re often hacker bait. Let me walk you through what I’ve learned so you don’t get burned.
Hacking Incidents Are Skyrocketing
I’m seeing more collector accounts get hijacked than ever before. Just last week, a longtime member’s profile was taken over, with hackers posting American Gold Eagles at fire-sale prices. This isn’t random mischief – it’s a deliberate scam targeting eager buyers. When coins are priced suspiciously low, alarm bells should ring.
When Hackers Hit Close to Home
I’ll never forget chatting with a numismatist friend who got hacked across NGC, PCGS, and major auction sites simultaneously. They only stopped the madness after resetting everything and adding extra security. What chilled me? The hacker used the exact same “too good to be true” tactic everywhere. It showed how vulnerable we all are when security slips.
Protecting Your Collection
From what I’ve seen, these simple steps make a huge difference:
- Password hygiene is non-negotiable: Use unique, strong passwords everywhere. Hackers often break into one site to access others.
- Turn on two-factor authentication: Especially for auction accounts – that extra layer matters.
- Review accounts regularly: Watch for strange password reset emails or changed contact details.
- Question unbelievable deals: Spot-price offers demand extra seller verification. Always check their history.
Your Wallet at Risk
What really scares me? Sites like Heritage Auctions where payment details live. Imagine a hacker changing your shipping address or making purchases. I’ve heard horror stories about slow support responses too – which is why you should monitor these accounts weekly and report anything odd immediately.
Staying Sharp in Our Market
After years in this hobby, I’ve learned that gut instinct is your best detector. If a deal feels wrong, it probably is. Take five minutes to strengthen your security today – it could save you thousands tomorrow. And always remember: in numismatics, that glittering bargain might just be fool’s gold.
