2010 $50 Gold Buffalo tribute proof?
There is an ad running on TV by National Collectors advertising the 2010 $50 Gold Buffalo tribute proof. It is a .9999 24 kt gold plated bronze piece. It is 31mgs of 24 kt gold over a bronze coin. It appears to be replica of an authentic 24 kt gold US Mint coin previously offered by the US Mint. The purchase price is $19.95 plus S&H.Are there any coin collectors out there that know the skinny on this deal. Is it a scam as it appears?
The coins you are referring to are not the coins being made by the US Mint – They are gold plated replicas, as you quite correctly point out. According to the advertising I have seen, these replicas contain 31 milligrams (.001 Troy Ounces) of gold plating over base metal. That is about $1 worth of gold. Notice also that these replicas do not say “Fifty Dollars” on them anywhere, unlike the genuine coins, which also contain 1 Troy ounce (31.1 grams) of pure gold. If they had the denomination on them, they would be counterfeit coins and illegal.
See the advertisement linked below. Better yet, read the advertisement linked below.
https://www.50dollarbuffalo.com/?mid=664186&OVRAW=%2450%20buffalo%20gold%20coin&OVKEY=50%20buffalo%20gold%20coin&OVMTC=standard&OVADID=3449049023&OVKWID=14184790523
This kind of advertising is extremely deceptive. As a coin dealer, I would not be interested in buying one at any price. It’s not really a scam, but the coins are nearly worthless, and by reading the advertisement as you obviously did, you spotted the deception.
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