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I visited my LCS today and the owner told me about a regular customer of his who came in this morning to show off the "good deal" he got on Sunday from Craigslist when he purchased three 1 oz gold Mapleleafs from a complete stranger. The owner told me they looked pretty good but with with a couple quick tests he had determined unquestionably that all three were fakes--so much for the good deal.

(Update): I visited my LCS today and inquired as to the specifics on the three fake 1 oz gold Mapleleafs. The owner said all three were dated 2012 and had outstanding details. The weight & diameter were correct but as soon as he held one he could see that they were too thick. He added that they had extra thick gold plating. He said that the buyer was experienced enough and should have noticed they were too thick but he got greedy and didn't take anything with him to make any tests--comparative or otherwise.

ouch!!

Did the LCS guy tell you what specifics he noticed?

OneBiteAtATime wrote:Did the LCS guy tell you what specifics he noticed?

Since gold is out of my league I didn't ask any specifics. Had it been ASE's I would have wanted all the details. I will however ask him the specifics on my next visit in a few days.

pennypicker wrote:I visited my LCS today and the owner told me about a regular customer of his who came in this morning to show off the "good deal" he got on Sunday from Craigslist when he purchased three 1 oz gold Mapleleafs from a complete stranger. The owner told me they looked pretty good but with with a couple quick tests he had determined unquestionably that all three were fakes--so much for the good deal.

Just like baseball cards huh Don? Different assets, but the same scams.

guessing a "good deal's" price....premium or LACK of, we're talking anywhere from a 3900 to 4200 dollar whamming....man...good grief....and that makes me ask myself the question...whats the dollar threshold, where I begin to think of doing bad things in return, ex post whamming?.....and 4200 dollars is right at the threshold, where I begin to think "medeval"........now a "good deal" on a roll of ASES is say $440.....2 over the board......getting whammed for 440?......no, $440's an azz beating should offender be caught......but 4200?....that's over 3 ranch payments...we start sailing in whole new waters then...I gotta stop thinking of this.

neilgin1 wrote:guessing a "good deal's" price....premium or LACK of, we're talking anywhere from a 3900 to 4200 dollar whamming.

Yes the buyer mentioned how good it felt not having to pay the dealer premium on the lot. He didn't pay the premium but he did "pay the price". The LCS owner told me that Craigslist scammers play upon people's greed.

CardsNCoins wrote:

pennypicker wrote:I visited my LCS today and the owner told me about a regular customer of his who came in this morning to show off the "good deal" he got on Sunday from Craigslist when he purchased three 1 oz gold Mapleleafs from a complete stranger. The owner told me they looked pretty good but with with a couple quick tests he had determined unquestionably that all three were fakes--so much for the good deal.

Just like baseball cards huh Don? Different assets, but the same scams.

You got that right Nick. .

pennypicker wrote:

neilgin1 wrote:guessing a "good deal's" price....premium or LACK of, we're talking anywhere from a 3900 to 4200 dollar whamming.

Yes the buyer mentioned how good it felt not having to pay the dealer premium on the lot. He didn't pay the premium but he did "pay the price". The LCS owner told me that Craigslist scammers play upon people's greed.

what i'm talking, as you can read between my lines, is at what level does the seller "pay the price"?

God only knows what the future looks like, and at a post dollar environment where hard currency trades, where food is precious, water is precious, the margin between having enough to eat, enough to trade, plastic cards aren't any good, and people trade in "swap meets", how LONG do you think that this fake gold seller will be in the fake gold selling business?....

...or as Christopher Walken's character "Brad Whitewood Sr." in "At Close Range" said of the rat Lester, "Boy's got the life expectancy of a house fly".........post dollar metals trade, everything changes....anything "less" than a "positive" rating?

not tolerated.

think ahead, post dollar swap meets?....gonna be a business in itself, booth costs a fee, security assessment fee, and every piece of metal used for trade, pre-assayed before its allowed into the venue, that way, all buyers and sellers are confident as to the purity of trade....you guys understand what i'm getting at?

holding swap meets themselves, will be a moneymaker....post dollar, and this horrible story we just read about?....wouldn't be tolerated, and to underline that examples would have to be made. Post dollar, there will be no more "Corzines".

I've known the people that have the shop mentioned. Honest folks. Very thorough, too.

neilgin1 wrote:

pennypicker wrote:

neilgin1 wrote:guessing a "good deal's" price....premium or LACK of, we're talking anywhere from a 3900 to 4200 dollar whamming.

Yes the buyer mentioned how good it felt not having to pay the dealer premium on the lot. He didn't pay the premium but he did "pay the price". The LCS owner told me that Craigslist scammers play upon people's greed.

what i'm talking, as you can read between my lines, is at what level does the seller "pay the price"?

God only knows what the future looks like, and at a post dollar environment where hard currency trades, where food is precious, water is precious, the margin between having enough to eat, enough to trade, plastic cards aren't any good, and people trade in "swap meets", how LONG do you think that this fake gold seller will be in the fake gold selling business?....

...or as Christopher Walken's character "Brad Whitewood Sr." in "At Close Range" said of the rat Lester, "Boy's got the life expectancy of a house fly".........post dollar metals trade, everything changes....anything "less" than a "positive" rating?

not tolerated.

think ahead, post dollar swap meets?....gonna be a business in itself, booth costs a fee, security assessment fee, and every piece of metal used for trade, pre-assayed before its allowed into the venue, that way, all buyers and sellers are confident as to the purity of trade....you guys understand what i'm getting at?

holding swap meets themselves, will be a moneymaker....post dollar, and this horrible story we just read about?....wouldn't be tolerated, and to underline that examples would have to be made. Post dollar, there will be no more "Corzines".

Stop beating around the bush, Neil. What this guy did was dead wrong.

Counterfeiting gold is a bit ore difficult for the savvy investor. Maples are supposed to weigh 31.1 Grams (Gold Eagles DO NOT weigh 31.1 Grams because their 22k, maples are 24k) so the weights have to be correct. If the weights were off then auto-kick them. Sounds like they were spot on or the derp didnt bother weighing them.

If these coins had correct weights then the thickness or size must have been off. Then they must have looked weird. I have never owned a 1 oz Gold Maple, but it seems if your buying them, let alone 3 (AND IN A PARKING LOT TO BOOT) you should have some idea of what they look like and their specs. This guy shouldnt be buying 1 oz gold left and right without knowing proper specs and what the heck hes doing.

One party had fakes and is at fault. However the other party is at fault for lacking proper knowledge to deal in said coins

beauanderos wrote:

Stop beating around the bush, Neil. What this guy did was dead wrong.

sure nuff.....dead......wrong.

got lime?