This is a Real Issue With Precious Metals

[@830pc209]

I was at a LCS and a man came in to sell some silver jewelry, coins and bullion to the business. One of Morgan silver dollars was found to be a fake. It stuck to the magnet immediately. The man said all the stuff he brought in to sell had been his grandfather’s. I offered the man a few dollars for the counterfeit coin, which I obtained for self education and educating others on how to tell a genuine coin from a fake. Keep up the great content.

[@Practical_Stacker]

I own a fake silver bar and round. I painted them red so they easily stand out. I use them as a baseline for comparison if I'm buying something im not familiar with. I keep them in a little pouch with a coin pinger, scale, jewelry magnifying glass, and Sunshine decoder card. I bring this little testing kit with a when I go shopping for silver.

[@TheQuickSilver101]

It's more of an issue now than it was even a decade ago. I really hate dealing with counterfeits

[@schoolofstock.1483]

Sad. Bought a fake Canadian maple 1oz gold coin off eBay and never tested it and a year later I took a magnet to my coins and what do you know, a fake coin. 1700$ gone. Lesson here, be careful with who and where you get your bullion.

[@kenofken9458]

I would right off the bat assume that 90%+ of gold coins sold sight unseen online are fakes.

[@drmares1038]

I was at a flea market and looked at a "nice" pile of Morgan and Peace dollars. There were about thirty and they were all of 4 different date/mint mark combinations. I made 4 piles and most of them had similar markings within each pile. Clearly fakes. The man selling them got quite mad when he realized that I had noticed his problem.

[@ColeDedhand]

Buy from reputable dealers. No matter how good the instascam deal looks.

[@soundmoneyguy5949]

Great video! A lot of people have no idea that there are this many fakes out there. There's something to be said for the fact that you can accept a Goldback without worrying about whether it is real or not. That's probably a big part of why they are taking off so much.

[@ulexite-tv]

The number of Chinese fakes has gone up exponentially since the 2010s.

[@kenofken9458]

If those continue to take off you can bet there will be counterfeits of those as well. Someone in China is probably doing R&D on that right now.

[@mountainghoti1671]

The problem is that you're paying twice what the actual gold in them is worth.

[@kenofken9458]

And that's nuts. Try selling a Gold Eagle for $4K and see how many takers you get!

[@michaelesquivel8543]

My first silver bar I got when I was about 14 was fake , got it at a gun show . Was in a plastic container. Found out it was fake about 4 years later after sticking a magnet too it . completely lost interest in silver and gold after that . Now that I’m 30 . I find my self wanting to stack

[@craigthescott5074]

Only buy from reputable dealers to avoid getting fakes.

[@Yankee_Doodle_Stacker]

People can run their own specific gravity tests too. Combined with measurements and magnet, ping test its pretty definitive

[@MK-zy3yd]

I buy mostly everything from Apmex, JM Bullion, and SD Bullion. Ya I know…I know, paying those premiums, but what I’m getting is real. When this corrupt system collapses the premiums I paid will be of no consequence. Just my two cents, stack on my friends in this battle.

[@HunterXray]

And if you buy the deals, you can save on the premiums.

[@ronnie-z4e]

Bought a fake trade dollar once . i didn't know anything about them. What I mostly learned is to do some research BEFORE you buy something.I was lucky to get my money back.

[@Moonrock-frts]

That’s crazy bro, I just started collecting my silver and gold ( mostly silver ). Once you get your first one coin or bar, it’s like an addiction. Wanting more and more. lol at least for me…anyways you really got me thinking because If I ever buy a fake coin or bar gold or silver, i’ll be pretty bummed out and I get discouraged from buying more.

[@angelomartinez2603]

I love Sunshine Mint rounds and bars. Glad we picked some up before the premiums got too high forus.

[@lionelcortez3115]

Meet with a guy from OfferUp. He seemed genuine and was asking $100 for 3 rounds. He didn’t accept my $70 offer, until later. I meet with him and tested the weight then magnet. Both failed. He purchased them from a winter Texan form Canada. I asked him how much did you get them for? He said $5. THANK YOU SD for giving options on how to determine fakes

[@livinthedream7714]

What's with the hands?

