8 replies to this topic

[CA3LE]

I'm sure you've all seen the National Collectors Mint $50 Gold Buffalo coin comercial.  I was curious how much it was actually worth so I did a little math... the results surprised me.

1 ounce = 28 349.5231 milligrams
Current gold price $1606 per oz
That's about $0.06 per milligram so that coin has $0.79 worth of gold.

... correct me if I'm wrong...

WHAT!  I thought it would be at least a dollar!    Those guys are commin' up hard!   --- that's just evil.  "The original price was to be set at $50... but today it's only $9.95" -- come on, fifty bucks... the price was NEVER to be set at $50... who are they trying to kid?  They have $0.79 worth of gold on the thing and they probably got the gold when the price was cheaper so it cost them even less.  ... The problem that I have with this is that their comercial makes it seem to people like it's an investment opportunity, lol.   Maybe an investment opportunity for the coin maker... Do yourself a favor, if you want to invest $10 in gold, go buy $10 in gold... not a 14mg gold plated POS.  The change in your pocket is worth more.

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[Conuck]

When dealing with precious metals and jewels you  use troy ounces.
1 troy ounce = 31.10348 grams
1 troy ounce = 31103.47 milligrams
1 gram = 1000 miligrams
at $1606. an ounce it works out to .05 a milligram = .65 a coin in gold

[CA3LE]

Conuck, on 26 December 2011 - 03:30 PM, said:

When dealing with precious metals and jewels you  use troy ounces.

my bad... even more so then  

[tommie gorman]

They are trying to show you how to hedge against inflation. They never said for who.    

[mudmanc4]

Either way you look at it , for ten bucks the coin is a keepsake. So you cannot lose if your collecting.

I know what you mean though , old timers are who there after , buying these by the limit for there families.

[CA3LE]

mudmanc4, on 27 December 2011 - 06:25 AM, said:

Either way you look at it , for ten bucks the coin is a keepsake. So you cannot lose if your collecting.

I know what you mean though , old timers are who there after , buying these by the limit for there families.

They don't really market it at a keepsake is my point... they act like it's a solid investment by talking about the price of gold skyrocketing... but then there's only $0.65 worth of gold on it.

... It's still cool though, hell... I'd like one  

[mudmanc4]

I hear you completely. Scam artists are and will always be. People have to be vigilant, or simply use common sense. Which should kick in when hearing the commentator claim as you say " were 50 , now 10 " or the likes. Yes I'm sure there just trying to get them off the shelves to make room for the next product . Special deal , just for you. And the other 50k that saw this commercial lmao

Although overall , I'm sure they'll have to sell pence thousand before pushing any kind of profit.

This remands me of the last one the fed came down on for counterfeiting. Unless it's the same one.

[tommie gorman]

I"d still feel safer buying the real gold.  

[mudmanc4]

tommie gorman, on 29 December 2011 - 09:37 PM, said:

I"d still feel safer buying the real gold.  

Seems to me this gold thing could go either way. Gold was a"bubble" once before , then confiscated by the government. The gold standard was removed quite some time ago , as the fed decided it would be much more simple to manipulate the value of the dollar without having to account for it on a per dollar basis.

Look at the last two "bubbles" , where people bought into, they fell dramatically, as the dollar value was leveled out. Trillions were lost each time. Moneys evaporated into thin air , just as it was created.

Is the question , will the world reset back to the gold standard before implementing the next currency ( a currency that will serve all nations on one equal level ) ? Seems that is the new " thing " everyone equal and get everyone you can on board this notion.

All the signs are there , most everything is ready or completed, or in the process. For this new world order type of society. Generations will pass before an equilibrium returns.

Sound all mixed up ? Because it is , we were mixed up from the start out of complacency .