I found this site interesting regarding fake silver. The first link is to a chinese operation with pic's. http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiting-Ring/ http://www.silverbarter.com/avoid_counterfeits.html The buggers
Thanks for the post. Quite alarming to say the least. On a side note in the second article it says... "As Silver reaches over $50/ounce" I think there would be some happy people on this forum if that happened...... =)
Bastards! My blood boils with rage just reading about it. And then some people show up here and say it's ok to sell this crap as long as it's cheap or somehow indicated (like 100 mills).
As a relatively new stacker I really do appreciate the guidance from the more experienced folk on this forum on these topics. For example my stack almost had a few of the 99.9% Pure BISMUTH SPM Bullion and the above mentioned 100 mills products. Listing like those and the articles above make me very cautious of freebay.
Thank you for the links, we all knew this was happening, it's interesting to see the photos. Reinforces the old adage, buy from trusted sources!
I carry out the sound, magnet, visual, dimension test on the silver bars and coins I buy. Hoping to get a better scale and ultrasonic thickness meter to carry out the specific density test and ultrasonic thickness test. As for gold, I tend to stick to canadian gold maples, specifically the 2013 ones as they have the special mark.
I just got into stacking silver and when researching I was shocked at the amount of fakes out there. Like you, I first shop from a reputable dealer. Then I do a visual, magnet, weight, dimension and ping test. I bought this app in the Android app market called Bullion Test. You hold the coin in your finger tip, tap it, and it measures the frequencies to validate the coin, brilliant app. Right now it supports most 1 oz silver bullion coins.