A little rant dedicated to those allowing FAKE Silver and Gold Bars ,Rounds, and Coins to the Market - Precious Metal Polluters-
Their intention of this is to further stem sentiment in an already weak and one of the lowest sentiment times on record in precious metals. The precious metal polluters, we know who you are.
I am sure I am not the only one that has noticed the massive influx of FAKE gold and FAKE silver products entering the market and I will be one of the first ones to tell you that this is being allowed in order to discourage and confuse any newbie from wanting to enter this market. This is huge fear by the establishments, they are well aware of the current mortality rates. So what do they do? They allow it. -
Short Story - skip if you just want the analysis-
I still remember one of my first silver coin purchases from a fleamarket - a 1895 Morgan Dollar - boy was I was exited and was going to start a silver coin collection. It wasn't till I got to a computer that I really jumped for joy - my silver coin was worth about 10K! OK! so much for my coin collection, I am going to party, next stop coin dealer.... Anyway you get the rest. The devastation of not having a 10k coin was not nearly as much as feeling cheated and sold coin that was not even silver! I didn't buy my next silver coin till about 5 years later..
Observations as to why I think this way:
- Persons openly listings coins as "real replicas" or just precious metal replicas without any precious metal content all over the net
- Some online auction/commerce sites have a "replica silver coin" category/section now
- Replica Silver and Gold bars stamped 999 or 9999 pure silver and gold are being sold openly
- searches for silver coins or bars(any search engine) - 2nd, 3rd page link to buying replicas
- Replicas use to be required to write "Copy" on the coins - no longer - only some official copies keep up this practice
- I will post more when my mind is fresh and when more pours out
All of the above should be as illegal as is counterfeiting fiat local currencies , but its not. These practises are being allowed as to further discourage the general populas from owning real tangible wealth/real money - Silver Gold
Photo credits this time go to: Aliexpress com
Those look like cheap China Fakes 🤔
Good eye. As per the photo credit you can tell who sells them.
These are white copper or tibet silver which are a mixture copper and zinc if I can remember correctly. Don't worry, I brought some fake coins too when I first started out and I take it as a learning experience to deepen my knowledge.
I have noticed as well and tend to stray away from morgans but this is why I love my local coin shop. They caught a guy not too long ago who came in trying to sell his fake morgans. They check all their product before making purchases especially when it comes to more commonly replicated pieces. I know what I am getting when I go in there to make a purchase and that is some beautiful Argentum :) thanks for the post. Upvoted!
Thanks! Yeah I forgot to mention one of the most important and you just reminded me. The LOCAL coin shop! Gotta keep up the local mom/pop stores!
caught a well established seller on Ebay that their Mexican silver coin was fake (edge was reeded) by message. Sorry about that, we tried the magnet test as suggested and it stuck. Good call, you know your Mexican coins.
What blew my mind was this comment that they said. "We bought it at a flea market" WTH? Like, don't these "Top-rated seller" check their coins for fakes before listing??????
Unfortunately there will always be some sellers out there with no respect for what they sell that -rather than be stuck with a fake coin attempt to pass it on to someone else -thus in turn continuing the cycle - Luckily with Eby if its not real you can return it to the seller. (yours and their time wasted offcourse)