Chocolate Gold Coins?

ProofArtworkonCircs

There was a very strange ad on the financial channel today. Somebody was pushing a government release of gold coins at less than $100 each.

That would have to be 1/10 ounce pieces at that price, which still seems too low for current conditions. They then showed a tray of gold which they stated was $50,000 dollars worth. These looked like one ounce size. The announcer then picked up handfulls and let them drop from his fingers at quite a height. I can only imagine thousands of dollars worth of damage being done. However what I could see of the coins looked like foil wrapped chocolate pieces to me. (Hey, maybe that is why they can sell them so cheap.)(LOL).

mkman123

maybe part gold and part some other metal?

FullStrike

Chocolate Money vs Paper Money? Got to be a wiener. You could actually eat your coins in a pinch. Paper money - well you could use it to wipe... or burn it for a bit of warmth.

konsole

I've seen that commercial a bunch of times. I wouldnt touch that offer with a 100 ft. pole. Notice the constant ringing of phones in the background to make you think that everyone wants in on this deal?

VikingDude

I saw that too on Sunday morning. I actually watched for over 10 minutes. $92 and they never said a weight or size.

But they did say "imagine what these could be worth if gold goes over $2,000 an ounce"!

MoneyLA

Im going to guess that these are the 1/10 ounce American Eagles, but they use the one ouncers on the TV commercial.

now the question is, what do they tack on to the order? shipping and handling is how much? do they limit your purchase to one coin, and then try to sell you one ouncers at the higher premium?

Ive been tempted to call, and maybe now I will just to find out.

but if someone beats me to it, please post your experience here.

thanks

jmski52

I saw that commercial too. I've got enough problems in my life than to start dealing with someone like those hucksters.

RedTiger

I have not seen the commercial. Many companies sell a promotional item at cost or even slightly below cost to attract new customers. In the case of TV and magazine teaser ads, once the customer is signed up, they start pitching high margin products.

I don't know what the case is for this commercial. However, even if the offered deal is a decent one, subsequent deals are often priced high enough to make money to pay for their TV time or magazine ads.

MoneyLA

I called and here is their deal:

there is a limit of TEN of the one=tenth ounce American Eagles.

The price is indeed $98 per coin. There are no markups.

They charge $31 for shipping and handling.

Delivery with a credit card payment in five to seven business days.

Now the catch: they try to sell you certified and graded gold and silver... Eagles and some numismatic gold. They also want to sell you one ouncers.

so total price for 10 one tenth ounce American Eagles is $1011 and change.

what do you think??

Deadhorse

It's not too far out of line for their leader ad. I've seen many worse.

The hassles of dealing with the pressure salesman may not be worth it.

I can buy them for less locally.

Having said that, many people don't have the luxury of competitive local shops.

I'd imagine they will sell plenty of them and enough on the followup to justify the ads.

jmski52

I watched the ad more carefully today while they were letting those coins fall out of his hands and into a heap on the table. They do appear to be 1 ozers.

Scuffed and dented 1 ozers, but 1 ozers nonetheless.

MoneyLA

yes, they are showing one ouncers on the TV commercial, and there is no doubt about that.

however, there is a shot of gold coins stacked up, and based on the width of those coins they might actually be 1/10 coins stacked up.

but that doesnt matter.

the reality is they are selling 1/10 ounce eagles, at $98.

the best price I got today from local brick and mortar stores was $115 each.

online the price varies from 123 to 125 each.

the real question is --- will they really deliver in 5 to 7 days??

their shipping charge of $31 I think is reasonable, with NO other charges or markups.

the shipping adds $3 to the price of each coin and makes them $101 each.

Deadhorse

Ouch!!

$97 each here locally.

MoneyLA

where are you, and who is selling at 97 locally?

I just checked some more B&M stores here in Los Angeles and got prices ranging up to 130 each.

frankly, your local price of 97 each vs the 101 with shipping that the TV company is charging are a wash to me. I dont have to leave my house.

but again, the question and issue is ACTUAL DELIVERY.

Deadhorse

I am in Houston, Texas.

That isn't their regular price to people that just walk in the door.

I've had a long standing relationship with them over many, many years.

I juat called them when I read you post and asked, price to me was $97

Delivery is no problem here, I just need to make a 20 minute drive.

They will be there tomorrow, I was told they had 37 of them, various dates.

Fractional gold is about all they have, nearly all one ounce pieces are long gone.

MoneyLA

I had a friend just place an order with the TV company.

He got the ten 1/10 ouncers at the same price, with shipping $1011.

but he had to listen to a sales pitch for pcgs ms70 slabbed modern gold at prices that were about double what the same pieces are selling for on ebay.

after several "no thanks" the sales person thanked him for his order for the 1/10 ounce coins.

again, the limit is ten coins. delivery is five to seven business days.

let's see what happens.

MoneyLA

this is a follow up. I checked with my friend who ordered the ten gold coins. he was promised delivery in five to seven working days. the coins have not arrived. his credit card has been billed. if the coins do not arrive when his credit card payment comes due, he will dispute the charge.