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silver?
MIKE WISKEY
Member Posts: 10,043 ✭✭✭✭
lately I've had a 'bunch' of ad's pop up on facebook offering silver dollars at 'give-away' prices. I figured wth, lets order some (credit card, cancellable). they came yesterday. looks ligit but …. the one on the right is from my aunt (died several years ago, age 102), the left one is one I just received. total cost is $2.86 each (and no they are NOT magnetic)
Comments
I donno, seems pretty cheap to me. Weren't run of the mill silver dollars going for $10.00-$12.00 a couple years ago?
Clearly not the same profile, but I do not know if there were variations. I would be suspicious, but I likely would not have ordered any in the first place. I just don't trust something for little or nothing.
It could be an illusion due to their coin being lighter color. But theirs looks and measures (on the screen) larger?
I thought 'scam' at first also, I posted earlier about a 'fake' silver dollar I had bought. I can't see any differences between the 2 other than color). I put the 2 on my reloading scale, original weighs 411.3 gns, 'new' one weighs 307.5 gns. ah/ha.
That’s is a difference of 104 grains or 6.9 grams, that would be a quarter of the weight gone, they don’t look like they are that worn.
I don’t think they are real.
The last I checked the spot price for silver was $33.91 an ounce. I can’t see someone selling them at a $30 dollar loss each.
There is a difference in the LIBERTY in the headband and the noses are different. The weight difference confirms one is a fake…
Bring it to a sliver dealer and see what they say. They should give you at least $30 if real. It's way too cheap. My first thought was the one on the left was cleaned which brings down the value but even a Morgan in bad shape should be worth 25-30 dollars.
you got took
Buy several and pass them on to your friends as gifts, they'll remember you long after your death…………😀
"Never do wrong to make a friend----or to keep one".....Robert E. Lee
There are a lot of precious metal scams going on these days. Always be sure to buy from a well established, reputable dealer such as JMBullion, or American Precious Metals Exchange (APMEX). Both of these have solid online sights.
I've thought of buying coins, but trust no one
use APMEX or SD Buillion
Faker than fake……….you don't get something for nothing……you can buy these from China for less than $1 each.
Merc
"you can buy these from China for less than $1 each."
I thought counterfeiting was illegal.
It is but another sight sold items that were counterfeit for years and brought in millions of items until to many people told the sight it was scams. Example Schmidt & Bender sniper scope , $129. Called it the Asian version . The coin is fake and 100% from China.
No one is going to sell you an actual U.S. silver coin (90% silver) at less than the current spot price, which changes continuously depending on the market. Google "Silver Coin Melt Values" and a number of sites will show the current price. Buyback prices will be less, of course, generally 80 to 90% of selling price. At the moment, silver dollars are being offered at $33.82.
It is NOT………… in China !!!!
A story from my 17 days in China back in 1996. We had the opportunity to walk on the Great Wall one of the days we were there. As I was walking along a Chinese gentleman stopped me and asked if I wanted to see some coins of great value. He pulled out a handkerchief and wrapped in it were 6 silver dollar size Chinese coins. He told me they were between 75 and 100 years old. His first request was for 300 dollars American.
They were nice fakes and interesting so I figured I would buy them just because of where I was at. I offered him 10 dollars American for them. He balked and came all the way down to 100 dollars American. I said no thanks and started to walk away. He accepted my offer at that time. So I handed him a 10 I happened to have in my pocket. He did not miss a beat and pulled 6 more out of his pocket and said, these are even more valuable coins than the first group and offered them to me for 400 dollars American !!!!
I reached in my pocket, pulled out 5 dollars American and he hung his head and took it… The final joke was on him. 11 of the coins were fake, the 12th one was real and is worth about 100 bucks !
The one on the right looks like someone poished it with sand paper or steel wool.
The one on the left has that slight up turn nose and the nostril flair and missing the septum.
As for the magnet test. On youtube I saw magnets slow down silver. Also most places that deal with silver has glass display case. Back in the day a quick test was to let the coin wobble on the glass to hear it "ring" I see that now there is an app.
https://www.youtube.com/watch?v=FO6D2c5UnOA
My Cousin auctioneers a consignment coin auction once a month. He commented that the market was 'flat' except for real deal collectors' pieces. Spot market weight value for everything else. Silver bars of known weight/percentage were the better selling items. One nicely cased set of silver coinage appraised around $10K brought under $8K on the block. Either the appraiser was off the mark or number two bidder lost his nerve?