Who would have known that someone would take the time to arrange a slew of videos that can help you learn how to spot fake silver. As much as we warn against buying from unknown dealers, sometimes a deal comes up that can seem trustworthy, whether or not the dealer has a business on the books. In the case you’ve come across a nice deal to purchase bullion outside of an established dealer store, use caution. This YouTube playlist of videos can be one extra step you can take to ensure you are not ripped off.
The most popular of these scams is the Morgan Dollar, a coin minted from 1878 until 1904, and again in 1921 for a short amount of time. The handiest tool against Morgan Dollar counterfeiters is a small scale that can measure to the hundredth of an gram, even though most metal is measured in ounces (most digital scales have an ounce AND gram option). If the coin does not measure within one hundredth of an ounce from 26.73g, then cancel the deal because you are about to get jipped. This Morgan Dollar scam was mostly being tracked on eBay.
These videos also meant the drill and fill method with 100 ozt silver bars where scammers would drill out a hole in the bar and extract as much silver as they could before filling it back up with lead. Lead is drastically different in weight, compared to silver, so that alone should help you detect any potential scams.
Hope you find these videos useful!
Happy buying,
Megan
