that yells a fool and his money are soon parted. dont beleive me? read here This week, the Numismatic Guaranty Corporation (NGC) and participating vendors are announcing the debut of a new coin service - certification of authenticity of bullion coins that can be held by precious metals Individual Retirement Accounts. The main bullion-priced product for which this is expected to be used is the one-ounce gold American Eagle. One requirement of precious metals IRAs is that the merchandise must be stored at an independent facility. If an investor is holding a 20-coin tube of American Eagles in an allocated account, for instance, there really isn't any proof that a particular group of 20 coins is the same one originally received for that investor. With the new NGC certification, each coin will be encapsulated in a holder that identifies the coin by issuing country, denomination, date, gold purity and content, and by an individual serial number. This makes it possible for each of the 20 coins in this hypothetical example to be specifically identifiable as being the exact same coins as originally received. This certification service will cost less than others because NGC will not be grading the coins. It looks like the retail cost for this certification will be about $10-15 per coin. For most knowledgeable investors, this is an unnecessary expense. But, for those who are not as knowledgeable or who are extremely wary, this extra certification of authenticity could be considered as low-cost insurance. still not convinced read more here http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=6679
NGC found a way to make extra money from other people. Very smart of them to do this, but if I were the holder of these coins, why would I care. It is just bullion and it is a retirement account. But if I were the owener of NGC I would suggest that to make extra money. Too bad PCGS or other complany didn't do that. Hey if it works for NGC, good for them.
***Disclaimer*** If anyone here has a pool account or allocated account, I apologize in advance for my ignorance of why this is beneficial for your particular situation. I mean nothing that is said below to be directed toward you. All comments posted below are merely the opinion of the poster, and do not represent the views of CoinTalk, the interwebs, or any other individual or entity. /start rant You'd have to be a schmuck to have precious metal in an allocated account. //end rant
them -there fools out there....... :mouth:hahhahaahah:mouth:.....any thing to take a buck from collectors!!!! :crying:
It's really staring you in the face good Dr. Start your own TPG service and offer to do what NGC does.
but i have ethics. eureka the first thing u need to do is to get rid of ethics and then enter the tpg business
Hmmmm, If I remember correctly the only bullion coins you can keep in the IRA accounts are the US eagle products. If they are just common bullion then what does it matter which coin you have as long as they have the right amounts? And if they are high end graded that you have for "investment" they already have serial numbers that allow identification of specific pieces. What this sounds like is the chance to pay for slabbing with no grading of generic bullion.
Good point. The only reason I can think of is that it might be easier to have your coins returned in the event the custodian goes out of business without enough bullion to satisfy all account holders. In that case, specific identification might be handy, although expensive.
So, Spock, do you have the ability to spot counterfeit AGEs? Does anyone who doesn't have that skill and still wants to buy AGEs, yet not worry about the authenticity of same, a "fool"? Just wondering....Mike (who is not so quick to judge others)
