Sorry this took me a long time to put out. Hopefully this video will help people spot fake bullion, before buying them. Here is a link to the full article ~JobIII
It's good to know these bars fail the magnet and ping tests. A bigger and stronger magnet would make testing inside the plastic cases or shrink wrap sleeves easier.
Well I did have a stronger bigger magnet. But I couldn't get the bars to drag it. Or the other way around. Basically be careful and do your homework before buying. ~JobIII
I've come across a Morgan that was coated with some sort of gold toned plating that behaved similarly. It had a much stronger interaction with a magnet, but even without a case, a rare earth magnet would barely lift it, but it would. I'm fairly certain the Morgan was authentic and it was just the plating that was causing it to behave differently.
I have a want ad up to try and pick up a few of these bars. I would like to test them using various methods, and ultimately cut one in half with my band saw and post videos/photos of the results. I have seen someone cut a fake ten ounce bar in half with a band saw, but not one of these smaller bars. It'll probably be quite similar, just smaller. Maybe I could compare and contrast between the fakes and genuine examples from the various mints. For example, if I can get a good fake Sunshine Mint bar, I'll buy a genuine bar with the same design and then I can post weights, dimensions, magnet and ping test comparisons, etc.. I don't think I'll cut the real bars in half though.
BTW, talking about strong magnets, have you ever seen one pick up a dollar bill due to the magnetic pigment in the ink?
Second caption reads, "This is a video is about.........." By the way, what is an "unlicensed Seller"? I'm not "licensed" but I occasionally sell bars.
I bought a fake, it was a good one. Fooled my LCS but then I showed him how to tell with a rare earth magnet. I gave him the magnet and yes he HAS used it.
I wondered the same thing. I assume it means someone operating without a business license, because you certainly don't have to be licensed by Silvertowne or the Sunshine Mint to sell their bullion.
A license, usually from the city, sometimes from the county or state, to conduct business. It isn't always required, but obtaining one helps demonstrate that you are on the radar and generally compliant with local and state laws as they pertain to your business. Many jurisdictions require businesses to display their licenses in a conspicuous location. Start keeping an eye out and perhaps you'll spot a few. Here's a little blurb from my city's web site in regards to licenses in general: They are frustratingly vague when it comes to which businesses require a license and which do not. Do I need a license for selling stuff for profit on ebay? What if I engage in multi-level-marketing? (Pampered Chef, Avon, etc.) What if I own a corporation that does not engage in any revenue generating activity?
We saw some counterfeit PAMP 2.5g gold bars this week... 20 pieces to be exact. All carded and each with a unique SN.
A close-by neighbor with chickens tends to arouse RAGE in most urban settings: racket, smell, vermin, rats, an ugly henhouse, and a rooster screeching at 5 a.m. Chickens belong in the country. And does the neighbor give you any eggs? Nooooooooooo.
Yes, at the very least, a fishing license. And some states used to make you buy a "trout" stamp to stick on your general fishing license.