[@GardenerEarthGuy]

I love buying the paper contracts, and with a button click a profit can be taken- even when coin shops aren't buying. I can also click and buy when coin shops aren't selling... No sweat about premiums, and I can roll profits into physical metal. Many are misguided regarding paper contracts... The best fakes were the $2 Canadian Polar Bear coins, aka Camel Toes- those were on Temu for .05 each. Some French Canadian got busted bringing like 50,000 into the country! Where you buy is crucial- but you're missing out on the real game many call The Elite Manipulation, is paper delivery contracts which is where the real money is at. Only paper people made real money when the pandemic made silver $7 that dealers weren't selling, but our paper contracts were readily turned to cash! Happy New Year!

[@kevinsmith6433]

I'm the same I hold silver coins with high face value not just for silver value I trade slv etf when silver crashes and take profits when high and best of all can't go bust and if the the apocalypse happens your best to stack can's of food to trade with not gold or silver

[@GardenerEarthGuy]

@@kevinsmith6433 It's the way to make things happen! 😆 Everyone crying about manipulation because they can't buy at the bottom or sell at the top... 😆 Actually, they can! Best New Year to you!

[@jameslester865]

Great video, I do see how someone new thats not used to seeing these different coins, rounds or bars could be fooled. But having seen these for so long now its pretty easy to see the fakes. That maple at the start of the video seemed very obvious, like a spider sense lol.

[@FrarmerFrank]

The coins are pretty I wouldnt put it pass the Goverment to circulate cladeded Maples as currency The Shaawwchwa Dollar was a "gold" claded coin that people collected instead of using thus its discontinument Last time I rember seeing a Half Solar Coin and Silver Dollar was as Payout playing Blackjack in Vegas...as those were collected,especially bicentennial ones

[@calilivin230]

Ebay is safe if you buy from the well established sellers with good ratings/reviews. I only use two seller that have atleast 1,500+ sales and a rating of 99.8 or higher. Lately I have noticed an increase in sellers from China... easy to tell because it clearly says international shipping and the prices are ridiculously lower. Just use common sense and also do a little homework on them before buying from anyone whether online or local shops.

[@FelixTheCat69]

Hey SD, I just re-subscribed and wanted to ask you to do a video on using the Sigma, preferably the standard one, to test 90% silver. I heard that even clad coins (not sure if the year matters) will fool the device. This applies to Morgans, Peace, and half dollars. Actually, I'm not sure about halves. Also, I have looked for an app for iPhone to do ping tests and there used to be a lot of them and I recently could only find one and it was more of the kind that you take a picture of to identify the value of coins. This would be valuable to get specs on a coin like dimensions and weight though. I'm not sure about that argument for Maple Leafs. If we got to that point, I would hope we weren't in the endgame havinig to spend our stack like regular money, which also would be worthless btw. What is very cool about monster boxes of maples is the size. They are like 65% of the size of a box of eagles.

[@adamstorer5717]

As far as Sunshine Minting, I love their Mint Mark SI feature; it opens up competitive pricing from other reputable sources. I have a few of their 10g gold bars and cut one out of the assay for testing. Mint Mark SI showed "VALID" through the assay, but I wanted to be sure. Used a Sigma Analytics PMV tester and bingo! Pure gold. 😎👍 Definitely a Sunshine Mint fan.

[@gregwilusz5696]

Buy at a reputable coin store only!!!

[@RanDom-Interloper]

Used to buy from First Majestic before finding what I hope is a reputable local coin shop, probably one of the largest in my state. FM was good but the shipping and premiums became too expensive.

[@tjmmcd1]

I wonder why the U.S. Mints, in addition to those few major bullion companies authorized to purchase directly from the mints, haven't put out regular 'warning notices' advising the public to beware of Chinese companies selling FAKE coins and rounds. In addition, Ebay, Amazon and other major sites should also make customers aware that these extremely cheap coins, rounds and bars are most likely FAKE.

