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- - Good Deal or no? (http://goldismoney.info/forums/showthread.php?t=356048)

ng1469 | 03-06-2009 12:12 PM
Good Deal or no? I have a chance to get a 2008 1 Oz. GAE for $810. Think i should jump on that as fast as possible?

1981 | 03-06-2009 12:13 PM
Re: Good Deal or no? Yes, go for it. You'll get a coin for about $120 below spot that usually sells for $60 over spot. Edit: An '09 would cost you $1001.35 at Apmex right now.

goldminer | 03-06-2009 12:31 PM
Re: Good Deal or no? Better use caution! US$100 sounds like a deal too good to be true... which in most cases is, and entails a fake or other fraud.

MrRational | 03-06-2009 12:49 PM
Re: Good Deal or no? Yeah, it sounds a little too good. Post the details if you are worried its a fraud.

blueice | 03-06-2009 01:12 PM
Re: Good Deal or no? Quote:
Originally Posted by ng1469 (Post 1611004) I have a chance to get a 2008 1 Oz. GAE for $810. Think i should jump on that as fast as possible?
NG, please remember that if you get screwed you will be institutionalized...

ng1469 | 03-06-2009 01:17 PM
Re: Good Deal or no? I offered $750 and they declined. Wouldn't you just accept for anything near the asking price if it was a fake? ps i offered 750 before i posted it on here, now im starting to think you all might be right though...

Sparky | 03-06-2009 01:29 PM
Re: Good Deal or no? The owner could take that coin into any coin shop in the U.S. and get more than $900 immediately. Why are they selling to you at $810?

Skorp | 03-06-2009 04:01 PM
Re: Good Deal or no? It could also be stolen and just need to be turned quickly. Use caution, you don't want to get involved in stolen property.

pastexperience | 03-06-2009 05:07 PM
Re: Good Deal or no? I have a friend who purchased a 50 oz Johnson Mathey GOLD bar at 100$ below spot/oz. Guess what, after keeping it for 20 + years, he wanted to sell it, he decided to have it drilled (was never comfortable with the price he paid it), and found out it was Gold over lead (or some other material). If someone was honest he would not sell it way below what he could get for it. If someone was honest he wouldn't offer way below the actual value! I try to only do business with honest people. As for my friend he keeps that paperweight on his desk to remind him that if somethings too good to be true it usually is. Everytime someone approaches his desk with a foolproof plan, or stock tip, he points to it!

triplelake | 03-06-2009 05:20 PM
Re: Good Deal or no? Basically, the seller is giving you $100 to make the deal. You have to ask yourself if there is any reasonable explanation for that.

ng1469 | 03-06-2009 05:51 PM
Re: Good Deal or no? What you are all saying is absolutely true, and it is much better to learn from other peoples mistakes than your own. :thumb.aspx: Thanks for the advise, maybe if i can get the guy to agree to get it authenticated or let me see it before i buy it than thats a different story.

latemetal | 03-06-2009 09:39 PM
Do you have a Fisch wallet? How do you intend to verify the coin? Scale and calipers? If you are sure the coin is real, where would you do the exchange? I would meet the seller at my bank lobby or some other very public place and check the coin thoroughly.:ok: Quote:
Originally Posted by ng1469 (Post 1611004) I have a chance to get a 2008 1 Oz. GAE for $810. Think i should jump on that as fast as possible?

grinningdog | 03-06-2009 09:41 PM
Re: Good Deal or no? People sell them to pawnshops everyday for less than that.

clyderose | 03-07-2009 06:32 AM
Re: Good Deal or no? You guys are way to paranoid. I also smell a bit of jealousy. Just weigh it,measure it,compare it to a picture if nessesary,pay the man,put it in your pocket and consider it a done deal. people sell gold for less than spot every day for many different reasons. CR

ng1469 | 03-13-2009 12:05 AM
Re: Good Deal or no? Ok so I finally got a reply from the guy with the spec on the coin. He says its 33.9g and a thickness of 2.87mm. I know these specs are right, but they are almost too right. I understand getting the weight perfect, but measuring the thickness is a little tougher and requires more precise tools. I asked him to send me some pictures of it. What do you all think. Am i being too paranoid or do i have reason to be skeptical?

Curmudgeonista | 03-13-2009 12:51 AM
Re: Good Deal or no? Quote:
Originally Posted by ng1469 (Post 1622696) Ok so I finally got a reply from the guy with the spec on the coin. He says its 33.9g and a thickness of 2.87mm. I know these specs are right, but they are almost too right. I understand getting the weight perfect, but measuring the thickness is a little tougher and requires more precise tools. I asked him to send me some pictures of it. What do you all think. Am i being too paranoid or do i have reason to be skeptical?
Drawn out over this much tme? Priced below spot? And not a face-to-face deal? You definitely have reason for skepticism. If this deal were real, at that price it would have long since been snapped up. I smell scam. Oh, and photos are worthless. How would you know if he sent pics of the same coin he planned to sell you?

