Look at these poor souls, still paying 1/10 oz prices for the Cook Islands .24 pure gold coins. Cook Island 1/10 .24 Pure Gold | eBay I was interested in the coin for its gold value before it absolutely skyrocketed. I wish people would realize that it is not 24K, it's 24%. They still pay 1/10 oz 9's prices after seeing others sell for $55-70! Thanks, National Collector's Mint.
The seller isn't trying to trick them, they clearly state that it's 24% gold in the title and description. Some of the bidders didn't read the description, or the title!
Sadly, a lot of bidders see ".24" and think it's 24K. I appreciate, though, how the seller did not try to trick them. It was just pure buyer's lack of knowledge, as the hammer price was $244.50. That was exactly what the NCM was looking for when making 24% gold coins: tricking people into thinking .24 was 24K. For decimal points, I do like the .24 pure gold coins, as if you watch, you can get them for almost nothing over melt. Otherwise, my preferred decimals are .9, .925, .999, and .9999.
Good on the seller, but the only conceivable reason for making and marketing a coin as ".24 gold" is to trick people into paying as though it were 24K. Even honest attempts to sell them leave a bad taste in my mouth.
Yeah clearly that's misleading, tricking people into thinking .24 is the same as 24k. https://about.ag/FakeCookIslands24Gold.htm Never heard of these, but it's not good. Bet they sell even better than those COPY $50 gold buffaloes that are 24k gold-plated... worthless.
It’s all about the item and how it’s marketed. Doesn’t matter whether to clean or not. Something is produced and then it’s marketed. The problem is people don’t read the full description. They also jump to conclusions. Not the sellers fault.
Almost want one of these for the novelty of it. I mean, it's worth something, and does contain some gold (0.024 troy oz of it), just don't pay more than about $50 for it or you're getting ripped off. (As of the time I typed this 0.024 troy oz. of gold was worth $56.04 US.)
Wow, that is intentionally deceptive. Shame on Cook Islands for eroding trust, and shame on that seller for marketing them.
It really does make me wonder. If I was to sell one, I would likely put .24 gold in quotation marks and state the AGW of .0024 oz. I do think they make decent gold buys if you can get them for an accurate price, but not as 1/10 oz in 9s. If I can get mine for $50, I'd take them all day because the simple fact is, you can be honest all day and people will still pay 9s prices for those pieces. I think the NCM used the Cook Islands to make these coins appear "government-made" so people would believe it is a sovereign bullion coin. I have a 1/2 oz silver Cook Islands coin, and while I don't know if they truly made it, you can about bet that the NCM is scamming people with the CI name on the coin. It was the same tricks as the American Mint with the Liberian gold pieces.
I don't think I would blame Cook Islands, they didn't make it. They sell the rights for others to make coins in their name for a fee and possibly a percentage of the profits. They probably don't have anything to do with the design and marketing.
They have a few varieties: https://en.numista.com/catalogue/index.php?e=iles_cook&r=".240"&ct=coin Some more info: https://learn.apmex.com/learning-guide/world-mints-and-manufacturers/cook-island-coins/ https://ncmint.com/search.php?search_query=cook islands
Yes they are. Slipping "Pure Gold" into the description is only for the purpose of misleading people.
