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Scams, Shams, and Assorted Quackeries
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01-02-2010, 12:54 AM
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IACJdKfU
Join Date
Oct 2005
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403
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This one has been around for a while; pops up for a TV run every now and then.
The $50 gold buffalo coin
The ad masks its worthlessness by taking advantage of true facts:
1. The price of gold is currently around $1100 per once.
2. There is actually a
$50 gold American Buffalo Coin
offered by the US Mint. It has a legal tender value of $50, although you'd be crazy to use it as such.
Gold is expensive, but the amount of gold on the coin copy is 31 milligrams. This translates to about $1.25.
The ad attempts to put time pressure on a purchase, stating because of the "skyrocketing" price of gold, the price of the coin can only be guaranteed for 7 days. At $1.25 per coin, gold could double tomorrow with hardly any effect on the cost of the coin. The price has been $19.95 for eons.
Some may draw the conclusion that they are getting a $50 gold coin for less than half price. It is called a "proof" but they didn't even bother to reed the edge. The word COPY is camouflaged along the Indian's braid.
They create the impression of limited supply by stating a "strict 5 limit per order." LOL
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