You may have seen a commercial offering buffalo coins clad in 15 milligrams of 24 ct. gold for just under ten bucks.
I’ve always wondered how bad a deal this was, because if they have it on a commercial, it’s gotta be a bad deal for the purchaser.
Well, if the coins were going to cost $50 and they’re selling them for just ten bucks, maybe it is a fair deal…
I won’t prolong the agony. There’s 63 cents worth of gold on one coin. That’s it. Not even two-thirds of a single dollar.
One of those coins that they’re selling for ten bucks is worth less than a dollar. Not a bad return… of course, you do get a certificate of authenticity. A proof positive certificate that you just got bent over a barrel boned.
Gold goes for about $1,200 an ounce today, and that’s generous. The trick is the 15 milligrams. There are approximately 28,350 milligrams in an ounce. Do the math.
Oh, and if you just bought a hundred of those for a thousand bucks and I just showed you that the purchase is worth a little more than fifty bucks, damn. Sorry about that.
Next time buy a carbon fiber bike. They depreciate like a car and cost a whole lot of money… but at least you can ride that a lot and lose a pound or 30.