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piecesofmepiecesofme Posts: 6,669 ✭✭✭
in Precious Metals
Damn Chinese gotta ruin everything.

Measuring it seems to be the quickest way to spot a counterfeit bar

But when you're talking about old pours, that would be kind of hard to apply across the board.
To forgive is to free a prisoner, and to discover that prisoner was you.

Comments

  • AUandAGAUandAG Posts: 24,762 ✭✭✭✭✭
    Rather than drill a bar and reducing it's weight what is the preferred way?



    bobimage
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Originally posted by: AUandAG

    Rather than drill a bar and reducing it's weight what is the preferred way?



    bobimage




    The article says the best way at this point is to have a bar that you know is good from a specific maker and use it to measure and compare the thickness. Seems they (the Chinese)make the counterfeits with the same length and width but have to adjust the thickness to get the weight right.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • sebrownsebrown Posts: 424 ✭
    Originally posted by: AUandAG
    Rather than drill a bar and reducing it's weight what is the preferred way?

    bobimage


    Precious Metal Verifier is the preferred method, but the device is pricey! This would appear to be an essential tool for those in a coin and/or precious metals business given the enormous amount of counterfeits in the market today.




    "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    I'd go with the full kit.

    If it is reliable it is a must have item for all shops that buy gold and silver.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Originally posted by: derryb

    I'd go with the full kit.



    If it is reliable it is a must have item for all shops that buy gold and silver.




    And it would be helpful to them as a seller too, to show the customer that they are getting the real stuff. I know 2 LCS that have recently gotten them and they say they're business has increased on the metal side of sales because of it.



    But the down side of that is machines can be manipulated to show what you want. The other thing is if you're buying 100+ pieces, you gonna do this to each and every one of them? I guess this should be done to ensure doing repeat business. image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    A shop that has this rig could offer to check items for walk-in outsiders at $5 a pop. Says it only takes one second to check the item.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    MUCH CHEAPER if you buy directly from manufacturer


    How to use video

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    This:
    image
    But they are a grand last I heard. It's worth it if you do volume.

    My YouTube Channel

  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    They seem to be pretty reliable, plus your gut will tell you a lot if you've done this for a while.
    Between the two and a scale, you're pretty much covered. image

    My YouTube Channel

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Great piece of equipment..any volume dealer would be crazy not to have one. Cheers, RickO
  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    ricko, very true!
    I'd buy one myself if they weren't so expensive, but having access to the one pictured at work, I'll just use it! image

    My YouTube Channel

  • RyansRustRyansRust Posts: 179 ✭✭✭
    Hit the swap meet this weekend with my 13 year old son, as we do as often as we can. Saw a new vendor that sold gold and silver jewelry. Headed over to see if by chance he has coins. He did! Price was Morgans $25, 1994 ASE $28 and a lot of older coins from Mexico. I asked to see the 1842 CC seated Liberty. Not knowing much about coins I was hesitant. Looked like aluminum. Seller said he didn't know much about it so it was $5. He had a couple. Luckily I had the internet with me and I quickly learned that coin was impossible to be real. Morgans...looked too thick as well. Decided to pass on all since I then doubted his integrity.
  • USASoccerUSASoccer Posts: 445 ✭✭✭
    They are on the bay for under $700...
  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    Originally posted by: USASoccer
    They are on the bay for under $700...


    That's heading in the right direction! image

    My YouTube Channel

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Originally posted by: asheland

    Originally posted by: USASoccer

    They are on the bay for under $700...




    That's heading in the right direction! image




    Think of it this way. If you purchased about 40 oz's or so of silver right now that was counterfeit, it would have paid for itself. I buy 40 oz's of silver in the blink of an eye regularly and I'm a small timer.

    $700 is well worth it for any level of collector if you intend to collect the rest of your life. It pays off at 40 oz's of silver.

    Do you have a friend that collects? Ask them if they want to go in with you on it, now you're down to $350.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    piecesofme, I totally agree!
    I have access to one at work every day. (B&M) so I'm being cheap at the moment! image
    Actually, I have a friend with one also, so I can easily access one almost any time...
    Otherwise I probably would have one by now.

    My YouTube Channel

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Originally posted by: asheland
    piecesofme, I totally agree!
    I have access to one at work every day. (B&M) so I'm being cheap at the moment! image
    Actually, I have a friend with one also, so I can easily access one almost any time...
    Otherwise I probably would have one by now.

    Sigma's website shows how well it detects the PMs, but no demo on a counterfeit. Try it on a plated bar and let us know how works out. I'd like to get one but am waiting on reports on how it fairs with the counterfeits.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    Anything plated and it shows no bar (on the display) whatsoever.
    Some things trick it like nickel shows good for gold (something to that effect)
    However, the density and heft will confirm the rest. It's not 100% perfect, but with other tests and experience it's a great device!
    I'd already have one if it wasn't for the fact I have access to one right here at work.

    Get one. I'm sure you'll be satisfied...

    My YouTube Channel

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    youtube video with inventor showing how to use

    He shows the results with a few counterfeits as well.

    Good, independent review of the PMV

    Looks like the best price out there for the full rig (include necessary bullion bar probe) is around $800.
    One could always wait for the cheaper chinese model. image

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • ashelandasheland Posts: 23,190 ✭✭✭✭✭
    That seems right price wise.
    I like the thing...

    My YouTube Channel

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    One could always wait for the cheaper chinese model. image


    It's only a matter of time.

    To forgive is to free a prisoner, and to discover that prisoner was you.
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    Sigma PMV for $799 at Bullion Exchanges

    Includes the option bullion wand for use with bars.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • SONOMOSCASONOMOSCA Posts: 419 ✭✭✭
    Originally posted by: derryb
    Sigma PMV for $799 at Bullion Exchanges

    Includes the option bullion wand for use with bars.



    Bullion Exchange is also selling them on Ebay and qualifies for E-bucks. My previous searches
    didn't find B.E. selling them, maybe I didn't look hard enough. They show having 3 in stock, hope they still have them when the next bonus bucks deal happens.
    BST transactions - Wondercoin, SNMAN , Mb423, Timbuk3
  • cmanbbcmanbb Posts: 1,059 ✭✭✭✭✭
    Originally posted by: derryb
    I'd go with the full kit.

    If it is reliable it is a must have item for all shops that buy gold and silver.



    There's one on eBay (full kit) for much better price (item#311379748609) $799 free shipping
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