Fake Silver & Gold - How To Avoid Them - Mike Maloney & James Anderson
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- čas přidán 29. 04. 2013
- Visit: GoldSilver.com & HiddenSecretsOfMoney.com/
Accompanying Article: goldsilver.com/video/special-r...
If you have followed gold and silver market news over the past few years, it is likely you have seen various reports on fake gold and silver products.
In March 2012, a 1 kilo tungsten gold bar turned up in the United Kingdom.
Then in September 2012 there were reports on a slew of 10 oz tungsten gold bars bought and sold in New York's jewelry district.
The big problem with these news reports is that they have given little to no solution on how the public at large can avoid fake bullion products.
We would like to raise the general awareness of this issue both with our customers, our industry, and the general gold and silver investing public at large. With more than a year of hands on research, we have identified some of the biggest fake silver and gold counterfeit threats facing the investing public today.
This Special Report on the growing threat of fake silver and counterfeit gold products will arm you with solutions on how to best avoid being ripped off by sellers of phony bullion products.
For more information about Gold & Silver or Mike Maloney, visit the Why Gold & Silver channel and subscribe: goo.gl/emXEB
Check out this video: • Video
And read this: www.upnorthlive.com/news/story...
Crikey.
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Just ring tested my eagles. They ring true and I'd never realized what a beautiful note they make. Thanks for the tip.
Yea me to, all 8476 of them.
As far as I can tell, this video is tantamount to a public service warning for precious metal investors. Maloney and his guest ought to be thanked for their time and effort. So, considering the benefits of this video, why would anyone in their right mind give it a thumbs down? Were these individuals seriously dyslexic and just hit the wrong button, or are they trolls that derive some twisted sense of power by being contrarian, or are they just stupid? Though, now that I think about it, I suspect the last two categories are one and the same. Maybe, they're the Chinese counterfeiters are the ones giving the thumbs down.
mkaberli there are a bunch of people that don't have any logic. As you have been very well informed, you should not worry about the trolls.
mkaberli I was just about to post "53 thumbs down must be the Chinese" before I read your post.
Good call!
It could just be bots set to auto-downvote certain topics.
Thumbs down could be coming from the folks that are in the 'business' of making the counterfeits.
@@baltsosser lots of money in the very legitimate life of counterfeiting anything
I bought Gold and Silver through JM Bullion. I did a acid test and so far everything is good.
I want to buy too, what advice can u give me please,
"or your 'money' back" .. haha. You mean 'currency', Mike. ;P
Thank you Mike and company-- This is a topic that too few know about.
The gold & silver coin pings sound beautiful... Thank you for the information
The ones that ping long and high are FAKE !
Only the fake gold rings like that...
well..........what metal are they, since u brought it up?
The gold coin has an amazing ping. It gives me new appreciation for it. The Secret Service should arrest the Federal Reserve for counterfeiting. When the bill applies to them I will fully support it! No one has a right to destroy the integrity of money! Anyone or any institution that does belongs in jail.
Thanks for your time!
Hey Mike,
Great to see you again!
All the Best
Hi Leon, the key words in my prior post were "Governments Cannot Protect Bullion Investors" & "unsuccessfully lobbied".
The internet makes it too easy for fake products to be shipped anywhere in the world. No legislation will stop this growing problem.
Many thanks to Mike and James for this informative video.
THX for the solid info !
Thanks for the info.
There are 3 (relatively good, easy and cheap) tests:
1) magnetic wheighing
2) ultrasound
3) electric
Acid tests dont go deep enough (just surface)
and radiologic tests are complex/expensive.
Just use weights, measurements, and a rare earth magnet for silver. Easy peasy~!
Hi, I know you said a magnet does not attract to the fake SAE, but does the magnet push it away like it does on the real SAE? Thanks.
Many thanks you guys.
Good to know !
Thanks for the great video
Thanks guys. I really am thankful for your videos. I buy from you guys for a reason!
Thank you James for protecting American precious metal integrity
Cheer Varis - this by the way warned even more people czcams.com/video/JxcO-lpETdc/video.html
Just listening to the sound is very subjective. So I tried something more numerical, record the sound with a microphone and do spectrum analysis in Audacity (record the sound, select the interesting part, analyze->plot spectrum).
