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Website offers silver-plated fakes from China

CaptHenwayCaptHenway Posts: 32,115 ✭✭✭✭✭
in Precious Metals
FYI.

rinky
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • tydyetydye Posts: 3,894 ✭✭✭
    Because of all this plating crap I bet many more legitimate coins/bars/rounds may get damaged from filing. Even now I come across nice coins and bars that were filed.
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Ahh crap !!!
    Timbuk3
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Distressing but probably not terribly dangerous. These say zinc alloy. They wouldn't weight what silver would weigh. Or if they do they probably have to be considerably larger than a silver coin.

    At least that's my guess. Be interested if anyone has seen these in person and can answer to that.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • TwinturboTwinturbo Posts: 493
    My local dealer who deals heavily in bullion was shipped a couple from a scammer.He returned them since some were correct size but underweight. Others were correct size but overweight. Others were plated/painted. And the best were the ones that were correct weight but oversized!!! Lol pathetic scammers
  • RedTigerRedTiger Posts: 5,608 ✭


    << <i>My local dealer who deals heavily in bullion was shipped a couple from a scammer.He returned them since some were correct size but underweight. Others were correct size but overweight. Others were plated/painted. And the best were the ones that were correct weight but oversized!!! Lol pathetic scammers >>



    Unfortunately, even those will likely fool folks at the local flea market and similar locations.
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  • ModernCoinModernCoin Posts: 394


    << <i>Distressing but probably not terribly dangerous. These say zinc alloy. They wouldn't weight what silver would weigh. Or if they do they probably have to be considerably larger than a silver coin.

    At least that's my guess. Be interested if anyone has seen these in person and can answer to that. >>



    The problem is crap like this is going to cast a shadow of doubt over all generic rounds and bars. There may come a day soon when dealers have to start testing every single generic round or bar they receive. That may seem crazy, but when you're operating on thin margins if some seller were to sprinkle 30 fakes in a lot of 1000 bullion rounds and bars that's going to produce a loss for the dealer that buys the group without careful inspection. Hopefully it never gets that bad, but I've seen at least a half dozen different fake 1oz bars in the last year alone.

    Interestingly enough I was at a show a few weeks ago seeking 1oz art bars and dealer there showed me what he had and asked if I had heard about the new fakes. I told him I had and started to describe some of them, but he quickly pulled out several sheets of paper that he had printed from the forums at kitco or silverseek. He was quite upset about them and stated he would have to start looking at bars more closely. Ultimately these cheap fakes are bad for guys like me who enjoy picking up neat looking rounds and bars just for their design. If I could press a button to instantly destroy all those factories in China I would be stomping on it right about now :...

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