The best way to avoid buying fake silver is to be aware and careful about who you buy from and what you buy. SilverSlanger, Join today for FREE! Plus, there's the fact that getting 5,600 400 ounce gold bars into the London Good Delivery system isn't easy. There are a few things you can do to avoid conflict in and around your precious metals. If you own OPM product - as I do - then you got hit the same way. OPM are an LBMA approved refiner for 'good delivery' silver and gold bars. A refiner putting that much gold suddenly into the Good Delivery System would likely raise a lot of suspicion. 1 oz Pan American Silver Bar. The photo’s below show how the silver bar attracted and picked up a magnet. Product Rating Second, buy from trusted precious metals brands such as Republic Metals Corporation and the Royal Canadian Mint. Then what? Have you looked at the thickness and weighted them both? If the magnet can be picked up with the silver coin or bar then it is 100% a fake. Read this post to find out. Generally you should be able to find one of these, somewhere in the house. That's one primary reason the mines have to. 3. × The design of the 10 ounce OPM silver bar is in line with most other ten ounce bars in the industry. So there aren't a huge number of potential candidates. The lettering height is compressed on the genuine piece giving it a "squat" appearance. The reverse has the universal recycled symbol with the guaranty it is a recycled product. Your resource for identifying counterfeit bullion. Unfortunately (at least in my experience) it is also the most unreliable. Perfect There are a few things you can do to avoid conflict in and around your precious metals. But there is another post on here regarding the reliability of this test. A fake coin or bar on the other hand is more likely to make a dull thud. The below photos show the magnetic silver that I purchased. OPM was shut down as part of the Elemetal scandal that came out in mid-late 2017. Even more telling is the fact that the United States currently only has 2 refiners approved for London Good Delivery Bars (Johnson Matthey and Metalor USA Refining Corporation). without express written permission from FakeBullion.com LLC. Silver is considered diamagnetic (as is lead), meaning that it repels a magnet (as the magnet moves). A reasonably powerful rare earth magnet is best for this test, as a standard fridge magnet most likely won’t be strong enough if the fake is silver plated. And if you place the bar at a 45 degree angle, the magnet will move slowly down the bar (compared to a book, where it will move as fast as expected). Think about blood diamonds here; do you want red gold? The following are a list of fake silver bars and coins which have been reported (to name a few). Also, 520 million ounces of gold is more than half of what all the governments in the world have in reserves! For more way to test silver, check out SilverCoins Fake Silver Coins: 11 Ways to Spot Counterfeits. Not that bad If you move a strong magnet over a 100 ounce silver bar, you'll feel resistance (similar to moving your hand in water, rather than air). 10,000+ forum members. Because the grueling shipping process often takes its toll on the product being shipped, your 10 oz OPM silver bar will be placed in protective plastic when it is delivered discreetly to your door. A proof-like background/field surface finish is often an easy way to identify fakes, but in this case it is a very good match for the standard finish on OPM rounds. 1 oz Scottsdale Silver Bar. Although certainly not in the same proportion. Much like the comprising the physical integrity of the bar, the last thing anyone wants is for a refiner to compromise its ethical integrity. It is also 6.5 years worth of global mining production. If you have an account, sign in now to post with your account. Buy From Reputable Dealers. We'll talk about the big picture in another article. Images shown are examples only. The reverse side of this bullion features a diagonally fixated pattern of raised, repeating OPM mint marks. FakeBullion.com LLC makes no guarantees about advertisers and is not responsible for any third party transactions. Minted at Ohio Precious Metals in the United States. seems some other metals can also pass it! This stamp has been used since 2012. They are both the same. All original information, graphics, and photographs are copyrighted and may not be redistributed (including but not limited to: other websites, forums, print media, broadcast media, etc.) Tested them at my LCS yesterday and they are all good. And the fact that Chinese officials apparently had 'many' of the perpetrators in custody (yet most of the perpetrators would have been in the United States). Charleston, SC 29407, Local Numismatist Attending American Numismatic Association Coin Show in Chicago, Over 40 years experience with business contacts throughout the industry worldwide; Attended all major conventions and auctions, Specialty in U.S. Gold coins and Silver dollars, Very competitive bullion prices- Gold, Silver, and Platinum, We buy used and unwanted jewelry from 10K to 24K Gold, Sterling Silver, Flatware. OPM was shut down as part of the Elemetal scandal … This piece is best identified through objective testing methods such as precise measurements, the Precious Metals Verifier, or the use of silver testing solution. If the price is too good to be true it probably is. November 2 in Silver. COVID-19 Restriction: Limit 2 People in store at a time. It is difficult to position the coins in order to get the ringing sound, and depending upon the size and shape of the coins/bars it might not ring at all. Call us at 1-866-898-4805 or email us at buybacks@silver.com to receive custom bid pricing for this item. Follow my Morgan dollar quest and watch other video's on my YouTube channel: Peacemaker. Please provide some details about your product experience: Save my name, email, and website in this browser for the next time I comment. As far as ping on bars, I’m super new to this and was just going off of YouTube videos lol. You will always want to combine this with the magnetic slide and dimensions test. Think Barrick Gold here. But here is the problem you face: you will get a much lower premium than you would from almost any other product. Paste as plain text instead, × Miners take the metal out of the ground. If that doesnt convince you then you can measure density at home. The magnet I used was a small neodymium magnet that I found in one of my kids toys. You go to a reputable dealer who has some left in inventory or buys it secondary market. Archived. After this experience I am much more cautious now about where and who I buy silver from. The following are a list of fake silver bars and coins which have been reported (to name a few). However, they are not as prevelant as one might imagine. Note that buybacks are subject to $1,000 minimums as well as possible maximums depending on inventory positions, and require verbal confirmation via phone. Ste. Nowadays, this mint is one of the most prominent in all of North America and has reached a peak level of worldwide prestige. And here's the kicker, your product. New entries in the Fake Bullion Database can only be viewed by donors for the first 60 days they are listed on the website. Average http://www.youtube.com/watch?v=LgjGJtcgfuA&feature=player_embedded. Any quantity available for $1.29 per oz over spot! Most likely, this would work best with fake silver jewelry. ... 1oz Sunshine Bar 1oz JM bar 1 oz JM Freedom round Canada 2014 $250 silver owl 1 oz generic Indian head 1 oz OPM round 1 oz Heraeus bar 1 oz MCM bar 2011 RCM round 1 oz Scottsdale round 1 oz Stagecoach bar numerous various sized poured Engelhard bars.
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