The confusing part is, that I don't get a clear peak at the supposed 6145 Hz. In fact, there is no significant response at that frequency at all in the spectrum.
The sound in the video at 1:52 has peaks at 3800 Hz, 8750 Hz, 15250 Hz (about 4x 3800) and a very small response at 6370 Hz.
A silver eagle that I got has the same 3 peaks in frequency (within 1%) recorded with a very cheap microphone. So it basically sounds the same as their authentic example. But where does the 6145 Hz come from?
You're correct. The ASE fundamental is about 3.7 kHz. The 6145 Hz report is nonsense.
What is the device being used to test the bullion in this video?
what do you think of XRF analysis? I didn't see it mentioned.
Does the ring test work for 1 oz bars?
Hi!, Thank you very much for this video. I've tested my silver eagles and all seem fine, but none of the Austrian philharmonics, Canadian maple leafs or UK's britannicas were able to give the same sound. Can you confirm that this pitch you showed is specific to the US Silver Eagle? Th
different coins give different sounds. check density (specific gravity). Should be 10.49g/cm3
Which coin is ringing?
What type of coin are u striking the other coin with?
Do the neodymium magnet test for silver works on these better quality fake coins?
How can you check it without destroying the numismatic value I don't want to put dents in them
Can you determine authencity by weight and dimensions?
where do i get that coin tester and how much
on a magnetic,, ramp slide the silver gold go down slowly..due to some reaction from a strong magnet magnetic flux..other non magnet metal go down fast..but not cupper..about tungstent i not know..
are you paying a huge premium for such small bars compared to 1 oz or even 1 kg bars?
Very helpful video I just sounded my stack and omg this is ecxiting.
Thanks for the "heads up" ! Sadly, now all of us have to inspect our holdings with extreme scrutiny to determine if we have been duped!!
lol man that sound of beauty sounds so pure it made me think you edit the sound :)
What are actual weight limits for bars?
what about poured silver , how can I check that?
ultrasonic with the TM8812 :) and density
what about cyclic amperometry, especially to test silver coins ? it should be far less expansive testers than X-ray diffraction ones and can detect plated or inhomogenous or alloys. I bet there IS a market for those as well but couldnt found still (althought i didnt search that much). can you investigate that, mike ?
thank you for this video
thanks...great job
Instead of tapping my PM with a metal object, I used the end of a Ball Point Pen...the plastic barrel won't muck up the metal, and you can still ring out a 10 oz Silver Bar with good results.
That's the sound of real money.
Important video, shared.
Maybe an idea for Mike is to make a video about the face value of minted coins and what it will mean if you decide to bring it out of the country. Compare that to coins w/o a face value and silver bars, interesting.
Thank you mike.
Got a rare new millennium £5 coin years ago and checked it and, as far as I can tell, it is pure silver because the sound is long and consistent. How cool is that?
Great information. I just started collecting silver bullion a month ago. I've been buying from reliable and reputable online dealers. Glad I haven't been getting my bullion from local coin shops or pawn shops. Glad I followed my instincts.
Can u tell me websites to buy from?
What website is the sounds on?
They had me up until "numismatic coins are a bad invest". Yikes. When bullion drops, it doesn't touch the sides on the way down. Bullion is NOT an investment, it's a cash saving hedge.
since you can't ask a bank to give you a counterfeit coin for testing this. how else can you do this?
what are the penalties for (re)selling counterfeit coins/bars?
What is the difference between numismatic and bullion?
Thank you...
It is becoming more and more clear that China is a sewer.
All the more reason to buy things made in America. Bring the prosperity back home. "Made in America" prices are finally becoming competitive once again. Been buying US made whenever there's a choice to.
clairishe Nothing is made in America anymore, if you buy American its made in Mexico, rich people dont even like to pay minimum wages to Americans. Globalization is killing nations, only so the rich can make more money.
If I get a guarantee for a fake and discover it a year later, what prevents the seller from stating that I made a switch?
How do you test bars for purity?
