Posted on 08/28/2019 8:58:55 AM PDT by Steve1999
Man, you should look around as to fake Morgans & Peace dols. There are CITY BLOCKS in China with SEVERAL companies devoted to counterfeiting US SDs.
On ebay, they are widely sold by clearly Chinese companies; typically stamped “REPLICA”...for $2-3. One has to ask “what happens when they delete the REPLICA stamp?
In some sense, “loose” “circ’ed” SDs are a bit more detectable, provided you have looked at great numbers of them. I have about 200 junk SDs and have looked at them plenty but you could probably tell me 15 teeny details about them that I don’t know if you were the super expert. There are several distinct wear patterns....but there are few varieties that wear quite like “O” mint dollars. The coining machines used in the New Orleans mint were all used, in some cases, highly used, and “O” strikes are almost always “not so good”. Most people think that an “O” mint marks are rare. In truth, most of them are not. ‘92/’93/’94/’95 are the rare ones.
WIDELY sold are “CC” mint mark SDs because they command such high prices. In counterfeit slabs. Yes, in counterfeit slabs.
I am 98% non-numismatic when it comes to junk, by the way. I *AM* aware of very low mintage SDs. On silver dollars, as you probably know, while they were made for maybe 50 years with up to 5 mint marks, there are really only about 15-20 rare ones.
One of the hidden risks of buying gold. Would you even know if it wasn’t gold?
I just read a couple of articles. Apparently the risk is primarily only if you are looking for “rare” silver, as opposed to junk silver. Fortunately, I only deal in coins for their silver value. I have a couple dozen american eagle silver coins, but I bought them over a decade ago, and they all came in mice airtight boxes, etc. I was able to get them used at “junk silver” value and I think this was before there was a lot of motivation to counterfeit this stuff (i hope).
https://www.cointalk.com/threads/buying-junk-silver-what-should-i-worry-about.102202/
Since they have the bars, and it’s real gold, send the bars to a legit refinery and recast them. Too late to lament where they came from.
A couple of my gold bars are stamped, “ACME”. Should I worry?
/s
“If you make a product, any product, and someone else makes the same thing with your label and just as good but you don’t get paid and your reputation and value drops, is that not a problem?”
Meh, gold is not just a commodity, it’s an element. Nobody in the history of planet earth has “made” it. People might refine it and stamp their name on it, but the market doesn’t care about what label is on the gold, because as long as it is of standard purity, it’s exactly the same as all the rest of the gold out there.
You are so right!..I don't offer this to everyone but the way you think makes me compelled to offer you the Bridge I own in Brooklyn for 50% below real value
Please inspect it 1st and send the check as soon as possible...Once your check clears..I have a friend in Nigeria that you could sell it to for 100 times its value..
Please hurry ‘cause this deal will only go to the 1st respondent!!
You have no idea how the gold market works, do you?
Only one entity would possibly care: A government (or governments) that want to track wealth, especially gold, with the intent to seize it at some point.
They are the ones that want serial numbers, markings, et. al.
I guess not!....Please tell me your theory....are you familiar with Gresham’s Law?..
https://www.investopedia.com/terms/g/greshams-law.asp
Gresham’s law has little to do with this thread.
The article stated - the bars were all real/pure gold. Merely that a false mint name was stamped on them.
I said ultimately, it was not a major issue. Buyers of gold care that they are buying the element Au in pure form. The discount is otherwise minimal.
Then you mentioned something about selling the Brooklyn bridge - my response is: If you want to sell me pure gold at a discount merely because it has an incorrect name on it - I will happily buy it.
“The article stated - the bars were all real/pure gold.”
Yup..and you believed it!....I guess that was my point
Don’t worry, I can easily test any gold bars you will sell me.
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