Beware of the Fakes!!  Here is Some Help

In its weekly issues, Coin World writer Paul Gilkes often discusses counterfeit silver bullion coins, rounds and bars that have plagued the numismatic marketplace for several years.  He has reported on counterfeit 1-ounce silver rounds being offered in the United States, fake 2011 silver bullion coins surfacing in Canada and fake 1-ounce Chinese Panda bullion coins showing up worldwide.

It is believed that many of the counterfeit silver bullion pieces are being offered online and elsewhere and have infiltrated the marketplace from suppliers overseas.

Pictured are the rare earth magnets that are one of the simplest tests you can make to detect fakes.

Some of the recently reported pieces include fakes of 1-ounce .999 fine silver Pan American bars, Scottsdale bars, Sunshine Mint bars, Chinese Panda silver coins, Australian Lunar Dragon bullion coins and Canadian Maple Leaf bullion coins, as well as generic 1-ounce silver bars.

While the attempted sellers of such fake bullion items often go untouched by authorities, not all do.  In many of the most recent incidences local authorities have been quick to act and have caught and prosecuted the persons involved.

Yet the first step in the process is the individual making the purchase.  An article done by the “eyeballkid” details and demonstrates how to detect some of the counterfeit pieces that have popped up intermittently. The presentation includes video demonstrations and pictures.   It can viewed at http://theeyeballkid.hubpages.com/hub/Fake-silver-bars-and-coins.