Fake SILVER

[RedRockGirl]

I saw a silver sale post on BS recently. Someone commented that the coins being sold were the most common fake China made coins (Sunshine, Pan American, and American Prospector) and the sale was pulled.
How do you keep from buying fake coins? The "buy it here from reputable people" line doesn't work, because even reputable people here can be duped. I've been spooked from buying anything but junk.

http://www.ozcopper.com/fake-silver-warning/

[beauanderos]

That's an excellent reason to stick with junk... until they start faking that too But, I suspect, that won't happen until silver soars to much higher levels. You could buy from someone (that you trust) if they told you they bought Mint Direct online, and offered a money back guarantee, no questions asked. Counterfeiting will become a real problem

[Hawkeye]

I got burnt by a fake Chinese panda on ebay when I first started out buying silver. I kept it to remind myself to be careful (once burned, lesson learned). I don't know that there is really any foolproof way to guarantee authenticity when ordering online. It really does all come down to trust, but that's not even perfect. Honest people can make honest mistakes. I would just say to stick with reputable dealers and people you trust and stick with 90%/80%/40% junk and government rounds. Just my 2 cents.

[beauanderos]

I got burnt by a fake Chinese panda on ebay when I first started out buying silver. I kept it to remind myself to be careful (once burned, lesson learned). I don't know that there is really any foolproof way to guarantee authenticity when ordering online. It really does all come down to trust, but that's not even perfect. Honest people can make honest mistakes. I would just say to stick with reputable dealers and people you trust and stick with 90%/80%/40% junk and government rounds. Just my 2 cents.

you think they don't fake govt rounds? You'd be wrong.

[Hawkeye]

I got burnt by a fake Chinese panda on ebay when I first started out buying silver. I kept it to remind myself to be careful (once burned, lesson learned). I don't know that there is really any foolproof way to guarantee authenticity when ordering online. It really does all come down to trust, but that's not even perfect. Honest people can make honest mistakes. I would just say to stick with reputable dealers and people you trust and stick with 90%/80%/40% junk and government rounds. Just my 2 cents.

you think they don't fake govt rounds? You'd be wrong.

I wouldn't be surprised if the government itself started faking them. I just meant that buying an ASE from AMPEX might be more secure than buying a random .999 round on ebay. But junk silver is still going to be the best bet, IMO.

[beauanderos]

I think the only way to be safe is buying solid date eagle rolls (or whatever) from some of the Big online dealers. You buy anything second-hand... there's risks involved. LCS dealers are getting faked out all the time by how good the counterfeits are becoming.

[theo]

We could also talk about how to spot fakes. The easiest way that I know is the magnet test. Silver is not magnetic, but lead (correction steel) is. The second easiest way is weigh it on a digital scale. I believe fakes are usually (but not always) lite. So if your one ounce Chinese silver panda only wieghs 29 grams, you have a problem. There are also ways to check thickness and diameter, but I'm sure other RCers know more about that.

[Thogey]

Lead is not magnetic.

[Robarons]

Counterfeiting Gov't Rounds carries stiff fines and legal actions if done. Not only are you counterfeiting a govt product, your counterfeiting currency which is a big no-no.

For example if you see fake Silver Maples this may reduce the trust and popularity of these coins. You can bet the Canadian Govt and Royal Mint aint going to sit and let that happen. In fact China is the only govt in the world that does NOT care about people counterfeiting Govt coins which is odd.

I do not by any Chinese products for this reason

[theo]

Lead is not magnetic.

Oops. I thought it was.

[natsb88]

Counterfeiting Gov't Rounds carries stiff fines and legal actions if done. Not only are you counterfeiting a govt product, your counterfeiting currency which is a big no-no.

For example if you see fake Silver Maples this may reduce the trust and popularity of these coins. You can bet the Canadian Govt and Royal Mint aint going to sit and let that happen. In fact China is the only govt in the world that does NOT care about people counterfeiting Govt coins which is odd.

I do not by any Chinese products for this reason

Really? Because China has been cranking out fake Maples for a couple years. You can buy them in bulk for less than $1 a piece.



There is also fake 90% out there, though it's mainly key dates and dollars. Still, when 90% is traded in bulk, it would be very easy for a few fakes mixed in to slide through unnoticed.

[beauanderos]

Counterfeiting Gov't Rounds carries stiff fines and legal actions if done. Not only are you counterfeiting a govt product, your counterfeiting currency which is a big no-no.

For example if you see fake Silver Maples this may reduce the trust and popularity of these coins. You can bet the Canadian Govt and Royal Mint aint going to sit and let that happen. In fact China is the only govt in the world that does NOT care about people counterfeiting Govt coins which is odd.

I do not by any Chinese products for this reason

Really? Because China has been cranking out fake Maples for a couple years. You can buy them in bulk for less than $1 a piece.



There is also fake 90% out there, though it's mainly key dates and dollars. Still, when 90% is traded in bulk, it would be very easy for a few fakes mixed in to slide through unnoticed.

The more I think about it, the gladder I am that I slowed down on selling 90%. Some day the premium attached will be due not to scarcity, but bestowed for probable authenticity. This is one reason I scoop up TPG slabbed Eagles (when the price is reasonable) whenever I can. Same with slabbed gold.

[beauanderos]

the only legitimate reason to own (or buy) fakes would be for your fake safe. Now that would be funny... if some crooks got caught peddling fakes to LCS or pawn shops... that they had stolen

[NDFarmer]

the only legitimate reason to own (or buy) fakes would be for your fake safe. Now that would be funny... if some crooks got caught peddling fakes to LCS or pawn shops... that they had stolen

That would be justice wouldn't it?

[Hawkeye]

the only legitimate reason to own (or buy) fakes would be for your fake safe. Now that would be funny... if some crooks got caught peddling fakes to LCS or pawn shops... that they had stolen

That's awesome. I had not thought of that. Now I need to find some fakes to buy (super cheap, of course).

[Z00]

I have a number of fakes in my "diversion" box that is "hidden" in my underwear drawer.
LOL

Bought them direct from China. CHEAP

[Thogey]

the only legitimate reason to own (or buy) fakes would be for your fake safe. Now that would be funny... if some crooks got caught peddling fakes to LCS or pawn shops... that they had stolen

That's awesome. I had not thought of that. Now I need to find some fakes to buy (super cheap, of course).

You don't need to spend that much money and effort on fakes to get the same satisfaction.

Wrap a box of dog crap up like a b-day or christmas gift and leave it in the back of your truck in the mall parking lot.

[Rodebaugh]

Seems like someone needs to put together an often faked probability list.

In such a list I would think that the lowely rosie dime would be the king of authenticity. Never seen or even heard of a fake yet. Heck even the Merc would probably be number #2 on the list of "safe buys". If and when they are faked its just to gain numistmatic value. So the 90% silver host coin is still there just with an extra mint mark.

Now who would be at the bottom of the list?

[Hawkeye]

Seems like someone needs to put together an often faked probability list.

In such a list I would think that the lowely rosie dime would be the king of authenticity. Never seen or even heard of a fake yet. Heck even the Merc would probably be number #2 on the list of "safe buys". If and when they are faked its just to gain numistmatic value. So the 90% silver host coin is still there just with an extra mint mark.

Now who would be at the bottom of the list?

I have heard that old British gold sovereigns are the most faked coins in the world, but I don't know how accurate that is. But I haven't ever bought one for that reason, even though they are awesome looking coins with a great history.

[creshka46]

Now who would be at the bottom of the list?

Trade dollars?

[Rodebaugh]

Now who would be at the bottom of the list?

Trade dollars?

I would agree for US silver Numi coins. But think more from a bullion perspective. Morgans, ASEs, certain rounds?

Maybe we should list as many of the normal Silver bulk hoarding options and then rate them.

[NHsorter]

Wrap a box of dog crap up like a b-day or christmas gift and leave it in the back of your truck in the mall parking lot.

I might have to try that! Would be even better if you could devise some sort of way to make the crap get flung out of the box as soon as it was open, jack-in-the-box style.

[NHsorter]

Wrap a box of dog crap up like a b-day or christmas gift and leave it in the back of your truck in the mall parking lot.

I might have to try that! Would be even better if you could devise some sort of way to make the crap get flung out of the box as soon as it was open, jack-in-the-box style.

Anyone here friendly enough with a teller to get one of those ink grenades?

[Treetop]

Counterfeiting Gov't Rounds carries stiff fines and legal actions if done. Not only are you counterfeiting a govt product, your counterfeiting currency which is a big no-no.

For example if you see fake Silver Maples this may reduce the trust and popularity of these coins. You can bet the Canadian Govt and Royal Mint aint going to sit and let that happen. In fact China is the only govt in the world that does NOT care about people counterfeiting Govt coins which is odd.

I do not by any Chinese products for this reason

Really? Because China has been cranking out fake Maples for a couple years. You can buy them in bulk for less than $1 a piece.



There is also fake 90% out there, though it's mainly key dates and dollars. Still, when 90% is traded in bulk, it would be very easy for a few fakes mixed in to slide through unnoticed.

How do you even test these then? I dont even have a scale, and have some maples. Just bought a roll from a member here actually. Happens to be 2011 like in the video.

[NHsorter]

You are probably safe, but a scale is a good thing to have and you can get a decent one for coin weighing purposes on Amazon for really cheap. I liked mine so much that I got one for my desk at work and one for my truck as well. Never know when you might need it! Weigh, magnet, measure. All easy and cheap to do and will expose most fakes non-destructively.