Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Fake Silver and Gold Flood Global Markets; 100,000 Coins From A Single Counterfeiter!
SHTF Plan ^ | Mac Slavo

Posted on 11/10/2011 6:54:23 PM PST by blam

Fake Silver and Gold Flood Global Markets; 100,000 Coins From A Single Counterfeiter!

Mac Slavo
November 10th, 2011
SHTFplan.com

Whether it’s pirated software, poison-infused baby formula, cancer-causing drywall, luxury purses, or fake medicines, if you need a knock-off, China has traditionally been the go-to country, with a counterfeiter always willing to oblige.

Now, with precious metals prices on the cusp of possibly the biggest price explosion in centuries, fake gold and silver products are becoming a booming industry say Global Piracy & Counterfeiting Consultants:

We have read about one Chinese counterfeiter openly bragging about producing 100,000 fake U.S. Silver Dollars per year, and that’s just one counterfeiter. At this point, we are telling all investors of gold, or silver coins, and or any type of precious metal bar to only buy from a reputable U.S. dealer, that has an established track record, and a money back guarantee.
We fear this Chinese counterfeit gold, or silver coins, or bars, could be a multi billion dollar a year business, and we greatly fear many innocent investors could be taken to the cleaners.

Based on our research some of the Chinese counterfeit coins, are of such high quality, it is not uncommon for even experts to be deceived. We think its smart for every investor to have gold, or silver, our big worry is pretty simple, what if they invest 10%, or 20% of their net worth in what are counterfeit precious metal coins, that are basically worthless?
We would call this a disaster for the investor, and out big fear is there are probably tens of thousands of investors in the United States, who have been duped. Even worse, once again for all intents, and purposes the U.S. Federal Government is a no show-once again.”

“The world needs to come to grips with the largest counterfeiter in the world, the fact that 10% of China’s GDP is a direct result of counterfeiting. If it’s not knock off pharmaceuticals, that can kill people, it’s high tech smart phones, or electronics. Our new worry is pretty obvious related to Chinese counterfeiters bankrupting innocent precious metal, or coin investors, with what could be their life savings.
At what point do consumers in the United States, Europe, Japan, or the rest of the world say no thanks to any more Chinese products, given its uncaring attitude about flooding the global markets with counterfeits, or fakes?”

Source: GPCC via prweb

(Go to the site to view the video)

Gold and silver remain one of the few alternative investment methods to preserve wealth during crisis scenarios like inflation or government instability, but taking extra precautions now is absolutely essential to ensuring your wealth is protected when it comes time to sell.

Don’t assume that the dealer you are working with is legitimate, and even if they are, it is possible that they themselves have been duped by a counterfeit.

Those of our readers investing in gold and silver assets, especially if you are committing a large percentage of your net worth, should consider some safeguards.

Work with multiple dealers who have been in business for several years. Like any investment strategy, diversifying your eggs into multiple baskets will protect you if one of them happens to fall. In this case, buying different products from multiple dealers, all with solid reputations, will prevent you from losing your entire investment in the event one of the dealers was duped by counterfeiters. While not exactly ideal, it’s better to lose just a portion of your investment than all of it. Trust but verify.

Buy from one dealer and get your investment appraised by another. If you’ve invested $5000.00 into precious metals, paying an additional $100 to have another dealer (most will take a look for free) verify the quality of the assets you purchased is not a bad idea. If you were sold a fake, you can then take immediate action against the offending dealer (as opposed to waiting five years only to find out you’re holding a worthless metal). Understand dimensions and weight.

One of the best ways to determine if your asset is legitimate is to know what dimensions it should have (circumference, thickness, weight). Every government issued coin, and even privately issued rounds or bars, should have manufacturer dimensions available either online or by simply giving them a call (otherwise go with a different product). Get a digital scale and a caliper and take measurements.
Even though fakes can come close to the real thing, the density of gold and silver are unique, so if a particular bar or coin shows an inaccurate weight or dimension, you’re likely looking at a fake. It may cost you a couple hundred dollars to acquire the appropriate tools, but if you’re investing multiple thousands of dollars into these investment then we’d consider the cost of doing business.
Take the time to learn about your investments (it won’t take long) and you can save headache and heartache down the road.

Gold and Silver Acid Tests.

Gold and silver have unique properties when mixed with certain chemicals. While not exactly ideal, because you’ll have to ‘damage’ a tiny portion of a particular bar or coin, an acid test can be one of the best tests to perform in order to ensure you have a legitimate precious metals product. You don’t necessarily have to go through and test every single one of your one ounce silver eagles, but testing a few coins out of each batch wouldn’t hurt.

Try pre-1965 silver products. They call it junk silver. Chris Duane of Don’t Tread On Me refers to it as Constitutional Silver. Half dollars, quarters and dimes minted prior to 1965 contain 90% silver and are worth well more than their face value.
While Chinese counterfeiters may be producing silver eagles, bars and other mints in mass quantities, they will likely shy away from US coin products for a couple of reasons: 1) why mint a fake quarter when you can mint a fake silver eagles worth significantly more? 2) minting fake US coins is a Federal crime, and while the Chinese may not be worried to much about being investigated by Secret Service, pressure from the US may force China to act against counterfeiting, something the Chinese knock-off artists would like to avoid. Pre-1965 silver coins, in our opinion, are the only option for those making purchases on auction sites.

