Thursday, July 24, 2014

www.policeauctions.com / Gold Clad Bar or Coin Warning

I am fairly new to www.policeauctions.com and bought a, Collectors One Gram 24K Gold Clad Scorpion Bullion Bar. I won the Bid for $30 and was all excited that I won a 24K Gold bar for $30. Well, I was wrong. it was not a solid a 24K gold bar.
Gold clad means a cheaper metal with a very thin coating of gold on top of it. The term is used by jewelry or coin merchants to try to sell a coin/piece of jewelry for a premium price when the item is actually cheaply made. Few people know exactly what gold clad means and mistakenly believe it's solid gold. I know I was fooled. so please, do some recherche before you purchase any gold from policeauctions.com.

They do sell real gold. But do the math before you buy. I like to use http://coinapps.com/gold/scrap/calculator/

Here is an Example:

Collectors Lot of Five One Gram 100 Mills 24K Gold Clad Dragon Bullion Bars