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 Replies: 16 / Views: 17,479 |
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New Member
United States
9 Posts |
First I'd like to know if any of you have dealt with them, and whether they're legitimate or not?
Now to the big question: they're having some special on US Gov. Released $5 Gold coins for $199.99 each. They weigh around 8.75 grams and are 90% gold. Is this a good deal? If not, can anyone point me in the right direction to something comparable around his price?
Thanks so much!
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Moderator
 United States
23522 Posts |
That is less than half the value of the metal in the coin, if it's actually .900 fine. Gold closed at $54.12 per gram today, making the coin you mention worth over $425 just for the gold content.
Something is very, very fishy here. Under another name, United States Rare Coin & Bullion Reserve, on a scale of A+ to F, the Better Business Bureau rates that company an F.
It's a scam, a slam, and probably a bait-and-switch. This is too good to be true, and you know what they say about that....
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Pillar of the Community
United States
5825 Posts |
If you're referring to regular newspaper advertisement or any multi-level marketing tactic sites, stay away from those as far away a possible.
Scams targeting the elderly, the want-to-be scammed individuals.
ONLY BUY FROM TRUSTED DEALERS OR FIRMS!
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New Member
 United States
9 Posts |
SuperDave to the rescue! Thanks a lot Dave, I had a feeling it was too good to be true. That's unfortunate because they have a full page ad in the Inland Valley daily bulletin, & I know many are going to fall for it, sadly.
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Bedrock of the Community
United States
12437 Posts |
 What you have quoted is not possible, there are no US gold coins with a weight of 8.75 grams. The closest is a $5 Liberty or Indian Half Eagle(1839-1929) with a weight of 8.36 grams but it contains almost a quarter ounce of gold and would be worth at least twice that much. From the price, it is almost certainly a modern 1/10oz Gold American Eagle which also has a $5 denomination. $200 is a reasonable price but I am not familiar with "US Money Reserve" so I cannot comment on whether they are legit or not. |
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Valued Member
United States
304 Posts |
Just google 'us money reserve' and read. I'm with Dave on this one.
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Bedrock of the Community
United States
20753 Posts |
Guess you've already been sufficiently warned. Stick around here and ask those kind of questions as much as possible. |
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New Member
United States
17 Posts |
KROOKS with a capital K. Never buy from a glittzy full page ad in a local paper. They will only sell to the uninformed and that is their goal. Frankly the price is a tad to high for a 1/10 ounce gold eagle.
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Pillar of the Community
United States
968 Posts |
I don't trust any company that purposely names itself something that is clearly intended to sound like an official government agency. If they are deceptive about that they will probably be deceptive about the rest of their business.
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Pillar of the Community
United States
1801 Posts |
They are selling 10th oz American Eagles which have a $5 denomination and have $167 in gold at todays price. They are not selling pre 1933 $5 gold coins.
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New Member
United States
9 Posts |
You guys are awesome! Definitely going to keep posting here. I'm sure you all will save my ***Do Not Bypass the Bad World Filter*** over & over
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Valued Member
United States
466 Posts |
its always good to see people ask this kind of thing before jumping in and buying something they are unsure of.
Glad you brought it up not only to help you from buying something you wouldn't be pleased with, but also warning others about the bad deal.
I agree with the stuff posted above of course
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Bedrock of the Community
United States
14454 Posts |
I am with googoo, I would much rather someone ask these types of questions before buying rather having to tell them the bad news after they have already purchased from them
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New Member
United States
9 Posts |
Hopefully this will help others out as it did myself. Still searching & searching for deals!
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New Member
United Kingdom
1 Posts |
the coins I bought are 3.3grams and are the $5 Gold American Eagles paid $169.44 $200 under spot at the time received the coins in 5 days no problems no scam .......cant understand why the first user would think a $5 Gold Eagle is 8.75 grams and by the way the coins are 22kt so before we start bashing maybe we should make sure our facts are correct
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Moderator
United States
23522 Posts |
The bashing you're hearing here has nothing to do with the coins. This company has a proven track record of bait-and-switch tactics, hard-sell approaches, and taking advantage of the elderly and less-knowledgeable. Doing business with them is a personal choice to support such a sales model.
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Replies: 16 / Views: 17,479 |
Posted 10/10/2011 11:50 pm
