Doylestown Gold Exchange is alerting local residents to a fast-growing and highly coordinated scam that has resulted in millions of dollars stolen from seniors across the United States and Canada. Criminals posing as federal agents, bank representatives, and tech support specialists are coercing older adults into handing over cash or gold bars under the guise of protecting their financial accounts.
This scam, commonly called the “gold courier scam”, has escalated rapidly over the past two years, with cases documented in New England, Delaware, Texas, Iowa, and Canada. Nearly all known victims are over the age of 60.
A Sophisticated Scam Designed to Instill Panic
The scheme typically begins with an urgent phone call or a frightening pop-up message on the victim’s computer. Scammers claim that the senior’s bank account has been hacked, their identity is at risk, or their computer has been compromised by criminals. In many cases, scammers impersonate trusted institutions such as the FBI, the Federal Trade Commission, local police departments, or major banks.
Victims are pressured to take immediate action “before more money is stolen.” This often includes withdrawing large sums of cash, converting cash into gold bars, or purchasing gold to “secure their assets.” The final step occurs when the victim is instructed to hand over the gold to a courier, supposedly for inspection or safekeeping.
This courier is part of the scam, and once the gold is handed over, it is gone permanently.
Real Cases Illustrate the Scale of the Threat
Recent incidents reveal just how widespread—and devastating—these scams have become:
- New England: Over $26 million stolen from elderly victims in just two years, primarily through gold pickups at victims’ homes.
- Ottawa: A couple lost $460,000 after responding to a fake computer pop-up and being convinced to “invest” in gold with scammers.
- Delaware: Scammers posing as federal agents persuaded a woman to turn over $2.1 million in gold bars.
- Iowa & Texas: Arrests were made after suspects repeatedly visited elderly victims to collect gold under false pretenses.
These operations are well-organized, convincing, and specifically designed to target vulnerable adults.
Warning Signs Everyone Should Watch For
Doylestown Gold Exchange urges local residents and their families to be aware of key red flags:
- Sudden calls claiming suspicious activity on bank or investment accounts
- Anyone pretending to be from the FBI, FTC, or a bank fraud department
- Instructions to withdraw large sums of cash or purchase gold immediately
- Computer pop-ups claiming accounts are hacked
- Requests to keep the situation secret from family or bank staff
- Couriers being sent to the home to collect money or gold
Legitimate agencies will never ask individuals to hand over cash, gold, cryptocurrency, or valuables to a stranger or courier, under any circumstances
Protecting Yourself and Loved Ones
Doylestown Gold Exchange encourages residents to take the following steps:
- Hang up immediately if a caller pressures you to withdraw or move money
- Call your bank or the agency directly using an official phone number
- Never trust a phone number provided by a caller
- Ignore high-pressure computer pop-ups; restart the device instead
- Discuss scam awareness openly with aging parents and relatives
- Report suspicious calls to local law enforcement right away
Prompt reporting can stop additional attempts and help authorities track active operations.
A Message From Doylestown Gold Exchange
As a trusted local resource for precious metals, we feel responsibility to protect our community. These scams are devastating, and they’re targeting some of the most vulnerable members of our community. Knowledge is one of the strongest tools we have to prevent these losses.
Doylestown Gold Exchange encourages families to have these conversations now, before a scammer ever makes contact, and to rely on official resources for guidance and prevention.
