Fake coins

[Dave]

Would recommend that all members check out this site, and make a list of the coins and bars they see, these coins are on ebay , and other sites, beware. www.alliexpress.com type in silver coins/ or bars

[Danny-boy]

The old Alibaba is terrible for fakes, there a plenty on eBay right now.

Do your tests people, diameter, thickness, weight, rare earth magnet, appearance.

That will weed out 99.9% of fakes in about 20 seconds.

[motorbikez]

I would recommend as I have done myself on a number of occasions report any fake coins on ebay no good sounding off on websites and not doing anything about it.

These Chinese scammers and and the people who sell this crap are debasing our hobby and will no doubt catch out Newbies.

[Danny-boy]

Trouble is, there is a market for them.

I'm going to buy some 10oz fakes in a few weeks for my decoy safe. They will serve that purpose perfectly.

[motorbikez]

Dan not really the wisest thing to do IMHO, you are putting money into these scumbags hands. You've no doubt seen the thread on decoy safes on SS, someone gets into that and realises its crap they'll be back later for the real thing.Mind I don't think we suffer from a huge problem of burglary in this country and anyone getting into your property would go for the usual electronic kit and scarper.

[Danny-boy]

Yeah, it's just a precaution that I have chosen.

I don't think a few silver sprayed bits of wood would have the same effect.

There will be a market for them whatever I do.

Don't credit our UK burglars with too much sense, they would only sell them down the pub and nobody would probably ever realise they were fake.

Everybody has their own ideas on security, I have mine.

With me posting on Internet forums and sometimes getting things posted to my home address, there is a small risk that somebody will break in knowing what I have. In my opinion, a "decoy" safe is the best way for me. It should keep them away from the hidden one.

Probably fairly pointless now I have posted it all up on here. Lol.

[ChrisSilver]

I have only ever bought from reputable dealers.

I do recomend the earth magnet test, if buying from eBay etc.

The chinese make some pretty accurate fake pandas, and I am sure eBay has a lot of fakes, some of which the people selling them don't even realise they are fake. I have never found any silver for good prices on eBay, the eBay price for silver seems to be very inflated. But if you can get a good deal then its worth it, as long as you test your purchases you will be fine as paypal will give you your money back should there be any problems.

[Keithoil]

I was buying some coins at what I thought were a very very good price, the old adage springs to mind "IF SOUNDS TO GOOD TO BE TRUE THEN OT PROBABLY IS NOT". I then received and email from one of the guys who said the coins are fakes and he had retracted my bids fair enough.

 

The one I won turned up I checked it immediately with the magnet and slipped straight down like S&*t of shovel. I contacted the guy straight away and within 20 mins the money had been refunded, don't know if he was genuine or not but I got my money back.

 

I also stated that should he want the coin back he will have too send the postage through, he did not bother.

 

These were all American Eagles.

 

Lesson learned.

 

Cheers

K

[Danny-boy]

I got burned too on some silver world crowns, very magnetically attractive.

Still got them, can't bring myself to bin them!!!

[Keithoil]

Yes I have still kept this one, mind you it does look good!!

[Danny-boy]

Yes I have still kept this one, mind you it does look good!!

Glad your does, mine are horrendous!!!

I bought them sight unseen (grainy photos only) for what would have been an absolute steal.

Live & learn eh?

[Shiny]

One lesson comes from this thread in my view avoid ebay like the plague. Buy from trusted people and reputable dealers. Anything that mentions 100mills of pure silver, tibeten silver, German silver is pure junk.

[Danny-boy]

One lesson comes from this thread in my view avoid ebay like the plague. Buy from trusted people and reputable dealers. Anything that mentions 100mills of pure silver, tibeten silver, German silver is pure junk.

I have to disagree, I think eBay is a great place to buy.

As long as you know what you are buying, and deal inside eBay, the buyer is king. Any sniff of problems and you get your money back in seconds.

Tough on sellers, granted, but buying is good. Plenty of bargains to be had.

If you don't know what you are doing (layered, 100 mils) etc, you shouldn't be on there.

[Keithoil]

I would tend to agree as long as you are careful but as you say Danny-Boy you can always get your money back.

 

I was getting bars and coins delivered in late January and into February for £15.50 - £17 bargains!!!

 

Cheers

K

[Pete]

What scares me a bit are the plated bars and coins that look like the real thing.

They are advertised on eBay all the time and only if you read the small print you might see the word "plate" or "mil".

Nothing in the title says they are fake and as they replicate the real thing an innocent buyer may get fleeced; but worse than that, a buyer thinking he / she got a bargain decides to resell for a profit not realising he / she is passsing on a dud.

Buyer Beware !

[Danny-boy]

What scares me a bit are the plated bars and coins that look like the real thing.

They are advertised on eBay all the time and only if you read the small print you might see the word "plate" or "mil".

Nothing in the title says they are fake and as they replicate the real thing an innocent buyer may get fleeced; but worse than that, a buyer thinking he / she got a bargain decides to resell for a profit not realising he / she is passsing on a dud.

Buyer Beware !

Agreed on all counts.

But you get it home, weigh / measure / magnet and get your money back if it's dodgy.

Their fault for buying a dud, you are ok because you DYODD and the world keeps spinning.

Read the full advert, purchase if you choose and you are fully covered whatever the outcome.

You have to look after number 1, don't worry about the idiots "accidentally" buying fake silver on eBay. It's the same with everything, as practically everything in this world has a Chinese fake on the market.

If you can use a magnet, a scale and a digital caliper then you have nothing to fear.

[Dave]

http://www.bullionstacker.com/viewtopic.php?f=68&t=14224. Look and learn, you will be amazed at what we all DONT know

[Danny-boy]

http://www.bullionstacker.com/viewtopic.php?f=68&t=14224. Look and learn, you will be amazed at what we all DONT know

Registration required.

Any chance of a glimpse at what we all DONT know?

[Danny-boy]

I do know the simple rules of physics that proves whether something is or isn't real silver.

Does that count?

[Dave]

http://www.bullionstacker.com/viewtopic.php?f=68&t=14224#p253712

[Dave]

http://www.bullionstacker.com/viewtopic.php?f=68&t=14224#p253712

I'm hoping that you can access this link . Good info on fakes

[Keithoil]

Hi

 

Will not let me create an account, never mind!!!

[Shamatti]

I'm hoping that you can access this link . Good info on fakes

 

 

Only some of the boards on that forum are accessible to non members. Looks like we would need to sign up to read that thread!

[Keithoil]

Yes, I tried that but it won't let me sign up!!!!!

[ChrisSilver]

What scares me a bit are the plated bars and coins that look like the real thing.

They are advertised on eBay all the time and only if you read the small print you might see the word "plate" or "mil".

Nothing in the title says they are fake and as they replicate the real thing an innocent buyer may get fleeced; but worse than that, a buyer thinking he / she got a bargain decides to resell for a profit not realising he / she is passsing on a dud.

Buyer Beware !

And also be aware it .999 fine layered bars. Sounds like .999 fine silver. But it's just plated.