[@ulexite-tv]

Because China is "our great ally." What i can't undertsand is why Apmex, Pamp Suisse, and the Australian government are not seding DMCA take down notices or cease and desist letters to eBay and Etsy.

[@dronetestdaegan]

It's up to the individual customer to do the research about genuine products. THey need to learn all about them, and the sellers. It's not up to the website to do that for the customer.

[@907Opa]

Merry Christmas!

[@GregoryLong-zk3ry]

I tend to buy high and sell low...what's wrong with me?

[@InsipidRoustabout]

Good for a decoy stash?

[@Marvin-z8j]

That's not the only problem. Facebook has a lot of user groups that have people in those groups that try to scam buyers.

[@ulexite-tv]

Good point. I see more scammmers on sBay and Etsy, but i tend to avoid Facebook groups simply for lack of free time.

[@Lyokou]

I'll admit I've looked into the fakes. Been tempted to buy them, but they don't appear real enough. But my goal is to have a fake stash to appease a would be thief.

[@toekneekerching9543]

sadly even coin dealers arnt trustworthy anymore, i bought a numismatic coin a few years back, An 1887 Chilean peso, it was sold to me encapsulated and i didnt really question it until later when the capsule developed a crack, so i took it out and bought a new one and realised it didnt fit the new properly sized capsule, the coin was actually over sized and too thick, on contacting the dealer he refused to even talk about it and told me if i wanted a refund i would have to send it to be authenticated and declared fake which would cost a similar amount as the coin its self and therefore pointless. The dealer either hadnt checked the coin or he purposely put in the capsule to hide the fact it was fake.

[@1011Shke]

I guess I keep my fingers crossed ! I have not bought from anywhere other than big name bullion houses or licensed dealers, with a couple exceptions early in my collecting. Never eBay. The places I bought from can be found on line, but are not premier, just hustling metal dealers. I think I've been lucky. I weigh, measure, Ping test etc and have not found a fake yet. 🤞🤞 I can't afford a metal tester/verifier. Good luck all. No fakes for us. 😁

[@DrSchor]

help the new guys; is keeping your finger crossed an effective plan. thanks

[@ChatsWithChris]

I sold all my loot a few weeks back. Crunched some numbers I made 8% on my initial investment. I’m done with the hobby after getting burned pretty bad from an online sale I did. I don’t think it’s worth it for me any more. I’m just happy to have broken even.

[@joshuaspitler3780]

I bought a trade dollar from a flea market that was fake. I wasn't very aware of fakes at that time. I took a chance and lost $35. I thought this dealer didn't know what he had.

[@michaellevesque3825]

why can't somebody stop them from selling fake silver and gold

[@goldmaple5290]

There are several problems with precious metal coins, Siver Dragons, not just one : 1. There are a lot of fakes and counterfeiters are getting more sophisticated producing fakes. 2. Gold is just so expensive 3. Silver is performing abysmally 4. You have to pay capital gains taxes when you sell gold and silver

[@SergiuM42]

Yes. You have to pay it.

[@EagleStacker1]

I test every piece of metal I buy including constitutional silver with my Sigma. The only exception are sealed tubes I buy from big dealers. BUT, if the seal is broken or appears to be broken I test them. I trust but verify!!

[@kenofken9458]

People say they can't afford those machines, but if it saves you from ONE bum gold round, it's paid for itself.

[@hagbard72]

The Sigma will show copper as sliver, you have to also take weight in size (there is apparently an app for that with the machine. My local coin shop used the base Sigma machine to test two gold ozers, tested fine but he charged me $5 to do it.

[@MrFatalMayhem]

I work in retail and I had a guy try to pay with fake Morgans I took one look at them and immediately knew. The guy said he was down on his luck and that was all he had. I took the opportunity to educate him just in case he actually didnt know they were fake. He even had some that we “slabbed” and said he had bought them for $30 a piece online.

[@kenofken9458]

He wasn't as down on his luck as you would have been had you bought them.

