DC Sachs $100 24k gold?

Discussion in 'Coin Chat' started by jiggysmb, May 21, 2013.

  1. jiggysmb

    jiggysmb Member

    Hey Guys
    One of my local shops just got a large stack of the DC Sachs 24k gold $100 bills. He claims they are legal tender and that they are 6 grams of 24k pure gold. My question is, can this be true? I don't see much info online about them, but do see recent sales on eBay are $40-50. If it is really legal tender, I would guess they would sell for at least $100, and if 24k they would be worth over $200 just in scrap gold prices.
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  3. John Anthony

    John Anthony Ultracrepidarian

    First of all, they are not legal tender - they are bullion bars.

    Secondly, just do the math. 6 grams of 24k gold = 0.193 troy ounces. Gold spot closed at $1376.80 today, so the spot value of the bars is $265.72.

    That's assuming they're really 6g at 24k. I don't know anything about the reputation of the company that makes them.
  4. jiggysmb

    jiggysmb Member

    That is my problem. Doing the math gives me over 200 but then why do they sell for $40-50 on eBay? The lack of info make me think these are plated foil.
  5. Hobo

    Hobo Squirrel Hater

    Bingo!
  6. John Anthony

    John Anthony Ultracrepidarian

    I'm not sure which auctions you're looking at, but this one sold for $274, so somebody thought it was solid 24k gold...

    http://www.ebay.com/itm/99-9-PURE-2...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

    But there are way too many red flags with this product, and my suspicion is that it is indeed plated. I wouldn't touch it.
  7. Conder101

    Conder101 Numismatist

    The COA is enlightening. From reading it you find that it is gold (most likely gold foil) embossed onto polycarbonate (a hard rigid plastic). So most of the 6 gram weight is going to come from the weight of the plastic. So how much gold is actually on it? I think the clue is the content line Content $100 legal tender in 24 KT gold. My guess is that means that it contains $100 worth of gold. But $100 worth when gold was at what price?

    And it is NOT legal tender.
  8. gubni

    gubni Member

    Its plated and worth virtually nothing in scrap value.
  9. jiggysmb

    jiggysmb Member

    It is 16grams with the plastic, the bill itself it 6 grams. I think it is safe to say someone paid way too much at $274 on that ebay auction.
  10. Conder101

    Conder101 Numismatist

    It is 16 grams with the plastic SURROUNDING the "bill" (See the photos). The "bill" itself is gold foil on a polycarbonate substrate (per the COA) and that gold and plastic thing weighs 6 grams. Most of the weight probably comes from the plastic substrate.
  11. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    lol scam...lol
  12. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    9COMPLETE SET 3 PIECES[TABLE]
    [TR]
    [TD="class: attrLabels"]Shape:[/TD]
    [TD="width: 50%"]BANKNOTE BILL[/TD]
    [TD="class: attrLabels"]Certification:[/TD]
    [TD="width: 50%"]GERO COLLETOR'S MINT[/TD]
    [/TR]
    [TR]
    [TD="class: attrLabels"]Brand/Mint:[/TD]
    [TD="width: 50%"]DC SACHS / GERO[/TD]
    [TD="class: attrLabels"]Authorized Grantee:[/TD]
    [TD="width: 50%"]DC SACHS: BULLION & BANKNOTE COMPANY[/TD]
    [/TR]
    [TR]
    [TD="class: attrLabels"]Precious Metal Content:[/TD]
    [TD="width: 50%"]99.9% PURE 24KT. GOLD[/TD]
    [TD="class: attrLabels"]Condition::[/TD]
    [TD="width: 50%"]PROOF[/TD]
    [/TR]
    [TR]
    [TD="class: attrLabels"]Fineness:[/TD]
    [TD="width: 50%"]0.9999[/TD]
    [TD="class: attrLabels"]Type::[/TD]
    [TD="width: 50%"]BANKNOTE : $50 U.S LEGAL TENDER IN 24KT GOLD[/TD]
    [/TR]
    [TR]
    [TD="class: attrLabels"]Year:[/TD]
    [TD="width: 50%"]2009[/TD]
    [TD="class: attrLabels"]Weight::[/TD]
    [TD="width: 50%"]6.0 GRAMS[/TD]
    [/TR]
    [TR]
    [TD="class: attrLabels"]Country of Manufacture:[/TD]
    [TD="width: 50%"]United States[/TD]
    [TD="class: attrLabels"]Certified By:[/TD]
    [TD="width: 50%"]JAMES A. SWANSON-THESE BANKNOTES WERE LIMITED PRODUCTION. THEY ARE VERY VALUABLE AND A MUCH SOUGHT AFTER COLLECTIBLE. NOT TO MENTION A GREAT INVESTMENT Comes with a Certificate Of Authenticity and a Independent Laboratory Analysis verifying that it is 24K gold from the mint

    ALL PICTURES SERVE AS PART OF THE DESCRIPTION AS WELL [/TD]
    [/TR]
    [TR]
    [TD="class: attrLabels"]~~~~~~~~~~~~~~~~~~~~~~~~~~~~~[/TD]
    [TD="width: 50%"][/TD]
    [TD="class: attrLabels"][/TD]
    [TD="width: 50%"][/TD]
    [/TR]
    [/TABLE]
  13. kaosleeroy108

    kaosleeroy108 The Mahayana Tea Shop & hobby center

    ok this had a factor of b.s. 9 I can see its not 50 dollars its a 20..aND ITS NOT MADE OF GOLD .. its gold foil..
  14. jello

    jello Old+Long time Member

    Wrong post.
    Aka
    Brain Farther
  15. -jeffB

    -jeffB Greshams LEO Supporter

    Tell him that you'll sell him as many as he wants at $100 each. If he's not interested, as why he isn't willing to buy gold at less than half the spot price. If he is, start buying them up on eBay at $40-50 and passing them on to him. Profit!
  16. AcerDeucerQ

    AcerDeucerQ New Member

    I have to add to this, I am buying, so far 20-30 of these coins so far. I am picking them up for about $2-4 each. I believe they are absolutely fake, I will break one open and post a photo. But the are invaluable to me. They are going to go in my cheap $11 safe with the broken lock, each coin will have an identification number etched(by me and not something I would do to my real coins) and saying "stolen coin". When my home is broken into, they will find these easily and hopefully not bother looking for the real coins and gems.
  17. jello

    jello Old+Long time Member

    I am not sure this note is much or than gold foil. I do know the grade baseball cards something like this. Are scam they claim it 3gram of 24kt but its .003 gram of gold.
  18. Tyler

    Tyler Active Member

    Any company that claims to produce legal tender should be steered far away from. Seriously, how can you fall for that?

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