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RISKS DISCLOSURE

Bedford Investment Partners assists investors, collectors and current clientele with a full range of commodities, precious metals, and numismatic coins. Our job is simple we will try our hardest to mitigate the risks involved and try to increase potential profits profits. We also provide information to the prospective clients to help them make their own decision. Our website contains helpful information of the products that we offer and are looking to acquire.

When acquiring products from Bedford Investment Partners clients have the option of taking prompt delivery or storing their acquisition with a third party storage facility (some restrictions apply).

Please understand that there are risks to all investments and this certainly includes the purchase of bullion and rare coins. The value of bullion and numismatic coins are greatly affected by many economic factors, including the current market price denominated in your currency and the perceived scarcity of the precious metal, the current demand and general market sentiment. Other factors, such as the futures market, banks and governments can affect the price of physical bullion and numismatic coins, significantly. Because bullion and numismatic coins can decrease as well as increase in value, an investment in bullion and numismatic coins may not be suitable for everyone. Since all investments, including bullion and numismatic coins, can decline in value, you should have a firm understanding of the commodity, precious metals and numismatic coins markets. Please have adequate cash reserves before considering an investment in commodities, physical bullion and/or numismatic coins.

Conduct your own due diligence before you acquire precious metals, numismatic coins and/or commodities from any firm including Bedford Investment Partners.

RISK FACTS AND POLICIES
DIVERSIFICATION
Precious and industrial metals and Numismatic coins should be in our opinion part of every clients portfolio. (Whereas commodities are mostly played on a futures basis where we only advised clients on where to purchase, locate, store and possibly resell.) We believe for investors and speculators should have 5% to 10% in Numismatic Coins and Precious metals in their current investment portfolio. It is our belief only! Certain organizations and individuals may recommend a different percentage that is why it is always best to first consult your independent financial advisor before purchasing.

HOLDING PERIOD
We believe that every investment should be held for the long term 3 to 5 years especially if you are purchasing numismatic coins or precious metals. The period you hold is entirely up you and what you want to get out of the market. Any specific holding period is subject to current market conditions, which are subject to fluctuation, which in fact may require you to hold for a longer or shorter period

OUR PRICES
Our prices are set internally, based upon our own analysis and opinion of a variety of factors. We are not tied to prices set by other organizations as prices are subject to current market conditions. We will do everything in our power to provide the best price possible for our clients. Bedford Investment Partners will sometimes acts as a dealer and will own the coins or precious metal in inventory in an effort to provide the best prices to the public. We are here to make a profit as well. The other times we hunt down the product you want contacting the over 20 dealers that we speak with to make sure that we reach your price target on that specific item.
To understand the Bedford Investment Partners Pricing here are definitions that are commonly used.

ASK
The ask price is the price at which Bedford Investment Partners sells the product to the their customer. Otherwise known as the selling price

BID
The bid price is the price Bedford Investment Partners pays to purchase your coins and other precious metals from it member and the general public. The bid price is also known as the buyback price, Please see the section below entitled Liquidation/ Buyback policy for additional information. We will outsource to get you the best price available.

SPREAD
The spread refers to the difference between a coin/precious metal's ask price and its bid price. The spread is calculated by subtracting the bid price from the ask price and dividing the difference by the ask price. If the spreads or percentage that a bid price must increase for a coin or precious metal to break even differs from the stated amounts. Bedford Investment Partners shall disclose such differences at the time of order is confirmed. If you choose to sell with Bedford Investment Partners we will try to get you the best price available but you will pay 1% to handle such transaction for a liquidation fee.

LIQUIDATION & BUYBACK POLICY
When you decide to sell your coins or currency, we appreciate the opportunity to purchase them at our current bid/buyback price that we offer. Although you are free to sell to other coin dealers and bullion dealers, we believe it is likely that you will receive a higher net amount by selling to us. We are familiar with the quality and marketability of the items we sell and do not charge any additional fees or commissions other than the 1% liquidation fee.  Depending upon market conditions and your original purchase price, you may receive less than what you paid for the coins and currency.

The law prohibits us from guaranteeing to repurchase the coins or precious metals we sell. Therefore, our buyback policy is not a guarantee and is subject to change without notice.  It is our policy to offer to repurchase coins and/or precious metals sold by us at our current bid/buyback price. A lower bid price is generally offered for products not originally sold by Bedford Investment Partners. While our company is not obligated to do so, we continue to make a market for the coins we sell through the dealers that we deal with.

Liquidation requests may be made to your Executive or by calling us 800-xxx-xxx. You may also contact us at info@Bedfordinvestmentpartners.com

All metals/coins/currency should be sent U.S. Postal Service (registered, insured and return receipt requested). Please contact Client Relations or your Executive for Bedford Investment Partners packaging and address requirements prior to sending any precious metals, numismatic coins or currency to Bedford Investment Partners. Please see the section below entitled Liquidity for more information regarding the sale of precious metals, numismatic coins and rare currency.

