Buyer Beware on Silver... Know what you're buying

Posted October 9th, 2008 by TraditionalGOPer

First let me say their are some great sellers on eBay and I use the service myself. However, after reading this a while back I stopped buying certain types on coins on ebay. Please read yourself before buying.

Click on the link and you will see thousands of fake silver coins... try to tell them apart from the real ones.

"Inside a Chinese Coin Counterfeiting Ring

Photos of Counterfeit Coin Dies, Minting Machinery, and Fake Coins
From Susan Headley, About.com

The photos in this gallery were taken inside a Chinese coin counterfeiting operation. This counterfeiting ring is suspected of putting thousands of fake coins onto the world and U.S. coin markets every month. These striking photos first emerged on certain Web-based coin discussion boards in Europe and the Far East. They came to my attention through a numismatic watchdog/satire blog called Biddle's Bank. These are the same coins which are being put into counterfeit PCGS and NGC coin holders, although they are most frequently sold raw (non-slabbed.)

The sheer size, scope, and professionalism of this counterfeiting ring will astonish you. Although the working conditions often appear dirty and the minting equipment is old, this is obviously a well-funded enterprise that is run like a legal business in China. There is no law in China against making these "replicas" as long as they are sold as such."

http://coins.about.com/od...

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I just did great on a 1/10

On October 9th, 2008 ODell Equip says:

I just did great on a 1/10 gold eagle with a bezel for my wife's birthday off of ebay, I paid $120 for the coin and the bezel, the seller didn't know if the bezel was real gold or not, I just went and bought the chain for it and had the jeweler look at it, he said the bezel itself was worth around 100 bucks if I took it to a pawn shop, so I feel really good about my purchase.

I agree about the danger of buying online unseen, that's why if I buy off of ebay I only buy things that are about to end that are well below the value, and the seller has a great rating.

Thank you Dr. Paul for making my act on what I already knew was right.

I don't know??

On October 9th, 2008 takeaction says:

I would of bought that 1/10th ounce here...

Canadian Maple 1/10th for $102.00 .9999 pure

http://www.bulliondirect....

Yea, I took a chance on the bezel

On October 9th, 2008 ODell Equip says:

being real gold, and it was, if not it wouldn't have been a good deal at all, as it worked out I got about 200 dollars worth of gold for 120. Your right though if the bezel had been fake I would have overpaid substantially.

Thank you Dr. Paul for making my act on what I already knew was right.

Buy Local

On October 9th, 2008 V1-P says:

Deal with locals in your area - if none in your area go to neighboring town.

Detective Krum Investigates:
http://victory1project.wo...
http://v1-p.com/

If you stick to

On October 9th, 2008 takeaction says:

American Eagles
Canadian Maples
Eanglehardt Bars
Johnson Mathey Bars

And you check the sellers feedback.....and USE PAYPAL only....you are 99.99% safe.

Is there a

On October 9th, 2008 quiltingsando says:

way to tell the difference?

Sure there is

On October 9th, 2008 TraditionalGOPer says:

but can you tell the difference when buying online? What some people suggest is to buy dimes and quarters in mixed lots. They have to be different dates and generally worn. If they are new looking or all the same date then be careful.

I'd like to add if you buy

On October 9th, 2008 JBPT says:

I'd like to add if you buy coins and buy insurance make clear to the seller you expect them to buy the insurance when shipping as well. Otherwise when delivered the coin will be dropped off in an unsecured manner, (left at front door, in a mailbox, etc.) making theft more possible.