Seems to be a new round of counterfeit silver rounds (Englehard Prospectors) circulating now:
http://www.cointalk.com/t202941/
http://www.cointalk.com/t202941/
Counterfeit Prospectors
- Thread starter pmbug
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DoChenRollingBearing
Yellow Jacket
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$$¨, as we have even had our Korean BEARINGS counterfeited (marking cheapo Chinese as Korean).
If the fake Prospectors are silver (drop then 3 inches from the floor to hear their ring), then they would not be a total loss. Unless mixed with lead, etc. But that might be detectable (at least re lead) because of the other metals´properties.
I remember in an earlier thread here at pmbug.com that video about fake NUMISMATIC gold coins coming from China.
This whole counterfeiting thing is starting to ¨chap my a$$¨, as we have even had our Korean BEARINGS counterfeited (marking cheapo Chinese as Korean).
Unobtanium
Big Eyed Bug
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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?
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?
KMS
Big Eyed Bug
I looked at these on Goldmart. Guess I don't want one after all.
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.
I own some (real) Prospectors. They are nice rounds and very liquid - probably why they were targeted for counterfeiting.