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I saw someone had asked if they should buy the $50 gold proof coins advertised on TV. No, never. Listen closely to the ad. The precious metal (gold or silver) is a very small amount layered on top of some very cheap metal. Current ads mention 31 mg of gold or silver, which is typically measured in troy ounces. The problem with these coins is there is such a small amount of gold or silver they are worthless as an investment and with so much cheap metal inside, melt value would be nothing because of how expensive it would be to separate the tiny amount of gold or silver from all the cheap metal in the coin. When they say a $50 dollar coin they are talking about the face value on the coin, which could be any face value they want on the coin. It is no indication of the actual value of the coin. These coins are nothing more than an expensive nice looking paper weight. Do research before buying any silver or gold. This is a good example of knowledge is power.

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14y ago

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