i am interested to know how many of us actually test metals before purchasing. i know i dont test, and just ASSUME the seller is not selling me a whoop d doo fakee. please cast your vote publicly so scammers know if their fakes are fooling you, and if whether or not other upcoming scammers should even bother creating easy fake blobs of metal painted gold or silver cheers ------------------- Remember, the more desperate people become the more FAKEs will be floating around I recommend getting into a routine using quick TESTs to help identify if real gold or silver. Nobody should ever feel uncomfortable testing, cause the golden rule should be ringing in all of our heads - treat others how you want to be treated. Don't sit on your hands and wait to hear about one of your mates or friends being ripped off before you decide to TEST everything. .
I do test weight, and have done the water displacement test on a few pieces and on bars have even made fine nicks with a scalpel and as of yet have bot bought any dud stuff
I just assume that the metals I receive from dealers and members are legit. I am currently fondling a 1912 Barber half dollar. The guy that gave it to me did indeed looked a bit suss, but I thought his wife was sweet, so therefore, i trust him. The taxi driver that dropped them off, now that is a different story And listening to Lana
I've only bought from the Perth Mint and Gainsville. I would never buy off eBay, or from someone I didn't know. Because I've only bought from those two places, I haven't tested. But if somethings too good to be true, it usually is. If someone looks dodgy, they usually are. If you think I'm hitting on your daughter, I probably am.
Bought from ebay, this forum, dealers and never tested before buying. Have water displacement tested after buying, but quickly found that to be a pain in the a$$. Never been served up a fake.
Good point W&F. I must admit I haven't tested a thing, don't know how! I own bugger all gold, if I did I'd be more inclined to test that if it wasn't coming from the Perth Mint or other reputable company. If I got a bargain from a person I'd likely find out how to test it.
I have only bought from dealers with the exception of predecimal coins... so no. That being said, what are the easiest ways to test 'in the field'?
While I'm a rookie in this game, it seems that by and large the stackers' community are good people who recognise that we can all do well in this game (we're either hedging, or competing with the paper merchants by owning physical). I have only sold and bought via the members only forum, and for most members I suspect that it's worth more to have a solid and enduring reputation than to pass off some dodgy metal. May this continue to be the case!
I buy mostly at a local shop and i weight test when i get home. Id rather not insult them in front of other customers. No issues to date. I have just ordered online and cant wait for that to come in!
what if you melted 100 x 1oz silver coins and 5% were fakes, then poured them into 10oz bars, wouldn't it be hardly noticeable? do people test brand new bars? like ss bars or sthx bars, could they of been made with fake silver content or does the fakeness separate when it's poured? I think fake can become more collectable then genuine sometimes, wouldn't be many bullion stores with signs saying, fake bullion for sale, so it's not as common as real silver. I'd actually like a fake set of everything perth mint made, just for display and would make a good distraction for thieves, thinking they hit the jackpot, but i'll still chase 'em down the road with a machete' fake or not.
Well lets suppose you buy a 100 1ozs silver coins at a premium over spot at say todays prices of $37 each..ie you have spent $3700..Now 5% are fake and you pour them all into 10 ozs bars and you sell them at spot plus 10%. spot $30 plus $3, then for 10 bars you get only $3300. Thats why a lot of stackers prefer to buy 1ozs silver coins at a premium because as yet no fakes have appeared amongst Australian 1ozs coins. 10 ozs bars, now thats a different story..How can you test if a 10ozs bar is 100% silver without spending money. Regards Errol 43
but if them coins were generic rounds then it would be closer to spot, like $30 each, an if you could slip in your own fakes, that cost you nothing then it would be worth it wouldn't it? I have wondered why some private bars are .9995 or .999+ I think they might figure that if 50% is 999 and 50% is 9999, then it should all be 9995 or 999+
interesting, i know your heart is in right place, but surely 'they' would not hesitate to TEST if they were buying from you? also, if 'they' did sell you a fake isn't it better for others to also witness? what is done in darkness should be exposed to the light
Ignorance is bliss. If I am sold something fake, and then unknowingly onsell that item, I'll never even know.
Visual inspection only for me but I stick to buying coins. If I get a bar it will be direct from Perth mint. Junk predecimal coins are worth more if they are fakes but I still don't check. Too trusting for my own good.
I only buy coins and then only: a) .999 fine with a recognisable design (eg Lunar, Kook, Koala, Maple etc) b) Junk silver coins like Canadian $1 from the 1960's which wouldnt be economic to fake given silver's spot price.
