Gold coins under melt?

[FriscoT06]

Found this ad in the mail today. At $115, aren't these UNDER melt? How? Is there a trick?

 

[Turbo21]

Under melt today. But maybe not tomorrow

 

[tabman]

If it sounds to good to be true, it is.

tabman

 

[Aeroboy]

Too good to be true, I agree. I remember the TV ad for Morgan Dollars which were “acquired from the US Mint” and being sold by one of these collectable coin places... and they advertised a “limited number available” and said it was, I think, in the 4,000 range. How long could it take to sell 4,000 Morgans? If they were $30 in near mint state, probably not long.... yet... .. I saw that TV ad run for years and really think it was a scam somehow. 4,000 morgans isn’t many. And TV media is very expensive.

 

[Gridwalker306]

I had a relative get sucked into buying "unsearched Buffalo nickels from the vaults of the US mint". Could be some uncirculated key dates right?

Nope. Tiny bags of dateless worn out nickels sold for 50 times their real value.

 

[sgtled3533]

It is $115 (probably plus tax and S&H) for a ONE TENTH OF AN OUNCE COIN!! In the picture it hides the part that says "1/10th" on the reverse. Today, gold price is $1229 an ounce. Divide that into tenths, and you got $122.90. That is pretty close to $115....and again, I'm sure there's some kinda other fee. Nobody sells gold for less than spot price. If so, it ain't legit..

 

[Turbo21]

It is $115 (probably plus tax and S&H) for a ONE TENTH OF AN OUNCE COIN!! In the picture it hides the part that says "1/10th" on the reverse. Today, gold price is $1229 an ounce. Divide that into tenths, and you got $122.90. That is pretty close to $115....and again, I'm sure there's some kinda other fee. Nobody sells gold for less than spot price. If so, it ain't legit..

That's what I posted above


It does say at the bottom. Minimum purchase 5 coins

 

[FriscoT06]

So is this somehow not gold? Or do you think they'll make me buy 50 magazine subscriptions as part of the 'deal'?

 

[tabman]

Someone needs to make the call to get the WHOLE story.

tabman

 

[Jason in Enid]

you all didn't look at the coin very close did you. the mint date was 1992. Gold was like $380 an ounce then. They are still making about 4 times what they were originally purchased for.

Plus, I bet they jack up the S&H to match at least whatever current spot price is.

 

[smokeythecat]

And if you can't read ALL the fine print, don't do it. You might get 50 or MORE subscriptions to things you don't want.

 

[sjvalleyhunter]

The Better Business Bureau has 29 complaints against the company, many of which stem from the customer getting a hard sale to buy different, obviously more expensive, products. One of the comments also said that the shipping charge was a steep $40.

https://www.bbb.org/houston/busines...in-houston-tx-90016124/reviews-and-complaints

 

[wingmaster]

Make sure it's not one of those gold plated copies, they only have milligrams of gold but they do say later in the TV spot that it's clad in gold. The first one they show is the real thing the second is the clad copy, they also talk about gold prices and I'm sure a lot of people think their getting real gold coins.

 

[seekerGH]

Currently on the website, the coins are listed at $120 each....(min 5)

Whenever that was printed, it may have been valid...

Looks like many of the complaints are they try to sell you different coins, so stick to your guns if you want these. Nothing on the cost for shipping on the website.

 

[Echoplex]

It's not a scam. Most likely there will be two things that come with the order: First, a "shipping, handling, processing fee", which could be very high (for example $14.99 per coin). Second, they could make money by selling your personal information to coin/bullion companies like Govmint, who could spam you with robocalls. I find that coin/bullion companies that run these ads and robocall seem to prey on the uniformed or elderly. Not cool, but not illegal...

Go to your LCS and buy a 1/10 AGE today for ~$130 instead, and don't risk all the BS that comes with these types of ads.

 

[CRUSADER]

No idea if I'm right but they have started gold plating many of the British modern collectible coins??

 

[FriscoT06]

Not gonna buy em, i prefer to find stuff underwater/in the ground, or at yard sales..... Just thought it was interesting that they would sell under melt. But it makes sense from your comments, they may have bought it when gold was cheap, and shipping may be 40 bucks plus other perogatives. Thanks for the thoughts guys!