A little preview of things to come. I wonder what will happen to the price of Ag and Au once people realize that there is a whole lot of imagination and not much physical?
Yeah lets trust a 28 year old with bad dealings already... The age really doesn't matter but gee bad history would have to make you think twice, wouldn't it ?
"... Amber Gold's 28-year-old founder, Marcin Plichta, who has publicly acknowledged past convictions for misappropriating funds, couldn't be reached to comment..." People who trust someone like this, will just lose their money via another avenue. One such avenue for loss could be via "taking possession of their physical." eg. witness this http://www.ft.com/cms/s/0/f7b05cf2-fcfc-11df-ae2d-00144feab49a.html#axzz23acU9wBa Unless you have every single gram of gold you "take physical possession of" thoroughly assayed, you can't be 100% sure that you're being duped. You need multiple assays. Haven't you ever heard of incorrect assay results, as a result of a laboratory mistake? Happens frequently http://www.miningweekly.com/article/venus-says-yalgoo-assay-lab-results-completely-wrong-2011-11-09 http://www.blackthornresources.com.au/uploads/documents/ASX_ANN_Gold Grade Error_20101213.pdf
"A bird in the hand is worth two in the bush". When you apply this aphorism to precious metals, it means that one ounce of assayed gold is worth two ounces of unassayed gold. In order to assay your gold, you only need to throw worthless fiat (paper spoiled by ink) at the assayer. And to establish 100% certainty in the quality of the gold we hold, the amount of worthless fiat we need to spend is meaningless. PS: And don't even mention XRF folks, because you should all know by now how unreliable it is.
Yes siree... this beautiful coin has been properly assayed, after a small sample was taken via a drill. and the owner of this coin, now feels so much better, because all of his coins have been properly drilled and assayed. So... in the interests of all SS, I am now putting out an ** Emergency Call ** for all silver & gold & platinum coins and bars, to be properly assayed. We all need to be 100% certain of what it is that we are holding. One drill hole is good, but as copper staining shows us, sometimes impurities are concentrated in a certain area of the coin; hence in order to get the best assay results, 5-10 drill holes are recommended - per coin. Remember folks, "a bird in the hand is worth two in the bush." After a while, you learn to appreciate the beauty of drilled coins, because you know what it is that you hold.
not sure if joking or for real... but an assayed coin. I will not be buying one, 15kg bar... yes but coin?! Forget it, just ruined a perfectly nice coin, have to get out scales and a calculator to work out spot value... :| meh
I think your all missing the point of what " ASSAYAD " means It means taking your bullion to a refiner & melting it down ,than sending it of to an independent lab for analyses . So I really doubt anybody is going to do this to coins or small bars
That was just a random image plucked off the web. However, I have seen samples of coins, in various places, eg. Noble Numismatics auction, here on SS, etc, which did have drill holes. And this apparently was the explanation, ie: assay. The drilled core is sent off. Yikes
Drilling coins such as the one drilled above for the sole purpose of assaying it is akin to sending a rapist to check if some girl is a virgin or not. The coins value V before the drill is such V = (weight of PM) + X(a,b,c,...) where X is a function of ie. a ... condition of the coin b... mintage of the coin c... rarity . . . after the drill, most of the components in X lose meaning and the coin starts to trade at SPOT VALUE only and will forever be lost to the lowest rank of physical precious metals. However, the driller/asseyer if carefull could start to collect the gold dust. - I mean, its nice to see inside it, but not at the cost of deliberately defacing the coin. Check with numismatists when you have questions regarding the authenticity of any coin.
And you'll find occasionally old US Silver dollars that look like they have claw marks in them , That's how they used to check for fakes 100 years ago ,take a small chunk out of it & see what's underneath
Shhh. Don't broadcast it to everyone. Black_Sun and I have been getting PM'd like crazy in the past 15 minutes.
Poland,Bolivia...what next? High Purity coins from the Syrian Mint ? I will stick to buying fro Ozzie dealers and SS site sponsors thanks.
There are coins which have been heavily drilled. ie. See below part of my Ottoman gold coin collection Most of them have been drilled and slowly turned into jewellery which is usually worn by females on special occasions ( weddings etc ), in fact, the villages of the regions ruled by Ottomans in the past are full of such gold coins. I know for i have attended their wedding parties, and always have to be extra careful when i am looking at those coins because the wearers may mistake me for a pervert or something coming back to the coin talk now - with Ottoman coins, it is very rare to find them undrilled, and they always carry a much higher premium.
YES I've been advised by more than 3 dealers to . Purchase coins/bullion from what ever country your in . My first few gold purchases were old Russian gold Rubbles , & all the dealers asked my why . I said I'm Russian why not ? Because most people don't know them & harder to sell ,so I sold them & bought Sovereign instead ,nearly the same gold content & way easier to sell . So now the only Russian stuff I have is pure NUMI & spot plays NO part in they're value . I have a 1818 Silver 4 Rubbles 28gm of 900 ,I paid $250 & that was cheap .
THUCYDIDES79, I remember seeing these coins when you posted them some time ago. 1600's weren't they? Can you remind me what the weights are?
