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ChrisSilver

Founder & Administrator
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    United Kingdom

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  1. Like
    ChrisSilver got a reaction from Lacostalot in Hindsight is a wonderful thing!   
    I think there should be some topics on the forum somewhere with some information about this subject, I think it may have been discussed multiple times. If you use the search feature (top right) you may be able to find  
    If you are unable to find please feel free to start a topic in the silver section (presuming it’s a silver coin you are talking about) and members should be able to help.
    I haven’t ever cleaned a coin personally myself so can’t advise, but be careful as you could easily damage a coin. I do know that other members on the forum have tried cleaning coins before.
    Hope that helps  
  2. Like
    ChrisSilver got a reaction from Lacostalot in Hindsight is a wonderful thing!   
    Hello Shane, welcome to The Silver Forum  
  3. Super Thanks
    ChrisSilver reacted to dicker in Spotting Precious Metal Scams   
    Hi All,
    I thought it would be useful for to add a thread on gold / precious metal scams.  
    There have been a few questions posted over the last year that indicate that some new forum members might be being scammed or are thinking about taking part in a "venture" that is is a scam....or worse being used to launder money.  This post can be used as a 'lookup' for new members and also for forum members to flag any scams that they have seen.
    Forum members, please do flag up scams or any other advice that would be helpful to people.
    Best
    Dicker
     
    The "Hook"
    A gold scam is the same as any other scam - someone is trying to entice you into parting with your money for a product that does not exist and you will never receive.The 'hook' to catch your interest is often the prospect of making significant money by buying gold at a discount.  Margins on PM's are tight and you will find that even miners in remote regions of third world countries know the price of gold!
     
    Types of Scams
    Financing the importation of gold - Where there is a spurious source i.e. Gold looted from from Saddam, Gadaffi, ISIS, a corrupt mine manager etc  Financing the purchase and sale of gold in another country  - You are invited to fund the purchase and sale of gold using a bogus tax scheme - you are supposed to get the profits when the deal is completed Buying gold dust - "left over" from a mine crusher, smelting plant etc Buying from an fraudulent online dealer - Who has just setup shop and is selling gold at a deep discount Buying from a corrupt politician / government employee - Who just happens to have access to a load of gold Tax avoidance - Funding the purchase and sale of PM's across different tax jurisdictions with you taking a cut of the profits My client wants to buy a lot of gold - Or a bullion dealer, or a refinery.  This is essentially where a victim has been "won over" by a scammer and is then being used to scam others.  We had an example on this forum a while ago where a member was enquiring about buying vast quantities of gold (central bank quantities) or a large refinery...  I think in the end the forum member left, still thinking that we were wrong and she was had a client who wanted that quantity of gold..... Money laundering - You are used to move money around using your bank account (private or company), on the premise you are dealing gold, whereas you are moving money that comes from the proceeds of crime (mostly drugs)  
    No one would fall for that right?
    Sadly people do, and more frequently than people think - especially senior citizens.  Many scams are extremely elaborate, well planned and well financed, with months or years in the making.
    Sending a sample as a 'convincer' - To convince a victim that they are genuine, it is not unknown (but not common) for a scammer to send a sample of gold to a victim for testing.  "Keep the 1/10th ounce sample, we have lots more......" More common is a video or documentary evidence of gold being tested with a piece of paper with your name on.  The gold may be real or may be totally fake, but you won't know Most frequently, stock photos of gold seem to be used as part of scam - using Google Image Search or Tineye is good for searching for the picture to see if it has been used elsewhere Pushy People - Frequently scammers are pushy, with a time frame and deadline put in place to pressurise you to handover cash Scammers are not necessarily pushy, and are willing to play the long game - for example selling a victim 2oz gold at 30% under spot, then waiting for the victim to say - lets do it again with 30oz's Documentation and Websites - Are sometimes surprisingly well put together, and enough to fool a non-expert Wire Transfer - Having a BIC Code and asking for payment by SWIFT MT103 dent mean the recipient is genuine  
    Spotting Scams
    Stranger danger - The majority of fraud against an individual is carried out by someone not known to them (but there are of course exceptions) Too good to be true - buying PM's significantly under spot doesn't happen - the market is too 'tight' with margins and pricing to match.  (Check the Forum Sale section - you are lucky if you can buy gold for Spot!) Dubious legality - Some scams purport to be close to the law, or in breach or it in order to make money, or someone says they have found a 'loophole'.  Example smuggling gold to avoid tax, claiming tax rebates on gold in another country Urban Legends - Were you hear of gold discovered and belonging to Gadaffi, Hitler, Saddam, that was left in a bank or looted only to be found by the scammer Government Involvement - The person you are dealing with purports to be a government minister, judge, central bank officer - they will not be, even in very non-democratic countries Payment by Western Union, Moneygram - these are immediate red flags.  Both of these companies have implemented checks for 419 scams (sending cash to West Africa and elsewhere) but it remains essentially an anonymous way to receive funds  Cash - To date, all of the scams that I have seen have involved the victim sending cash (physical or by wire) rather than precious metals, but this may not always be the case Google is your friend - Google the name of the company and the person you are dealing with - it doesn't take long to find that (or example) Judge Thomas Mensa of Ghana is in fact deceased, and not in possession of $USD20 million of gold he wants to sell to you at a discount (Mail I received last week...) Your personal information - Scammers often want your personal details ASAP The location of the scammer - From what I have seen (and I appreciate this is anecdotal) a large proportion of the gold scams originate from West Africa, and particularly from countries where 419 Fraud is common  
    The following is a good watch and explains why people get caught out and then cannot stop funding a gold scam.   
     
