Menu

Beware of Gold coins from Cook Islands

Author Message
ken6528
Joined: 11-Sep-2009
Posts: 1197
Found this article while researching a new coin.

http://about.ag/FakeCookIslands24Gold.htm
Numista referee for British Antarctic Territory, British Indian Ocean Territory, United States, Fiji, Cook Islands, Philippines, Vanuatu
KLiao
Joined: 6-Jan-2019
Posts: 32
I know if you look on eBay people are spending money on those coins like they are pure 9999 fine gold.

https://www.ebay.com/sch/i.html?_from=R40&_nkw=cook+island+.24+gold&_sacat=0&rt=nc&LH_Sold=1&LH_Complete=1
jimpop
Joined: 26-Jan-2013
Posts: 785
Quote: "KLiao"​I know if you look on eBay people are spending money on those fakes like they are pure 9999 fine gold.

https://www.ebay.com/sch/i.html?_from=R40&_nkw=cook+island+.24+gold&_sacat=0&rt=nc&LH_Sold=1&LH_Complete=1
​they aren't fake. They are deliberately misleading, which is very different to being fake.
KLiao
Joined: 6-Jan-2019
Posts: 32
Yes that is what i meant misleading
Moneytane
Joined: 28-Jan-2014
Posts: 182
The National Collectors mint was also famous for the 2004 Tower coins that contained about 1% gold and advertised themselves as a pure gold coin.

Deceptive and scammy like Bradford Exchange, Danbury Mint and other rubbish.

NZ has control of the Cooks and nearby island Niue (Free Association) , but their coins and stamps are done by themsleves and they use dodgy American countries to make them. You should see the gimmicky rubbish Niue puts out - gold leaf banknotes of Disney princesses, Doctor Who coins and other coloured rubbish.

The Cooks got Free Association in 1965 and instantly went with mega dodgy stamp agency Finnbar Kenny who issued mountains of gold foil stamps with high face value and fake overprints and sheetlets. Now they have Philatelic Collector, an American agency that issues "Wallpaper" stamps that show butterflies of Europe and Africa and have face values of $50 when there are no stamps for local use.

It is no suprise they have dodgy agencies. They actually have divided it into the 3 groups (Rarotonga, Atiutaki, Penrhyn) the whole country - Cook Islands.

Yet despite these junk coins and stamps, they have an official coinage that is made by the royal mint and has the same dollar as New Zealand (NZ notes are used, but Coins have Cook Islands designs).
I love coins, both old and precious and also change coins. If its round and shiny, it will garner my interest. I also collect stamps and have an abiding interest in History, Archaeology,  and Social Issues.  I also worship the musical god Prince.
Ryurazu
Joined: 4-Jan-2019
Posts: 16
definitely doesn't pass the smell test. I don't understand how they can print these sort of things, don't they had to ask the studios in order to be able to print these coins?
sarikanair
Joined: 30-Nov-2017
Posts: 94
This is scary, especially for coin lovers... I have recently heard of many such fraudulent cases where coins are promoted and sold as pure gold coins... It’s always better to buy them from reputed mints and Government bodies... Thanks for sharing this information!
Choucas
Joined: 21-Jun-2017
Posts: 1610
I'm sorry for the Cook Islands, but this is undoubtfully done in the intention to fool people.
Moneytane
Joined: 28-Jan-2014
Posts: 182
I am actually not, this country has had a garbage reputation for stamps and coins since Finnbar Kennie in 1965. They could have chosen to remain with us in New Zealand and let us do their stamps and coins - but no they choose to go with American scammers.

The Cooks have their own Kiwi designed and operated circulation coins, and NONE of the commemorative junk would be available to buy or use there. All Cook Island products are sold through the mint that makes them.

The country has had a history of corrupt and greedy leaders like Albert Henry and then Thomas Davis (Most people are mixed race Maori/White on Rarotonga), many live in New Zealand as all Cook Islanders have automatic New Zealand citizenship.

Seriously look up Cook Islands in the Catalogue and you will see the gimmicky rubbish they have issued and the same for neighbouring island - Niue. You can choose your friends, but Cook islands have chosen poorly and go after the money rather than credibility.
I love coins, both old and precious and also change coins. If its round and shiny, it will garner my interest. I also collect stamps and have an abiding interest in History, Archaeology,  and Social Issues.  I also worship the musical god Prince.
Ronald70
Joined: 19-Jul-2013
Posts: 166
...but, but look it is super rare, "real" silver and so beautiful... Don't understand how noone likes it...

https://en.numista.com/catalogue/pieces156479.html

Ironie off
Moneytane
Joined: 28-Jan-2014
Posts: 182
Especially when now you can buy heaps of classic coins that have 90% or more silver content for melt price or not much above it. Junk silver is every where, its older and more interesting.

What would you all rather have? (All values are in New Zealand Dollars and I am not exchanging into your currency)

1. A Cook islands coin that is 33% silver, modern and costs about 10 times its melt value.

or

2. A 120 ( I was going to say 100, but realise that was post WW1 and some countries were debasing their coins already) year old 80% or more silver coin that is crown sized like a Morgan dollar, a French 5 franc, 5 marks, 5 lire, British silver crown or another large European silver coin that would cost 5 or 10% over melt (Say $20 NZD). The only catch is this coin will be well worn down to Fine or Very Good condition.

I think most of us would choose 2 over 1 anyday. The second coin is at least real and would be a historical and collectable piece, the modern coin would not and rapidly lose value as it has no resale market.

Seriously the NZ Post company sells about 5 or 10 different silver one ounce coins celebrating the War, some bird or Maori thing and they cost between NZ$129 and $199 for a one ounce coin of silver worth about $22 in melt value. What a rip off. You can buy proof dollars that are Sterling and weigh about 0.75 of an ounce for $20 or $25.

We don't have bullion coins like Eagles or Maples that generally cost a bit over melt, and this commemorative coin rort is just a money making operation. Gold is worse, the average one ounce gold coin here is about 4 grand when the ounce of gold is about $2300 at the moment. Sets of 3 gold 1 ounce coins are like $11k!

I would never buy commemorative coins (Including base metal ones) unless they were rock bottom cheap prices - no more than 20% over melt for precious and no more than twice face for base metal (Cupronickel, steel and Aluminium Bronze) ones.
I love coins, both old and precious and also change coins. If its round and shiny, it will garner my interest. I also collect stamps and have an abiding interest in History, Archaeology,  and Social Issues.  I also worship the musical god Prince.

Used time zone is UTC+1:00.
Current time is 12:30PM.