DELIVERY
All packages shipped to our clients are insured (shipments of less than $1,000 are self-insured).  Your acquisitions will be delivered within twenty-eight (28) calendar days of receipt of good funds (unless your State requires a different delivery period). If a shipment is lost or damaged prior to delivery at your shipping address, Bedford Investment Partners will, at Bedford's option, either replace the items or refund your purchase price. Please inspect the shipment thoroughly upon receipt to ensure you have received your order, and that the items track the description on your delivery invoice.  Any variance from your order must be reported within five (5) calendar days of receipt of your shipment, and you must have all original packing materials intact. Any claim beyond this time period may be denied. Bedford Investment Partners may charge a shipping and handling fee for shipments, including shipments to independent IRA custodians.  The amount of this fee, if any, will be identified at the time your order is confirmed.

STORAGE
Bedford Investment Partners stores client holdings in a depository of its choice and may change depositories without prior notice. Bedford Investment Partners may co-mingle your holdings with those of other clients and acknowledges that you own a specific, but undivided interest in such holdings to the extent of the quantity and type you have purchased. A fee is charged for storage. Details and limitations can be found in Bedford Investment Partners 's Account Agreement.

CREDIT CARD PURCHASES
Bedford Investment Partners accepts payment by credit cards as a convenience to its clients. However, we believe that you should not go into credit card debt to make a purchase.

RISK
All investments involve risk and coins, precious metals and bullion are no exception. The precious metals, numismatic coin and rare currency markets are speculative, unregulated and volatile, and prices for these items may rise or fall over time. Bedford Investment Partners generally classifies coins as bullion, semi-numismatic and numismatic. Some coins may fall within more than one category, depending on their specific grade or condition. Other dealers and organizations may define these terms or classify these coins differently.

The price of a bullion coin (e.g., Canadian Maple Leaf or South African Krugerrand gold coins) is largely determined by the current spot or market price of bullion. This price fluctuates throughout the trading day.

The price of a semi-numismatic coin (e.g., Swiss 20 Franc, French Rooster and British Sovereign) is based upon the precious metal content, along with a premium based upon different factors such as supply and demand. The price fluctuates throughout the trading day principally due to changes in the spot or market price of the precious metal.

The price of a numismatic coin is determined by multiple factors which can and do fluctuate independently from bullion prices.  These factors include: the perceived scarcity of the coin, its quality, current demand, market sentiment and economic factors.

Coins generally have a premium above their precious metal value, with bullion coins usually having the lowest premium, and other coins having higher premiums. Premiums may increase or decrease based upon current market conditions such as supply and demand.  Changes in premiums may affect a coin's pricing beyond changes in spot prices.

Precious metals, numismatic coins can go down as well as up in value. These items may not be suitable for everyone. Bedford Investment Partners does not determine the suitability of any specific person to purchase precious metals, numismatic coins or rare currency. You should consult with your independent financial advisor regarding whether such an investment is right for you. You should not acquire any products from Bedford Investment Partners if you are not competent or qualified to make your own financial decisions.  You should obtain a thorough understanding of the coin and bullion products before you acquire these products as a collector or investor.

The investment value of precious metals and numismatic coins depends in large part on the price you pay. If you are acquiring any of Bedford Investment Partners 's products as an investment, you should evaluate its current market value, potential for appreciation and liquidity, and consult independent sources regarding these factors.  Bedford Investment Partners does not guarantee that any client will be able to sell precious metals or numismatic coins at the original purchase price or a higher price in the future.
Since numismatic coins, and precious metals can decline in value, you should have adequate cash reserves and disposable income before considering acquiring coins, currency or precious metals.
We believe you should not acquire precious metals with funds generated through early withdrawal from accounts or securities which may result in substantial penalties or fees. You should consult with your independent financial advisor before disposing of any security, annuity, Certificate of Deposit or other investment to acquire numismatic coins, currency or precious metals. Bedford Investment Partners is not responsible for any changes in tax laws or other statutes which may affect any profit or salability of your coins or currency.

EXCHANGE TRANSACTIONS
Bedford Investment Partners does not recommend exchanging precious metals or numismatic coins (trading one coin or currency for another) unless you fully understand the costs involved in the buy and the sell transactions. Among other things, you should consider the spread for each item involved in any exchange transaction (since you must overcome both spreads before you make a profit), and any potential tax consequences of the exchange. We believe no one can tell with certainty that one product is going to outperform another. You should independently decide whether this type of transaction is appropriate for you.

