Magazine content is available exclusively for TIME subscribers.Fool's Gold
Maybe $100 million worth
"You wanta buy some gold, but don't have a safe place to keep it? No problem. Send me money and I'll buy the gold and store it for you. Whenever you want it, just ask."
The actual radio sales pitch, broadcast for two years in California and for a few weeks in New York, was a shade more sophisticated than that. But, in essence, that was the offer of Los Angeles Gold and Silver Dealer Alan David Saxon. Would anyone grab at such a flimsy deal? Some 35,000 investors, dazzled by the lure of precious metals as a...
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