Gold Scam Stopped: How Coins Online Protected Collectors

Gold scam attempts are rising—and Coins Online recently caught two in the act. We don’t just talk about security—we act on it. In July 2024, two nearly identical gold orders came in via wire transfer from separate customers. Something didn’t feel right. After a quick phone call, we realized both clients had fallen victim to a gold scam known as the “phantom hacker” con.

Thanks to fast thinking, we canceled both orders, returned the funds, and protected these individuals from losing thousands. Now, we’re sharing what happened—so you can collect precious metals with confidence and stay informed about how gold scams work.

What Is the “Phantom Hacker” Scam?

The “phantom hacker” scam is a sophisticated scheme flagged by the FBI in early 2024. It typically begins with a fake virus warning or suspicious link. A fraudster, impersonating a government agent, calls and convinces the victim their computer—and bank accounts—have been compromised.

They tell victims to move their money to “safe accounts”—sometimes in the form of gift cards, cryptocurrency, or gold bars. This gold scam is designed to be urgent, convincing, and devastating.

In January 2024, the FBI released a Public Service Announcement (I-012924-PSA) detailing the growing threat of this scam. As the FBI notes:

“Criminals impersonate tech support, financial institutions, and government agencies in a complex scheme to convince victims their funds are at risk.” — FBI Internet Crime Complaint Center

How You Can Avoid a Gold Scam

Here are some steps you can take to protect yourself from a gold scam:

• Never trust unsolicited pop-ups or cold calls about bank or device security.
• If someone tells you to buy gold “for safety,” hang up immediately.
• Verify with your dealer directly. Use only the official contact information from trusted sources.
• Report suspicious behavior to your bank and to the FBI Internet Crime Complaint Center.

Collecting Should Never Feel Risky

At Coins Online, we believe building a gold collection should be exciting, not stressful. That’s why we stand guard between you and gold scams—with decades of experience, top-tier security practices, and a genuine commitment to your trust.

Coins to Collect with Confidence

While we’re talking security, here are two premium products you can browse with total peace of mind:

• 1 oz Gold American Eagle – Brilliant Uncirculated
  America’s flagship bullion coin, fully authenticated and ready to ship.
• $20 Saint-Gaudens Double Eagle
  A legacy coin with timeless beauty and solid collector value.

Every product on our site includes full grading details—no surprises, no uncertainty.

Stay Smart, Stay Safe, and Keep Collecting

The best collections aren’t just valuable—they’re protected. At American Rare Coin & Collectibles, we’re committed to being a trusted partner in your collecting journey—not just a transaction.