Fake Bullion Bars Top New Scam

[jeff of pa]

Number 1: A continuing problem for coin dealers has been the detection of counterfeit and altered coins and precious metals ingots. Last year, the online internet auction company eBay made a splash in the numismatic press claiming that they were prohibiting the listing of counterfeit and altered merchandise, including the elimination of a category for numismatic replicas.

Well, eBay has a “Plated & Clad Bars” category. Although the eBay sellers freely admit that their products are not solid silver, the photos of the products show that they state on their surface they are made of solid .999 fine silver. These fakes use relatively well known brand names – without paying licensing fees. The appearance and the physical dimensions are so close to the real products that even coin dealers have been fooled and bought them as genuine.

Fake Bullion Bars Top New Scam

 

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[liftloop]

glad I didn't order any

 

[ret-detector]

Face to face deals only...and you can drill to check the center.

 

[TerryC]

Face to face deals only...and you can drill to check the center.

"Kelly's Heroes - Redux". No need to drill the piece to authenticate. Coin, ingot, nugget. The specific gravity test will easily and quickly reveal the fake with no damage to the specimen. TTC

 

[TreasurePirate69]

"Kelly's Heroes - Redux". No need to drill the piece to authenticate. Coin, ingot, nugget. The specific gravity test will easily and quickly reveal the fake with no damage to the specimen. TTC

But how many people have the luxury of being able to test for specific gravity when making a purchase? Heck, if the dealers can't seem to do it, what chance does the average buyer have?

 

[TerryC]

But how many people have the luxury of being able to test for specific gravity when making a purchase? Heck, if the dealers can't seem to do it, what chance does the average buyer have?

You have a point there, Pirate, but the average buyer doesn't deal in bullion bars. Anyone that does that kind of volume and gets duped, needs to go back to school and retake gold-101. TTC

 

[TreasurePirate69]

You have a point there, Pirate, but the average buyer doesn't deal in bullion bars. Anyone that does that kind of volume and gets duped, needs to go back to school and retake gold-101. TTC

Well, you are probably right.

 

[hvacker]

"Kelly's Heroes - Redux". No need to drill the piece to authenticate. Coin, ingot, nugget. The specific gravity test will easily and quickly reveal the fake with no damage to the specimen. TTC

Hey Terry, I heard that a drilled ingot can be filled with tungsten and that the specific gravity is almost the same. Is that your understanding?

 

[hvacker]

I thought I remembered that gold and tungsten were close in specific gravity. Gold is 19.2 and tungsten is 19.3. So it seems a ingot, drilled and filled with tungsten would weigh very close to the same.
I guess one could drill some sample holes but that might be a deal killer.

 

[TerryC]

Hvacker. Yes, tungsten and gold are close. Gold is 19.29. Tungsten is 19.26. Gold is 1204/cu.ft. Tungsten is 1226/cu.ft. I am not an expert by any stretch but an accurate testing method would be a must. Until you mentioned it, I was unaware they were so close. Tnx. TTC