[@MrFatalMayhem]

@@kenofken9458 I should probably add he was trying to use them at face value

[@Vector_Ze]

95% of my stack was obtained more than twenty years ago. That alone makes me confident. And, 100% of it was obtained from trusted sources. But, this crap concerns me when it comes to new aquisitions.

[@awakenotwoke4830]

Ebay has a money back guarantee. I've gotten some really nice deals on the auctions. I bought 2 ase just for fun, I knew they were fake by the price. I purposely asked the seller if they were genuine, the weren't, they were pretty good but didn't look or ping right. I was refunded. I have most coins I'm not familiar with verified by by LCS just to be safe. Good sellers on Ebay usually have better prices than your sponsor's credit card prices.

[@FosterFarmsOk]

SD is consistently higher on everything. Guess paying for all the sponsorships is pricey. Plus a couple reputable dealers have eBay shops and offer free shipping on any amount.

[@ulexite-tv]

Having to go through the trouble of getting a refund is a lot of work.

[@ksteege120]

Did you have to mail them back?

[@RioSul50]

Purchase your items from reputable firms and get a slide tester as well as a ring sound test for silver.

[@novelcoronaheads]

The big issue is high level greed.The price of everything is being manipulated...All we need now is a black swan event that would send the prices of everything not just metals higher and its all corporate greed at the center of it...

[@musketmerve1436]

@Silver Dragons - are any of the fakes you are showing us, legitimate scams you personally fell for? I’d like to hear stories of how experienced buyers get scammed.

[@davidholubetz177]

I almost bought a Pamp Suisse 1oz bar on Craigslist - but I went online and found a website that pointed out the difference between fake and real and pulled the plug before I handed over any money. Close call. Not sure if the seller knew it was fake and was trying to scam me or if he was holding a fake without knowing it.

[@musketmerve1436]

@@davidholubetz177 thx for sharing this

[@Yankee_Doodle_Stacker]

wow that Maple is a terrible fake. The radial lines are nowhere near tight enough or fine enough

[@jeffstark8449]

Damn I didn't realize the mercury dime can be faked.

[@FrarmerFrank]

Have you seen the U.S. coins?(nickel claded Zinc)😹 I asked cause a lot of Gen Z and Sooners dont see coins let alone paper money in this gift card,Paypal,Cash App,Credit Card,Checking Card Society 😹

[@Pre-1933GoldCoins]

This is so annoying is the government doing anything about it ?

[@davesmith1250]

I know there’s an app for android to do the ping test. Does anyone know if there’s a good app to do so with iOS?

[@BillGuyHawaii]

In 2022 I purchased 5 fake ASEs 3 from a large "reputable " seller on ebay returned for refund kept 2 for educational purposes. Missing Reed in the wrong position and the did not weight up.

[@Arturro-pk2eu]

I received a fake 10 oz RCM bar even with a serial number.

[@ulexite-tv]

Oh, that sucks.

[@jeffstark8449]

Thanks for all the valuable information you always put out 8n your videos

[@mattlebeau7978]

I bought some 90 percent in a private sale with one Morgan mixed in. Everything was legit except the Morgan. It felt odd in my hand, weighed a bit off, Non-metalic but failed two different ping tests. The seller refunded me so I wasnt out 35 bucks.

[@GhostDiZ]

I found a fake gold numismatic piece... well others say it's fake but I have no way to compare or test... perhaps I should send it to you

[@bamamccall6545]

Well I might as well sell it all. Even if it's good nobody will be able to test it if SHTF. They got us at every corner.

[@glenns.2676]

Who is buying a fake common date mercury dime for $2.69, when you can get a real one for $2?

[@ulexite-tv]

I know ... that was weird.

[@thesarge4457]

I test always, even from a good dealer and LCS, I sleep better at night. THE SARGE

[@TheMostSlyFox]

the biggest issue is the price isn't going lower so I can buy more

[@dronetestdaegan]

Save money by cutting out all streaming. Drink only water. Make all food at home. This saves you a lot you can spend on metals.

[@RobertLee-wi5kc]

Thank goodness the counterfeiters don't want to spent 5.00 or they could make very good fakes.

