Is this deal too good to be true?

Discussion in 'Gold Coins' started by Ausecon, Nov 28, 2011.

  1. Ausecon

    Ausecon Member

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    Hi all,

    So i got an email from a guy i don't really know that well after i got chatting to him about gold silver a while back.

    Anyway, the guy has offerred to sell me the following (all in USD):

    1 x 1850 P $20 Gold Liberty head (US) - $2,100 (Grade 63)

    1 x Swiss Pamp 1oz Gold Bar - $1,100 (Grade 68)

    1 x 1967 Krugerrand 1oz Gold Coin - $1,150 (Grade 67)

    1 x 1978 CC Morgan Silver Dollar (US) - $125 (Grade 65)

    1 x 1874 P $ Indian Princess Coin (US) - $1,200 (Grade 65)

    1 x 1838 P $10 Libery Gold Coin (US) - $6,000 (Grade 70)

    Now i really have no idea about any of these coins. Intuitively the 1ozers seem like a steal (well below spot?) and having googled a few of the others, they also seem like a bargain.

    I've asked for photos and will post if i get them.

    My real concern is that this could be a scam as i don't know this guy that well and the pricing seems to good to be true?

    Anyone have any views on what the above are worth and why he might be selling for these prices? Also - who is familiar with the Grading system, presumably the higher the better but where do they fall?

    Thanks alot
     
    Ausecon, Nov 28, 2011
    #1
  2. Diablo21

    Diablo21 Member

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    I wouldn't buy them, this seems like a scam. Why on earth would he sell you gold for $600 below spot.

    If it seems to good to be true....
     
    Diablo21, Nov 29, 2011
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  3. renovator

    renovator Well-Known Member

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    If he will do a F2F in the local police station or bank give it a go .
     
    renovator, Nov 29, 2011
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  4. Ausecon

    Ausecon Member

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    So it's fair to say my assessment that the prices are materially below market is correct.
     
    Ausecon, Nov 29, 2011
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  5. Diablo21

    Diablo21 Member

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    Yes.
     
    Diablo21, Nov 29, 2011
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  6. goldpelican

    goldpelican Administrator Staff Member

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    Very common to see eBay scams selling gold well below spot - unless this is a face to face transaction and you are comfortable you are able to verify that the items in question are gold (they sound slabbed - who slabs a Krugerrand?) it is 99% likely to be a scam.

    Slabbing is an easy way of deterring testing items for actual gold content. I've seen fake slabbed gold pandas sold in a Melbourne store - luckily the buyer walked them to another store with an XRF and was able to verify they were gold plated copper fakes. The slab hides the extra thickness of the coin.

    Too good to be true? Usually is.
     
    goldpelican, Nov 29, 2011
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  7. fishball

    fishball New Member Silver Stacker

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    More like who grades PAMP bars!?!?? wtf!

    Never heard of a graded bar before lol
     
    fishball, Nov 29, 2011
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  8. thatguy

    thatguy Active Member

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    Dunno much about grading BUT MS70 for a 1838 coin, lol
     
    thatguy, Nov 29, 2011
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  9. Ausecon

    Ausecon Member

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    Thanks guys - i'll see if i get any photos!

    Cheers
     
    Ausecon, Nov 29, 2011
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  10. Sargeant Argent

    Sargeant Argent New Member

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    Stay away I'd say its pretty much guaranteed a scam. You'd be much safer buying off a reputable dealer or even in the sales section of the forum. People will not sell gold bullion for way below spot if they can go sell close to it with pretty much no effort.

    Save your money and the heart ache.
     
    Sargeant Argent, Nov 29, 2011
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