Buy Certified Silver

Hi All,

As I start to slowly dip my feet back in this market... I'm thinking ahead (something I wish I had of done first time around) as to the best type of metal to stack....

Where the metals are headed price wise, I think there is a good reason to be concerned about forgery in the future. Infact, we're already seeing more and more forges in the market (coins and bars). I think the premiums paid for these items now will be returned to you for piece of mind in the future...

If silver ever gets to $50 for any real length of time or god forbid, $100... then can u imagine the amount of silver forges coming out of the woodwork!? No-one will trust anyone and only certified stuff will sell in the secondary market IMO.

I am now only going to buy certified bullion only... that is, bullion either with its accompanying certificate, and/or security card/cert number.

Over the past few days I've paid between 31-32.50 AUD per oz for PAMP certified. Not exactly cheap.... but I think that premium will be repaid in full and maybe even more when I go to sell it... I consider it an insurance policy

 

Interesting topic, thanks for raising the question.
I like the idea behind certified metals too.
What are the options out there besides PAMP? For larger items that is: AG: 1kg bars, AU: over 1oz (not certicards stuffs)

The other thing to consider though is that if forgery was to become more spread out, surely the main and most renown brands would be targeted first: PAMP would be targeted before Perth Mint, before ABC for instance.

Also the PAMP certificates would probably prove very easy to counterfeit: they do look very simple.

Thoughts?

 

they have already done a 10oz gold pamp. found to be full of tungsten

 

I like the idea however not everyone will know as much as we do about PMs so you could still stock low premium or non certified silver for those not so savy IMO

Maybe it would be wise to stock up in metal testing kits and sell those above spot

 

maybe if it gets to that level and you want to sell just go down to a major dealer and sell it to them they should have access to an XRF. Ofcourse that means pandas or other premium coins you wouldnt sell them for spot so aussie bullion coins and bars will do

 

go for the silver bullets, keep them in a big wooden treasure chest :lol:

 

so the forgers are not able to stamp a bar with a number or make a identical copy of a freely available certificate?

 

You'll always pay a premium for Pamp bars but you get that back plus when you upside. As you said cheap insurance

 

Good in theory
BUT
As I sell my bullion to the same local dealers I buy from
Care factor ZERO for premiums

 

Totally agree. Perth Mint coins especially being a legal tender make the most sense to me because anyone caught selling fake PM coins in Australia would be aggressively pursued by the federal police and the government and be charged with counterfeiting Australian currency which is much worse offence than forging a bar or round. Chinese factories could make copies of PM coins but selling them in Australia would be insanely risky for anyone.

 

Stick with perth Mint i reckon, they are our local coins

 

Sorry should also clarify. Only buying 1/2 kg bars for silver and 1oz bars for gold.

The smaller packaged bars are less likey to be forged and the potential loss if one is forged is minimal. I also will be buying from a wide array of respected dealers rather than all eggs in one basket.


I'm not saying its foolproof....nothing is...

 

Stella,

What do you think of these bars? They're new, but each bar is serialized and can be looked up online.


http://www.gainesvillecoins.com/products/160464/10-oz-silver-bar-trident-999-pure-silver.aspx

 

Hmmm

Let's be contrarian, just for the sake of it

The first set of problems is that the certificates and packaging are actually a lot *easier* to forge than the material.

Secondly, by plastic-wrapping you are actually preventing XRF (or acid, of course). (I stand corrected on this - thanks!)

Finally, if you haven't paid a premium up-front, and fraud is becoming an issue, selling to a refinery is still a negative premium option.

I admit to having bought a Geiger SL 'cos it looks sexy. Punish me.

 

Id say the kilo pm coins are a safe bet.. Not too much over spot either. Numi potential as a bonus.

 

The new scottsdales are good, the swirl which might be hard to copy plus the extra work involved making it (interlocking not poured). Invest in an ultrasonic tester also, they aren't expensive and you can use it on both sides of a trade.

 

Looks like more dirty old uncertified silver available for the normal people then . Damnhighfallutinposhlowfatlatedrinkingyuppiesnowtheywantacertificatelolhahahalol :lol:

 

If it becomes a problem I'm sure dealers will happy start testing & issuing test certs service for a price, another income stream for them.

 

the technology of the foreseeable future would be unimaginable.

so we need not worry about possible fake, may be we need to worry if we can be allowed to be selling our hoard in that future =|