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I need some documentation help

piecesofmepiecesofme Posts: 6,669 ✭✭✭

I'm trying to explain to a fellow collector that they should stay away from 1, 5 & 10 oz bars from certain Mints that should have a serial number on them AND are still in original plastic, esp. if they are newer.
I know I seen an article someone posted on here awhile back about it that included pictures and talked about this matter.
I would greatly appreciate if someone could re-post that, or have any documentation of what I know to be fact...I just can't prove it at this point lol. Thanks

To forgive is to free a prisoner, and to discover that prisoner was you.

Comments

  • PerryHallPerryHall Posts: 46,096 ✭✭✭✭✭

    There are many modern sealed silver bars with a space for a serial number that don't have a serial number that are quite legitimate. I have bought many from several of the major bullion dealers. I'm guessing the producers skip this step unless a very large buyer requests it.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭

    PerryHall,
    There's ones that do have serial numbers and not in plastic:
    https://www.alibaba.com/product-detail/wholesale-business-gift-customized-fine-silver_60643814239.html?spm=a2700.7724838/old.2017115.1.eSU97p&s=p

    Ones that don't have serial numbers:
    https://www.alibaba.com/product-detail/Cutely-embossed-collectible-fine-German-silver_60570182910.html?spm=a2700.7724838/old.2017115.62.eSU97p&s=p

    Look at all the name brand Mints that have been targeted:
    http://www.coinworld.com/news/precious-metals/2016/02/chinese-counterfeiters-target-silver-bullion-products.all.html#

    I'll suggest to you what I am trying to convince a friend of. If it's not coming from someone like (as much as i hate to give them any credit) Apmex and it's new, still in plastic (doesn't have to be the original plastic, they can be re-wrapped) and have a space for the serial number but there isn't one (no way to track the bar as being uniquely identified), stay away.

    To forgive is to free a prisoner, and to discover that prisoner was you.
  • PerryHallPerryHall Posts: 46,096 ✭✭✭✭✭

    I've gone on the Chinese web sites to see what kinds and brands of silver bars that are being sold out of China so I would know what to look out for. It's obvious that they are selling fakes because their prices are significantly below spot. The Coin World article that you linked is a pretty good summary of what I found. What's surprising is that I didn't see any silver bars or rounds that weren't 1 ounce. I'm not saying that larger sized bars aren't being counterfeited but I couldn't find any.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • ashelandasheland Posts: 23,177 ✭✭✭✭✭

    It's amazing that website continues to function.

  • jmski52jmski52 Posts: 22,808 ✭✭✭✭✭

    Alibaba should be banned from selling in the US as long as they allow counterfeits to ship here. In China, they get executed for this, but somehow it's okay to foist this crap onto Americans.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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