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Old 08-02-2014, 08:07 PM
Lazenca Lazenca is offline
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Default 1 Oz OMP Gold Panda / 1 Oz Gold Aust Philharmonic + Pawnshop Experience

Hi all

Happy CNY everyone xD.

Been one year since I joined GCA and enjoyed my stay ! Just wanted to shared an experience today after I bought a 1 oz 2014 gold panda and 1 oz 2013 gold austrian philharmonic coin (http://goldsilvercentral.com.sg/Aust...Gold-Coin.html) . As usual I would just bring it to any pawnshop to see if they would accept my gold coins. Kinda like a check to test if my gold coins are genuine. Yes call me paranoid as GSC reputation is rock solid. But thats just me xD.

Anyway my 2014 gold panda got offered 1500 after a short cursory check including weighing and viewing under some magnifying device. This was similiar to last year when I took my 1oz OMP 2013 gold panda for a check. Which was short and sweet.

Now the interesting part happened with my 1 oz gold aust philharmonic. The person scrutizning my gold philharmonic took much longer with the magnifying device and weighing machine. Untill at one point she asked can she take it out of the plastic capsule. Curious I asked her why and she mentioned although the weight is correct the gold color and the balance of the gold coin is weird. She mentioned the weight can be forged. (Note that gold philharmonic is larger and thinner then gold panda.) (Yes and how to identify gold bullion is another issue since can measure the dimensions, but well they are just pawnshop )

Yes you read it correct. The gold color of my philharmonic is weird . Also the balance of the gold coin she mentioned when she palmed my gold philharmonic was according to her out of sync . Or she probably meant didn't balance well. Making me worried I agreed and she took it out of the capsule did the same long checks and finally REJECTED accepting the coin .

Well thats the end of the story xD. Just wanted to share this interesting experience and wonder if anyone here including the seniors have encountered anything similiar. Please share your experience and feel free to comment !
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Old 08-02-2014, 08:14 PM
Altima Altima is offline
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Thanks for sharing the experience.

Did they have an XRF analyzer? Interesting to see if the coin is legit.

I don't like the philharmonic cos it looks too thin. But that's just me. Haha
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Old 08-02-2014, 08:23 PM
Lazenca Lazenca is offline
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Quote:
Originally Posted by Altima View Post
Thanks for sharing the experience.

Did they have an XRF analyzer? Interesting to see if the coin is legit.

I don't like the philharmonic cos it looks too thin. But that's just me. Haha
Hi Altima

Hmmm I do not think so. But actually what is a XRF analyzer. The coin is legit lol bought from GSC with receipt. If worse come to worse I just sell back to GSC. Point of me going to the pawnshop is to test two things. 1. If the coin is genuine. 2. Ease of liquidation.

In this case my philharmonic failed point 2. Kinda shocked !
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Old 08-02-2014, 08:38 PM
stektan stektan is offline
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Indeed, that's what I realised about buying gold and silver over the last few years.. For bullions, if much better to stick to popular brands like Canadian maples, ASE, Pamp, credit suisse and Perth mint where most place including pawn and gold shop recognize. Buying those rather limited and less popular mints sometimes pay higher premium and liquidate at the same price as cheaper bullions. Even for some so call numis coins, unless selling to enthusiasts, most shops will buy at standard bullion price.
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Old 08-02-2014, 10:46 PM
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GoldenMao GoldenMao is offline
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Quote:
Originally Posted by Lazenca View Post
Hi Altima

Hmmm I do not think so. But actually what is a XRF analyzer. The coin is legit lol bought from GSC with receipt. If worse come to worse I just sell back to GSC. Point of me going to the pawnshop is to test two things. 1. If the coin is genuine. 2. Ease of liquidation.

In this case my philharmonic failed point 2. Kinda shocked !
Yes, you have a GSC receipt. But how does GSC able to confirm that the Phil 1oz gold coin you are selling in the future is the same Phil 1oz gold coin that you purchased from GSC in the past? Government issued coins do not have serial numbers engraved on it. Since you said that the pawnshop has rejected your Phil coin, what makes you think that GSC will not reject it (and troll you)?
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Old 08-02-2014, 10:48 PM
Lazenca Lazenca is offline
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Hi stektan

Well I can't comment on silver bullions as I believe thats what you are refering to since I do not stack silvers. But I agree with your point for gold bullions

Anyway to share a little more of my experience. Actually the pawnshop offered two alternatives for them to accept the 1oz gold philharmonic.

1. Provide a reciept of where I purchased the coin. Well I didn't test this since the receipt would show its bought today and my bogus cover of selling blown But somehow I believe this is still pretty subjective as I am not sure if they would be aware of GSC.

2. Allow them to "scratch" some gold off my 1oz gold philharmonic to test for the content. They did mentioned that it would cause a dent and the purpose was to assay if it real gold
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Old 08-02-2014, 10:51 PM
freeier freeier is offline
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Quote:
Originally Posted by GoldenMao View Post
Yes, you have a GSC receipt. But how does GSC able to confirm that the Phil 1oz gold coin you are selling in the future is the same Phil 1oz gold coin that you purchased from GSC in the past? Government issued coins do not have serial numbers engraved on it. Since you said that the pawnshop has rejected your Phil coin, what makes you think that GSC will not reject it (and troll you)?
Don't think the pawn shop is rejecting, but they need to check the relative density of the coin to be sure it is gold and not a mixed...

If you don't let them open the capsule i think they cant..

Anyway most gold appear differently... Depending on the content of the impurity of the non 999 part i wld guess...
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Old 08-02-2014, 10:53 PM
Lazenca Lazenca is offline
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Hi GoldenMao

Yup thats definitely true. Thats why I am contemplating to sell the gold philharmonic back to GSC maybe within this year. This will allow me to test their sellback policy and if not well it is real gold xD. I measured the dimensions and the weighing by the pawnship is at 31.13 exactly the same as Austrian Mint Specifications.

The point of sharing my experience is to learn if any other GCA members had similiar encounters and to hear what they have to share xD
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Old 08-02-2014, 10:55 PM
Lazenca Lazenca is offline
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Quote:
Originally Posted by freeier View Post
Don't think the pawn shop is rejecting, but they need to check the relative density of the coin to be sure it is gold and not a mixed...

If you don't let them open the capsule i think they cant..

Anyway most gold appear differently... Depending on the content of the impurity of the non 999 part i wld guess...
Hi freeier

Nice to see you are still around You are one of the first few seniors to advice me when I joined one year back. Actually they opened the capsule at the pawnshop. But the point where they want to dent my coin by scratching off some gold content and testing it really shocked me
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Old 09-02-2014, 03:29 AM
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anlok anlok is offline
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Is it a chain pawnshop or those individual entity type that you went to?
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