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 Replies: 33 / Views: 26,338 |
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Rest in Peace
United States
9104 Posts |
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The jewelry market is full of counterfeits just as much as the coin market.
Prolly worse. You're not likely to do hard time for fake jewelry. |
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Pillar of the Community
United States
4008 Posts |
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You're not likely to do hard time for fake jewelry. Yeah, there IS that! A couple of years for fraud is one thing but the Feds REALLY frown on counterfeiting. Seems to me that we just had a case wherein a fellow was making his own silver dollar-like coins and got busted and convicted for it. He said that he wasn't making coins that looked like official US coins but a jury of people who know diddly about coins thought that he did. Oh, well. We'll see how the appeal process comes out. Maybe next time around, a bunch of coin collectors will be on the jury?  Personally, I don't have a problem with people making gold and silver coin-like medallions as long as they contain the metal and purity that is claimed for them. I guess that others see it differently.  |
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Valued Member
Poland
114 Posts |
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Personally, I don't have a problem with people making gold and silver coin-like medallions as long as they contain the metal and purity that is claimed for them. I guess that others see it differently. In fact it's quite popular in Poland. Quite a lot of private companies make their own silver tokens or medallions. These medallions are made mostly in the Polish Mint in Warsaw and - to reduce costs - they are mostly struck on the same planchet that Polish silver 10zł (14.14g of 925 silver) and 20zł (14.14g of 925 silver) are. They are all legal as long as they don't have the Polish Eagle on them. Moreover I can pay the mint to struck so called "local coins" for me. I can called them e.g. one, two and eleven (why not) Murazors.  And if I want to accept them as a payment made to me or my company I can do that. In fact a number of towns released such "local ducats" to promote themselves and asked the merchants in the touristic attractive areas to accept them at the rate one ducat = one złoty. (And they usually accept them because the retail value of such coins is much higher.) |
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Rest in Peace
United States
9104 Posts |
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Those who did not trust the government held onto their gold. Now, that is a good lesson for us all. Another thing to consider when talking about a potential modern gubmint gold grab is the general feeling of citizens towards the gubmint. When the original grab happened, people believed whatever the gubmint told them. Heck, they wouldn't even picture FDR in a wheelchair! Today, even the most rabid pro-gubmint person has at least a nagging feeling that maybe we are occasionally getting our chains pulled, and some of the type of people who are holding gold will flat out tell you that anything the gubmint tells you is a steaming pile of  This would make gubmint confiscation of gold about as easy as sex in a hammock. |
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Rest in Peace
United States
9104 Posts |
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Personally, I don't have a problem with people making gold and silver coin-like medallions as long as they contain the metal and purity that is claimed for them. I guess that others see it differently. I have a problem with sellers using terminology that is either inaccurate or at best misleading. The gubmint calls them golden dollars, which is technically correct, but which immediately becomes gold dollars, which is misleading. What they are is Brass Bucks. Not as impressive sounding, but far more accurate. How about ebay sellers of stuff like copper rounds? They're rounds, bars, perhaps tokens or medals, but they're not coins, and shouldn't be listed in that category. |
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Valued Member
Poland
114 Posts |
Listing tokens, medals, medallions and other numismatic items that are not coins as coins (or pretending that are ones) is surely unfair as "being a coin" adds some value to the item. Some sly guys have found a workaround: it's not too difficult to obtain a permission to release a Palau/ Niue / Liberia coin.  |
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Rest in Peace
United States
9104 Posts |
Serious collectors know to avoid NCLT "coinage" from a few countries as the garbage that it is. At least, as a legal tender issue from a recognized gubmint, they can legitimately be called coins.
No way an ounce round of copper put out by a private mint should be called a coin.
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Bedrock of the Community
Australia
21788 Posts |
OK to collect both. I do. I also cut faceted stones.
With jewelry, often the most valuable component is a gemstone.
Most of us are at least vaguely aware that gemstones are faked as well.
A whole area of science has evolved, known as 'Gemology', which is the detection and identification of gemstones, both fake and genuine. I have quite a few scholarly books on the subject.
Probably the biggest Gem and Mineral Show in the World is held in Tucson Az., every year. It is attended by thousands.
Edited by sel_69l
07/30/2011 12:58 am
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Rest in Peace
United States
9104 Posts |
If you collect gold in the form of jewelry, and are not on the Tiffany level (which is collecting jewelry, not gold), stick to plain gold bands and simple chains. Upon sale, you won't have to try to recover workmanship premiums.
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New Member
Nigeria
2 Posts |
It's actually better to buy coin gold rather than jewelry cold because you don't have to spend on coin gold for polishing and all other maintenance plus coin gold can be remold to other things. It's easier to melt coin gold than jewelry gold. You can check here to learn more about gold investment https://www.pheasantenergy.com/best...est-in-gold/Edited by irishposh
04/05/2021 08:39 am
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Bedrock of the Community
Australia
21788 Posts |
Gold jewelry is re bought at it's net scrap actual gold value just the same as gold bullion coins are.
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Pillar of the Community
 Canada
665 Posts |
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Gold jewelry is re bought at it's net scrap actual gold value just the same as gold bullion coins are. I tend to find a fairly high discount on Jewelry. Maples, Eagles, Koalas etc. are all 24K (99.99% or better) these days... Jewelry is mostly 9K, 10K or 14K, occasionally 18K or 22K but almost never 24K. The cost to refine out the alloy needs to be factored into the weight and you always see a discount from the actual gold weight that reflects that additional cost. If you are looking for liquidity, coins are easier to convert to currency. |
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Pillar of the Community
Canada
5246 Posts |
My LCS buys jewelry at a significantly lower % of bullion than coins for a number of reasons:
1. He is not registered to sell jewlery, so it all ends up being melted
2. It is riskier to buy. Even testing each piece is not foolproof.
He doesn't pay for gems, since he does not have the knowledge to value them. If the seller wants them, he cuts them out and gives them back to the seller.
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Bedrock of the Community
Australia
21788 Posts |
Looks like a much stronger case is being made for buying bullion coins, rather than gold trinketry at it's gold value.
Buy gold jewelry if your motivation is to do that, (no gemstones included), but from this discussion, it seems gold bullion coins are a much more efficient gold (only) investment.
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Valued Member
Canada
54 Posts |
The only gold jewelry I own is what I find in storage lockers I clear out. I buy gold coins occasionally. God jewelry is consumption while bullion is an investment/store of wealth.
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Replies: 33 / Views: 26,338 |
First Page
Posted 05/09/2011 11:54 pm
