TV coin ads Exposed

But, but what about avoiding future regret and disappointment......

 

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I am actually thankful for this post and everyone's comments as I didn't know it was a scam and was actually about to break open my wallet for one of the coins (on a few occasions) to by a coin.

Thanks.

 

They are required by law to have "copy" stamped on them and if you buy them over the TV etc they will. My grandma (I guess not knowing better, even though I sent her my list saying not to buy coins from TV) bought me a 24K 31mg gold buffalo coin. It came complete with the 'certification of authenticity' from the infamous national collectors mint. It says on it, 'gold content: 31mg". That's milli as in thousands of a gram right? It really only has 31 thousandths of a gram in it? (

 

I saw a gold buffalo copy with the 34 milligrams of 24 carat gold on tv last night thought it was a deal until looked up how much 34 milligrams of gold was worth.

 

Yeah, it can't be much at all. If you think about it, a gram of gold from one of the major refinery companies goes for about $60, I think there's 33 grams in a troy ounce.

So 31 milligrams must be 31 THOUSANDTHS of a gram, right? Or 0.0031 gram?

I wonder how much that is worth..

 

all of $1.10

0.031 grams ÷31.1035 grams/troy oz x $1,102.83/oz = $1.10

 

Shocked I say!

 

Oh YES THEY DO!!!! Find a copy of the hobby protection act and you will find that they are covered under it. They would be classified as an "imitation numismatic item" and as such do have to be marked COPY.

 

A couple of days ago I saw an ad for a 1877 Proof copy of a gold coin made of real gold.A bonus of a copy of a walking half dollar.The guy said "copy" really fast.

 

Yes I saw the commercial also last night watching MNF and thought of the discussions about these 31 mil coins. Looked impressive and I can see how some people that dont know can be fooled. What a shame.

 

This commercial is even on at noon on ESPN. What do you think that says for sports fans? I have to say though, there is some tricky wording in the commercial. Soon you're going to see a ton of football fans with a safe full of fool's gold.

 

My bad--After a closer inspection of the TV ad, I saw the "copy" imprint on the Indian's braid.
Sorry--Poppa

 

I saw that too, but it looks to me like they made COPY in RAISED letters, and if they did then these things ARE in violation of the Hobby Protection Act. COPY has to be incuse.