calling all canadian gold maple leaf & SA Krugerrand experts wtf??

[Micol]

thought about posting this in bobbys car lot, stock market gonna crash, real estate crash, and even the bitcoin....but this may need its own to get the right experts...

i be trying to sell something on craigslist and of course someone offers me 1 oz canadian maple leaf coin or South African Krugerrands ..... i have no idea how to tell if these are real or scrap metal wrapped in gold , hell for that matter, i dont even have a way to test gold...

i asked the guy why he didnt just sell them for cash and give me the cash, ....he said something about reporting income and capital gains....blah blah blah....

i dont want gold....i want cash..but im willing to transact it if they're real and if i can unload them.....

or is this just the latest CL scam, like this one.... a month or two back i was trying to sell a car and these fukrs would text and act all interested and cash in hand and even know some specific questions unique to the car,..... then they would say they would only buy it if i ran some off brand carfaux report and they would text me a link....i blocked all of them....nice marketing strategy and all tho lol


what say the expert maggotdom on these Krugerrands and leafs??

William Devane says "safer to buy gold" with Rosland capital.....lol

[JimmyCarter]

thought about posting this in bobbys car lot, stock market gonna crash, real estate crash, and even the bitcoin....but this may need its own to get the right experts...

i be trying to sell something on craigslist and of course someone offers me 1 oz canadian maple leaf coin or South African Krugerrands ..... i have no idea how to tell if these are real or scrap metal wrapped in gold , hell for that matter, i dont even have a way to test gold...

i asked the guy why he didnt just sell them for cash and give me the cash, ....he said something about reporting income and capital gains....blah blah blah....

i dont want gold....i want cash..but im willing to transact it if they're real and if i can unload them.....

or is this just the latest CL scam, like this one.... a month or two back i was trying to sell a car and these fukrs would text and act all interested and cash in hand and even know some specific questions unique to the car,..... then they would say they would only buy it if i ran some off brand carfaux report and they would text me a link....i blocked all of them....nice marketing strategy and all tho lol


what say the expert maggotdom on these Krugerrands and leafs??

William Devane says "safer to buy gold" with Rosland capital.....lol

Taxes on bullion sales would only come from self reporting, so seems like an odd excuse.

[Micol]

^agreed...thats why im posting,...im thinking scam...like clad coins or hell brass for all i kno

[Choss Jonger, Sr.]

you could always bluff on an acid test...or actually do one (https://bullionexchanges.com/learn/test-gold-real). but if he is unwilling to just go swap the coin to cash himself, which can be done (WITHOUT reporting reqs) on small scales through legit, professional traders that already know the ins and outs of acid and other tests, well, I wouldn’t touch it with a ten foot pole. just for fun you should bluff him on testing it yourself and see if shrivels like a mincey little raisin of a ballsack

[Micol]

^ but even with acid test , youre only able to test the top surface...so if the scam was good...they would clad a coin with real gold and the acid test with be good...? right? i feel like a barely legal bambi on opening day....

[Choss Jonger, Sr.]

the variety of tests and familiarity with them is exactly why you need to send him to an expert to change it to cash. you are probably right in thinking that if it smells like a dead fish and looks like a dead fish...

[idahospud]

[BmillsSkier]

Have him exchange it for 100% pure Peruvian Flake.

No cap gains and it may even qualify as a 1031 exchange.

Win-win.

[Micol]

just to clarify......he said he aint got no cliff bars nor frosted flakes

so how am i gonna short box this guy

[Micol]

i guess this is my penance when i be tryin to sling buddha rags

[Diamond Joe]

Might not be worth it, but if you're willing to do a little research, and your buyer is willing to give you a good rate on the coins.. it could be win-win. You sell your stuff AND make a few extra bucks by taking gold instead of cash. Fake gold coins are rare. Nobody is going to let you acid test their coins because you have to scratch the shit out of the coin to do the test, but there's other ways to test, and you can probably read the buyer too. Is he open and upfront, believable? Seem upstanding? I'll bet some goober accountant with 3 kids probably isnt moving fake gold. I have a bunch of bullion coins, and while I (probably) wouldn't try to pay for something on CL with them, I wouldn't immediately turn them away either.

[pureantigravity]

"Gold bars fraudulently stamped with the logos of major refineries are being inserted into the global market to launder smuggled or illegal gold, refining and banking executives tell Reuters. The fakes are hard to detect, making them an ideal fund-runner for narcotics dealers or warlords."

https://www.reuters.com/article/us-g...-idUSKCN1VI0DD


Ask him if he is a warlord. Otherwise it sounds legit


Well, except if it is from Canada.

"The Royal Canadian Mint is investigating how a sealed, "pure gold" wafer with proper mint stampings may in fact be a fake. ... The mystery began on Oct. 18, when Tang purchased what he thought was a 99.99 per cent pure gold wafer from an RBC branch just across the road from his Glebe-area boutique, Joy Creations. He carried the business-card-sized bar, still sealed in its Royal Canadian Mint blister-pack, back to his shop. "

https://www.cbc.ca/news/canada/ottaw...mint-1.4368801

So ... even Canadian Mint bars bought from Canadian national banks, found to be fake.

[old goat]

No. 1 principle of investing. Don't buy anything you don't understand.

[m2711c]

ssshh.... tryin’ ta sell here.

[XXX-er]

No. 1 principle of investing. Don't buy anything you don't understand.

The head of the TD bank (one of the 5 major Canadian banks ) made the comment he wasn't gonna get his bank into something he didn't understand himself

The comment was made about derivatives just before the US economy went in the toilet back in 2007, Canadian economy was mostly unaffected when your economy shit the bed

[dan_pdx]

Seems scammy. The two of you could go to a pawn shop or jeweler that buys that kind of stuff, ask what they'll pay for them, and then if the amount passes muster, just say they belong to you and sell them for that amount. Then give your CL guy whatever you're selling.

But if they're really good fakes you're going to be left holding the bag.

Feels like the risk outweighs the potential reward.

[BCMtnHound]

I've got some canadian gold and silver coins and english sovereigns stashed. But the article posted by puregravity means that any help I could give by a photo of my coin might be worthless? That said, canadian gold mint is as high a standard of bullion as they come.
Old goat's advice is the money though, at least until the apocalypse.

[neufox47]

Friend of a friend owns a pawn shop. They get fake coins as often as they get real. They drill every coin and test. Lots of people who bought fakes and just now realize they got had.

[pepperdawg]

"
Ask him if he is a warlord. Otherwise it sounds legit

Another vote for steer clear.

[TNKen]

Did his message to you read:

Hello, I like would do to trade for you on your special item. I have many gold coins call Kugerands I like would do to trade. If you are willing do to trade, I like would to have your item. Please let me know soon.

[splat]

Tell him to trade them up for silver dollars. I've only ever seen one fake silver dollar and it just happened to be an 1804 Morgan, aka 'The King of Coins', value today prolly $10M.

[billyk]

He could go to just about any pawn shop to cash those out if they are legit. My guess is if they aren’t fake, they’re stolen, and he doesn’t want to leave a paper trail. Too many red flags.

[I Skied Bandini Mountain]

if it seems like a scam on craigslist, it probably is.

[pepperdawg]

W gold around $1500 an ounce and the coins probably a bit over spot - and talking about coinS in plural - wonder what the OP is selling?

none of my bidness but I'm sure the collective is curious?

[ex-powderbroker]

he's definitely a scammer but i'm intrigued about these fake ass coins.