| Author |
 Replies: 54 / Views: 26,667 |
|
New Member
United States
19 Posts |
Not sure if I should post my question here for this but I just saw this on t.v. Do you think this is a wise investment? I'm very tempted but wanted to run it by others that are more informed than I am. Thank you so much. ~ Alison
https://www.50dollarbuffalo.com/
|
|
|
|
New Member
United States
4 Posts |
Edited by Wanderermy
12/29/2009 01:20 am
|
|
Pillar of the Community
United States
2520 Posts |
These people prey on the unknowledgable. They make a basically worthless item sound impressive in hopes of selling them to well meaning relatives of coin collectors who turn around and give them to the collector as a present. I hate to see people waste money on stuff like this with NO numismatic value.
|
|
Valued Member
United States
168 Posts |
Wow... a tribute clad proof. That is totally worthless.
|
|
Valued Member
United States
393 Posts |
Have you noticed when they show the reverse it's only shown very briefly? They try to keep the word "copy" from being seen.
|
|
Valued Member
United States
461 Posts |
That is absolutely sickening! Companies like this should be run out of business immediately. I just met with the woman two days ago who had been given these types of things to her by her aunt over and many year period. Most of them were originally purchased through the biggest scam outfit called "the Morgan mint" and were absolutely worthless!
Everyone should e-mail, call or send a written letter to the consumer protection agencies in their area to stop this leech like bloodsucking of mostly elderly folks.
Hope my extreme agitation over these criminals did not cause me to get too crazy!
|
|
Pillar of the Community
United States
2661 Posts |
I saw those last night. They are "clad" in 31 milligrams of gold  . Take the money you would spend on these and go get a box of cents from the bank. You will be much better off. Edited by Tim Stroud
12/29/2009 08:21 am
|
|
Pillar of the Community
555 Posts |
How in the world do those people sleep at night?
|
|
Valued Member
United States
124 Posts |
 They sleep at night because they have no conscience! |
|
Pillar of the Community
United States
6326 Posts |
If anybody thinks they can buy an ounce of gold for that price......well.......I'll just say, folks should do a little research BEFORE making certain purchases ! I too have been seeing this commercial on tv. My fiancee' and my mom have both commented that they've "seen my gold Buffalo on tv selling for an incredible price !"....... good grief ! ....  I had to explain that my two gold 2006 Buffs are S.O.L.I.D. 1oz. gold minted 100% by the United States Mint. And that you couldn't possibly pay less than $50.00 for one of these ! They're even worth more than "spot price" gold ! It's yet another way for snake oil salesmen to make money off the real thing....perfectly legally. You get exactly what they say you'll get.....but OH MY GOODNESS ! Through the past couple years, I've seen these in magazines too.....they do tell you (and you can see) that it's only a copy....but....it's still disconcerning to me. "Layered" in gold, or platinum, or silver, or anything else, when you're talking about a coin.......is NEVER a good thing.....and will always be overpriced, and is NOT a wise investment, or a good addition to any coin collection, at any price. It might look "neat"......but it's never going to be worth anything to anybody.....IMHO. I understand the desire to have a cheaper "copy" of the real thing, if one can't afford the real thing.....but it's not a good idea. Older coins can be represented this way.....and displayed proudly (with some copies even having some value) in a collection, but this Buffalo thing seems very "seperate" to me. Edited by eaglefoot
12/29/2009 11:21 am
|
|
Valued Member
United States
168 Posts |
I just want to point out, though, that this should in no way deter you, Alison, from getting involved in coin collecting... just make sure you avoid the jerks who try to scam other people.  |
|
New Member
 United States
19 Posts |
WOW! Thank you everybody for replying! This is why I posted my question here. I am new to all this but I'm learning and unfortunately have learned through trial and error on ebay in a couple circumstances but I'm happy to continue educating myself on coins. Good to know these things about companies. And yes, if it sounds too good to be true, it probably isn't true. ~ Alison |
|
Pillar of the Community
United States
968 Posts |
One of the gimmicks in the ad is to play up the price of gold and that they can't guarantee the price of the coin for very long because gold might keep rising in price. That is nonsense because the amount of gold in the coin is so small that it would take an enormous change in the price of gold to have any real effect on the actual value of the coin.
As others here have pointed out it is a gold clad coin with 31 milligrams of gold. To put this in perspective, 31 milligrams is 0.0011 oz. of gold (in other words about 1/1000 of an ounce). Gold is trading for about $1100 per ounce right now. Therefore this coin contains a whopping $1.21 worth of gold.
|
|
New Member
United States
19 Posts |
I think that is pure robbery on that t.v. advertisement's part. Shame on them!!
|
|
Bedrock of the Community
United States
17884 Posts |
As Saruma pointed out there is only $1.21 worth of gold on this thing. If you could read the COA which you can't on the website but which is very briefly visible on the TV commercial you would find that the rest is copper. 1 oz copper with 31 mg or .031 grams of gold (They use the 31 mg to try and fool those people who know there are 31.1 GRAMS of gold in a troy oz.) Quote:
Have you noticed when they show the reverse it's only shown very briefly? They try to keep the word "copy" from being seen. On this thing COPY is on the obv not the reverse. It is on the Indians braid, and from what I can tell in the pictures it is in RAISED letters in violation of the Hobby Protection Act. What you are seeing on the reverse below the buffalo is not COPY, it's the date 2010. Did you also notice the copy has a plain edge while the real coin has a reeded edge. Edited by Conder101
12/29/2009 3:12 pm
|
|
Bedrock of the Community
United States
10982 Posts |
These ads make me cringe whenever they're on the air. A couple years ago my mother bought this for me as a gift:   I think she paid $25 for it. I'd send it to you for $5 postage and handling if you want it. I've really wanted to get rid of this for a long time! |
| |
Replies: 54 / Views: 26,667 |
Posted 12/29/2009 01:13 am
