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 Replies: 15 / Views: 2,816 |
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New Member
United States
6 Posts |
I know a lot about silver but am pretty new to gold buying. I'm trying to buy a 2010 1oz Gold Eagle. Before I spend the money, I'm trying to find out if these are faked. If so how can I tell the difference between a fake and a real coin.
Thanks for the help.
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Valued Member
United States
106 Posts |
Anything with value is faked including these, I see fakes all the time at flea markets and antique shops. Best advice is to buy from a trusted source not some CL or ebay post. |
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Pillar of the Community
United States
4008 Posts |
I agree with Henry. Paying a little more to get the real thing is well worth the extra cost above a cut rate deal that may or may not be a real coin. There are lots of good dealers on Internet who will sell you real gold and silver at good prices.
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Bedrock of the Community
Australia
21788 Posts |
I would only buy low valued items on ebay, unless you are very familiar with the seller, or have previously established a good customer relationship with them beforehand. |
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Pillar of the Community
United States
1200 Posts |
You should be safe if you buy your Gold Eagle from APMEX, Provident, Goldmart or some other nationally known, reputable PM/coin dealer. You should also be safe if you buy it from an old, established, reputable local PM/coin dealer (NOT one of those flea-infested "We Buy Gold" flybynighters). If buying it at coin show, caution is required - you need toknow the vendor. Buying it from CL or ebay is courting disaster. ebay should be renamed CaveatEmptorLand. There may be some "good deals" in there, but buying PM's and numismatic coins sight unseen (which is what I call not physically inspecting the goods before purchase) is for those who are fat in the wallet, long on courage, overflowing with blind trust in others and short on caution. To me, the best insights ever into the ebay world can be seen in the CRH Forum threads " ebay unsearched wheats" and "purchasing unsearched rolls on ebay." They pretty much say it all. |
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Bedrock of the Community
United States
36830 Posts |
The Chinese will fake anything they can make a Yuan on.
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Valued Member
United States
264 Posts |
You want to avoid Gold Eagle fakes? Pay the $20 or so premium and get NGC graded eagles.  |
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Pillar of the Community
United States
808 Posts |
My very first AGE purchase was slabbed and bought from a major PM dealer for that very reason, rgathright.  However, I've long since stopped buying slabbed bullion in favor of finding the best possible price from among the well known and trusted PM dealers. For me, gaining the confidence to avoid fakes involved learning all I could about the AGE. I bought an accurate scale, a pair of nylon calipers for taking measurements, and a known "good" AGE coin from a reliable source. Fakes typically are designed to stand up to only casual examination. If the weight and physical dimensions are true to published specifications, you're mostly there for validation. Checking the orientation of the obverse image to the reverse, examining the letter fonts and spacing, and other such familiar details will typically be enough proof, along with the physical specifications, to determine authenticity. |
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Pillar of the Community
United States
830 Posts |
I've heard of fake slabs too.
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Pillar of the Community
United States
3486 Posts |
Years ago, there was a commercial for a jewelry dealer on our local TV station:
"If you do not know diamonds, know your diamond dealer."
The same thing applies to Eagles. Buy from one of the top, reputable sellers and STUDY IT OVER AND OVER AGAIN!
Pay the premium and consider it the price of a lesson well learned. To pay $20 or $30 for the lesson
OR lose about $1800 - really, think about it.
A first-time buyer of gold is in no position to hunt for a bargain.
You'll be able to sleep at night. And your next purchase will be easier.
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Pillar of the Community
United States
808 Posts |
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Bedrock of the Community
13014 Posts |
If you get them right from a reputable mint you can be sure theyre real Quote:I would only buy low valued items on ebay, unless you are very familiar with the seller, or have previously established a good customer relationship with them beforehand. I agree about the sellers. Anything of significant value I buy slabbed, but even then stay away from shady sellers. Dont buy from the ones whose first time selling is a gold coin, no sellers from China or really that region, and if it looks to good to be true it is. A lot of sellers on there are legitimate coin shops as well like a david lawerence type place who arent out trying to scam anyone. |
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Pillar of the Community
United States
1200 Posts |
For previous year coins, the advice above is sound.
If you want to go ultra-safe..... Some national internet dealers will list current year AGE "Brand New Coins" - you pay about a few dollars more than the regular price for current year, but you get coins that are out of a straight-from-the-mint tube. Or - just buy the "new year" AGE immediately after it's released, so you know the odds are 99%+ that the one you're getting isn't secondary market. That should be about as safe as safe gets.
Edited by Fat Freddy
11/11/2012 09:43 am
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Pillar of the Community
United States
2541 Posts |
Or you could buy the new ones from the US Mint directly - hopefully those will be real!
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Pillar of the Community
United States
1119 Posts |
Can You Buy Bullion Gold Eagles direct from the US mint? I know you can't with silver eagles.
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Bedrock of the Community
13014 Posts |
I dont believe so, only collector versions
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Replies: 15 / Views: 2,816 |
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Posted 11/08/2012 7:59 pm
