When to NEVER buy a gold coin.

topstuf

If it is in a plain flip. No writing.....no nuttin. Just layin there in a PLAIN flip.

Plain flips allow MUCHO wiggle room for any seller of counterfeit gold.

Even a 2x2 with the seller's writing on it is better than nothing.

But.....AVOID....the plain flip.

(Strange as it seems, a PILE of circ gold is ....usually ....... going to be all right. But that plain flip....RED FLAG!

nwcs

I'd go a step further and say if you're not good at identifying gold counterfeits always buy a slab from one of the big three. Crack it out if you want to afterwards, but that's a far less risky way to get a genuine classic gold coin.

rd5425

Never buy raw, there are too many counterfeits coming out of the middle east that can pass a cursory inspection but turn out to be fake

darktone

If you know and accept the risks of buying raw gold I say go for it but if you are unsure of the risk and can't accept getting a bad coin once in a while then I would stick to certified stuff by PCGS, NGC, and ANACS. mike

clw54

Buying only certified gold sounds like good advice.

jom

Not buying raw gold is good advice but you should try to learn as best you can how to detect fakes. With slabs we often forget to actually LOOK at the coins we are buying given we are so dependent on the slab.

jom

foodude

I would never buy a raw gold piece, other than from I dealer I known was reputable and knowledgeable (i.e., they can spot the fakes) without seeing the coin in person. There are a number of fakes around. Most that I have seen or heard about were made in the 60's and 70's. They are easy to spot with a little education (one of the first I encounter was a gold piece, and it matched the ANA description and pics to a T; unfortunately one of my earlier coin collector mentors had bought it). The ANA has published excellent descriptions of specific fakes, as well as the typical characteristics of the fakes. The PCGS grading book also has an excellent section. I have found that in then order of difficulty, detecting counterfiets and altered dates and mint marks is relatively easy. Grading is next on the difficulty scale( assuming that the coin has not been doctored). Doctored coins, beyond the the chatchet jobs, tend to be the most difficult part to deal with. Unfortunately some of the doctors work is very good. From my experience, PCGS tends to be the best at detecting their unsavory work.

jcping

> When to NEVER buy a gold coin

Mmmmmm ..... when grading services cannot tell whether gold coins are real or fake (I would say 50% of time)