[@joelmattila4084]

Soon they won't be able to manipulate the price .look at gold looks like a new floor has been set . Next floor 2200.00 then 2400.00 ceiling who knows might even hit 5000.00 silver who knows maybe 100.00 . Time fram 3-5 years ?

[@yendorofny]

I bought a Sigma Pro, as well as a pocket pinger, accurate scales. If you buy anything from me, it's real. I've actually bought a fake Kangaroo off Ebay and when confronted, my money was refunded immediately.

[@TobaccoRowe1960]

I buy on eBay. I test my PMs with a cell phone. If I get ripped off they get reported to eBay. So tell me how many times has eBay ripped you off ?

[@gregwilusz5696]

Due the tap / ping test on a silver coin it works

[@allenschmitz9644]

Even if it's real it will be Fake when you go to sell seems to be the trend.

[@noroomforgloom]

Seems that silver being $24 and some change spot and a $3 premium there’s not much to celebrate for those holding but great for the buyers. I paid $35/oz way back in 2011. The stuff went to$50/oz in May of that year. They say silver is quite volatile and I would have to agree. Manipulation is the elites privilege ours is to buy low, wait and try to sell high. That’s if you live long enough. LOL Or you could just leave it for someone else. I’d rather have it then not. It does help one sleep having the insurance. Good luck to my fellow man.

[@MENSA.lady2]

I only buy the UK KC3 Britannias Simply because as far as I know there are no fakes, YET.

[@thomaswhisnant495]

Yes sir they got me for eight American eagles. straight Out of China. I did not realize I was buying from China until after the purchase was made.. Now I only buy my American eagles from liberty coin.

[@randombro177]

Thanks for the public service.

[@pan60]

in regards to currency why doesn't our gov. shut it down? if you was passing 100.00 dollar bill you would be in prison.

[@Goldbacker00]

Goldbacks don't have fakes!!

[@johnmills2274]

Just buy from the bigger dealers Less worry

[@timelapse4989]

$2.69 for a fake silver dime. lol. A genuine silver dime is around $2.

[@leechjim8023]

To hell with buying online!!!😮😵😵

[@georgiafan9889]

I think the algorithm is working against you Silver Dragons. This video wouldn't show up no matter how many times I refreshed the main page. Only saw it on the side bar from other videos.

[@DrSchlongOBGYN]

If you're buying goldback you are a chump.

[@ronaldfauver1469]

I just want to throw up when I see this,I think it hurts lcs more than anything. I say that because you know if you buy it from an online dealer and there are several that are reputable they are real.

[@ourkorn64]

i watch you allot , but why would you show where these can be purchase? not all of your followers have good intentions

[@trustme2001]

Makes me think how much of my stack might be counterfeit. Especially the pieces that I have bought off of eBay. Even though I have bought off of trusted eBay bullion sellers. Makes me want to test my stuff

[@ulexite-tv]

You said it: Don't buy coins from eBay. Well, maybe wheat cents ... :-)

[@302Rmack]

SD bullion sells scratched and damaged metals

[@MarcHasaraMarcHasara]

"Caveat Emptor" should be your watchwords and not a sweeping slam delivered to and about legitimate eBay sellers like myself.

[@cindy5800]

Rule of thumb ...always buy from a reputable bouillon dealer. Not EBAY

[@syberphish]

Not SDBull, unless you want to pay some of the highest prices on the internet. Being reputable isn't the end-all-be-all. Plenty of reputable dealers have terrible prices. Apmx and SDB are at the top of that pile.

[@cindy5800]

@@syberphish I buy from bouillon dealers only and do shop around for best price. My point was expect to get burned if you get a deal on eBay .. it's probably fake . And yes last year I bought from Apmex however they changed hands in Sept and their premiums are no less than 28% .... My last transactions were SD, Hero, and a few items directly fir my collector side from Scottsdale ( I paid through the nose on that purchase but love the lion head stackers and only allow myself 3 a year...so wait for market dips for those)

[@kayeninetwo3585]

But what if APMEX or Scottsdale mint sells on ebay???

