Warning on fake silver bars
CaptHenway
Posts: 32,151 ✭✭✭✭✭
Posted on my old dealer-to-dealer network by a dealer from Oregon:
"Just a heads up.
Perhaps everyone know this already but someone brought in some exceptionally well done silver bars.
All in plastic. Englehard, JM, Credit Suisse, NW Territorial Mint, Sunshine etc. BarsI have seen thousands of times.
Ones you would normally just buy. They are SLIGHTLY thicker and SLIGHTLY larger than real ones.
Weigh heavy. A drop of nitric acid will foam them green. Apparently the Chinese are flooding the market with them.
If you file one will see copper color. NWTM.com has photos of real and fake."
"Just a heads up.
Perhaps everyone know this already but someone brought in some exceptionally well done silver bars.
All in plastic. Englehard, JM, Credit Suisse, NW Territorial Mint, Sunshine etc. BarsI have seen thousands of times.
Ones you would normally just buy. They are SLIGHTLY thicker and SLIGHTLY larger than real ones.
Weigh heavy. A drop of nitric acid will foam them green. Apparently the Chinese are flooding the market with them.
If you file one will see copper color. NWTM.com has photos of real and fake."
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.
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Comments
Can you imagine using a micrometer on a 100 bar Lot and the look on the dealers face when you're doing so? This is what has come to. If the dealer doesn't like it, he doesn't get my business. Again, this is what it has come to.
<< <i>Thank you, Tom. What sizes are they weight wise? >>
Let me ask him.
fake and real heft and stack just the same
Liberty: Parent of Science & Industry
<< <i>Can you imagine using a micrometer on a 100 bar Lot and the look on the dealers face when you're doing so? >>
They are faking 1oz silver bars that are worth $22 or so if real?
Reprehensible across the spectrum.
I wonder if a bullion maker could create a silver object with equilateral sides of an easy to measure length?
Like a cube of 4 centimeters per side.
--Severian the Lame
<< <i>That sucks, but it's to be expected. Never buy anything you don't expect to be destroyed before you sell.
I wonder if a bullion maker could create a silver object with equilateral sides of an easy to measure length?
Like a cube of 4 centimeters per side. >>
Good idea Weiss.
These are ALL over the place now!!
I had someone try to sell me 220 fake 1oz Engelhard bars. Honestly I should never have even met the guy, and I know better now. The pics he sent me were blurry, and once I got a close look at them it was 100% obvious to me that they were fake. Just to be safe I weighed one and it came out LIGHT - very unusual for Engelhard.
It is common for the fakes to be in hard capsules AND sealed soft plastic. Makes it harder to weigh/test. But like a Secret Service agent once told me: knowing the real thing is the best defense against fakes, better than knowing "all" the fakes.
(Ultimately I had to have an awkward conversation with the guy and I walked away from the deal)
I would certainly purchase one, great idea. You should go on Shark Tank and pitch the idea.
Ultimately I had to have an awkward conversation with the guy and I walked away from the deal
I think it's very safe bet to say he knew they were fake
I thought the general rule is if they're in hard plastic they are 99.99999999% bogus
That's typically a good general rule and the first red light.
<< <i>I wonder if a bullion maker could create a silver object with equilateral sides of an easy to measure length?
I would certainly purchase one, great idea. You should go on Shark Tank and pitch the idea.
Ultimately I had to have an awkward conversation with the guy and I walked away from the deal
I think it's very safe bet to say he knew they were fake
I thought the general rule is if they're in hard plastic they are 99.99999999% bogus
That's typically a good general rule and the first red light. >>
What would cops do?
Well, for one thing you could end up like ol' Leroy.
this is what the cops could do
<< <i>
I wonder if a bullion maker could create a silver object with equilateral sides of an easy to measure length?
Like a cube of 4 centimeters per side. >>
Now that would really be fun to stack! How about a 100 oz. cube? Or maybe they could make a deal with Legos?
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>I think it's very safe bet to say he knew they were fake
Chicago PD would have laughed me all the way back to the suburbs. Anyway, how ya gonna hold him there until they arrive? :-)
Did he know? ......probably. If he did, he told a really good story. If he didn't, he got a really raw deal himself.
Just today a different dealer reported fake Silvertowne one ounce bars being offered in the Sacramento area. All in hard plastic cases.
<< <i>Finally heard back from the guy. THey were all one ounce bars, various brand names, all silver plated copper.
Just today a different dealer reported fake Silvertowne one ounce bars being offered in the Sacramento area. All in hard plastic cases. >>
You can thank "aliexpress.com" for all that garbage. At least when they sell their junk, it's indicated as such. Any one who buys this stuff from them, has a less than honest intention.
It reminds me that a special deal at a local pawn on random stuff is no guarantee. I guess we assume
Apmex checks it out better?