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What Did I Buy?

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Author Previous TopicReplies: 11 / Views: 4,109Next Topic  
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davec13's Avatar
United States
757 Posts
 Posted 01/27/2014  8:32 pm Show Profile   Bookmark this topic Add davec13 to your friends list Get a Link to this Message Number of Subscribers
I stopped at an antique mall today and found this.
What-Did-I-Buy?
What-Did-I-Buy?

The only thing written in English is
Hong Kong Gold Coins Company
USD 50 Trade dollars
Ag.999 1.5oz

Is this a known silver piece? I've tried searching online to try and find an answer with no luck.
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traevin's Avatar
United States
1454 Posts
 Posted 01/27/2014  8:59 pm  Show Profile   Bookmark this reply Add traevin to your friends list Get a Link to this Reply
If you don't mind me asking, how much did you pay for it?

Update:

The reason I asked about the price you paid is that I've seen a great many of these over the years while searching for world coins on auction sites like ebay. Anyone interested in buying items of this nature, be very wary. One seldom receives precisely what's advertised.
Edited by traevin
01/27/2014 10:05 pm
Valued Member
United States
105 Posts
 Posted 01/27/2014  9:36 pm  Show Profile   Bookmark this reply Add Okie1987 to your friends list Get a Link to this Reply
We'll hopefully someone on here will know because now I'm interested. I would be worried about anything that has US value on it that's not a US item but that's just me. Maybe it's a real old item and you made a great buy.
Valued Member
sokkos's Avatar
Canada
63 Posts
 Posted 01/28/2014  12:15 pm  Show Profile   Bookmark this reply Add sokkos to your friends list Get a Link to this Reply
Can a coin (or round) legally say XX.XX dollar of a foreign currency if it wasn't authorized to be minted by that country? The first thing I see is the simplified Chinese characters and that suggests to me it's a product from China. Hong Kong usually uses traditional Chinese characters. I did not find any information looking up Hong Kong Gold Coin Company, but I did find a China Gold Coin Incorporation. I suspect the name was put on for show to suggest it is a Hong Kong product or it may just be an outdated name.

The character inside the circle in the center says dog. The inscription above says it is a commemorative coin featuring the chinese zodiac painting by the painter (the first two characters are his name). I googled the inscription and it appears it was offered for sale at one point by a bank in China. Each piece is 550g of 999Ag, and there are 12 pieces per set for the full zodiac. There were 2006 sets sold in China or minted (I'm not too sure from the online article). Then again, it appears a few of these sets have been created in the past, so I'm not sure if the mintage refers to this particular set. These coins were apparently very popular and sold out when they were released. I personally have never seen this set before.

EDIT: the set of 12 coins total more than 550g (read the article again)
Edited by sokkos
01/28/2014 12:16 pm
Pillar of the Community
United States
3184 Posts
 Posted 01/28/2014  12:36 pm  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
honestly could be fake and not even have silver or any precious metal. Why? Because a while back on another forum a member bought some chinese bullion coins labeled as silver with a box and COA and when he weighed it, it was off and then he cut it in half and it was plated.
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davec13's Avatar
United States
757 Posts
 Posted 01/28/2014  2:50 pm  Show Profile   Bookmark this reply Add davec13 to your friends list Get a Link to this Reply
I really did buy it as a gamble. I only payed $10 for it, so even if it's fake I'm not really out much money. If it does turn out to be real I will have made a good buy. I figured with the vast knowledge contained within this site someone would have known exactly what it was and been able to give me an answer quickly. I don't want to destroy it to see if it's real silver though. I guess i'll just toss it into the unknown "unique" pile and forget about it.
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Kefiroth's Avatar
United States
1431 Posts
 Posted 01/28/2014  3:20 pm  Show Profile   Bookmark this reply Add Kefiroth to your friends list Get a Link to this Reply
My first thought is that it's probably a plated bar.

You see the words "Ag.999" and "1.5oz", but that does not necessarily mean that it is 1.5oz OF .999 silver; just that it is 1.5oz and perhaps contains some amount of silver in it (i.e. the plating).

That it was priced at only $10 is a pretty telling indicator as well. There's not really much to lose though, so there's nothing wrong with making a little gamble.
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davec13's Avatar
United States
757 Posts
 Posted 01/28/2014  7:35 pm  Show Profile   Bookmark this reply Add davec13 to your friends list Get a Link to this Reply
The price really wasn't a red flag to me. It's called an antique mall, but it's more of an indoor co-op year round garage sale. People pay rent for a glass showcase and have to work a set amount of hours. Finding deals isn't unheard of. I took the gamble that this may be real because of the price and the fact I got a Mercury dime from the same case for a dollar. In the end it's 10 bucks and it looks cool.
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traevin's Avatar
United States
1454 Posts
 Posted 01/28/2014  8:01 pm  Show Profile   Bookmark this reply Add traevin to your friends list Get a Link to this Reply

Quote:
You see the words "Ag.999" and "1.5oz", but that does not necessarily mean that it is 1.5oz OF .999 silver


Agreed. It may be better to just assume you purchased a block of metal, an unknown quantity of which consists of .999 silver. Had the bar stated 1.5 full ozs. of .999 silver, the sellers would have moved from beneath the legalistically safe umbrella of a simple linguistic artifice to a more extralegal, and therefore verboten, region of doing business.

You probably already know this but one quick, simple test you can use to determine if it might be silver is to see if it's magnetic.

Good score on the dime, though. I'm still waiting to find something of that nature at a yard sale. I always hear about people finding silver or 14k gold rings in the junk bin. Not me. Not once. Guess you gotta dig to find and I'm too impatient. Maybe next yard sale season
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basebal21's Avatar
13014 Posts
 Posted 01/28/2014  8:43 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Can a coin (or round) legally say XX.XX dollar of a foreign currency if it wasn't authorized to be minted by that country?


Technically probably not, but no ones going to go anything about it. North Korea pumps out high quality fake 100 dollar bills and all they try and do is pick off shipments of those. Something like this wouldnt get any attention except maybe customs at the airport if they were being finicky that day.

The only real take away is just knowing that if it says it it means nothing. The one time it could become an issue would be resale on ebay if someone reports it as fake currency but then again the Norfed dollars seem to go unchecked for resale so I find it unlikely something like that would get much if any attention from anyone other than ebay if they decided to act
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Bm0ney's Avatar
Canada
1005 Posts
 Posted 01/28/2014  8:57 pm  Show Profile   Bookmark this reply Add Bm0ney to your friends list Get a Link to this Reply
Cool find. If it is silver like it says on it that would be even cooler.
Having it tested shouldn't be all that difficult. I would have brought it home out of curiosity.
Valued Member
United States
337 Posts
 Posted 01/28/2014  10:24 pm  Show Profile   Bookmark this reply Add Henry M Smith to your friends list Get a Link to this Reply
The dollar amount appears to be on the case, but that is a guess from the picture. Perhaps that is the suggested price.

It does not appear to be a coin, since a Chinese coin would have a denomination, including the yuan symbol which looks like the pi symbol. China has a lax policy regarding counterfeiting other countries coins, but not so if that symbol is on the coin. They do not allow counterfeiting their own.

The way such things get past ebay is they claim to be selling weights to hold cards down for poker, etc., and do not say coin.
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