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 Replies: 15 / Views: 11,916 |
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New Member
Sweden
5 Posts |
Hello, I am new here to the coincommunity and want to know if you can spot if it is a real or fake coin I just bought? I got a pretty good price on it! (1000 dollar) Thanks in advance!     |
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Pillar of the Community
United States
3467 Posts |
You're right to question the authenticity of a bullion coin sold at 80% of spot.
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New Member
 Sweden
5 Posts |
I am sorry, it was about 1140 usd. (i just checked) but still pretty cheep?
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Pillar of the Community
Canada
3733 Posts |
i would want it tested before I would buy it. no one sells 1 ounce brand name gold for 100$ under spot..
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New Member
Sweden
5 Posts |
How should I test it? Size is perfect. It has a little tone to it. I just dont know the exact weight. But I know it is around 31 gram. (My scale is not the most accurate). If it is the exact weight 31.15 would you say it is real then? I bought it at a pawnshop and the owner said it was 100% real.. just feels too good to be true!
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Pillar of the Community
Canada
2845 Posts |
I notice the security features are evident, a "17" micro-graved inside the tiny maple leaf plus the very fine radial lines. And by the intricacy of detail in general, I'd say it looks legitimate in my unprofessional opinion.
Today's 1oz gold price its bullion value is just under $1600 Cdn. If it's indeed authentic at such great discount I'd wonder if it wasn't stolen.
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Moderator
 United States
54280 Posts |
Tell us more about how you came to acquire this coin. Online? Flea Market? Friend? Store?
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New Member
Sweden
5 Posts |
I bought it at a pawnstore and I got a receipt! Not from a friend. I Just walked in the store saw the coin and googled it fast, saw the prices online. Asked if the price really was that price and I bought it Instantly and he even said if it is not real you can return it anytime.. Guess I might got lucky then! Thank you so much for your fast answers and help. Please tell me if you find anything bad with the coin or anything I should do to make sure it is real!
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Pillar of the Community
Canada
1571 Posts |
If you take it to any "cash for gold" store (or even a jewelry store if you say you plan to sell it), they would very easily be able to tell you if it is gold and usually the purity. However, it will mark your coin.
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New Member
Sweden
5 Posts |
What does a marking of a coin lilke this do to the value of it?
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Pillar of the Community
Canada
5324 Posts |
Most large gold or coin stores will have an XRF, it's a machine to xray a coin or spoon for metal content, pretend you want to sell it, they will confirm if .9999 gold
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Pillar of the Community
Canada
1571 Posts |
It you got it at a pawnshop and it wasn't in a capsule or anything, chances are you the owner of a buillion coin with dings or marks on it already. Pure gold is soft. It marks easily. If it's not in pristine condition, you have 1 Oz of gold, and the price will be according to the spot price. If you got it at less than spot, you got a deal. If you sell it for more than you paid, all the better.
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Pillar of the Community
Canada
5324 Posts |
Most pawnshops would not leave 600 bucks off the table, get it xray it will tell you instantly, it's a bullion coin only worth bullion pricing
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Pillar of the Community
Canada
3690 Posts |
Unless I'm mistake, the OP bought the coin at a pawnshop for 1140 USD. Spot today is 1260USD so he got it for 120 less than spot. It's highly likely the pawnshop simply sold it for more than they were owed (or paid for it) and called it a day. I could be wrong, but I doubt many coin shops would pay you spot or even 1140 USD for a GML if you wanted to sell it today. APMEX lists the GML for sale at 1310. Buying from a pawnshop for 170 less is a good deal but not crazy IMO. OP also didn't indicate but I'm assuming he's in the US given he paid US dollars. I'd think the market for a GML in a random American pawnshop would be fairly soft. To my untrained eye, the coin looks real. It also has all of the security features including the '17' located within the security mark which can be checked via magnification. http://www.mint.ca/store/content/bu...out+the+MintQuote:
If it is the exact weight 31.15 would you say it is real then? OP the coin should weight 31.110 not 31.15 Edited by CC-Ottawa
07/27/2017 8:31 pm
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Pillar of the Community
United States
4211 Posts |
 Jako....the coin looks legit to me but I would be cautious buying raw 1 oz. gold coins without verification of some type in the future. There are some excellent fakes out there. Great buy on this one!  |
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Valued Member
Canada
458 Posts |
yes to many fakes out there
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Replies: 15 / Views: 11,916 |
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Posted 07/27/2017 5:02 pm
