What should we do with fake metal deals?

[Thogey]

I think this is a good topic that affects all. The question is: What is the best way to handle a counterfeit metal buy.
It is totally possible and likely probable that many fake coins are being sold and bought unknowingly to both parties.
Here on RC, the protocol seems to be " if it's fake the seller sucks it up"
I sent back a silver coin to one of my favorite trading partners a while ago. I believed the silver round to be suspect. He immediately refunded the price of the coin. I sent it back. He cut it in half and tested it. It turned out to be good. I felt like a fool. and told him to keep the scrap and the money. I was wrong and the seller handled the situation in a class manner, as expected from this individual. BTW this incident has not affected our trading relationship.

What should the protocol be? Buyer beware? I have been offered and even bought fake stuff on the street (not RC) from guys who thought their stuff was real, and it wasn't. They were not trying to rip me off. They were just fooled as well.

How should this be handled? It's just going to get worse.

[deacon]

I think along the same lines. If a coin is fake, then the seller has to take the loss. However, I don't think this is a perpetual guarantee. The buyer should be obligated to go through the delivery and verify their purchase in a timely manner. I go through my packages the day after receipt. If the buyer believes something is fake, they should contact the seller within say 30 days.

Like your situation, I also think the coin needs to go back to the seller for their verification. What I don't know is when should the refund happen? Without a return it would be very easy for someone to claim a coin is fake and then get both the coin and a refund.

[brian0918]

One option I'll just throw out there:

[hobo finds]

Sellers must be sure what they are selling. If you are selling something and it has not been checked and the person who buys it gets it checked and its not good, your fault. But what happens if you the seller checked the coin and its good but the buyer says its not! Then what?

[Market Harmony]

http://www.youtube.com/watch?v=E88HEuwInno

[beauanderos]

I bought one of those Sigma Analyzer's for this very reason. It hasn't arrived yet, so I have a large pile of stuff built up I need to authenticate prior to
passing along anything to anyone else (you might have noticed I stopped selling). I have a significant (for me) pile I have bought this summer from a couple of trusted sources... but I still want to verify the coins are genuine before subjecting anyone else to potential fakes. Everyone is operating (I'm assuming, in the case of junk silver) on the basis that any 90% obtained in large lots will be authentic... and yet I suspect that fakes are being mixed in with real stuff when the scammers are selling them to coin shops or online.

[Recyclersteve]

If I buy a bag of silver dimes, I don't expect the dealer has authenticated all 10,000 coins. That is up to me to do.

[Engineer]

If I buy a bag of silver dimes, I don't expect the dealer has authenticated all 10,000 coins. That is up to me to do.

A Ryedale works well for that.