Counterfeits will always be a concern when you’re dealing with assets worth as much as $2000 an ounce, but you can take steps to protect yourself. Don’t let the fact that counterfeits are out there dissuade you from making a good investment decision. Just do your due diligence and don’t let emotion overcome logic.


TOPICS: News/Current Events
KEYWORDS: coins; counterfeit; gold; silver
It's Always Something. (IAS)
1 posted on 11/10/2011 6:54:27 PM PST by blam
[ Post Reply | Private Reply | View Replies]

To: blam

I was wondering how long it would take China to fake rare metals. They copy EVERYTHING else. If you buy rare metals, buy ONLY from known dealers and companies in the business.
If you buy bullion, buy only CERTIFIED bullion (eg bulk bars etc).

Coins are where you could have problems -— again, buy only from established, known dealers. This is going to get real bad.


2 posted on 11/10/2011 6:58:14 PM PST by EagleUSA
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam
and while the Chinese may not be worried to much about being investigated by Secret Service, pressure from the US may force China to act against counterfeiting, something the Chinese knock-off artists would like to avoid.

Once you do catch China's official attention, it sucks to be their poster child faker of the week. Quite often they end up getting shot or hanged.

3 posted on 11/10/2011 6:59:21 PM PST by HiTech RedNeck (ya don't tug on Superman's cape/ya don't spit into the wind--and ya don't speak well of Mitt to Jim!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Are graded, encapsulated coins being faked?


4 posted on 11/10/2011 7:03:19 PM PST by grumpygresh (Democrats delenda est)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

From now on I only plan to buy physical tungsten. If I bought gold, it might be gold, or every once in a while it might betungsten. If I buy tungsten, worse case I’d get the tungsten, but every once in a while it might be gold.


5 posted on 11/10/2011 7:03:39 PM PST by Vince Ferrer
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

And then there are the crooked precious metal assayers who tell sellers that their real gold is fake. They get you coming and going.


6 posted on 11/10/2011 7:04:41 PM PST by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their VICTORY!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: grumpygresh

“Are graded, encapsulated coins being faked?”

I’ve read of a couple incidents of those being found to be fake.


7 posted on 11/10/2011 7:08:09 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: grumpygresh

“...graded encapsulated coins...”
-
I have heard of a few cases of this, no references, only my recollection.
Some graded encapsulated coins have proven to be a very good investment.
In a real SHTF plan, “collector’s value” will be meaningless.
I only buy old junk silver coins...for their intrinsic metallic value,
not for any collector’s value.


8 posted on 11/10/2011 7:09:30 PM PST by Repeal The 17th
[ Post Reply | Private Reply | To 4 | View Replies]

To: blam
This is why I buy junk silver, has next to no numismatic value and each coin isn't worth enough to fake.

Another quick test would be to weigh the coin.

9 posted on 11/10/2011 7:13:09 PM PST by LukeL (Barack Obama: Jimmy Carter 2 Electric Boogaloo)
[ Post Reply | Private Reply | To 1 | View Replies]

To: grumpygresh

I know PCGS had a problem a while back with a bunch of fake slabbed coins.


10 posted on 11/10/2011 7:14:47 PM PST by LukeL (Barack Obama: Jimmy Carter 2 Electric Boogaloo)
[ Post Reply | Private Reply | To 4 | View Replies]

To: blam

The world will enter a massive crisis when my team and I perfect our molecular fabricator to create 1000 ounces per minute of pure gold.


11 posted on 11/10/2011 7:18:13 PM PST by montag813
[ Post Reply | Private Reply | To 1 | View Replies]

To: grumpygresh

They Absolutely are my friend.


12 posted on 11/10/2011 7:18:29 PM PST by nkycincinnatikid
[ Post Reply | Private Reply | To 4 | View Replies]

To: grumpygresh
Are graded, encapsulated coins being faked?

Do some research and get back to us with an answer would you?

13 posted on 11/10/2011 7:22:10 PM PST by mac_truck ( Aide toi et dieu t aidera)
[ Post Reply | Private Reply | To 4 | View Replies]

To: HiTech RedNeck

Don;t forget the organ harvesting criminals undergo.


14 posted on 11/10/2011 7:27:28 PM PST by meatloaf (It's time to push back against out of control government.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: HiTech RedNeck
"Once you do catch China's official attention, it sucks to be their poster child faker of the week. Quite often they end up getting shot or hanged. "

Yup.

This woman just got zapped...

China's Infamous Queen Of Corruption, The 'Land Granny' Is Executed

15 posted on 11/10/2011 7:39:25 PM PST by blam
[ Post Reply | Private Reply | To 3 | View Replies]

To: blam

The course I shamelessly promote in my tagline to earn an honest living will tell you that if you have a $10 caliper and a $10 scale, you can’t be fooled. My course includes every weight and dimension of every coin you’ll ever come across.

