Another one to report.

I agree that the auction does not rise to the level of reportability but it is sleazy and another example of what makes eBay a snake pit.

 

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Horse walks into a bar. Bartender asks him "Why the long face?"

 

I will agree with you on that one.

 

Even my cat knows you can't buy an ounce of gold for $4.25

 

I understand that we can't get the answer to motivation of the seller (other than to make a profit). Can anyone say they collect these? Seriously - does someone collect these? Is there a hobby here? Why are they made?

 

Remember P T Barnum

 

Man, an egress huh? Dang, I need to see what an egress is......

 

Maneki Nekko

 

I saw these auctions a few weeks ago and found them to be ridiculous. These items really do serve no purpose; to my knowledge they aren't even based on a historical item. I think I did report it at the time, based on the fact that it's being called bullion when it's simply plated. (I know those bullion buyers are just itching to get their hands on, what is it, 24mg pure gold per transaction) Suprised there isn't a "limited number" of them available haha. I'd like to see the Pawn Stars test the shavings on that crap heeheehee.

 

Some people need to have their hand held in life.. personal responsibility? Ha! Others believe what they want too and there is little we can do to change this. While the listing and item is questionable, anyone believing that they can buy an ounce of gold for $100 or under (the end price of many completed listings) got what they deserve. Its the bargain mentality that allows for this, and once people accept that there are no free lunches, maybe it will stop.... but I would not hold my breath. Caveat emptor.

 

I'm more concerned by the seller's implication that it's an item produced by the Reichbank prior to 1945.

The funniest part of the whole blurb is where the copywriting Shakespeare says "BEWARE OF IMITATORS".

 

I am a firm believer in caveat emptor, but that does not allow me to overlook items created with the intent to deceive. If I were a strict caveat emptor, I would not care about chinese fake coins. The fact people are producing fake coins is upsetting to me, even though I believe its the buyers responsibility to check things out.

Same with this item. The fake a bar is being sold that is gold plated but states .9999/1000 pure gold on a bar that looks like a bullion bar. Just the fact this is made and will someday probably make someone believe they own a solid gold bar upsets me.

 

I just re-read the description and the only mention of the Reichbank is the description of the Reichbank symbol that was used from 1876 - 1945, which appears on the back of the bars. Not that it was made by the Reichbank.

 

The only thing that saves using that symbol from being illegal is the fact that there is no longer a Reichsbank....
Try minting coins/printing bills with the US Mint/BEP logos. Bet there would be an issue with that.
Even using a more pertinent example: use the "O" or "CC" mintmark on your privately made pieces.
Chances are that without "COPY" struck into the coin or an explicit description of it as a "fantasy piece" you would also run into some trouble.

 

Therein lies the problem with the OPs crusade against this listing.

He doesn't understand that the HPA relates to numismatic items only, and there is nothing regulating the production of plated bars.

 

Fine points all, especially the comparison to coins although apples and oranges could argued. This type of listing and product upsets me to, but could be looked at as just another example of why due diligence is so important today. Personally (and you may agree) my concern with things like this is more in what happens down the road than with the listing itself. I've had more time wasted because of knockoff bars and counterfeit coins than I care to remember.. some knew well what they had and were hoping for a score while others did not, and its the latter that can be heart-wrenching. Anyone who has ever had to look another person in the eyes and tell them their X is fake/worthless should know what I am talking about. Even though its easy to feel bad for the duped, in many cases just a little common sense and/or effort on their part would have gone a long way. This goes right back to the bargain mentality mentioned earlier. Most people I've encountered bought because dollar signs appeared in their eyes and clouded their judgement. Anyone willing to lay down good money on a coin or metal needs to take the necessary precautions. Deception (unfortunately) comes with the territory, and while a utopian playing field would be great, its not reality.

 

Yes I do agree. I may be more heightened to this since for years I had any non-US coin at our club's coin show brought to me for identification, and its hard to tell family members repeatedly year after year grandpa's "treasure" is a cheap reproduction.

I worry about auctions like this mainly because of what will happen to non-collectors in the future more than today's auction. Having so much fake material around seriously gives this hobby a black eye over and over.

 

I admitted in a previous post that, in haste, I actually bought a silver-plated item similar to this one (Yes, I know this one is gold). I realized it just as I pulled the hammer and then obsessed over what I should do. What I finally did was to notify the seller that I had bought in error and offer to pay if he would not release me from the sale. He did release me, so that was that, but it did make me wonder how many people were sitting on these things in ignorance.