Every year, many people struggle to find unique and unusual lucky money gifts for their family and friends. They are often attracted by deceptive advertisements. With their genuine value and beautiful designs, lucky money pouches containing pure 24K gold products have become a popular choice for Lunar New Year gifts. However, many people have fallen victim to scams and purchased counterfeit products that do not live up to the hype. Therefore, in this article, we will expose the tricks that scammers have used in previous years to deceive consumers, so you can be more cautious and avoid being tricked.
1 Be wary of scams involving 2 USD bills coated in gold
During the Lunar New Year in 2020, a website advertised 2 USD bills featuring a mouse and coated in gold, purportedly printed and issued by the US, at unbelievable prices. The bills with serial numbers considered lucky in Vietnamese culture, such as 6868, 6688, or 8686, were priced at 240,000 VND each, while those with serial numbers from 1951 to 2000 cost 1,200,000 VND each. Even more expensive were the bills with three or four identical digits, ranging from 500,000 to 2,800,000 VND each.
For reference: Preparing lucky money for loved ones is a meaningful way to express your affection and best wishes for the new year.
2 USD Bill Coated in Gold
To gain customers’ trust, the website also posted an original certificate purportedly issued by the US and protected by C-Thru Vision technology. Buyers would receive a certificate along with the product, verifying its authenticity and guaranteeing that it could be exchanged for Vietnamese currency, provided that the decorative image was completely removed using chemicals. After removing the image, if the bill remained intact, it could be exchanged at a rate of approximately 45,000 VND.
It’s not just paper money that’s in demand; gold-plated coins are also popular. These coins feature a meticulously crafted image of a mouse, the zodiac animal for the year, and are available in gold- or silver-plated Australian coins, depicting a mouse holding a golden ear of rice, for 150,000-180,000 VND each.
Sharing his opinion on the 2 USD bills coated in gold, Dr. Nguyen Tri Hieu, a financial and banking expert, asserted that the US Treasury would never print currency featuring animals associated with Asian Lunar New Year celebrations. Therefore, people should be cautious as this could be a scam. Using such bills for transactions or shopping in the US would be considered illegal as they are not legal tender.
Thus, during this Lunar New Year, be cautious when purchasing such gifts for your loved ones. Before buying these bills, consider and research thoroughly to avoid financial loss and legal consequences. Both buyers and sellers of counterfeit money will face penalties if caught, so it’s essential to be vigilant to stay out of legal trouble.
For reference: Lucky money is a meaningful tradition that strengthens bonds, conveys heartfelt wishes, and brings hope for a prosperous new year.
2 Exercise caution when purchasing gold-plated gifts for the Lunar New Year
During the Lunar New Year in 2020, gold-plated items, especially those featuring a mouse, were in high demand. Gold-plated gifts are always appreciated for their elegance, uniqueness, and significance during the festive season. However, without careful selection, buyers may end up paying a high price for low-quality products, ruining the intended sentiment of the gift.
Mr. Tran Van Hung from Kien Hung, Ha Dong, Hanoi, shared his experience of buying a gold-plated pig statue as a gift for his business partner the previous year. The statue, advertised as being coated in 24K gold, cost him almost 10 million VND. However, he recently noticed that the statue’s color had faded and discolored, indicating that it was not a genuine gold-plated product. This situation caused him embarrassment and resulted in a significant financial loss.
Mr. Vu Tan Duong, a representative of a prestigious Vietnamese company specializing in crafting high-quality gold-plated gifts, warned that many workshops copy designs or import products from unknown sources. Therefore, consumers should be cautious and vigilant.
In reality, it is challenging to distinguish between genuine and counterfeit gold-plated products with the naked eye as they both appear shiny and attractive. Fake products will eventually change color, looking dull and damaged, while genuine gold-plated items retain their luster.
Consequently, it is crucial to research the origin and reputation of the product and choose well-known brands or stores with positive customer reviews. If possible, bring along an experienced companion when making a purchase, and opt for physical stores over online shopping to ensure the product’s authenticity. Additionally, pay attention to warranty policies to guarantee the quality of the gold-plated product and facilitate annual maintenance if needed.
3 The trend of giving lucky money pouches containing genuine gold
The trend of giving lucky money pouches containing 24K gold emerged around 2016 when people sought unique and meaningful gifts for the Lunar New Year. These pouches typically contain gold in various shapes, such as gold bars, the zodiac animal of the year, lucky cats, or the Three Stars of Fortune. The gold is protected by a clear plastic covering and placed in a vibrant red envelope.
We hope that this article has equipped you with the knowledge to make informed choices when selecting gifts for your loved ones this Lunar New Year. Stay vigilant and choose wisely!
Tips for Maintaining a Budget Following the Lunar New Year
After a year of hard work, it’s time to reunite with family and friends and celebrate the joyous Tet holiday! But with all the festivities that come along with it, it might be easy to overspend your hard-earned money. To stay within your budget, here are some helpful tips on how to enjoy the season without breaking the bank!
Learn How to Easily Give Lucky Money with Digital Wallets like Momo, ZaloPay, and Viettel Pay
This Lunar New Year, you can wish your loved ones happiness and luck from miles away with just a few taps on your device! With the convenience of electronic payment wallets such as Momo, Zalopay, and Viettel Pay, giving lucky money is easier than ever. Let us guide you on how to send lucky money in the era of 4.0!
How to give red envelopes correctly at the beginning of the year
The Lunar New Year is a cherished tradition in Vietnam, and parents play an important role in teaching their children the proper way to receive lucky money. It is important for parents to educate their children on the cultural significance of this practice.
Should We Gift Instead of Giving Lucky Money?
The tradition of giving lucky money, or ‘li xi’, is a beloved custom symbolizing good fortune and happiness. However, in modern times, some people prefer to give gifts instead of lucky money. Is this acceptable? Join us as we delve into the topic “Should we give gifts instead of lucky money?”
The Art of Giving Lucky Money: A Guide to a Meaningful Tradition.
“The Lunar New Year lucky money tradition is a beautiful custom celebrated by the Vietnamese. Discover the unique art of giving and receiving these red envelopes and the dos and don’ts to keep in mind during this festive season.”
