Baby Boomer Pocket Change

Fools Gold-Buyer Beware! Plus-Don’t Let Lust for Gold Get in Your Eyes

Just the other day I was driving in my car listening to the radio. The financial news reporter announced the gold was 1,049. I sucked the air through my nose and let out an audible gasp. I was almost afraid to exhale because I excited about the rise in gold prices.

But then it a little voice of sanity and reason said “Why are you so excited? You don’t have any gold.” So, in the middle of bumper to bumper traffic I laughed as if I was listening to a Bill Cosby tape.

I realized I was just excited for other that might be able to benefit from this good news. Or maybe it was just wishful thinking. Anyway, that night, after my hubby was in bed and I was finished working, I went to Ebay.

There, at a sleepy 1:00 am, I saw a really low priced ad for 22 karet gold coins with only a  $2.00 bid. I looked at the picture and saw the coins spread out unorganized on a kitchen counter top.

I also read the ad closely to determine if they said things like, “looks like real gold”, “feels like real gold,” “gold toned” “as well as ”gold clad”. No, it seemed really legit. “But why so low?” I said to myself. “Self did not answer me.

So, I proceeded, in my lust to actually own a real gold coin, to bid on that item. It was only 2 minutes left and I was still the highest bidder at $4.00. Certainly, this must be a mistake or a very unhappy wife dumping her husbands gold. ” I said to myself.

I won the bid!  I quickly paid for the item and went to bed. “Won’t my husband be surprised,” I said as I quietly slid in the bed besides him. I was about to wake him up to tell him the good news but decided to tell him later.

Well, I told him the next morning and we both laughed about the possible reasons why it was so low. We covered every reason except the real reason. The camera shots did not show the actual size. Nor was there a mention of the size in the ad.

When my coins arrived, very timely I must remember to say in my feedback, they were the size of my finger tips.  I finally had real  gold coins.

So, I decided to share this with all my readers that as you dip in this world of coin exploration keep learning, asking questions ask questions.

I spoke to my coin dealer the day after I purchased the coins and he predicted that they would probably be very tiny coins. He was so right.

Hope this helps someone who is still learning like me.

So, what are my lessons?

1. Don’t get greedy, sometimes if it looks too good to be true it is!

2. Ask questions from from someone who knows more than you before you buy, if they are not around-let it go

3. Ask the seller questions about the size of your coins

4. Chalk up mistakes in judgement and learn from them, just try not to make it expensive.

Ok, if you gleaned some lessons from this let me know.

Tags: gold coins, gold coins on ebay, scam gold

6 Comments to Fools Gold-Buyer Beware! Plus-Don’t Let Lust for Gold Get in Your Eyes

1. 

   The question is: are they worth anything at all or do you need a gazillion of them?
Beverly Mahone on November 12th, 2009
2. 

   Not all that glitter is gold and now the story has been told.
Alton on November 12th, 2009
3. 

   Very timely insight, with all of us trying to manage and increase our income we become easy prey to the con game.
Ray Horner on November 12th, 2009
4. 

   Good point. I am going to check it out and let you know. If I can get at least 8 dollars with the price of gold almost 1200 that would be nice. Ha!
   It was a fun time. But yes, need a gazillion
admin on November 12th, 2009
5. 

   I’ve heard that gold is over priced right now, that may or may not be so, better deal on silver right now.

   We should have our retirements tied up in several things, too many are invested in just American dollars. I’m looking for land, whatever the dollar does, land while still have value.
Heidi Caswell on November 13th, 2009
6. 

   Thanks for this true story. I’m glad you didn’t lose money but am also thankful for your always good advice.

   Cathy
Cathy Perkins on November 13th, 2009

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