@10:00 you need a strong magnetic WHEIGHING machine. But he's right the difference IS VERY SMALL of dia- and paramagnetic differences, so you need a very sensitive machine and a strong magnet (besides a comprehensive comparing table). I have a magnet wheighing machine and am thinking to buy an ultrasound tester.
where did u buy them?
how come with the canadian coins i really dont hear the ringing.
Won't the counterfeits affect the long-term value of the metal as well as the value of the real coins & bars?
I can't believe they plugged storage services, especially with the controversy regarding the market being manipulated and paper contracts being unbacked. If you don't hold it, you don't own it.
Can you tell us how that fake coin which was 73% copper,18%Zinc made it through the density test?? If the weight was right the dimensions must have been off. Densities -> Copper-8.96g/cc, Zinc-7.14g/cc,Nickel-8.9g/cc,Silver 10.49g/cc. To properly fake the density one must always use lead-11.34g/cc along with lighter metals to get close to the density of silver.
Surely the fake coin shown in this video must have had an odd thickness.
There are fewer small product/weight fakes because of the economics of scale don't favor making small fakes. However, they still exist and are not uncommon these days. Magnetic slide (Diamagnetism) test is my favorite test for silver. You need a rare earth magnet for it though.
The above video just told you the magnet test would not work on that fake!
Half of China's households make less than $1 per day. That could be one to three plus people. They will fake absolutely anything from vitamin pills to American Indian artifacts and jewelry.
Just curious most of the larger size bars 10 oz and up were either plated with a thick layer of actually gold or hollowed our and had tungsten poured into them. I remember one that had close to 33% of its wieght made of gold and the reminder was tungsten filled cores. A majority of these tungsten filled bars were discovered in European markets
Where do you go to buy the fake coins? You had a website displayed for a shot while what is that?
Great video Mike! I bought a couple silver liberty dollars on the cheap and they turned out to be cheap. I guess you get what you pay for.
Five years later and what has stopped absolutely nothing...
US Mint is finally doing anti-counterfeit ASEs & AGEs by May 2021 (delay due to coming early COVID shutdown Sep 2020).
Whens the next installment of Gold and Silver:Secrets of Money being released? Seems like forever since the first one came out.
The number one way to avoid fakes is to ONLY buy from a trusted dealer.
Thank you for making a video about the knock-offs!
I always thought it was irresponsible to strongly advocate purchasing precious metals, but then never mention this dark and very prevalent side of the market.
However - failed to mentioned the APPEARANCE TEST / WEIGHT TEST / MAGNET TEST / PHYSICAL DIMENSION TEST - Whats with that? Also very important.
Thanks Mike Maloney...
I want everything checked ain't no such thing of a chain of integrity anymore 😂😂
First of all, this is a commercial. It isn't a public service video, it's a commercial. They're selling a product. Keep that in mind. Someone said they're performing a public service (note the term). No, they're only trying to push their version of a product. "Pinging" a coin is no definitive test. Large bars of precious metals invite fakery. Stick to small silver rounds from reputable dealers. Do NOT trust sellers on Ebay. Go to a coin dealer. If your silver is fake, you know where to go to get your refund.
Very sound advice! I am currently this advice to heart in the way that buy coins.
Thank you so much Mike for bringing this evil to our attention. Noone wants fake assets.
And just recently as early as early as 2010 stated to show up in New York gold market places. I mean its hard to believe that Chinese counterfeiters are purchasing legitimate gold bars and drilling in tungsten cores. Nassim thought the culprit must be a professionally trained jeweler to have pulled off the caper. "The forger had to slice the original bar along the side, hollow out the gold and insert the tungsten ingot, and then reseal and polish the bar, Nassim said.
Great video, thank you educating a novice. :)
Still, it will be easier to detect fake small silver product, with its thin plating, Are the 'xray guns' reliable for detecting plated silver and gold coins? Hollowed out gold bars would be more difficult to detect by xray, i think you are saying?
Does the sound sound the same for gold
The information below the video would be better if you had a link to US Congress, the contact page and the bill number put in.
You should do an update on this topic, it is now 2 years later, and I have seen almost every kind of coin, round and bar faked. Yes, even 1 gram bars! can you believe that?
