Do you think gold bars like this are created to trick people?

Discussion in 'Bullion Investing' started by Peter T Davis, Mar 23, 2011.

  1. Peter T Davis

    Peter T Davis Hammer at the Ready Moderator

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  3. DarkDonnie

    DarkDonnie New Member

    I think it is probly created to scam/trick people. There are websites claming they are selling gold bars but they sell them for 10 dollars.
     
  4. Guardian1

    Guardian1 New Member

    Of course it's there to trick people, especially since it doesn't specifically say in the title PLATED. eBay is a tricksters paradise with sneaky wordings, crazy shipping and handling fees. Have to be careful with that place.
     
  5. garfiun1

    garfiun1 New Member

    Ive been an ebayer for about 5 years and luckily enough only ever been caught out on some listings like this and its not often sellers of these type of bar put plated on there anywhere.
     
  6. Coin Chick

    Coin Chick Loves Gold

    I bet lots of people are thinking they got a great deal. Feel sorry for those that get taken like that.
     
  7. thiefraccoon

    thiefraccoon New Member

    Oh man this is sad. I bet there already so many people tricked by this.
    They probably bought it, received it, and was ecstatic about it, then put it away in their closet for safe keeping.
    Those people won't even find out that it's fake until they try to sell it...
     
  8. codenman

    codenman New Member

    How much are they selling it for? I did some research around the net, and this is what I found:


    100 mills is = $ .14 cents of pure gold

    500 mills is $.72 cents of pure gold
     
  9. Peter T Davis

    Peter T Davis Hammer at the Ready Moderator

    Well, that particular auction that I linked ended at $18.25.
     
  10. codenman

    codenman New Member

    Wow, so they had made around 10-12 dollars profite after the costs of everything. A good way to scam people I guess eh?
     
  11. codenman

    codenman New Member

    So Peter, these bars are pretty much the same as those coins on tv they sell for $50 saying it's the best deal ever? Or are those actual "real" gold?
     
  12. johandr

    johandr New Member

    hmm, this actually got me an idea :D
     
  13. Peter T Davis

    Peter T Davis Hammer at the Ready Moderator

    I'm not sure, I don't recall seeing them on tv. I wouldn't be surprised to see them on tv selling at $50, after all it's expensive to sell stuff on tv and they have to justify the profit margins. A good rule of thumb for you is to not buy anything you see advertised on tv with a "call now" type offer. That goes doubly for gold, rate coins, and things like that. Always research it on the web prior to buying, you will almost always find a better way if you do your homework first.
     
  14. garfiun1

    garfiun1 New Member

    These bars were actually selling on ebay for a lot of money yesterday. I think people didn't do their research.
     
  15. Coin Chick

    Coin Chick Loves Gold

    I have seen lots of coins advertised on TV. I would never buy any of them.
     
  16. thiefraccoon

    thiefraccoon New Member

    Oh man... What a ripoff! That scammer guy is probably making a nice pile of money, though...
     
  17. BullionFace

    BullionFace New Member

    Oh yeah, those were all over TV for quite some time. And they really do claim to be solid gold half dollar sized coins, which they're selling for 50$.... Really, come on lol.

    But Coden, yes, those bars are fake.
     
  18. thorax11

    thorax11 New Member

    When it comes to gold some people throw logic out with the bath water. Gold is so hot right now that people are buying without forethought or knowledge. Why do all of that hard research when I can get it on Ebay for next to nothing. Theres a sucker born every minute I guess, and on Ebay suckers are taken for a ride every second.
     
  19. vest007

    vest007 New Member

    He is not scamming anyone. Everyone knows they are buying the gold plated bars. The guy is having a huge 99.1% seller approval rating and it is extremely hard to get that6 in ebay if you do scams or trick people.
     
  20. Gamer

    Gamer New Member

    Totally agree, and I wish I would've known this earlier in life, I would have avoided some annoying incidents..
    At any rate, this type of scam is rather simple, buy tiny amounts of gold, coat it on the cropper with some cool design, add a nice story in the description, and mention somewhere that's it's coated in gold and but write it in real small letters.
    This really adds up to a lot of 'stupid' money, that is, money from stupid people that you obtain without much effort.

    He's not directly scamming, but the fact that the gold costs about a dollar, and he says it's a great deal for about 20$, kind of seems like he is scamming stupid people. Not everybody who buys this is stupid, some just didn't notice the small writing saying that it's only gold coated.
     
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