Today is Sunday, 21st December 2014

American Gold Buffalo Coin Scam – Review Seen on TV

You’ve probably watched the ad on TV and wondered what the deal is. The ad states “This $50 gold piece is the purest gold coin ever struck by the US government.” Call now and you can get your own for only $9.95 plus $4.95 for shipping and handling. First off this is not a real government issued coin. It is a replica of the purest gold coin ever minted by the US government. It is merely a collectible coin. It does not have any monetary value. You should not be looking to buy this type of coin to invest in gold coins. You can compare it to those Barack Obama collector plates that were popular when he became president.

But of course the commercial does not make it seem that this is the case. The commercial puts special emphasis on the price of gold skyrocketing past $1000 an ounce. They also emphasize that this Buffalo gold coin has 14 mg of pure 24 karat gold. What? how much gold is that exactly?

 

How much is 14mg of gold worth?

Not so much, read on.

14 milligrams is equal to = 0.000450110452 troy ounces.
On 12/27/2011 the spot price for one troy ounce of gold was $1,608.50.
0.000450110452 x $1,608.50 = $0.72.

It probably costs them more to make the coins themselves (although not much) than the amount of gold they contain.

The certificate of authenticity would make better toilet paper, hopefully it’s nice and soft.

You are not buying a real Gold American Buffalo nickel. You are merely buying a copy proof or replica with no monetary value.

Mike

Tech writer and creator of this blog. Living the dream of self employment under the warm Florida sunshine. I write about a lot of different things, tech, internet marketing, and search engine optimization. I love helping people find useful and helpful information. You can find me on many social networks and very active in the local music scene of Tampa Bay, FL Our Sponsors help keep MichaelQuale.com Alive and improving. Connect with me on Google+

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  • Jeremy5434

    You can figure that for almost anything you buy a jumbo pizza may cost $20 but only $3 to make it.

  • http://profile.yahoo.com/VDHKLKUI5MVQ24ZFKQ6PPDI2BQ Maricela

    Too late I already bought some, I ordered 3 and they send 4 ofcourse charging me for all 4 of them.  They are nice until you see the big COPY Stamp on them.  I had bought for my son as a birthday gift and he was really dissapointed when he saw the Copy on them! Im going to try to get my money back!!

  • Tamiwhit

    Thanks that make since

  • Gsymoens

    It equals to 0004 Oz of gold which equals bout 60cents cash value

  • Marissa

    So happy you wrote this & it shows early on Google. I get so mad every time I see those ads. They talk about the originals and barely mention the fact that they’re selling a worthless copy. 14mg of gold is crap. Thanks for this comprehensive entry. I hope you save some people from being ripped off.

  • George

    I figured they were only replicas when the last 2 in 2012 was crooked in the commercial

Translation


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