In areas with a high concentration of senior citizens, investment frauds are usually carried out on a hit-and-run basis. These scams may involve the selling of coins, oil and gas leases, precious metals, and gemstones. The caller will flatter you as a "smart investor" who can recognize a good deal, then confide that if you sign up quickly you can get in on a great "opportunity." Remember these salespersons are professionals and gifted at getting people to believe them.

Also, consider that there are fees in most legitimate investment markets for every transaction--when you buy and when you sell. These fees can add up, especially if you have given your permission to automatically negotiate if the market seems to be changing. When someone calls with an investment opportunity, get the name, address, and phone number of the company. Request references and written materials. Always read carefully any forms before signing. Check with the Better Business Bureau, the Bureau of Consumer Protection, or perhaps the securities dealer at your bank or investment firm.