AGRO | 03-13-2009 12:53 AM
Re: Good Deal or no? Quote:
Originally Posted by ng1469 (Post 1622696) Ok so I finally got a reply from the guy with the spec on the coin. He says its 33.9g and a thickness of 2.87mm. I know these specs are right, but they are almost too right. I understand getting the weight perfect, but measuring the thickness is a little tougher and requires more precise tools. I asked him to send me some pictures of it. What do you all think. Am i being too paranoid or do i have reason to be skeptical?
Or he could just look online. . . Can you find out why this person is selling? Then maybe you will find your anwser and be able to decide if your normal paranoia is really just cautiousness...

triplelake | 03-13-2009 01:00 AM
Re: Good Deal or no? I got a 1oz kangaroo for $880 last week. The deal was a win-win deal and both sides were happy. With your deal, only you yourself knows whether that person really has any incentive to sell you the coin for $100 below spot. I think this is a scam unless you are hiding information from us.

AGRO | 03-13-2009 01:14 AM
Re: Good Deal or no? Yes be careful on this one.

ng1469 | 03-13-2009 01:18 AM
Re: Good Deal or no? Quote:
Originally Posted by triplelake (Post 1622755) I got a 1oz kangaroo for $880 last week. The deal was a win-win deal and both sides were happy. With your deal, only you yourself knows whether that person really has any incentive to sell you the coin for $100 below spot. I think this is a scam unless you are hiding information from us.
Why would I be hiding information? I'm trying to get your input on this. I'm just getting a bad feeling, I think i might just stop contact all together. If he was really desperate to sell it, I would think he would be contacting me within a few hours or less than a day. Oh well, was hoping to make a quick buck off of it, but would probably have ended up losing money I think.

triplelake | 03-13-2009 01:43 AM
Re: Good Deal or no? Quote:
Originally Posted by ng1469 (Post 1622777) Why would I be hiding information? I'm trying to get your input on this. I'm just getting a bad feeling, I think i might just stop contact all together. If he was really desperate to sell it, I would think he would be contacting me within a few hours or less than a day. Oh well, was hoping to make a quick buck off of it, but would probably have ended up losing money I think.
Sorry, I didn't mean that you were hiding info. I was just saying that given the info you provided, the deal seems more like a scam.

californiajeff | 03-13-2009 01:53 AM
Re: Good Deal or no? Quote:
Originally Posted by ng1469 (Post 1622696) Ok so I finally got a reply from the guy with the spec on the coin. He says its 33.9g and a thickness of 2.87mm. I know these specs are right, but they are almost too right. I understand getting the weight perfect, but measuring the thickness is a little tougher and requires more precise tools. I asked him to send me some pictures of it. What do you all think. Am i being too paranoid or do i have reason to be skeptical?
Get a digital caliper. It will run you $15 or so and it could save you from spending close to a grand on a possible fake coin. Buy one off ebay or ask your local jeweler or coin shop where to get one locally.

ng1469 | 03-13-2009 02:38 AM
Re: Good Deal or no? Quote:
Originally Posted by californiajeff (Post 1622817) Get a digital caliper. It will run you $15 or so and it could save you from spending close to a grand on a possible fake coin. Buy one off ebay or ask your local jeweler or coin shop where to get one locally.
Only problem is, the guy isn't within driving distance so I can't go and see the coin before I buy it.

Ragin1 | 03-13-2009 10:25 AM
Re: Good Deal or no? Quote:
Originally Posted by pastexperience (Post 1611529) I have a friend who purchased a 50 oz Johnson Mathey GOLD bar at 100$ below spot/oz. Guess what, after keeping it for 20 + years, he wanted to sell it, he decided to have it drilled (was never comfortable with the price he paid it), and found out it was Gold over lead (or some other material). If someone was honest he would not sell it way below what he could get for it. If someone was honest he wouldn't offer way below the actual value! I try to only do business with honest people. As for my friend he keeps that paperweight on his desk to remind him that if somethings too good to be true it usually is. Everytime someone approaches his desk with a foolproof plan, or stock tip, he points to it!
Not necessarily true. I have an 1834 bust half in very good shape. Got it in a box lot of 100 foreign coins for $5 I put it on craigslist for $30. I just looked on ebay and the coin is posted over $400 and doesn't look any better then mine. It all depends on how and where the coin/bullion comes from.

pastexperience | 03-13-2009 02:35 PM
Re: Good Deal or no? Quote:
Originally Posted by Ragin1 (Post 1623298) Not necessarily true. I have an 1834 bust half in very good shape. Got it in a box lot of 100 foreign coins for $5 I put it on craigslist for $30. I just looked on ebay and the coin is posted over $400 and doesn't look any better then mine. It all depends on how and where the coin/bullion comes from.
I would definately agree with you when it comes to numismatic items. I too have found some great stuff in lots that I paid practically nothing for. But when it comes to Bullion, its another matter. Bullion can be exchanged for the Crimex price at almost all banks, jewlery stores etc.... I can understand someone who wants money quickly to sell things at a good price, however since GOLDISMONEY, it would be like someone wanting to trade a 100$ bill for 90$.

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