2 votes

Question about Silver..."Preppers?"

I just noticed that a few sellers on ebay have been selling bars of silver which they clearly describe as "Silver-plated" and notate that they are not pure silver.

HOWEVER, when I look at the pictures, the bars themselves will say "Pan am" or " Sunshine Minting" or whatever else and say "One Troy ounce, Pure Silver, .999" or whatever else.

Like I said, the sellers are pretty clear that they are plated but they could be used as "preppers" or as a decoy to the real silver.

TWO QUESTIONS....First, are these bars even legal?

Second, if they are sold, what is to stop the buyer from turning around and selling them as legit? If these are out there (and before ten minutes ago, I had hoped they wouldn't be) how can the average joe like myself figure out if the coin or bar I own is truly 100% (or 99.99%) silver?

Please advise. Thanks!




Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

It's not illegal to have a

It's not illegal to have a plated piece stamped .999?

A nation of sheep breeds a government of wolves.

It's not contraband and it

It's not contraband and it shouldn't be. It's up to the seller to be honest about what they are selling. Inanimate objects should not have legality applied to them, only people's actions.

Please come join my forum if you're not a trendy and agree with my points of view.

I work for a worldwide

I work for a worldwide refiner, and I can guarantee you that it is highly illegal to stamp a plated bar .999. It's part of the stamp act from the mid 70's. Hell, if a jeweler stamps something 14kt and its less than .583% they can get in a world of trouble for it.

A nation of sheep breeds a government of wolves.

No, it's not illegal. As I

No, it's not illegal. As I said before, they are made to be decoys. What is illegal is selling them as solid metal instead of plated. Second, they're not even being stamped with the purity. What you are talking about is when they test a crude ingot and stamp it with its specific purity and weight.

Please come join my forum if you're not a trendy and agree with my points of view.

If you say so. If they are

If you say so. The original poster stated it was a plated piece atamped .999, which i can guarantee you is far from legal. If they are made to be copies it would say "copy" on it somewhere, much like remakes of certain US coins.....

A nation of sheep breeds a government of wolves.

So they are contraband? No.

So they are contraband? No. Laws like that are for high-level trading, not for some eBay seller. I had several silver rounds that were copies of US coins that didn't say "copy" on them. Morgan dollars are minted privately now as .999 and don't say "copy" on them.

Please come join my forum if you're not a trendy and agree with my points of view.

That's because those Morgan

That's because those Morgan remakes are really .999. I'm not saying plated pieces are illegal to have (contraband) but I am definitely saying that whoever stamped a plated bar as .999 was absolutely, positively 100% breaking the law..

A nation of sheep breeds a government of wolves.

No, they weren't. You can

No, they weren't. You can make whatever you want. It's only illegal to misrepresent it by telling a buyer it's .999 solid metal. The copy Morgans are legal because the law does apply anymore because money isn't made of silver anymore, and those coins aren't even supposed to be circulated. I was talking about the thing you said about "copy" needing to be stamped when anything is made in likeness of a US coin.

Please come join my forum if you're not a trendy and agree with my points of view.

Dude, what do you think the

Dude, what do you think the stamp act was all about?? Do you think a jeweler can legally stamp a piece of jewelry 14 kt when it's actually only 10kt?????? I'm done arguing with you about this,, but you are dead wrong!!!!!

The Metals Stamping Act is all about one thing: keeping people honest in describing and marking items of precious metals that are intended for sale or trade. If you mark anything on the work that you produce, you need to know what the legal ramifications of making such a statement are, because by making the mark in the first place, you are making a legal statement that you can be held liable for. First, you should understand the meaning of the term “quality mark”. The FTC defines it as follows:
“As used in these guides, the term “quality mark” means any letter, figure, numeral, symbol, sign, word, or term, or any combination thereof, that has been stamped, embossed, inscribed, or otherwise placed on any industry product and which indicates or suggests that any such product is composed throughout of any precious metal or any precious metal alloy or has a surface or surfaces on which there has been plated or deposited any precious metal or precious metal alloy,”

§ 23.6 Misrepresentation as to silver content.

(a) It is unfair or deceptive to misrepresent that an industry product contains silver, or to misrepresent an industry product as having a silver content, plating, electroplating, or coating.

(b) It is unfair or deceptive to mark, describe, or otherwise represent all or part of an industry product as "silver," "solid silver," "Sterling Silver," "Sterling," or the abbreviation "Ster." unless it is at least 925/1,000ths pure silver.

(c) It is unfair or deceptive to mark, describe, or otherwise represent all or part of an industry product as "coin" or "coin silver" unless it is at least 900/1,000ths pure silver.

