Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Silver Bug

Reply
 
LinkBack Thread Tools
Old 03-21-2012, 07:06 AM   #1
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,014
Liked: 2443 times
Exclamation Counterfeit Prospectors

Seems to be a new round of counterfeit silver rounds (Englehard Prospectors) circulating now:

http://www.cointalk.com/t202941/
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is online now   Reply With Quote
Old 03-21-2012, 10:34 AM   #2
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
Zero Hedge´s ¨Rocky Racoon¨ once informed me that there are counterfeit Chinese-made Eagles circulating in Asia. IIRC, they ARE made of silver, but fakes.

If the fake Prospectors are silver (drop then 3 inches from the floor to hear their ring), then they would not be a total loss. Unless mixed with lead, etc. But that might be detectable (at least re lead) because of the other metals´properties.

I remember in an earlier thread here at pmbug.com that video about fake NUMISMATIC gold coins coming from China.

This whole counterfeiting thing is starting to ¨chap my a$$¨, as we have even had our Korean BEARINGS counterfeited (marking cheapo Chinese as Korean).
DoChenRollingBearing is offline   Reply With Quote
Old 03-21-2012, 06:44 PM   #3
Big-eyed bug
 
Unobtanium's Avatar
 
Join Date: Nov 2011
Posts: 451
Liked: 344 times
Here's my question about this. Suppose someone tried to sell some of these to a reputable online dealer. Would the dealer check? Would the dealer notice?

I would hope that the dealer would check and/or notice, but does anyone have any hard facts about what is the standard procedure for a reputable dealer when buying silver and gold bullion from an individual?
Unobtanium is offline   Reply With Quote
Old 03-22-2012, 02:38 AM   #4
KMS
Moderator
 
Join Date: Oct 2011
Location: Cheesehead Land
Posts: 374
Liked: 119 times
I looked at these on Goldmart. Guess I don't want one after all.
__________________
“The first panacea for a mismanaged nation is inflation of the currency; the second is war.
Both bring a temporary prosperity; both bring a permanent ruin.
But both are the refuge of political and economic opportunists.”
– Ernest Hemingway

If voting made any difference they wouldn't let us do it - Mark Twain
KMS is offline   Reply With Quote
Old 03-22-2012, 06:20 AM   #5
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,014
Liked: 2443 times
Originally Posted by Unobtanium View Post:
Here's my question about this. Suppose someone tried to sell some of these to a reputable online dealer. Would the dealer check? Would the dealer notice?
I would hope so! Much like the fake Maples discussed earlier, the mistakes should be obvious to an experienced dealer.

According to the conversation at the link provided above, some dealer was hoodwinked and bought them, but discovered the problem before selling to the public.

Originally Posted by KMS View Post:
I looked at these on Goldmart. Guess I don't want one after all.
I own some (real) Prospectors. They are nice rounds and very liquid - probably why they were targeted for counterfeiting.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is online now   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Counterfeit Gold, Counterfeit Silver DoChenRollingBearing PM Bug 11 01-22-2019 07:52 AM
counterfeit maples Bonzo Silver Bug 5 01-15-2012 09:55 PM
Caveat Emptor - counterfeit market booming Steven Douglas Gold Bug 0 11-14-2011 03:22 PM


All times are GMT -5. The time now is 02:33 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.