NCM is marketing 2011 $5 Cook Islands 1/10th oz gold coins worth about $30 at today's spot gold value for a $99 come on. Their advertising indicates that this is a special release from their set issue price of $129 per coin. Their sales representatives, when asked if these coins are pure gold will tell you "yes" even though their published information indicates that the coins are .24 pure gold which is approximately 5.76kt rather than 24kt. If you call their customer service line and grill the agent, you can get an admission that these coins are not pure ie. .9999 or 24kt gold but it takes some doing.
The worst thing about this marketing is, while everything stated is true, many folks are buying these coins, either knowingly, that they are not 24kt or unknowingly, thinking they are 24kt, then reselling them on Ebay as if they are ,9999 pure gold. Many buyers are being duped as a result of deceptive listings and some have paid as much as $160 for a coin you could buy from a reputable dealer all day long for less than $50.
Since NCM is the apparent prime mover of these coins, at an already inflated price, under less than scrupulous marketing tactics, their actions are leading to subsequent fradulent activities in the secondary market. They should be called upon to more clearly identify the quality of the coins they are selling. To say these coins are .24 pure gold, is leading the public to think they are getting 24k gold, a far cry from the truth.
National Collector's Mint Reviews
NCM is marketing 2011 $5 Cook Islands 1/10th oz gold coins worth about $30 at today's spot gold value for a $99 come on. Their advertising indicates that this is a special release from their set issue price of $129 per coin. Their sales representatives, when asked if these coins are pure gold will tell you "yes" even though their published information indicates that the coins are .24 pure gold which is approximately 5.76kt rather than 24kt. If you call their customer service line and grill the agent, you can get an admission that these coins are not pure ie. .9999 or 24kt gold but it takes some doing.
The worst thing about this marketing is, while everything stated is true, many folks are buying these coins, either knowingly, that they are not 24kt or unknowingly, thinking they are 24kt, then reselling them on Ebay as if they are ,9999 pure gold. Many buyers are being duped as a result of deceptive listings and some have paid as much as $160 for a coin you could buy from a reputable dealer all day long for less than $50.
Since NCM is the apparent prime mover of these coins, at an already inflated price, under less than scrupulous marketing tactics, their actions are leading to subsequent fradulent activities in the secondary market. They should be called upon to more clearly identify the quality of the coins they are selling. To say these coins are .24 pure gold, is leading the public to think they are getting 24k gold, a far cry from the truth.