Silver purchase

Discussion in 'Silver' started by Tabbitt, Aug 7, 2012.

  1. Tabbitt

    Tabbitt New Member

    Joined:
    Feb 9, 2012
    Messages:
    17
    Likes Received:
    0
    Trophy Points:
    0
    Recently I purchased a small amount of silver coins from goldsilver. com I have heard of silver coins being easily forged, is there a way of checking the validity of my coins or is there someone who confirms the purity of silver?
     
    Tabbitt, Aug 7, 2012
    #1
  2. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
    What are they??
     
    thatguy, Aug 7, 2012
    #2
  3. psujeepguy

    psujeepguy New Member

    Joined:
    Jun 15, 2012
    Messages:
    13
    Likes Received:
    0
    Trophy Points:
    1
    A couple quick tests I know of:
    #1 Magnet test - obviously silver is not magnetic
    #2 Weigh them - a 1oz coin should weigh about 31.1 gram

    I guess these are not totally definitive, but it is a place to start.
     
    psujeepguy, Aug 7, 2012
    #3
  4. grinners

    grinners Active Member Silver Stacker

    Joined:
    Mar 19, 2011
    Messages:
    1,183
    Likes Received:
    3
    Trophy Points:
    38
    Location:
    Australia
    If you bought your coins from goldsilver.com then they are not fake...
     
    grinners, Aug 7, 2012
    #4
  5. mike titanic

    mike titanic New Member

    Joined:
    Jan 12, 2012
    Messages:
    183
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    USA
    Buying from a well known and respected dealer is nearly always safe from fake coins.The things to watch out for is a stranger who calls you without you initiating the contact and tries to get you to buy NOW you cant wait you must buy it now.I would also be wary of buying coins from e bay.I have bought about 100 coins from e bay and have also rejected some of the coins offered.Watch out for blurry pictures,someone who says no returns,and anyone who is selling a gold or silver coin for much less than spot.Get to know about the coins you are interested in before you buy them.Do some research and ask about them on forums like this.
     
    mike titanic, Aug 7, 2012
    #5
  6. Tabbitt

    Tabbitt New Member

    Joined:
    Feb 9, 2012
    Messages:
    17
    Likes Received:
    0
    Trophy Points:
    0
    Thanks Guys I am just starting down this road, but the journey looks exciting, I hope Benanke and the boys keep this fiat currency going long enough for me tontake advantage of it.
    Ps "hat guy" the bible and the fiat currency, have the same truths, to stop man from going forward!
     
    Tabbitt, Aug 9, 2012
    #6
  7. Levant

    Levant New Member

    Joined:
    Jul 31, 2012
    Messages:
    58
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Brisbane
    A one ounce lead coin will weigh 31.1 grams.
    A one ounce steel coin will weigh 31.1 grams.
    A one ounce copper coin will weigh 31.1 grams.

    This is not a purity or genuineness test...
     
    Levant, Aug 9, 2012
    #7
  8. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

    Joined:
    Jun 5, 2010
    Messages:
    15,809
    Likes Received:
    2,602
    Trophy Points:
    113
    Location:
    here there everywhere
    And you'll find when they make fakes .
    They never weigh anywhere near what they should be , for example fake silver dollars should be 28.7gm .
    The fakes I've seen down to 18gm for a fake silver dollar .They are normally made to the same size but not the weight.

    If you newbies are so paranoid about fake coins .
    I recommend you don't invest in bullion until you have done lots more homework on the subject .

    AND

    This question has been done to death ,so please USE THE SEARCH FEATURE ;)

    :D
     
    spannermonkey, Aug 9, 2012
    #8
  9. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    581
    Trophy Points:
    113
    This.
     
    goldpelican, Aug 10, 2012
    #9
  10. House

    House Well-Known Member Silver Stacker

    Joined:
    May 1, 2012
    Messages:
    9,527
    Likes Received:
    287
    Trophy Points:
    83
    Location:
    Stack City
    House, Aug 10, 2012
    #10
  11. bordsilver

    bordsilver Well-Known Member Silver Stacker

    Joined:
    May 23, 2012
    Messages:
    8,717
    Likes Received:
    304
    Trophy Points:
    83
    Location:
    The rocks
    radiobirdman surely has. I know he carries make-up in his handbag ;)
     
    bordsilver, Aug 10, 2012
    #11
  12. damien192x

    damien192x New Member

    Joined:
    Apr 12, 2011
    Messages:
    98
    Likes Received:
    0
    Trophy Points:
    0
    Doesn't matter if it's a fake. Just stick it into a large batch and sell it to someone else, I was so pissed off when I realized I'd received a fake $50 note in change last year, but I went and spent it elsewhere. Phew.
     
    damien192x, Aug 11, 2012
    #12
  13. SULLA

    SULLA Member Silver Stacker

    Joined:
    Feb 11, 2012
    Messages:
    812
    Likes Received:
    24
    Trophy Points:
    18
    Location:
    Earth
    \

    You're off my trade with list!
    Advising others here to rip-off fellow members!

    You should be banned!
     
    SULLA, Aug 11, 2012
    #13
  14. Black_Sun

    Black_Sun New Member

    Joined:
    Dec 10, 2011
    Messages:
    1,031
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
    +1 Absolutely dodgy mate... and we believe that you would do just that. Wow. Dodgy as...
     
    Black_Sun, Aug 11, 2012
    #14
  15. warrenworthingtoniii

    warrenworthingtoniii New Member

    Joined:
    Aug 3, 2012
    Messages:
    47
    Likes Received:
    0
    Trophy Points:
    0
    Don't go with goldsilver, Alibaba is the place to be.

    I'm kidding of course.
     
    warrenworthingtoniii, Aug 16, 2012
    #15

Share This Page