REFUND POLICY
For your protection and convenience, Bedford Investment Partners provides Clients with the right to a refund on their first order of coins and currency without any reason whatsoever (this refund policy does not apply to orders for 90% silver dimes or quarters, one ounce or larger bullion bars and one ounce bullion coins). To receive a refund, the client must notify Bedford Investment Partners of his or her cancellation of their first transaction within seven (7) calendar days from the date of order. By way of example, if a client's first order is placed on May 1, the client may cancel the order up to and including May 8.  Notices of cancellation may be provided by speaking directly with an Executive; calling Client Relations at 800-XXXXXXX; via U.S. Mail at 324 Jay Street Katonah New York; facsimile at xxx-xxx-xxx; or email at compliance@BedfordInvestmentPartners.com. All notices of cancellation must be provided no later than the last day of the refund period.  All other transactions are final upon confirmation by a Bedford Investment Partners representative and are not subject to cancellation.  (Your state may have additional refund and cancellation rules which supersede Bedford Investment Partners 's refund policy above. Please consult Bedford Investment Partners 's Account Agreement as well as the terms and conditions set forth on the back of your trade confirmation for specific rules which may apply to your purchase.) If you do not pay for your order and do not have a right to cancel, Bedford Investment Partners may, at its option, liquidate a portion of your stored holdings and apply the proceeds to your unpaid order in accordance with Bedford Investment Partners 's Account Agreement. In addition, Bedford Investment Partners may not repurchase your coins or currency.

CONCIERGE
Bedford Investment Partners 's Client Relations team members are your personal concierge and are available to answer any questions or concerns you may have. In addition to speaking with your Executive, you may also contact compliance regarding refunds, liquidations, concerns or complaints. You can reach a compliance at 800-xxx-xxx or via email at compliance@Bedford InvestmentPartners.com.

EXECUTIVES
The Executives at Bedford Investment Partners are generally commissioned salespersons. Their commissions are usually greatest on products with a 28% spread and lowest on products with a 13% spread.  Their work experience, knowledge, background, and training vary widely. They and/or Bedford Investment Partners may receive, from time to time, undisclosed compensation for selling specific coin or currency products (including but not limited to contests, cooperative advertising, and trading profits in coins that they may own and/or sell). Bedford Investment Partners 's employees are not licensed as investment advisors and, accordingly, do not make any recommendations regarding client investments. The only products which Bedford Investment Partners employees are authorized to sell are the products specifically sold by Bedford Investment Partners . Check with a licensed professional with expertise in a particular market before making a decision to buy or sell any metal, security, bond, annuity or financial instrument.   Further, Account Executives are not tax advisors and may not provide any advice regarding taxability, tax rates or related issues for any product Bedford Investment Partners sells. You should consult with your tax advisor regarding any questions about the tax implications of buying or selling bullion and numismatic coins.

LIQUIDITY
Of the products that we buy and sell, bullion and bullion coins generally are more liquid than semi-numismatic coins; and semi-numismatic coins are more liquid than numismatic coins. Bedford Investment Partners may not provide a bid or buyback price on certain collectible coins. Sometimes, because of its market influence, when Bedford Investment Partners reduces or stops selling certain coins, their price may drop.

GRADING AND WARRANTIES
Our company uses the numerical Mint State (MS) grading system, which rates uncirculated rare currency and uncirculated coins from MS-60 to MS-70. Typically, the higher the grade, the more a coin or currency is worth. The grade assigned to a coin reflects its strike, luster, marks, scratches, and overall eye appeal. Grading is a subjective art and subject to the opinion of the person grading the coin or currency.  Thus, grading can and does vary from numismatic coin firm to numismatic coin firm, from grading service to grading service, and from expert to expert.  A difference of one grade (e.g., MS64 to MS65) can result in a significant change in the valuation of a numismatic coin or currency. Grading standards may continue to change, becoming more or less stringent. Grades and descriptions of numismatic coins and currency are opinions, not statements of fact or guarantees, and are based on standards and interpretations that can and do change over time.

When you acquire a coin or currency from Bedford Investment Partners that is independently graded by a third party grading service such as Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC), Bedford Investment Partners relies entirely on the expertise/determination of the grading service. In addition, we rely upon definitions provided by these independent grading services, including definitions of such terms as PCGS' "First Strike®" which refers to coins packaged and delivered by the U.S. Mint in the thirty (30)-day period following the initial sales date of a new product.  We do not re-grade or independently evaluate the product's grade in its sealed holder, although from time to time Bedford Investment Partners does remove products from their sealed holder and re-submits them to the grading services.  Bedford Investment Partners reserves the right to deliver independently graded coins that have been graded by an independent grading service of Bedford Investment Partners 's choice such as PCGS or NGC. Bedford Investment Partners guarantees that the numismatic coins and precious metals it sells are genuine. Bedford Investment Partners expressly disclaims any other warranties with respect to coins or precious metals, express or implied, including the implied warranties of merchantability and fitness for a particular purpose.  See our Account Agreement for a full disclaimer of warranties.

GROWTH PROJECTIONS
Bedford Investment Partners may inform clients about forecasts made by third parties regarding the future prices of precious metals or numismatics sold by Bedford Investment Partners. In noting these forecasts, Bedford Investment Partners will normally consider the following factors:

Past  performance: While past performance  may  be  a  useful guide,  it cannot guarantee future results. We frequently infer that if numismatic coins or precious metals made gains under certain economic conditions in the past, they have the potential to appreciate when similar conditions exist in the future.

Economic forecasts: It  is  impossible to  predict future  price trends or economic conditions. However, we believe trends may be a useful guide in  evaluating  the  future potential for numismatic coins and  precious metals.

Supply  and  demand:  We believe  that  fundamental  market forces  will generally prevail.

There is no assurance that any growth projection will be achieved, and it is also possible for prices to decline. We do not guarantee any forecast or projection, but we strive to provide you with analysis that we believe is well- reasoned. You should also know that different market factors may influence the price of a specific coin or currency. For example, the price of a numismatic coin may be affected by such factors as grade, scarcity and demand in the marketplace, while the price of a bullion coin is closely tied to the spot market for that coin. Past performance and growth projections for a specific coin or type of coin (or currency) may not apply to other types of coins that Bedford Investment Partners may offer.

ACCOUNT AGREEMENT
Bedford Investment Partners 's Account Agreement sets forth the terms and conditions of your transactions with Bedford Investment Partners . Please review this agreement carefully before you sign and return it to Bedford Investment Partners . For your convenience, you may review the Account Agreement online at www.BedfordInvestmentPartners.com.

FOR YOUR PROTECTION
Your privacy is important to us. If at any time you no longer wish to be contacted by a Bedford Investment Partners representative, please call or write to us and ask to be placed on our Do Not Call list. If at any time you receive information that is inconsistent or contrary to the information contained in Bedford Investment Partners 's Account Agreement, you should immediately contact Bedford Investment Partners 's Client Relations Department at 800-xxx-xxx. Please do not proceed with any transaction until your questions or concerns have been fully answered. Please make all payments payable to Bedford Investment Partners, LLC. Please do not send cash. Your payment options are as follows: bank wire, cashier's check, personal check and credit card. Please do not send money orders or traveler's checks. Please promptly notify us in writing if you change your address, and include a signature guarantee or notarized letter, along with a copy of your driver's license or utility bill. Be sure to include your account number and to sign all correspondence. For account title changes (e.g., trust or business account), please contact your Executive or Bedford Investment Partners 's Client Relations Department at 800-xxx-xxx This risk/disclosure is updated periodically. It is the responsibility of the client to keep up-to-date by either requesting a copy, or by checking our website at www.BedfordInvestmentPartners.com.

MONITORING/RECORDING OF CALLS
Telephone calls may be monitored and/or recorded in an effort to assure quality control and policy compliance. Thus, when speaking with a Bedford Investment Partners representative, you understand and agree that every telephone conversation between you and Bedford Investment Partners – whether you place a call to Bedford Investment Partners or a Bedford Investment Partners representative calls you – is subject to monitoring and/or recording. You agree and consent to have your calls with any Bedford Investment Partners representative monitored and/or recorded without further notice or the requirement of additional consent or agreement from you. You consent to monitoring and/or recording of your telephone conversations with any Bedford Investment Partners representative by appropriate Bedford Investment Partners personnel and authorized outside third-party monitors. You acknowledge that you do not have a reasonable expectation of privacy during any of your telephone conversations with any Bedford Investment Partners representative. You further understand and agree, with respect to the potential monitoring and/or recording of all of your telephone calls, that you expressly waive the right to assert at any time that any conversation between you and any Bedford Investment Partners representative are or were confidential or private. Unless otherwise agreed by Bedford Investment Partners in writing, Bedford Investment Partners does not consent to the recording of telephone conversations by you or any third party. You understand that not all telephone lines or calls are recorded and Bedford Investment Partners does not guarantee that any recordings of any particular telephone calls will be retained or be capable of being retrieved.

SUMMARY
We strongly recommend that you acquire a sound understanding of precious metals, coins, and their markets before you make your first purchase. Be prepared to invest some time and effort into understanding the market and the grading of your coins or currency. Do not commit more than 5% to 20% of your investment funds to numismatic coins or precious metals. Manage your future with a diversified portfolio that meets your objectives for safety, liquidity, and growth. Be prepared to hold your coin, bullion investments for a minimum of 3 to 5 years, recognizing that all markets have their ups and downs. Perform your due diligence and let reason and common sense be your guide.