Fake silver

[Bigcheesy123]

Hi everyone

 

I was wondering if anyone has ever got fake silver, or gold from a good dealer.

This question has kept popping in my head, so thought I’d ask my question on here.

Thanks for your time.

Edited February 9, 2022 by Bigcheesy123

[GoldStandardPartyUK]

Never happened to me, that seems very unlikely, 

[Gordy]

The only fake I ever got was from Ebay

The guy sold me a (1oz Silver Funnel Web Spider) 

Got it delivered, as soon as i took it out of the cap I knew it was fake, the weight was off, weighed it and sure enough 28grams 

Slide test it fell of my slider quicker than Leicester got beat of Forest the other day

Contacted him and he sent my money straight back and asked me to destroy it and told me it had 'slipped through' his checks

Low and behold he was still selling this c**p for weeks

I kept it to show my family the differences and to this day I have still not bought myself a legit funnel web... 

Dealers though are different, Id say most if not all are reputable even though we have since discovered some chuck loads on the premium (shh, dont mention it) but we knew that anyway (at least most of us do) 🤣

[SilverPlatinum]

Yes, I heard many times that people got fake silver from dealers.

This could happen if the dealer bought bulk coins from a customer without inspecting them (especially online dealers with staff who do not know anything about precious metals).

Keep in mind there is a difference between a fake coin and a counterfeit coin. For example somebody can fake a US 1889-CC Morgan dollar (same percentage of silver and weight like the original Morgan dollar) so melt value is the same but not the Numismatic value. A dealer can have an XRF machine to inspect the metal contents of that coin but if the dealer does not have experience he/she would not know if the coin is genuine or not because they only rely on the XRF machine to know if it was silver or not.

PCGS and NGC are the companies who would tell you if the coin is genuine or not or an experienced reputable dealer who you trust.

 

 

 

[AgD]

sales plug 😁 theses slides I've got up for sale not only look nice but can sniff out the fakes if you have got some coins in your collection that you are not sure of.

There are loads knocking about now and as mentioned above if dealers buy in bulk then they can still slip through.

 

[Bigcheesy123]

Hi 

thanks everyone for taking time to reply. I have a coin slide, and I know that you can look up the coins measurements, and weight and check that way. Also checking if the coin is magnetic.

Are the machines for testing precious metals worth it? I heard they are quite expensive, I’d love a cheaper one if any of them where worth there weight.

 

👍🏼

[SilverPlatinum]

23 minutes ago, Bigcheesy123 said:

Are the machines for testing precious metals worth it? I heard they are quite expensive, I’d love a cheaper one if any of them where worth there weight.

You do not have to buy one. Build a relationship with one of your local coin shops which has such XRF machine or equivalent and take your coins to them to scan them for you for free (that what I do)😉. And if your local coin shop does not have such machine, then your next option would be a jewelry shop (most of them have those XRF machines because they buy lots of jewelry from customers, and I'm sure they will be happy to examine your coins for a small fee).

 

[SilverStorm]

I buy from reputable online bullion dealers, so no issues with fakes.  Also I typically  purchase current year mintage bullion, so the likelihood of fakes is greatly reduced because they are BU straight from the bullion wholesaler or the Royal Canadian Mint.  And since I have testing equipment, I always independently verify all my purchases to confirm authenticity.  

[dicker]

Personally, no