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Thread: Too Good to be True?

  1. #21

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    First off I purchase from trusted sources. I magnetically test any new purchase. I also ping test any silver piece as large as or larger than a 1/2 dollar. Gold too. If I had locals selling, which doesn't happen often, then I'd do a specific gravity test too. I've seen fakes that until you pinged them you'd swear they were real. So don't count on your mark 1 mod 0 eyeballs.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  2. #22

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    Quote Originally Posted by shades View Post
    Have seen, held and touched fake silver coins at a friends coin store. Ping it against a real silver coin. Like hearing angels sing(silver), versus the cast fakes sound like dropping a lead fishing sinker on a metal table(clack).

    Do not be afraid, buy on person. Once you hold a fake, and do the ping test, you will know.
    the ping test is relevant when comparing struck pieces against poured pieces, but i think a lot of those fakes or "reproductions" as they are named, are also struck. probably difficult to differeciate a tungsten ping from a goldping...

    I remark that coins series ( identical type ) dmay differ because they were struck with a different die.
    Things are not so simple, the weight might also differ a bit, that is why they had the test of the Pyx. There are upper and lower weight limits.

    I do not know what is the best method to test coins probably melting them and restrike them ( joke ). There are certainly electronic means because they can test a material and get the spectrum of its contents, which means you better have a friend who has a job in such an institution... Maybe to have such a machine and install yrself as a cointester could be a new good job. ( but i guess we would soon see testers to be manned with mafia people ).

    Anyway everything is risky. The only way to keep people straight is to apply dramatic punishments. Abuse of, leniency is the the problem of our societies.

    Not so long ago one could here in the north leave his door unlocked, nowadays you better have a security lock and a woolftrap behind the door.

    Golditiki2+++.

  3. #23

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    I just submitted:
    I would like to report suspected counterfeiting of Canadian Silver Maple Leafs. A seller on the internet can be found here:

    https://ttonystar.shop/collections/c...t-Uncirculated

    Discussion of the dealer and a report from a customer who claims to have bought counterfeit coin from this dealer can be found here:

    https://gold-forum.kitco.com/showthr...ood-to-be-True

    I don't know what the proper procedure is for reporting counterfeits/fraud (I'm not Canadian), so please forward this note to the appropriate party if necessary.

    Thank you.
    here:

    https://www.mint.ca/en/contact-us
    A journey of a thousand miles must begin with a single step. -Lao Tzu

  4. #24

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    It occurred to me that introducing counterfeit silver coins into the market would erode trust in them at a time when trust in fiat is about to have it's bottom drop out. A number of implications could be extrapolated from that basic concept. Is it time to buy stock in companies that provide testing equipment? There was a time when every London shop keeper had a scale on his shelf for testing the weight of a Sovereign. We are very far from that reality today.
    “The Federal Reserve is not currently forecasting a recession.”
    Fed Chairman Ben Bernanke, January 2008
    This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.

  5. #25

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    Quote Originally Posted by SilverPalm View Post
    It occurred to me that introducing counterfeit silver coins into the market would erode trust in them at a time when trust in fiat is about to have it's bottom drop out. A number of implications could be extrapolated from that basic concept. Is it time to buy stock in companies that provide testing equipment? There was a time when every London shop keeper had a scale on his shelf for testing the weight of a Sovereign. We are very far from that reality today.
    You may be on to something there. There are so many scammers and thieves today, that perhaps in addition to the obvious forms of protection (you know what they are), testing equipment isn't such a luxury anymore; it's become almost mandatory if one is to "head 'em off at the pass".

    With the proliferation of modern counterfeiting, and the fact that they're getting very good at what they do, this has driven LCS's, We-Buy-Gold shops, and even serious stackers to invest in such testing machines, expensive as they may be. It may only take one or 2 instances for such a machine to pay for itself. I see the reality of more people needing to test their coins and bullion than ever before without having to rely on someone else's word.

    What's the number of people with any significant amount of PM's, 1% of the total population or so? (Not sure exactly of the true #) But with more and more of the general public finally adding PM's to their holdings, one could fairly project that those numbers can and will increase, thereupon also increasing the need for more and more of those machines. Seems that that would bode well for companies who produce such items, or in financial investment terms, their stock price.

  6. #26

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    i have been testing my p m's for many years. all my silver bars, silver dollars and silver eagles, my rarer 90% halfs also, all gold bars, gold coins of all realms. i use the electronic tester for that. aprox $1k invested for that tester. years back i got interested in gold sov's and bought this "SOVEREIGN COIN BALANCE SCALES ANTIQUE BRASS Full & Half Sovereign" to test and also as a novelty. (fun) and accurate measure for weight and sizing.
    i find that accurate testing is a necessity for my stacking hobby and for wealth preservation progress.

  7. #27

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    Quote Originally Posted by maxwellsilverhammer View Post
    i have been testing my p m's for many years. all my silver bars, silver dollars and silver eagles, my rarer 90% halfs also, all gold bars, gold coins of all realms. i use the electronic tester for that. aprox $1k invested for that tester. years back i got interested in gold sov's and bought this "SOVEREIGN COIN BALANCE SCALES ANTIQUE BRASS Full & Half Sovereign" to test and also as a novelty. (fun) and accurate measure for weight and sizing.
    i find that accurate testing is a necessity for my stacking hobby and for wealth preservation progress.
    You've always been one of the smart ones, maxwell. I'm actually wondering, though... if I may be so bold as to ask... Approximately how many times have you ever found a fugazi (fake)? I'm sure it's probably not a high %, but as they say, it only takes one to ruin your day. I'd also like to think that even if you never, ever found one, at least you have the peace of mind that comes with having that machine. Methinks I may have to hightail it myself and invest in one. I've only used the well-known testing methods that most of us already use, but with the increased and increasing findings of fakes out there, I realize I'm already behind the times.

  8. #28

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    Testing can get expensive quickly, but buying thousands, 10's of thousands or more of fake is even more costly. Mostly, I buy from trusted sources and pray that they aren't sticking to me. But I do test rounds in all cases using PINGTEST and BULLION TEST on my Android phone. PINGTEST has many more coins to chose from and so gets used more often. I have a fake morgan dollar I use to test the app and believe me it doesn't come close to pinging correctly.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  9. #29

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    I find it fairly easy to spot a fake, but maybe it is just me. Even the good ones don't hold up with a physical inspection. Weight, ping (flip test), magnets are all worthy devices. Most of my purchases are in person, so that is a much harder way to cheat. Plus, you don't see too many people faking pre-64 dimes or quarters.

  10. #30

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    I'm not too bad at spotting fakes myself, but I've been getting increasingly concerned about how prolific they're becoming in today's marketplace. This past Christmas, my son asked me what I wanted, and I told him the Pocket Pinger w/ Stack Stick, as I had previously done ping tests the "old fashioned way". I've gotta admit- the little bugger works great!

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