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 Replies: 22 / Views: 20,315 |
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Pillar of the Community
United States
5862 Posts |
Saw this on en ebay a little while ago: $5-Commemorative 2011 Statue of Liberty Gold CoinAccording to the description, the coin is 1/10 ounce pure .24 gold and the Buy It Now price is $127.99. Even though 1/10 ounce isn't much, gold is currently at $1700/ounce so 1/10 ounce would be $170. What a steal, right? It took me a minute to realize that it's not 1/10 ounce of pure 24K gold. It's 1/10 ounce of 24% gold (or 5.75K). I was momentarily misled by the fact that the word "pure" is usually only used to described 24K gold (as the seller and creator of this commemorative "coin" probably know full well). |
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Valued Member
United States
123 Posts |
Yeah, sneakily misleading. I always chuckle at the fact that they are advertised as "legal tender"...
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Bedrock of the Community
Australia
21788 Posts |
Perfectly truthful, but misleading description of the lot being advertised.
Legally, it would be difficult to catch this ******* out.
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Valued Member
United States
302 Posts |
I sent the following note to the seller of that coin: Quote:In case you do not know it, this coin is deliberately trying to cheat its buyers. It says "1/10 oz. .24 pure gold" deliberately hoping that people will read it as "1/10 oz. 24k pure gold". The difference is that the coin is 5.76k gold instead of 24k gold, like the gold is only worth about $40 instead of $170. Your price of $113 is far below the implied value of the gold in the coin, which leads me to believe you either 1) have no clue what the real value of the coin is, or 2) you are deliberately trying to cheat your buyers. If it is the first option, this is your wake up call to to amend your listing to show the true facts. If it is the second option, shame on you for being a crooked ebay seller. |
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Pillar of the Community
Canada
1502 Posts |
likely to fall on deaf ears but well said.
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Pillar of the Community
United States
642 Posts |
I think it will fall on deaf ears. My inclination is that the seller knew exactly what they were doing in trying mislead buyers. How could you get 24 % Gold composition by anything but deliberate?
This reminds me of those coins sold on TV; PURE GOLD .......plated, and made to look like legal tender.
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Rest in Peace
United States
9104 Posts |
Give it a rest. We know darn well the seller is deliberately trying to misrepresent the coin, which is, in fact, legal tender. Writing a crooked seller is a waste of time that should have been spent reporting the listing.
Even though he correctly lists the gold weight as .024 oz, the bottom line is there is no such thing as .24 pure gold. It's solid .24 fine gold, and even that's a bit of a misnomer, since the US doesn't recognize alloys lower than 10K as being "gold", just "containing gold".
Join me now in reporting the listing, either the link in the listing or the one on the ccf main page will do.
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Pillar of the Community
 United States
5862 Posts |
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Valued Member
United States
302 Posts |
Quote:This listing ( 180773603371) has been removed, or this item is not available. It is now gone, whether removed by the lister (unlikely) or because of our reports. |
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Pillar of the Community
United States
3670 Posts |
Good deal, with the price he had it listed as, no doubt he was trying to mislead. If he was not, it would have been listed at 40 bucks, and no one would have ever even figured it to be real solid 1/10 instead of pure .024K....
I am glad you sent him a message Mmerlinn, rattle his feathers a little bit, and he will know there is many wise bidders out there will not tolerate such angels on deception....
Too me his pricing was set for someone who does not understand or follow the ol.... When something looks to good to be true, it probably is....rule....
What was it like 125 total, a quick fast buy short of good examination, and the buyer would think they saved 50 to 75 dollar bucks, what a great bargain, or not.....
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Pillar of the Community
United States
3670 Posts |
I will NEVER buy or sell anything plated or clad, just a bad idea to me. I am not knocking you that do, and if have a legit profit from buyers on them who know exactly what they are getting and are tickled pink to get it, that is all fine and dandy. Just not for me, as it creates TOO MUCH confusion, bad for the PM market of the real metals IMO.....
Edited by Silverhawk74
12/11/2011 3:24 pm
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Pillar of the Community
Canada
1502 Posts |
My search term for silver or gold on ebay is getting longer and longer these days: "whatever silver coin I'm looking for -mil -mils -mills -mill -grain -grains -gramms -clad -replica -layered -copy -HGE -filled -plated -copper -titanium -nickel -brass" Wish I could just call it " -crap" |
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Pillar of the Community
United States
4008 Posts |
Quote:
This reminds me of those coins sold on TV; PURE GOLD .......plated, and made to look like legal tender. Yes, I also thought of those TV hucksters in this regard. I love it when they claim that something is plated in PURE 24K GOLD! They repeat the words GOLD and 24K and PURE over and over. Only once do they mention that it only has 71 mg of gold. That is about 0.0023 oz of gold. At today's prices of about $1715 to the oz., that amounts to a whopping $4 or so worth of gold... which they will cheerfully sell to you for only $49.95! Such a deal.  |
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Pillar of the Community
United States
5862 Posts |
I love you guys! It's nice to know I'm not the only one with such a low tolerance for this sort of crap, whether it be on TV, the Internet or what have you. I get so tired of people making excuses on behalf of these sellers like, "it's the buyer's fault for not reading the fine print" or "if the buyer weren't trying to get a steal he wouldn't have gotten burned." A scam is a scam, period!
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Rest in Peace
United States
9104 Posts |
Quote:
It is now gone, whether removed by the lister (unlikely) or because of our reports. No question. A seller can cancel a listing, but only ebay can remove it completely so you get that notice. Good job, gents. |
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Rest in Peace
United States
9104 Posts |
fro mebaY: Quote:
Thanks for reporting this listing to us.
I reviewed this listing and confirmed that it has been ended and removed
from the site.
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Replies: 22 / Views: 20,315 |
Posted 12/10/2011 8:41 pm
