Monday, September 28, 2009

Total Bullshit Coins

This has been building for a while, and I wish I posted it before. I am a self-proclaimed coin expert, collecting and studying them when I was a kid. There NEVER was an advertisement in public for any sort of coin in the past, but now they are all over the place. The problem is... companies selling them are complete scams artists selling bullshit fakes (called "tributes") that are stamped out in China no doubt. When you see the "New York Mint", the "National Collectors Mint", or any other outfit selling these things, RUN!! The only real mints are the US Mints in Philly, Denver, and San Franciso. Period. Why would you pay 20 bucks for something that is 100% worthless? They use the terms "24-karat gold blah blah blah" then have "clad" as the last word in the sentence. Clad mean "mixture of metals", so essentially they are worthless.

The other thing I see with coins is some outfits selling "rare" silver dollars, found in a "horde" that was discovered recently. BULLSHIT. Morgan dollars are plentiful, almost always found in near-mint condition, and always have been. They sell 1921 Morgans, which is the year they made by far the most ever produced. Yes, they are silver, but an ounce of silver is worth 10-12 bucks, and to sell these coins for 30 or 40 is a ripoff.

In case this entices you, National Collector's Mint also sells other shit at 75% more than it is worth. Sounds great, huh? Must work well for people who are watching TV at 3am....

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