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Almost made a $400 PM mistake today.

DNADaveDNADave Posts: 7,271 ✭✭✭✭✭
edited February 25, 2022 4:07PM in Precious Metals

I had quoted a seller 200 a piece for two 1/10 ounce gold pieces. This is what came out at the sale. Not something I’ve seen before and a quick search shows eBay sales up to about $230 and lower. Much lower. These are about 1/40 ounce gold but a lot of folks are getting ripped on them.


Comments

  • derrybderryb Posts: 36,818 ✭✭✭✭✭

    1/10 oz .24 gold. lol

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rte592rte592 Posts: 1,668 ✭✭✭✭✭

    Hey now, you had quoted a seller 200 a piece for two 1/10 ounce gold pieces...that's a 10th ounce gold piece. :(
    Pay the man :o

    Just pulling your chain...
    These are definitely made to deceive.
    .24 fine gold.

  • RobMRobM Posts: 552 ✭✭✭

    Neither Tuvalu nor Cook Isalnds even mint any of their own coins. Many are made at the Perth Mint so at least they look nice. The 0.24 pure gold in this case obviously intended to fool mericans into thinking it is 24 karat gold instead of the actual ~6K gold. Not to mention the irony of putting the queen on top of the liberty bell.

  • PerryHallPerryHall Posts: 46,132 ✭✭✭✭✭

    The Federal Trade Commission requires gold to be at least 10K to be legally called "gold". There's not enough gold in that coin to consider it to be gold. It's a copper coin alloyed with a little gold. To call that coin "gold" is considered to be fraud in this country.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • blitzdudeblitzdude Posts: 5,891 ✭✭✭✭✭

    The reddit crew have been buying these off eBay like hotcakes. As they say, a fool and his $$$ are soon parted.

    The whole worlds off its rocker, buy Gold™.

  • RobMRobM Posts: 552 ✭✭✭

    https://forums.collectors.com/discussion/1036727/misleading-cook-islands-gold-coins

    Looks like this was a relatively recent forum discussion as well.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Definitely misleading for the people with little to no experience. Cheers, RickO

  • WeissWeiss Posts: 9,941 ✭✭✭✭✭

    Wow. That is really devious. What an intentionally misleading and dirty thing to do. :s

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • Namvet69Namvet69 Posts: 8,970 ✭✭✭✭✭

    No consolation that the decimal point is there cause it's design oozes deception. Peace Roy

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  • Dug13Dug13 Posts: 257 ✭✭✭

    Does anyone how these register on a Sigma Analyzer?

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