  4. Like
  5. Like
    ChrisSilver got a reaction from ibis09 in Suggested sale format. Example: 2020 Sovereign NGC PF 70 Brown Label   
    We suggest you to list your listings with a format similar to this:
    2020 Perth Mint 1oz Swan Silver NGC PF 70 Brown Label

    You may wish to list each separate graded coin as a separate listing.

    Here are some other example suggested formatted titles:

    2020 Sovereign NGC PF 70 Brown Label
    2020 1oz Panda Silver NGC MS 69 Brown Label
    2020 Sovereign NGC PF 70 Blue Label (Early Releases)
    2020 Sovereign NGC PF 70 ER (Early Releases)
    2020 Sovereign NGC PF 70 FR 

    2020 Sovereign PGCS PF 70 
    2020 Sovereign NGC PF 69 First Strike
    2020 Sovereign NGC MS 70 FDOI (First Day of Issue)
    You may of course wish to use a different format for the title, the above is just a suggestion  



    For those who are new to graded coins

    The NGC and PCGS are both considered to be the top tier grading companies within the industry. Some collectors prefer NCG and some prefer PCGS and some collectors collect both. Their grading system is essential the same, with a 70 being the highest. For modern proof coins most collectors like to collect a 69 or 70, for older coins or circulating coins much lower grades are acceptable. 

    Most modern coins will likely be either a MS (Mint State) so bullion coins for example, or PF (Proof). A lot of modern proofs also have a UC (Ultra Cameo) / DCAM (Deep Cameo)* finish, which basically means that they are very reflective, this finish is achieved by the methods used when they strike the proof coin. 

    *both UC and DCAM are the same, UC is the terminology assigned by NGC, and DCAM is the terminology assigned by PCGS

    How the NGC coin grading system works

    How the PCGS grading system works
     
    BN  =  Brown PF  =  Proof CA  =  Cameo PL  =  Prooflike DPL  =  Deep Prooflike RB  =  Red Brown FB  =  Full Split Bands RD  =  Red FBL  =  Full Bell Lines SP  =  Specimen FH  =  Full Head UC  =  Ultra Cameo FT  =  Full Torch 5FS  =  Five Full Steps MS  =  Mint State 6FS  =  Six Full Steps
    Source: The above chart is taken from NGC
     
  6. Like
  7. Thanks
    ChrisSilver got a reaction from Tn21 in Sales etiquette   
    In my opinion It is polite to offer the item for sale to the first person that offers the asking price, whether the interested buyer has made contact by PM or by posting in the trade topic. But there is no official rule on this, the seller can choose who they sell to. The same as the buyer can choose who to buy from.

    When I sell an item I always give preference to the first person who offers the full asking price. My personal opinion is that this is the best way to sell an item, as it is fair and honourable. 
  8. Like
    ChrisSilver got a reaction from silversurf in Today I Received.....   
    2017 50th Anniversary Krugerrand 1oz silver coin. PF 70.  


     

  9. Thanks
    ChrisSilver got a reaction from stackerp5 in Hello from the UK!   
    Hello and welcome to The Silver Forum  
  10. Thanks
    ChrisSilver got a reaction from Tn21 in Sales etiquette   
    In my opinion It is polite to offer the item for sale to the first person that offers the asking price, whether the interested buyer has made contact by PM or by posting in the trade topic. But there is no official rule on this, the seller can choose who they sell to. The same as the buyer can choose who to buy from.

    When I sell an item I always give preference to the first person who offers the full asking price. My personal opinion is that this is the best way to sell an item, as it is fair and honourable. 
  11. Thanks
    ChrisSilver got a reaction from Tn21 in Sales etiquette   
    In my opinion It is polite to offer the item for sale to the first person that offers the asking price, whether the interested buyer has made contact by PM or by posting in the trade topic. But there is no official rule on this, the seller can choose who they sell to. The same as the buyer can choose who to buy from.

    When I sell an item I always give preference to the first person who offers the full asking price. My personal opinion is that this is the best way to sell an item, as it is fair and honourable. 
  12. Thanks
    ChrisSilver got a reaction from Tn21 in Sales etiquette   
    In my opinion It is polite to offer the item for sale to the first person that offers the asking price, whether the interested buyer has made contact by PM or by posting in the trade topic. But there is no official rule on this, the seller can choose who they sell to. The same as the buyer can choose who to buy from.