If anyone is planning on buying any gold or silver do yourself a favour and buy from a reputable dealer witch strict control measures.
lets say you have a lot of gold jewelry but you want to melt it down into a bar. how can you do that, what are the pros and cons to doing so?
Is there any way the Mint can be selling counterfeits?
Encryption keys can be broken. If Bitcoin ever becomes popular, it will happen. Just like how people can get into bank account, credit card accounts, and social security numbers.
Well there's also the fact that they don't want to protect them. That's what I'm trying to say. I agree with you on the internet.
How low will people go to make a sale?
i bought some silver bars from a store in tacoma wa thats been around for 50 yrs, the bars have chinese writing on them, could they be fake, i dont think a store with their rep would sell fake silver, thanks
Does the rare earth magnet test work on those fake silver eagles?
If you know anything about ASEs. These counterfeits are very easy to spot just by putting an actual ASE next to them. I wouldn't worry about them at this moment. Maybe if or when they can make better ones.
"Counter proof measurements" lol. I love when people just say thing because they got like half way through a word and realize they didn't have the whole sentence planned out. I do this too but it's much more funny to see it happen in a semi professional setting/video.
The ring of truth...
I've bought a number of coins from different suppliers, including the Royal Mint (UK), BullionByPost and Silver-to-go. Does anyone have any experience in buying from these companies? I obviously want to avoid buying counterfeit silver. Seems this could be a big problem, especially when people are understandably wanting to buy silver as cheaply as possible above the spot price. Especially in the UK when we are subject to VAT.
I did a video on one of these fakes, they are not bad and unless you know what you are looking for you can get scammed.
I bought a 2014 Gold buffalo here in Denmark and I fear I got cheated. I find it hard to believe that the US mint would release a coin with an uneven edge.
I even bough a coin tester from goldcoinbalance and the coin passes all the tests except when I test the thickness. When turning the coin in the thickness slot it will become slightly stuck at one point.
we should monetize indium. You can melt it in your kitchen oven. No way people could get away with counterfeiting indium bars.
Thank you from, AUSTRALIA..
The 2013 gold coin has new security feature. Canada is always ahead of the game.
Actually if you study his research, it tells you when the best time is to buy better than any other supplier out there. He runs a business so he will always say it's a good time.
The Silver Eagle. I'd bet magnet test *DO* work. You need to do the *right* test. Not just a simple test to see if a magnet will stick. Let a neodymium (very powerfull small) magnet slide down by a 45 degree angle. On the real silver eagle it'll slide down slowly while on the fake it'll slide fast. The reason is eddy current. The base metals in the fake has much higher internal resistance and therefore much less eddy currents are generated than in the real one. Try it before dismissing magnets!
What is the solution of these problems?
Us a magnet! It won’t stick but will slightly stick and slide off really slow
Not any more....they now use non magnetic metal....so the magnet is not the only test now
@@harveymushman2219 silver is slightly magnetic. The neodymium magnetics slide slow, non silver slides fast or magnetic sticks to coin.
This is why I was reluctant to get into metals at all. I wouldn't know the difference between Gold or Brass. However, I realised with the Global Economy the way it is, I needed to get into metals. I went to a large reputable dealer. You get a tube of coins from a dealer, and for someone like me, am I going to pull them out and 'ding' them?
I'm starting out too and feel the same way. any luck?
@@kev1734 I bought from a large reputable dealer who buys back the metals they sell you. I keep the reciepts. I would NOT buy from a small coin shop or Ebay. So I have confidence the metals I have are 'real'. Just go to the Chinese site wish.com - where I have bought a lot of very cheap stuff, like nice watches for $5. You will see there a LOT of copies of Gold and Silver for a few dollars and so realistic, only someone with proper tools can tell the difference. Anyway, in answer to your question, I do feel 'lucky'. As the world economy worsens, my stock of metal goes up in value. I bought Gold and Silver in March 2020 when it was cheap. To buy the same now, would cost me AU$25,000 more!!! Which is now too expensive for me. However, even though it is dearer now than in March 2020, It will keep going up - some say to $200 an ounce - For someone starting out I would recommend buying as much as you can afford. Your paper money will be reducing in value, but metal will keep going up.