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Fake silver coins/bars showing up in the NW

Discussion in 'Preparedness & Survival' started by Sasquatchvnv, Feb 23, 2011.

  1. Sasquatchvnv

    Sasquatchvnv Port Orchard Active Member

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  2. Decker

    Decker My house Active Member

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    Listen for the sound of truth.

    -d
     
  3. dave

    dave Independence Member

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    Stay far away from any bar or round that says 100 mills pure silver or any variant of mills for that matter. These are silver covered iron bars that have no value whatsoever. I ended up with 2 of these out of ignorance.

    Now its strictly Eagles or bar stock from a highly respected mint such as Apmex or Kitco.
     
  4. billcoe

    billcoe PDX Platinum Supporter Platinum Supporter

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    Thanks for the heads up Sasq. BTW, also of concern to NWFA members is the counterfitting of Leupold scopes. They say they appear the same on the outside, but you can easily call the S/N into the factory ("write down the serial number and call 1-800-LEUPOLD to confirm if it is indeed authentic") to confirm it is theirs.

    Leupold || Counterfeit Warning
     
  5. Rusoarmo

    Rusoarmo Seattle Active Member

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    Wow thanks for the warning. Although my personal collection is small I'm sticking with eagles and pre-65 coins...
     
  6. chemist

    chemist Beaverton OR Well-Known Member

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    +1

    Would you buy a Rolex or a diamond on Craigslist, or from a pawn shop? Reputable dealers have reasonable markups that are neither excessive nor too good to be true. The bargains come with quantity purchases. Silver Eagles are a great candidate for a group buy!
     
  7. Texfisher33

    Texfisher33 Tri-Cities, WA Active Member

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    I sold some old 1 oz silver bars/rounds to a dealer a few weeks ago. He had his grandson who was working for him go through and look at every one of them fairly carefully. He said he's had a few fakes come through as well.
     
  8. mjbskwim

    mjbskwim Salmon,Idaho Well-Known Member

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    Two pawn shops in Port Angeles got burned buying fake coins.
     
  9. moose

    moose northwet coast Well-Known Member

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    I have a couple dozen silver coins dated 1740 - 1900. Very pretty but none tip the scales at even close to an ounce. They sound funny too.

    I didnt pay anything for them so no big deal.
     
  10. Blitzkrieg

    Blitzkrieg WA Well-Known Member

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    Is it only those two scope types? I am about to send in an older-looking 3 x 9 target dot scope that will not adjust.. traded for it a few months ago (2010) from a guy in Oregon who was offering them here..
     
  11. mccullogh

    mccullogh NW Oregon Member

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    Did you weigh them in troy OZ ? they may not have been 1oz coins either.
    I wouldn't assume they are fake. You should get a couple of coin shops to look at them before you do anything with them.
     
  12. nubus

    nubus Guest

    Silver Dollars are not an ounce either...
     
  13. Just Jim

    Just Jim Well-Known Member

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    So what will this mean to people who want to sell their silver during a SHTF? Would you trade for something you don't know is real?

    jj
     
  14. One-Eyed Ross

    One-Eyed Ross Winlock, WA Well-Known Member

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    One of the reasons I'll never trade in silver/gold. I can't eat it, shoot it or use it to keep myself warm/dry. It serves no useful purpose, and I won't be giving something up for "silver and gold" in any emergency situation.
     
  15. Ought Six

    Ought Six Snoqualmie Valley area Active Member

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    According to the blog, it is quite easy to detect the fakes.
     
  16. MA Duce

    MA Duce Central Oregon Well-Known Member

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    OMG OMG OMG There's CROOKS out there!!!!!! :laugh::laugh::laugh:
     
    Grunwald and (deleted member) like this.
  17. EZLivin

    EZLivin SW of PDX Well-Known Member

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    You bring up a good point.

    That is one of the major reasons why I don't see ammo as ever being a currency (as some contend it will). Would it be wise to trade something of value for a few rounds of some ammo that one does not know the condition of? You don't know how long it has been stored, under what conditions it has been stored (or not stored at all; just has been going from sweaty pocket to sweaty pocket for months on end), and you don't even know if it contains real powder. Too many "ifs" to make it a viable currency.

    I believe whatever crisis occurs, paper currency will not be going away. Some people will trade metals for goods, but the majority will trade metals for currency, which will then be used for commerce. Currency traders will be experts at recognizing real metal from counterfeits, and will facilitate the exchange (benefiting from the spread). The reason I am confident in making this statement is because that is how it is always done. One can look at any recent (or ancient for that matter) example of a currency crisis to see what happened. I'm sure many folks on this board who have visited foreign countries can relate to arriving in a country, and then exchanging some of the currency they had in their pockets for a different currency to be used during their stay. Chances are they did it on the street because the exchange rate was better than they could have received at a bank. Same thing will happen with metals during a crisis (exchange at a metals dealer, or exchange on the street).
     
  18. moose

    moose northwet coast Well-Known Member

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    I did, the downtown bellevue shop, there is little doubt they are fake.

    Edit: They were never represented to me as being real. I could post some pics, one is a $20 gold piece, supposedly the most counterfitted coin ever.
     
  19. simpleguy

    simpleguy Clackamas Active Member

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    This is part of the reason I only buy what I know. Silver Eagles and junk silver from a respected seller. My dealer of choice is Willamette Valley Books and Bullion, I have no doubts Tory there would back his product and buy it back if there were ever a fake.
     
  20. Grunwald

    Grunwald Out of that nut job colony of Seattle, WA Well-Known Member

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    EZLivin, I don't think you are correct. I bet you have never experienced anything even remotely resembling hyperinflation. I have not, but have family members who have and trust me when I tell you that when it happens no one wants paper currency. In cases that I am aware of, people wanted foreign currency - US Dollars and German Marks were the favorite, as well the British Pounds.
    If the US Dollar goes into a death spiral there is no other currency out there that people here would trust. The Pound is but a shell of it former self. The German Mark is gone. I doubt that Americans would trust the Euro. They might have 5 maybe even 3 years ago, but since Greece and Ireland made the news, that currency is very suspect.

    Lets not go overboard with this alarm, just because there is a news story about fake silvers showing up. You're still using the Federal Reserve Notes, and yet how many stories have we heard over the years of forged USD???? Lot more than about fake silver bars or coins.
    A silver coin is easily verifiable if you are prepared. All you need is a scale and micrometer or a way to measure liquid displacement.
    All metals have a specific density, so the size to weight is constant. If they silver coat iron or steel the coin would be larger to weigh the same. If the use led, than the coin would be smaller.
     
    Last edited: May 5, 2011