    When I sell an item I always give preference to the first person who offers the full asking price. My personal opinion is that this is the best way to sell an item, as it is fair and honourable. 
  13. Thanks
    ChrisSilver got a reaction from Tn21 in Sales etiquette   
    In my opinion It is polite to offer the item for sale to the first person that offers the asking price, whether the interested buyer has made contact by PM or by posting in the trade topic. But there is no official rule on this, the seller can choose who they sell to. The same as the buyer can choose who to buy from.

    When I sell an item I always give preference to the first person who offers the full asking price. My personal opinion is that this is the best way to sell an item, as it is fair and honourable. 
  14. Super LOVE
    ChrisSilver reacted to AuricGoldfinger in Full Stack / Full Collection Photos   
    A few less britannias but i have finally breached 100 sovereigns so thought i would mark the occasion with an updated stack picture!

  15. Like
    ChrisSilver reacted to JBrans in Full Stack / Full Collection Photos   
    Yes indeed! Who said Latin was boring?
    Here's a better view at the gold.
    They are 4 10 Gulden coins, with all four versions of Wilhelmina, heir to the throne as early as 11 years old. The two with heads up are from 1897 and 1898, the other two are from 1911 and 1925 showing the backside. 
    There is also one golden Dubbele Dukaat. The weight is close to 1/4 oz, and the 10 Guldens closer to 1/5 oz.
     

  16. Super Like
    ChrisSilver reacted to JBrans in Full Stack / Full Collection Photos   
    Little update, gained some weight

  17. Like
    ChrisSilver reacted to The1GramMan in Full Stack / Full Collection Photos   
    So here is my Stack, new to this but love the coins I have and can't wait to expand my collection
     

  18. Thanks
  19. Super Like
    ChrisSilver reacted to Clockpuncher in Cheapest Gold Bullion   
    get yourself a premium membership on the silver forum and gold regularly trades here at spot + 2-4%
     
  20. Super Like
    ChrisSilver reacted to dicker in Buying gold from oversees and sell UK Customs rules?   
    Just to add......
    Whilst I work for a bank and cannot and will not give anything away about anti-money laundering, I would say...
    (1) Margins on gold are tight - if there was significant money to be made on physical gold import / export, banks and forum members would do it (as long as it was legal).  
    (2) I have seen many, many types of scams (some possibly money laundering operations) that focus on buying 'cheap' gold, importing and selling. Worth googling, but this is a start.  https://www.mining.com/how-to-avoid-being-caught-in-a-common-gold-scam/
    Best 
    Dicker
  21. Like
    ChrisSilver got a reaction from dicker in Buying gold from oversees and sell UK Customs rules?   
    Please do a search as this has been discussed many times recently.
    There seem to be a lot of new members asking this question, which seems suspicious.
    You can bring any amount of Gold into the U.K. as long as the gold was not bought with funds that originated from illegal / criminal activities. If you have a genuine legitimate source of income in the U.K. then there is no issue to declare the gold.
    But it sounds like you are trying to do some sort of business. Please read the forum rules in regards to businesses on the forum.
    The question is, why do you want to import so much gold and why are you worried about declaring or sitting down to answer questions from a customs official?
     
  22. Like
    ChrisSilver got a reaction from dicker in Buying gold from oversees and sell UK Customs rules?   
    Please do a search as this has been discussed many times recently.
    There seem to be a lot of new members asking this question, which seems suspicious.
    You can bring any amount of Gold into the U.K. as long as the gold was not bought with funds that originated from illegal / criminal activities. If you have a genuine legitimate source of income in the U.K. then there is no issue to declare the gold.
    But it sounds like you are trying to do some sort of business. Please read the forum rules in regards to businesses on the forum.
    The question is, why do you want to import so much gold and why are you worried about declaring or sitting down to answer questions from a customs official?
     
  23. Like
    ChrisSilver got a reaction from PatrickGee in Panda Photo thread...   
    1oz 2006 Panda

  24. Like
    ChrisSilver got a reaction from trp in Silver to go   
    Hello and welcome to The Silver Forum  
    This has been discussed many times. For example in this topic:
    Also please see their Dealer Directory listing: 
     
     
     
  25. Super Like
    ChrisSilver reacted to HighlandTiger in Perth Mint silver stock horses, cheap as chips.   
    So, we now have some Perth Mint 1ozt silver stock horses for sale with certificates. As far as I can see, there are no milk spots ūüėĀ
    3 X 2013
    3 X 2014
    2 X 2015
    £34 each plus postage.
    But if someone wants all 8 then I'll include free special delivery shipping
    PPFF or BT 
    Better be quick, my other sales have gone in minutes. 

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