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About Gold Line Company seller of gold and silver coins

About Gold Line Company seller of gold and silver coins

Goldline, LLC was a retail seller of gold, silver coins, and other precious metals for investors and collectors.

Gold Line Company traced its formation to a Deak & Co. subsidiary created in 1960, a firm that in the late 1970s was the largest storefront gold retailer and later went into bankruptcy in the 1980s.

The company was later bought and sold several times in the ensuing years.

Gold Line Company sold its assets to A-Mark Precious Metals, Inc. in August 2017.

During World War II, Nicholas Deak, a Hungarian immigrant, founded Deak & Co. in 1939 and served in the OSS (precursor to the CIA).

Deak & Co. specialized in foreign exchange, gold coins and bullion and was considered a pioneer in the business.

By the early 1980s, the company was the largest retailer of gold bullion and the oldest and largest retail foreign exchange dealer in the United States.

While Deak described himself as a gold bug, the company felt the strain of growing too rapidly during the gold economic bubble, which burst by 1982.

At that point, they planned on expanding into the wholesale market, offering services to companies instead of the public.

Gold Line Company was the country’s leading seller of South Africa’s Krugerrand before it was pressured to halt sales because of South Africa’s apartheid system in 1985.

About Gold Line Company seller of gold and silver coins

About Gold Line Company seller of gold and silver coins

In 1984, Deak & Co. faced allegations from the President’s Commission on Organized Crime that they laundered money for Latin American drug traffickers, facilitated the Lockheed bribery scandals, and smuggled currency from the Philippines.

As a result, shortly after that, Deak & Co. declared bankruptcy to reorganize.

In 1985, the company was purchased by a Singapore lawyer for $52 million– the most valued asset was Deak’s Swiss bank.

In 1986, the foreign exchange and gold business was sold to Australia’s Martin Properties Ltd. (later renamed Deak Morgan [20] for $12 million.

The following year, the company was transferred to New Zealand-based NZI and expanded its gold coin dealerships by one-third.

At the same time, Deak Investor Services, Inc. changed its name to Deak International Goldline Ltd

Gold Line Company was a retail seller of gold coins, silver coins, platinum, bullion bars and coins, special collections, currencies, and other precious metals for investors and collectors.

According to the Los Angeles Business Journal, in 2009, Goldline had more than 300 employees and sales revenue of $825 million which the newspaper said made it the “6th fastest growing company” in Los Angeles County, California; for 2010, Goldline later sold its assets in 2017 and ceased business as a precious metals dealer.

Goldline advertised through various marketing channels, including the Internet, radio, and television.

Former Director of the United States Mint and Democratic Congressman Jay W. Johnson was Goldline’s television spokesperson from June 2009 until his death in October of that same year.

John Mercanti, the retired 12th Chief Engraver of the U.S. Mint, was also a Goldline spokesperson.

Goldline’s television advertising included cable networks such as CNN, CNBC, Fox News, History International and Fox Business.

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