[@syberphish]

@@kayeninetwo3585 I just don't go near ebay with a 10ft pole when it comes to PM's. They may sell on ebay, but you can absolutely get their products by other means as well.

[@cindy5800]

@@kayeninetwo3585 I won't buy metals off eBay even if they had a site. Too many people have been burned, for me to risk it.

[@rainunderscore]

this feels like fear mongering to push people towards your sponsor

[@thomaswhisnant495]

No sir he’s not telling any lies. Order some American eagles through China and see what you get. I own eight of the best fake eagles you could possibly buy. I have nothing to do with this channel and I don’t buy from where he buys from or who is sponsoring him. I buy through liberty coin. He’s never mentioned them. Take the advice or not , No skin off my back. You must be new to coin collecting if you haven’t run across any confederate fakes. knowledge is power but I guess some people have to learn the hard way like I did. Good luck.

[@coincollectingfun]

Big like number 804! Fabulously done!

[@JohnHuntt]

Yes, from sursell. Silver eagles

[@T.W.goodguy]

Seasons Greeting 🎄⛄✨⛄🎄. Thanks for the heads up video,🫡

[@appleztooranges]

These even pass “sigma test”. 😂

[@sc-uk5xg]

The same reason diamonds are preferred over tanzanite (more rare than diamonds). They told you they are precious and you believed them. Money is fake, the price of gold and silver is fake. What is precious is love and understanding. When we start to value that more than gold or money...we will truly be human! God Bless.

[@vinceknight4078]

yes my daughter inlaw got a fake eagle at the banks last week so its real

[@axelpremiss4322]

It’s really unfortunate that Nixon went to China in the first place…

[@jasonsummit1885]

I always buy my silver from JM bullion.

[@HackerStackerAG]

Sigmas can be fooled as well.

[@HackerStackerAG]

@@G-Bob4 Very well-crafted fakes.

[@DuncanL7979]

Maybe with vermeil

[@stormforge68]

And this is why when testing PM, you use several different testing methods to verify and confirm authenticity. Never rely solely on a single testing method.

[@PamalaClift]

Goldbacks!

[@syberphish]

"I've never seen a Goldback be faked before" Why would anyone bother faking what is essentially shiny Monopoly money?

[@mr.monitor.]

Somebody doesn't understand money 😅

[@akajamesey]

@mr.monitor. got you there, small brain monkey

[@soundmoneyguy5949]

Goldbacks are the most successful sound money project in modern times. They actually contain gold and they've more than doubled in value since coming out in 2019. Currently there are over a thousand business owners on the Goldback website that advertise themselves as preferring to take Goldbacks in payment. In some States, Goldbacks are six to eight times as popular as cryptocurrency, including bitcoin.

[@syberphish]

@@mr.monitor. that somebody would be you. I've asked all over locally if anyone would accept them and have talked to local stickers who aren't impressed with them. So it doesn't matter what *I* think, it matters whats fungible when I need it to be. People will trade for my precious metals but not my gb's. That makes them collectors items, not money. Money has inherent value that you dont have to teach someone about. If only 1 in 100000 people know what it is, it isn't money... you've sold yourself that lie to justify your expenditures, not because it's truth.

[@mr.monitor.]

@@syberphish you are right it doesn't matter what you think, lol. It matters what the exchange rate is, and that is what the actual transactions on the street are trading for.

[@commanderbell1965]

Hello

[@tjmmcd1]

Goodbye

[@natemr4482]

Second 🥈

[@jamesonealbrown7227]

🌎🗿™️

[@timgibson3754]

"These gains add to what’s already been a strong year for the stock market. With just three sessions left in 2023′s trading year, the Dow and S&P 500 are poised to end 2023 higher by 13% and 24%, respectively. The Nasdaq Composite has jumped 44%,"

[@Olddog1776]

It’s ET CETERA …. NOT …..Egg cedra

[@go4it129]

I only buy precious metals from reputable online dealers. SD Bullion, SGB, Bold. Hero Bullion and JM Bullion

[@markkatz6170]

I use Scottsdale mint, SD BULLION and JM BULLION ONLY.