logo
g Text Version
Beauty & Self
Books & Music
Career
Computers
Education
Family
Food & Wine
Health & Fitness
Hobbies & Crafts
Home & Garden
Money
News & Politics
Relationships
Religion & Spirituality
Sports
Travel & Culture
TV & Movies

dailyclick
Bored? Games!
Nutrition
Postcards
Take a Quiz
Rate My Photo

new
European Travel
Action Movies
Bible Basics
Houseplants
Romance Movies
Creativity
Family Travel


dailyclick
All times in EST

Full Schedule
g
g Coin Collecting Site

BellaOnline's Coin Collecting Editor

g

Gold-Plated Coins Not A Bargain


No doubt you have seen these coins advertised on television or in a newspaper or magazine, or you may have received one in change. And you wonder if these coins come the U.S. Mint. The coins are often advertised to be “Genuine gold-plated U.S. coins” and are often hyped as being a “great investment.” The individual coins do come from the mint, but the gold-plating is put on them by a private company.

It may be stated in the ad that the coins are plated with 14 mgs of 24 karat gold, but they are not a “great investment!” These replica coins often sell for about $10 or more plus shipping. The fourteen mgs of gold equals about 0.00045 troy ounces of gold or around 75 cents of gold depending on the current spot price of gold.

It is not illegal to gold-plate a coin issued by the U.S. Mint. But what is misleading is to promote the gold-plated coins as being “from the U.S. Mint.” As previously explained, the individual coin comes from the Mint, but the gold-plating comes from the company advertising the gold-plated coins, or from a private company known to the advertiser.

An excellent example of this practice is the “cent-less Liberty Head nickel.” The 1883 nickel didn’t have “FIVE CENTS” engraved on it, and since it was about the same size as a $5 gold piece, it could be easily gold-plated and passed off as a $5 gold Liberty. Josh Tatum, a deaf-mute, was reputed to have gold plated a few “cent-less Liberty Head” nickels in 1883.

He would take his gold-plated nickels into a store and purchase something for 5 cents. If the store keeper didn’t return change, Tatum said nothing and left. However, if the store keeper returned $4.95 in change Tatum made a profit from his efforts. Being a deaf-mute, he couldn’t tell the shop keeper he had given him 5 cents and not $5.

No one knows how many of these Racketeer Nickels have survived today. The moral of this article is to not bother with purchasing any of these gold-plated coins. They will never be a “great investment” at all. If you still insist upon buying one or some as a novelty do so as an informed buyer. Do not believe the hype of the advertisement, no matter what its source. The companies selling the coins know what they are doing is very misleading at the least.
Add Gold%2DPlated+Coins+Not+A+Bargain to Twitter Add Gold%2DPlated+Coins+Not+A+Bargain to Facebook Add Gold%2DPlated+Coins+Not+A+Bargain to MySpace Add Gold%2DPlated+Coins+Not+A+Bargain to Del.icio.us Digg Gold%2DPlated+Coins+Not+A+Bargain Add Gold%2DPlated+Coins+Not+A+Bargain to Yahoo My Web Add Gold%2DPlated+Coins+Not+A+Bargain to Google Bookmarks Add Gold%2DPlated+Coins+Not+A+Bargain to Stumbleupon Add Gold%2DPlated+Coins+Not+A+Bargain to Reddit




RSS | Related Articles | Editor's Picks Articles | Top Ten Articles | Previous Features | Site Map


For FREE email updates, subscribe to the Coin Collecting Newsletter


Past Issues


print
Printer Friendly
bookmark
Bookmark
tell friend
Tell a Friend
forum
Forum
email
Email Editor


Content copyright © 2014 by Gary Eggleston. All rights reserved.
This content was written by Gary Eggleston. If you wish to use this content in any manner, you need written permission. Contact Gary Eggleston for details.

g


g features
!845-O Quarter Eagle Gold Piece

Collect The Coins You Can Afford

1896-S Barber Quarter

Archives | Site Map

forum
Forum
email
Contact

Past Issues
memberscenter


vote
Poetry
Daily
Weekly
Monthly
Less than Monthly



BellaOnline on Facebook
g


| About BellaOnline | Privacy Policy | Advertising | Become an Editor |
Website copyright © 2014 Minerva WebWorks LLC. All rights reserved.


BellaOnline Editor