Credit reports, and gold coins

From: Harry Matthews <matthews@panix.com>
Subject: Credit reports, and gold coins
Date: Wed, 29 Jul 1998 22:19:21 -0400

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CREDIT REPORTS?
Regardless of the cost, it's vital to check all three bureaus at least once a year.  As the
President of the Board of Trustees of a New York City co-op, I see dozens of credit reports each
year, and I am always appalled by the obvious inaccuracies I see.

In my own case, I discovered that Trans Union failed to note -- 11 months later -- that I had
paid off my mortgage.  The company also listed as "current" a charge account with a store that
had been out of business for more than a decade.  To top the cake, they listed two "former
addresses" where I have never even visited.  After my protests, these errors were corrected.

Most of the information the bureaus collect is correct, but if you, the consumer, don't keep
track of errors, the companies just don't care.  Especially if you have a common name ("Smith,"
"Brown," "Jones), errors are likely to be numerous.  It's worth the $20 - $30 it takes to check
out all three listings.  Some financial software (like Quicken) includes modules to simplufy the
process.

GOLD COINS?
Surely you jest!  In recent years, stocks and bonds have gained 12-20% per year, while gold has
remained static.  In short, investing in precious metals in the current market is a good way to
lose money fast.  Keep in mind, too, that holding gold coins involves substantial storage and
insurance costs that further reduce this non-existent gain.  If you want to "put your money in
the ground," stick to stocks devoted to natural resources, like oil, coal, steel, copper, or
even gold stocks.  Coins are a sucker bet!








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