Coin Shop Owner Shows Easy Silver Testing Tricks - PROTECT YOURSELF

can you show us how people could test a piece of silver on their own just a simple way without any special equipment buy your gold and silver online from SD bullion new customers get gold or silver at spot by visiting sdbullion.com new alright so I'm here at a new coin shop today this one's called Portland precious metals we're gonna go check it out see what they got hey good morning going good hey I'm silver dragons no dragons Mike how long you guys been here uh this location about three years okay and we used to be on 49th and division for maybe eight years before that oh wow so you've been you've been doing the precious metals thing for a while yeah since 2012. wow okay so you came in right after the peak it was on its way down yeah actually I think my first box of silver I bought for the shop back then I paid 32 an ounce wow right before it went down to 20 yeah to 18 and you know history tells you the rest I know well hey I want to see what you got in stock here sure yeah so you guys you got some poured silver you make this yourself right yeah that's our brand poured land can we check one out yeah here wow look at that word land I like that poured stuff yeah yeah me too this is a little cast piece he did yeah a little dolphin I think that's three to four ounces or so wow that's cool yeah yeah so you got that I'm gonna get tank here he's had a security what's up tank he's vicious guard dog got some treats in your hands uh so we got some coins here looks like he got a really nice selection a few Eagles down here yeah are people still buying the Eagles or what's the deal with those Eagles at this price uh not a lot completely how many we're buying and generally when people come in and want evenings yeah sometimes they talk them out of it oh really just because this too right now I want people to get good value a lot of people that are coming now mostly you know they watch YouTube videos and depending on who you like to listen to they're going to tell you buy Eagles or stay close to spot or right my name is Maddox everybody has a different opinion what your opinion is depends you know what information you're getting yeah well I definitely think buying closer to spot is the way to do it I see you got some rounds that's probably one of the cheapest things in the shop yeah yeah rounds are the you know 10 ounce or 100 ounce bars or kilos tequilas are pretty good yeah reasonably priced what do you what are you guys at for Rounds like if I wanted to pick them up today right now for over spots for new ones and I don't know maybe three if they're secondary Market wow that's an incredibly good deal honor we can sell them cheaper but we have to pay wholesale right we're limited okay so we just had like a ton of people coming out you're pretty busy Mike yeah yeah it gets pretty busy in here um comes in waves yeah well it's interesting because one dude was selling gold and another guy was buying like over 300 ounces of silver it was crazy yeah just in like the course of 10 minutes yeah I mean it can get pretty hectic in here um seems like they I don't know it almost seems like everybody's on the same wavelength and they all kind of Pile in at the same time totally dead and then they all Rush In Here usually lunch times when yeah well you guys have a lot of uh really cool gold pieces uh those proof buffaloes look absolutely fantastic have you had any um have you had any fake gold coming to the shop recently or yeah a week or two ago we had a fake gold bar come in really it wasn't that great of a fake it was we could tell just by looking at it was extra thick yeah I think it was a Perth um okay um a few months ago we had some some of the nice tungsten Gold Eagles come in really yeah but uh my employees spotted them right away right away I came in the capsules the guy was a little weird when he came in oh he maybe actually it only seemed weird looking back after we knew they were fake the way he was acting but he actually got busted he sold some down to a place in Salem about three times they bought these faces Wow Mike spotted them right away just just from looking but they were the good fakes they weighed good measurements were maybe a millimeter off so really close um no sound when you flip it really yeah yeah um and actually I did an interview with secret service because the guys in Salem knew who he was okay yeah they had all his info and they bought from him like three times hopefully they didn't resell them right but you know whoever the employee just didn't do their due diligence I guess that's crazy well there's so many fakes out there we've been seeing all these fake silver eagles I made a few videos on them somebody brought uh I think I saw your video was that a week or two ago yeah yeah somebody brought I think some of those exact fakes in the other day they had the missing read yeah but they were a little too thick but I mean I could spot them right away yeah they're not a real Eagle when you hold them in your hand and you touch them and you feel them you know