New 1/10oz. gold coin. ( Or is it ? )

I stumbled upon this coin on the bay and had to post about it. This is a new 1/10oz. gold coin from cook islands. I think it's nice looking, and has good subject matter. It has the Statue of Liberty with flag on the obverse, and the Liberty bell on the reverse. There has been America "tribute" coins produced in the past, but I think this one is a little different. Take a look.
In case you didn't catch it. This is a solid gold coin, (not plated) but the purity is only .24 gold. Not .9999! not .999, not even .9 (90%) this means that this is actually less than 1/4 of 1/10oz. gold, or about 1/40oz gold (not exactly.) Now, why would they make the coin with this low purity you may ask? Well I don't know, what do you think? (sellers pics)
John.

P.S. "BUYER BEWARE"

 

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Why would they make it .24 gold, in order to sell it as if it was .999 gold to unsuspecting parties via clever or borderline unethical marketing of course.

 

Not a bad looking coin, but the .24 purity is obviously meant to deceive, and why the heck is the queen's picture on a USA tribute coin? I would avoid it for that reason as well.

 

My thoughts exactly. Trying to scam folks.

 

And you can be sure that coin has probably never been within 5000 miles of the Cook Islands.

And the queen's picture is on because it has to be by law. She is on all coins from countries for which she is the queen.

 

Beware... National Collector's Mint.

 

I believe I saw this coin was being sold on The Coin Vault a month or so back.

 

If these sell well, I'm sure we can expect to see a companion .999% silver piece.

 

That would be much better than .24 silver. I might buy a .999 silver (or gold ) near spot.

 

But .999 percent (i.e. just under 1% silver)?

.999% makes you think that you're seeing ".999" or "99.9%". It's deceptive in exactly the same way as ".24 pure gold", where you think you're seeing "24k pure gold".

 

I see your point.

 

Or how about a "pure billon" coin? Most wold read that as "100% pure bullion"

 

.24 pure gold .. aka slightly under only 1/4 of that coin is gold.

 

It is something that is decided by the governing authority of the particular country or commonwealth realm. The Bahamas recognise QEII as their monarch but do not have her on their coins. In contrast Fiji became a republic in 1987 and either has or is working on leaving the commonwealth but QEII appeared on their paper money up until last year.

But plastering QEII's vignette over the Liberty Bell is a bit much.

 

I see that the "National Collectors mint" has these for $79 while the EBAY ones were close to $150. (if memory serves) if I'm doing my math correctly, there is less than $35 gold value in these currently. (Aprox.)

 

I have seen these for sale on a couple of websites, i nice looking coin But....
Looks like it has a few issues there, just need to read the wording bottom
Line on what you are actually getting.

 

Maybe a tattoo of the liberty bell on her cheek would have been better.

 

The should have put more space between "A" and "TRIBUTE" as it kinda reads a misspelled "ATTRIBUTE TO THE UNITED STATES" which made no sense when I first saw it.

 

I thought the same thing.

 

Their wording is likely misleading to most people, who would think they are getting more gold than they actually are. Considering their history of 9-11 coins (claimed the silver was sourced from Twin Towers but couldn't prove it. Misled about the amount of silver in coin), this isn't very surprising. Also considering past punishments for those business practices, this again looks like their is intention to confuse consumers. I don't know why anyone would overpay for these garbage "gold" coins; where else do people sell .24 gold?!