(d) It is unfair or deceptive to mark, describe, or otherwise represent all or part of an industry product as being plated or coated with silver unless all significant surfaces of the product or part contain a plating or coating of silver that is of substantial thickness.8

(e) The provisions of this section relating to markings and descriptions of industry products and parts thereof are subject to the applicable tolerances of the National Stamping Act or any amendment thereof.9

Note 1 to § 23.6: The National Stamping Act provides that silverplated articles shall not "be stamped, branded, engraved or imprinted with the word ‘sterling’ or the word ‘coin,’ either alone or in conjunction with other words or marks." 15 U.S.C. 297(a).

Note 2 to § 23.6: Exemptions recognized in the assay of silver industry products are listed in the appendix

http://www.ftc.gov/bcp/guides/jewel-gd.shtm

A nation of sheep breeds a government of wolves.

A jeweler can stamp a 10k

A jeweler can stamp a 10k item as 14k as long as he tells the person he's selling it to that it's only 10k. They could stamp a piece of lead as .9999 gold if they wanted to. It's all about informing the customer of what it really is. If a jeweler does any of the above dishonestly, that's illegal. It doesn't fall under the stamping act, it would just fall under plain old scamming.

It's not illegal to make a plated bar as labeled .999 as long as the seller represent what the product truly is. You claim again and again that doing so doesn't make it contraband, but your precious stamping act law says the opposite. Make up your mind. You're wrong. This law only realistically applied when people could their precious metals to the treasury to get a gold or silver certificate. Now that the government doesn't take metals to back their money, they couldn't give two shits what bullion someone is selling on eBay. I could only see them even beginning to care if it is a counterfeit product of the US Mint.

Please come join my forum if you're not a trendy and agree with my points of view.

"If you mark anything on the

"If you mark anything on the work that you produce, you need to know what the legal ramifications of making such a statement are, because by making the mark in the first place, you are making a legal statement that you can be held liable for. "

The law is the law is the law, no matter how you try to twist the wording around it doesn't change. do some reading because you're dead wrong - dead wrong.

A nation of sheep breeds a government of wolves.

Your last word is what

Your last word is what counts, not what is on the piece that is stamped. You can stamp anything however you want to as long as you disclose that it's wrong.

Please come join my forum if you're not a trendy and agree with my points of view.

Read it again

"If you mark anything on the work that you produce, you need to know what the legal ramifications of making such a statement are, because by making the mark in the first place, you are making a legal statement that you can be held liable for. "

Read it as many times as you need to.

A nation of sheep breeds a government of wolves.

What am I reading?

Your opinion? You're full of shit on this. Just go away. You can do and make whatever you want. It's a free country. You can even scam someone if you want. The victim has the right to shoot you because of that.

Please come join my forum if you're not a trendy and agree with my points of view.

You don't have to agree with

You don't have to agree with the law, but it is the law nonetheless my friend. It's ok to admit when you're wrong, it's a learning experience and you'll be a better person for it!

A nation of sheep breeds a government of wolves.

I'm not wrong. Anyone can

I'm not wrong. Anyone can put any claim they want on any product they make as long as there is something that discloses what it truly is.

Please come join my forum if you're not a trendy and agree with my points of view.

So the metals stamping act

So the metals stamping act and what it says is wrong, or do you think it's just irrelevant, or do you feel it's not legally binding?? Obviously it's a free country and its no skin off my back if you don't believe it, but I know this as fact, which is why I am being so adamant. If you can point me to something that backs your position I'd be happy to check out (not afraid to admit when I'm wrong) but you won't find it because its illegal to misrepresent precious metal content (jewelry OR bullion) with a stamp. It's common sense really. Call any refining company in the USA and ask them for yourself.

A nation of sheep breeds a government of wolves.

Just because you can buy a

Just because you can buy a stamper doesn't mean it's not illegal to misrepresent metal by stamping it higher quality than it is. I melt and assay precious metals for a living and I know the laws.

A nation of sheep breeds a government of wolves.

That's what the act talks

That's what the act talks about, stamping a piece after it's been made, like jewelers do, not minting bullion where they just feed in a blank and stamp everything in one shot. It still doesn't matter.

Please come join my forum if you're not a trendy and agree with my points of view.

I love how you speak like you

I love how you speak like you know exactly what you're talking about, it's comical!

A nation of sheep breeds a government of wolves.

Thank you.

Ditto, fool.

Please come join my forum if you're not a trendy and agree with my points of view.

The problem I see is down the road.

Someone buys these fake ones, buyer and seller both know they are fake.

But at some point, they get put somewhere and someone (maybe even unknowingly) sells the again as real and true, when they aren't.

How could some average Joe like myself, know the difference if they are labelled as .999 silver?

You can tell by the sound.

You can tell by the sound.

Please come join my forum if you're not a trendy and agree with my points of view.