Here’s one secret I can reveal to my fellow Freepers. silver plated lead makes a great fake to fool your scale and caliper. But the big difference is the silver is HARD, and lead is SOFT. A light gnaw between you canine teeth will easily reveal the difference. (A fake will have a soft “gnaw” feel, while any silver coin, 999 or coin will have a hard “click”.


16 posted on 11/10/2011 7:44:05 PM PST by Atlas Sneezed (Author of BullionBible.com - Makes You a Precious Metal Expert, Guaranteed.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Beelzebubba

That’s kinda what Archimedes was trying to get across. This faking of valuables has a long history.


17 posted on 11/10/2011 7:51:19 PM PST by Migraine
[ Post Reply | Private Reply | To 16 | View Replies]

To: Repeal The 17th

I take that you not in the market for a four dollar Stella gold coin.


18 posted on 11/10/2011 8:11:32 PM PST by grumpygresh (Democrats delenda est)
[ Post Reply | Private Reply | To 8 | View Replies]

To: grumpygresh

Are graded, encapsulated coins being faked?


Maybe a few. But ALL are vastly overpriced and a rip-off for those looking to hold savings in pure precious metals for various reasons.


19 posted on 11/10/2011 8:38:00 PM PST by Atlas Sneezed (Author of BullionBible.com - Makes You a Precious Metal Expert, Guaranteed.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Migraine

That’s kinda what Archimedes was trying to get across. This faking of valuables has a long history.


Thankfully, if you’re after simple precious metals investment (and not overpriced rarities) then the fakes either don’t exist, or are easy to detect.


20 posted on 11/10/2011 8:40:19 PM PST by Atlas Sneezed (Author of BullionBible.com - Makes You a Precious Metal Expert, Guaranteed.)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Migraine

Biting on lead may save my wealth but screw my health


21 posted on 11/10/2011 8:43:28 PM PST by stormhill
[ Post Reply | Private Reply | To 17 | View Replies]


22 posted on 11/10/2011 8:52:31 PM PST by RedMDer (Forward With Confidence!)
[ Post Reply | Private Reply | View Replies]

To: Beelzebubba

Of course, rare coins would not retain their current value in an major economic collapse. But, the historically relatively small current downturn (around 5%) does not mean that demand for rare collectables has dried up or would be a bad investment for the future. Now, consider this. If the US becomes a real police state (IRS on steroids) but the economy limps along at a stagnant 1-2% growth rate (like Europe) it might be nice to have a means of moving a store of value out of the US. A highly valued coin, a rare document or book, or stamp could still get through the airport or border checkpoint w/o attracting scrutiny.
I think it is not unreasonable to hedge for multiple scenarios.


23 posted on 11/10/2011 9:16:07 PM PST by grumpygresh (Democrats delenda est)
[ Post Reply | Private Reply | To 19 | View Replies]

To: mac_truck

Je pense que les sites sur l’internet comme e-bay ne sont pas tres sure. Je vous conseil acheter d’un vendeur d’or en personne.
Dieu vous benisse.


24 posted on 11/10/2011 9:26:25 PM PST by grumpygresh (Democrats delenda est)
[ Post Reply | Private Reply | To 13 | View Replies]

To: grumpygresh

A highly valued coin, a rare document or book, or stamp could still get through the airport or border checkpoint w/o attracting scrutiny.
I think it is not unreasonable to hedge for multiple scenarios.


What makes you think a TSA goon cares about the difference between an Eagle and a Stella?


25 posted on 11/10/2011 9:34:01 PM PST by Atlas Sneezed (Author of BullionBible.com - Makes You a Precious Metal Expert, Guaranteed.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: Beelzebubba

The TSA goon does not. That’s the point. One could get a 100k Stella or inverted Curtis Jenny out of the US relatively easily. If the US erects a virtual Berlin wall, this might be the best way to get your dough out of town.


26 posted on 11/10/2011 9:57:55 PM PST by grumpygresh (Democrats delenda est)
[ Post Reply | Private Reply | To 25 | View Replies]

To: blam

What a demure miss, not a witch like Nancy Pelosi. It’s difficult to be unsympathetic. Maybe her chief crime was believing that China was more capitalist than it was. She would have escaped the axe had she come as an entrepreneur to the USA instead of trying to do it at home. I do not know if she actually abused the official duties of her post to engineer frankly dishonest deals (after all, socialism expects the government to keep things “fair” rather than market driven), but in China if you make too much money on your own, you also incur the envious wrath of the communist bosses.


27 posted on 11/11/2011 7:13:27 AM PST by HiTech RedNeck (ya don't tug on Superman's cape/ya don't spit into the wind--and ya don't speak well of Mitt to Jim!)
[ Post Reply | Private Reply | To 15 | View Replies]

To: blam

Junk silver? I’m glad I was doing something right. Some of the proof Franklin halves though look awfully new.


28 posted on 11/12/2011 6:44:58 PM PST by MSF BU (YR'S Please Support our troops: JOIN THEM!)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson