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Advice need re: 50 dollar buffalo

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New Member
United States
19 Posts
 Posted 12/29/2009  01:13 am Show Profile Bookmark this topic Add Affirmation to your friends list Get a Link to this Message

Not sure if I should post my question here for this but I just saw this on t.v. Do you think this is a wise investment? I'm very tempted but wanted to run it by others that are more informed than I am. Thank you so much. ~ Alison

https://www.50dollarbuffalo.com/

New Member
United States
4 Posts
 Posted 12/29/2009  01:19 am  Show Profile Bookmark this reply Add Wanderermy to your friends list Get a Link to this Reply
Those are fake worth as much as a piece of toilet paper.

These are real ones: http://catalog.usmint.gov/webapp/wc...49&langId=-1
Edited by Wanderermy
12/29/2009 01:20 am
Pillar Of The Community
United States
1648 Posts
 Posted 12/29/2009  01:48 am  Show Profile Bookmark this reply Add ratman4762 to your friends list Get a Link to this Reply
These people prey on the unknowledgable. They make a basically worthless item sound impressive in hopes of selling them to well meaning relatives of coin collectors who turn around and give them to the collector as a present. I hate to see people waste money on stuff like this with NO numismatic value.
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168 Posts
 Posted 12/29/2009  06:01 am  Show Profile Bookmark this reply Add Ferret552 to your friends list Get a Link to this Reply
Wow... a tribute clad proof. That is totally worthless.
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387 Posts
 Posted 12/29/2009  06:22 am  Show Profile Bookmark this reply Add tnwalker10 to your friends list Get a Link to this Reply
Have you noticed when they show the reverse it's only shown very briefly? They try to keep the word "copy" from being seen.
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461 Posts
 Posted 12/29/2009  07:26 am  Show Profile Bookmark this reply Add hemisboats to your friends list Get a Link to this Reply
That is absolutely sickening! Companies like this should be run out of business immediately. I just met with the woman two days ago who had been given these types of things to her by her aunt over and many year period. Most of them were originally purchased through the biggest scam outfit called "the Morgan mint" and were absolutely worthless!

Everyone should e-mail, call or send a written letter to the consumer protection agencies in their area to stop this leech like bloodsucking of mostly elderly folks.

Hope my extreme agitation over these criminals did not cause me to get too crazy!
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United States
2492 Posts
 Posted 12/29/2009  08:20 am  Show Profile Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
I saw those last night. They are "clad" in 31 milligrams of gold. Take the money you would spend on these and go get a box of cents from the bank. You will be much better off.
Pay your taxes! 12 million illegal immigrants are depending on it.

"A government big enough to give you everything you want, is big enough to take away everything you have."
Thomas Jefferson

Oldest Circulation Find ----- 1897S Barber quarter
Oldest Detector Find -------- 1803 Large cent


Edited by Tim Stroud
12/29/2009 08:21 am
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 Posted 12/29/2009  10:07 am  Show Profile Bookmark this reply Add Neil to your friends list Get a Link to this Reply
How in the world do those people sleep at night?
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 Posted 12/29/2009  10:22 am  Show Profile Bookmark this reply Add Brian Mc to your friends list Get a Link to this Reply
They sleep at night because they have no conscience!
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 Posted 12/29/2009  11:16 am  Show Profile Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
If anybody thinks they can buy an ounce of gold for that price......well.......I'll just say, folks should do a little research BEFORE making certain purchases !

I too have been seeing this commercial on tv. My fiancee' and my mom have both commented that they've "seen my gold Buffalo on tv selling for an incredible price !".......good grief ! ....
I had to explain that my two gold 2006 Buffs are S.O.L.I.D. 1oz. gold minted 100% by the United States Mint. And that you couldn't possibly pay less than $50.00 for one of these ! They're even worth more than "spot price" gold !
It's yet another way for snake oil salesmen to make money off the real thing....perfectly legally. You get exactly what they say you'll get.....but OH MY GOODNESS !

Through the past couple years, I've seen these in magazines too.....they do tell you (and you can see) that it's only a copy....but....it's still disconcerning to me.

"Layered" in gold, or platinum, or silver, or anything else, when you're talking about a coin.......is NEVER a good thing.....and will always be overpriced, and is NOT a wise investment, or a good addition to any coin collection, at any price.

It might look "neat"......but it's never going to be worth anything to anybody.....IMHO.

I understand the desire to have a cheaper "copy" of the real thing, if one can't afford the real thing.....but it's not a good idea.

Older coins can be represented this way.....and displayed proudly (with some copies even having some value) in a collection, but this Buffalo thing seems very "seperate" to me.
Edited by eaglefoot
12/29/2009 11:21 am
Valued Member
United States
168 Posts
 Posted 12/29/2009  2:36 pm  Show Profile Bookmark this reply Add Ferret552 to your friends list Get a Link to this Reply
I just want to point out, though, that this should in no way deter you, Alison, from getting involved in coin collecting... just make sure you avoid the jerks who try to scam other people.
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 Posted 12/29/2009  2:45 pm  Show Profile Bookmark this reply Add Affirmation to your friends list Get a Link to this Reply
WOW! Thank you everybody for replying! This is why I posted my question here. I am new to all this but I'm learning and unfortunately have learned through trial and error on eBay in a couple circumstances but I'm happy to continue educating myself on coins.

Good to know these things about companies. And yes, if it sounds too good to be true, it probably isn't true.

~ Alison
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United States
718 Posts
 Posted 12/29/2009  2:47 pm  Show Profile Bookmark this reply Add Saruma to your friends list Get a Link to this Reply
One of the gimmicks in the ad is to play up the price of gold and that they can't guarantee the price of the coin for very long because gold might keep rising in price. That is nonsense because the amount of gold in the coin is so small that it would take an enormous change in the price of gold to have any real effect on the actual value of the coin.

As others here have pointed out it is a gold clad coin with 31 milligrams of gold. To put this in perspective, 31 milligrams is 0.0011 oz. of gold (in other words about 1/1000 of an ounce). Gold is trading for about $1100 per ounce right now. Therefore this coin contains a whopping $1.21 worth of gold.
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 Posted 12/29/2009  3:03 pm  Show Profile Bookmark this reply Add Affirmation to your friends list Get a Link to this Reply
I think that is pure robbery on that t.v. advertisement's part. Shame on them!!
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8702 Posts
 Posted 12/29/2009  3:07 pm  Show Profile Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
As Saruma pointed out there is only $1.21 worth of gold on this thing. If you could read the COA which you can't on the website but which is very briefly visible on the TV commercial you would find that the rest is copper. 1 oz copper with 31 mg or .031 grams of gold (They use the 31 mg to try and fool those people who know there are 31.1 GRAMS of gold in a troy oz.)


Quote:
Have you noticed when they show the reverse it's only shown very briefly? They try to keep the word "copy" from being seen.

On this thing COPY is on the obv not the reverse. It is on the Indians braid, and from what I can tell in the pictures it is in RAISED letters in violation of the Hobby Protection Act. What you are seeing on the reverse below the buffalo is not COPY, it's the date 2010.

Did you also notice the copy has a plain edge while the real coin has a reeded edge.
Edited by Conder101
12/29/2009 3:12 pm
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United States
5611 Posts
 Posted 12/29/2009  10:07 pm  Show Profile Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

These ads make me cringe whenever they're on the air.

A couple years ago my mother bought this for me as a gift:





I think she paid $25 for it. I'd send it to you for $5 postage and handling if you want it. I've really wanted to get rid of this for a long time!
ANA #R3154474
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