when you've been doing it for over a decade I mean yeah I mean you can tell it's just gonna stand out especially you know if you have something it comes in a capsule or graded or maybe a bar that comes in the package you can't actually touch it and feel it right because you know gold and silver are elements they're metals you can't actually fake the metal you can fake the design but you can't fake the metal right exactly so um in my opinion a fake is really only has to be good enough until your money's in their hand and then you go home and you look a little more people do that all the time they call us oh can you come actually that's what happened with those ones that came in last week the guy called me hey can you test these she got them for about 30. each on eBay spot was 25 or six oh so I knew right away but when he brought him in that he brought him in a silver round tube I knew right away hmm Eagles don't fit in those tubes oh yeah that's true yeah so I could tell just from that I didn't even see the coins and I already knew they were fake wow um and the price he paid I'll pay you more than that with the spot where it was I would have paid him more so why would you nobody's gonna sell them for that price so with those fake uh tungsten Gold Eagles I've never seen them before um you just you you actually talk to the Secret Service about that I mean that's that's pretty big yeah well the guys in Salem asked me to because included it evidence for the you know so they can file whatever so it's counterfeit yeah counterfeit currency do you have any uh fake coins that we could look at that you've seen come in the shop over the years or yeah collect them yeah really yeah we've got a good amount got a little collection yeah 1921 peace dollar you can tell just by the sound it makes there yeah actually you can hear it I think I have a 1921 or two down here I thought I did oh yeah a real one go that's a 27. that's a pretty good fake there it is it's not bad uh if I had to guess it doesn't weigh but here's a real 1921. now be interesting to compare the sound [Music] yeah it sounds a lot heavier let me get my scale if you've ever handled silver dollars before right then you're familiar with that sound let's see how many ground [Music] there you go spot on and it's high grade so it's not uh you know shouldn't be missing any right any metal yeah no where yeah yeah that's crazy so yeah people bring in fake coins and all sorts of stuff huh you know I think a lot of the people trying to sell fakes that know their fakes maybe they try the dealers here and there but the dealers are the ones that know what they're talking about right so they're going to sell them on Craigslist or online Facebook whatever we had a guy come in a few years back where well his friend told us about it his friend bought here but he's trying to save on the premium about like 20 ounces of gold on Craigslist oh no totally fake oh no so you tried saving what do we make 30 40 bucks on an ounce of gold for a bar what did he say if nothing lost 40 Grand yeah that's terrible yeah just trying to save from the dealer making a few bucks which you know I mean I guess it is what it is but it's an expensive lesson yeah do you have any of those fake uh um bars this fake silver bar oh yeah yeah that's what I was doing yeah we got a whole bunch of stuff here oh look at this a nice selection of fake Eagles yeah I've seen these in the capsule I got some you know some type coins here some organs wow look at that these so these are just a bunch of things it's a decent fake actually I think that one's magnetic uh let's see yeah that's the right shape for a silver bar here's a uh but you can also tell by the sound that makes packaging is wow look at that yeah fake appmax bar yeah the packaging on that's pretty much spot on um but it doesn't test on the sigma yeah this bar is good somebody brought us some of those before the mint even released them really yeah The Fakes are out before the real ones are out yeah well that's kind of a dead giveaway right yeah yeah I knew I didn't even have to test them I mean they're not these aren't really good fakes I can't say I've seen a really good fake Eagle yeah if you've handled silver eagles then yeah they're pretty obvious there's a fake Sunshine now that one wow look at that that one is actually fairly decent because weighs right it does or at least pretty pretty close here throwing on there yeah let's see what the weight is on this so it should be 31.1 yeah look at that just the hair over but that's that's acceptable yeah they're not going to be spot on that one is look at that yeah wow the problem with that is that's the shape that this bar should be see the The Sun Shines and the silver towns most I mean there are some bars that are this shape but most of the bars real silver bars are going to have the more rounded Corners like that and be this shape right but whereas this one that's not the shape for sunshine it's more Square so you can just tell by the shape the shape you know when I'll get something like this in let me see if I could find