Tuesday, January 05, 2010

US Gov't $50 Gold Buffalo

So, been watching some shows on the TruTV channel and have been inundated with the commercial for that Buffalo Gold proof that is supposed to be worth $50 but you can have it for only $19.95.

US Gov't $50 Gold Buffalo
Purest 24kt Gold Coin Ever Struck by the United States Gov't

Of course, the actual gold content of this supposed $50 gold piece proof? Only 31 mgs (that's milligrams). Which, given the current price of gold (around $1124 USD per troy oz) means that 31 mgs is only 0.00109 oz or about $1.22 USD.

And that 1oz printed on the piece? That's the avdp (International avoirdupois ounce) weight of the entire proof piece, not the amount of gold contained within. The avdp oz is smaller then a troy oz.

Labels: 2010, Scams

posted by Wuphon's at 11:22 AM