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1/10g "Paper Gold" Notes

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CopperCastle's Avatar
United States
1132 Posts
 Posted 12/30/2014  10:06 pm Show Profile   Bookmark this topic Add CopperCastle to your friends list Get a Link to this Message Number of Subscribers
I heard about these on late night talk show "Coast to Coast AM". George Noory m used to advert for Lear Capitol (which is a legitimate entity) but now they are pushing this. Assayed, 1/10g 24k gold sold in foldable, wallet-sized bills. Gimmick or No? Thoughts?


http://www.papergold.com/

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sel_69l's Avatar
Australia
21786 Posts
 Posted 12/30/2014  10:18 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Gimmick.
Just with the hammered coins of centurues ago, little bits can be clipped off them. Simple to check if you weigh them,
but at the point of private sale, how many likely buyers would carry a scales with them, just in case?

I don't know of a way of checking the weight of a bar or coin on ebay, before deciding to make a bid.

Might be OK for smuggling with the thin sheets sewn into clothing. Illegal immigrant boat people do that.
Problem solved if they have to jump into the sea. Tragedies like that happened with the foundering of the Spanish Armarda in 1588.
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CopperCastle's Avatar
United States
1132 Posts
 Posted 12/30/2014  10:41 pm  Show Profile   Bookmark this reply Add CopperCastle to your friends list Get a Link to this Reply
At $100 per gram that's roughly $3100.00 per ounce! Granted it's kinda like buying silver in 1/10 grams (affordable, but HIGHLY inflated) but geez. They're more than doubling their profits! Could you imagine walking into a gentleman's club with gold bills? Idk if you'd be a revered or tossed out by the bouncer.
Edited by CopperCastle
12/30/2014 10:45 pm
Pillar of the Community
United States
589 Posts
 Posted 12/30/2014  11:13 pm  Show Profile   Bookmark this reply Add Groszy to your friends list Get a Link to this Reply
Interesting, but preying on those who don't know the spot price of gold. In today's world, one ounce coins are a better option, even to sell at spot. In a post-apocalyptic world, where one would assume having really small amounts of gold for purchases would be beneficial, he who owns the gold sets the prices (it's the same basic principal today, only a lot of people own "dollars"); so again, one ounce coins are all that's needed (plus, if they're .999 coins, you can easily split them in half if you would ever "need" to)

Gimmick all the way.
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0xDA71D's Avatar
United States
1215 Posts
 Posted 12/31/2014  8:33 pm  Show Profile   Bookmark this reply Add 0xDA71D to your friends list Get a Link to this Reply
You might as well be investing in copper rounds!
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SilverDon's Avatar
Canada
2360 Posts
 Posted 01/01/2015  08:08 am  Show Profile   Bookmark this reply Add SilverDon to your friends list Get a Link to this Reply
Foldable, now that's a benefit.
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