Two Queens men are charged with selling fake gold coins on Craigslist

[jeff of pa]

COLONIE -- Colonie officers arrested Sungwook Hong, 33, of Fresh Meadows and Yohann Pyon, 26, of Bayside after the men allegedly tried to sell phony coins to an undercover investigator, police said.

The department first learned about the coin sales May 28 when a victim reported answering a post on Craigslist offering 1-ounce American Gold Eagle coins for sale.

Two charged with selling fake coins - Times Union

 

[jim4silver]

COLONIE -- Colonie officers arrested Sungwook Hong, 33, of Fresh Meadows and Yohann Pyon, 26, of Bayside after the men allegedly tried to sell phony coins to an undercover investigator, police said.

The department first learned about the coin sales May 28 when a victim reported answering a post on Craigslist offering 1-ounce American Gold Eagle coins for sale.

Two charged with selling fake coins - Times Union

From my calculations, each one ounce gold eagle was bought for $1167 (12 coins for $14,000). Why on earth would anyone advertise a gold ASE for that much less than spot when they can sell (real AGEs) almost anywhere for spot. They pay well over spot for them locally. If someone offered me those coins for that price I would think the coins were stolen or fake. It seems like in most stories like this the deal is just too good to be true.

Just from the two close up photos the coins look pretty bad, almost like circulated Saints.


All just my opinion.

Jim