Fit Recovery

Home » Cycling » The laughable gullibility of “As Seen On TV” gold coin buyers

The laughable gullibility of “As Seen On TV” gold coin buyers


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. 

Right?

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.

image

Way better that a $0.63 coin that you paid $10 for

Advertisements

6 Comments

  1. Tony says:

    I like the idea of gold as a value, but it seems that all the ads for it on TV are some of the sleaziest around. Go figure.

  2. bribikes says:

    A carbon fiber bike sounds like the much better investment to me, who cares about slightly golden coins when they could own two wheels of awesomeness?

  3. bought my scott addict new 2 years ago paid just under 4k after taxes, a year later i bought my giant trance sx mtb used for $1950 it retialed for $4400 bikes depreciate quite quickly, next road bike i get will likely be used or a end of season deal

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: