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 Replies: 16 / Views: 5,492 |
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Pillar of the Community
United States
919 Posts |
Thanks for sharing. In another thread someone asked why anyone would buy a graded ASE. Here is a great reason for beginners to start with graded ASE's. I have seen them sell for only $6 over spot on many occasions. Small price to pay for security. |
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Pillar of the Community
 United States
1796 Posts |
I'm not sure that TPGing bullion coins is really the way to go, as it costs more to grade them than you'll get back in premium. A coin club is a better battery against fraud than a plastic capsule any day. Not to mention that there are things like this: http://fakes.numismetrica.com/categ...-coins/pcgs/Say hello to fake PCGS slabs. These pass as genuine, too. :-) |
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Pillar of the Community
United States
3789 Posts |
wow thanks for the heads up! Man... thats just ,,, so disappointing and annoying. For sure I dont any off ebay where the seller doesn't have a rep. Also makes me leery tho even on well known dealers with good reps, not telling what accidentally be slipped past them. I guess if you are going to collect, you better stick to graded coins as mentioned, proof coins and deal direct with the mints if possible, even if you have to pay a premium, at least you dont have the problem of being out of pocket on a worthless coin. |
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Pillar of the Community
Canada
3167 Posts |
Thanks for the info! Now I know what to look for.
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Pillar of the Community
United States
1200 Posts |
Counterfeiting ASEs blows my mind. There has to be significant expense that goes into the design and production of the counterfeits and the profit margin has to be pretty limited at the ASE price level. I'd think it'd be more sensible to counterfeit a more expensive coin and go for the bigger profit margin. Oh, well. Welcome to 2013 !! At least I can feel safe when I buy current year mainstream bullion coins from the major national online dealers because I know they get their inventory on pallets either directly or nearly directly from the mints that make the coins. |
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Bedrock of the Community
13014 Posts |
Quote:Counterfeiting ASEs blows my mind. There has to be significant expense that goes into the design and production of the counterfeits and the profit margin has to be pretty limited at the ASE price level. It probably started with the uncirculated ones and they just removed the mint mark to mark the bullion ones. But as people catch on to their other stuff they have to keep expanding to stay ahead of the game |
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Valued Member
United States
292 Posts |
➤ 50.4753 percent nickel
➤ 39.3614 percent copper
➤ 10.1163 percent zinc
➤ 0.0271 percent gold
WTH - It contains GOLD?
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Pillar of the Community
United States
1796 Posts |
It's a an alloy probably made from scrap of dubious fineness. Hence the impurities. (Gold being an impurity in this case.)
Edited by SteveCaruso
02/06/2013 2:58 pm
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Pillar of the Community
United States
1721 Posts |
Let me guess:
MADE IN CHINA
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Valued Member
Canada
78 Posts |
It is so funny in a way...in theory if all of them had 2.7% gold...100/2.7=37 coins.
So if a person bought 37 of these fakes at 35 bucks = 1296, they would have gold content of 1 ounce worth 1670.
Yes not sure if possible to refine 2.7% gold...but in theory 1670 in gold for every 37 coins...if that stayed constant.
This guys are sure really smart, lol.
Good news is the fake is 32.6 grams...wieght is still the great test...if this fake weighed 31.3 I would be more worried
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Valued Member
United States
456 Posts |
kavern23, the article said it contained 0.027% gold, not 2.7%.
All these fakes popping up is a real concern. As the fakes get better and better, I wonder how it will affect the resale of legitimate bullion coins in the long run.
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Pillar of the Community
Canada
3733 Posts |
in theory where are you getting the 2.7% gold from. it is stated as .027 % so if that's the case you would need 3700 silver coins..
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Pillar of the Community
1007 Posts |
It doesn't have 2.7% gold. Lol
Silverwolf and SDCrow beat me to it.
Edited by Rockdaddy
02/06/2013 7:28 pm
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Bedrock of the Community
13014 Posts |
Quote:
I wonder how it will affect the resale of legitimate bullion coins in the long run.
Theres little effect it would likely have other than drive the mintage down over time if people turned away from them. They sell for small premiums over melt so there really isn't anywhere for the price to go |
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Valued Member
Canada
78 Posts |
Opps, your right on the error, my bad. Too much coffee at work and I am an accountant and should know my numbers.
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Posted 02/05/2013 5:14 pm
