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ANTONDIRK

MEDALLIONS being passied off as COINS

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ANTONDIRK

WARNING ! Every collector is to some extent also an investor - you invest time and money in your hobby which is COIN COLLECTING. But there are some pitfalls! I've been getting a daily newsletter from the SA Gold Coin Exchange which is sometimes informative about price trends on Gold coins. BUT they are also probably the biggest of all businesses on the MANDELA gravy train. They are bringing all sorts of products on the market for gullible investors. They often call them COINS when they are what the Americans call "rounds" - i.e. as opposed to bars, bullion bars. SAGCE has a strategy which seems to work for them: they make MANDELA MEDALLIONS in all sizes and with precious metals: Gold, PLatinum and Silver and the increasingly popular BiMetals. They keep their "mintages" very low to give them rarity value. Numismatists don't mind as long as they are correctly called MEDALLIONS. These are being passed off as COINS though and that may be fraudulent, for numismatists/collectors at any rate. Some years ago the SAGCE folded when they were creating a "new" market for PROOF KRUGERRANDS and making tons of money in the process. Trouble is that many investors/collectors lost a lot of PROOF KRUGERRANDS and Krugerrand Fractions, as well as money when the SAGCE went bankrupt.

The current SAGCE might not be up to no-good now, but their new and apparently lucrative business is made with the same logo of the former SAGCE so my eyebrows are raised! To say the least.

The blatant abuse of the MANDELA name might be legal, but to pass off Medallions for Coins is just not right! I hope this warning will help Bobbers and if you can warn others who might want to buy these Medallions for the extortionately high prices they are selling them for, please do. Their disproportionatly high prices simply will not be sustained in the open market when buyers will want to sell. They will simply lose their shirt!

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