Wednesday, January 18, 2012

Chump Change




Is there something about that offer that you find troubling?  There is to me.  For selling a $50 coin for less than $10 certainly sounds too good to be true—especially with the price of gold reaching astronomical heights these days.

Of course, there is no way to tell for sure without doing the math, which is usually problematic for me.  For I am always forgetting to carry something, and with the untimely death of my trusty old solar-powered Casio calculator, I am forced to use either a rusty old slide-rule or a dusty old abacus.

Anyway, I endeavored to persevere, and I came up with some amazing figures.  For it turns out that there is 74 cents worth of gold in one of those $50 coins.

Yep, you read that right.

74 CENTS!!!

Meaning, that the price of gold will have to reach over $22,000.00 per troy ounce before you can recoup your investment.

Oh, but wait—there’s more!  For when you add in the shipping and handling, the price of gold will have to reach over $33,000.00 just to get back what you have spent to purchase one of the coins.

How so?  Well, as disclosed in the commercial, there are 14 milligrams of gold in those coins, and that equals .000450 troy ounces.  So, with the price of gold being $1,652.80 per troy ounce at this very moment, you get 74 cents worth of gold per coin.

Alas, I wonder how many of those coins [they] have actually sold.  One would think that they would have to be selling quite a few just to pay for the advertising.

No, I wouldn’t recommend investing in these coins.  Of course, you could always hope to find another chump needing some change.

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2 comments:

Country Mouse Studio said...

I was watching that and couldn't believe it but someone will fall for it.

Jerry E Beuterbaugh said...

Thanks for stopping by again, my dear Country Mouse!!! I have been seeing ads like this for a while now, and they always left me scratching my head. However, I never imagined that the coins were that much of a rip-off.