it what I did was I yeah see I took a chunk out of it I don't know if you can see that yeah use my finger here you see that the yeah you can see the zinc right there that's crazy yeah yep fails the sigma yeah well there you go but these don't these actually they don't pass the magnet test or yeah they're not very good so what's the best way for people to avoid buying fake silver and fake gold what do they need to do buy from a reputable dealer learn the physical properties of the metal you're buying because they're like I said they're metal yeah you're faking the design but you're not faking the metal once again we had to pause because there's too many people coming in and out of the shop can you show us how people could test a piece of silver on their own like kind of an easy uh just a simple way without any special equipment first thing's the magnet okay so the rare earth magnet has a certain reaction to Silver and copper which will cause it to it's like a oh wow a little force field that causes it to slide down really slow yeah see it's really hard to shake off so copper and silver will both have these properties right yeah if someone has a cop or fake and it's plated in silver exactly it'll act that same way yeah see this one no silver in it slides right off I'll take it right off for this one hard to shake so this one is not copper or silver no it's probably zinc or some kind of Base metal okay so slides right off so okay now you got two equally sized rounds once copper one silver about the same size right yeah they both are reacting to the magnet now 31.1 grams exactly yep but this ounce of copper is only 28.9 so if you and it's still even a little thicker already yeah so if this were to be copper plated in silver and it passes the magnet because it's copper and it weighs 31.1 like silver should it's going to be too thick okay so you'll notice it visually by the thickness see they're about the same size roughly now 39 millimeters they both pass the magnet test if it doesn't pass the magnet test you're done testing right but if it passes the Magna test it's one of these two and if they're the same size and most products you can look on the internet to find the size so if this weighed 31.1 and was plated in silver it's going to be too thick right if it's the right size and plated in silver it's not going to weigh it can't be all of these things it's going to be you can maybe get two out of the three things the weight the magnet and the dimensions but you're not going to get all three because it would have to be silver but also four things so you got scale magnet and dimensions but also copper let's say it passes most of those or maybe you're you can't tell the thickness or the fourth thing would be the sound and I'm not sure if the microphone will pick it up copper is a much higher register for the sound where silver oh I can totally lower pitch much Fuller sound yeah so so the sound could be another test you could easily do four things right there yeah so if it if it has all of the dimensions the weight passes the magnet but it's copper copper just has a totally different sound yeah whereas silver this is a you know generic silver round let me take a buffalo these have the exact same sound they were minted in different places at different times by different companies they both sound exactly the same because they're the same dimensions and weight and size of pure silver or 999 well that's some great tips right there yeah you know a lot of people are going to wonder what you did to your finger so maybe you should let us know some people on our YouTube channel uh we have a YouTube channel uh Portland precious metals um some of the commenters like to say don't cut yourself again but uh actually I I slammed my safe door on the finger there as bad as it sounds but it's getting better oh well that's good to hear it's improving yeah I cover it to save here your eyes well uh you know what we'll put a link to your uh YouTube channel if people want to check you guys out we'll put a link Down Below in the description you guys have like uh something with your uh information on that we could show people sure yeah giving out too many cards just because business is crazy but yeah we just haven't had enough time my sister's supposed to be designing me you know I think yeah well hey I really appreciate it thank you so much for coming in yeah you've got a great looking shop um a lot of stuff in stock so hopefully people will come check you guys out thanks yeah portlandpreciousmetals.com we gotta say goodbye to it was it tank buy tank take care thanks

Channel: Silver Dragons

Views: 159,893

Keywords: fake coins, fake silver coins, fake gold coins, coin shop, coin dealer, coin store, coin appraisal, getting coins appraised, investing in silver, investing in gold, silver price, gold price, silver stacking, silver investing, buying silver, coin shop owner, bullion dealer, local coin shop, silver coins, silver bars, silver rounds, gold coins, testing silver, how to test silver coins, how to test silver, counterfeit silver, coin shop video, gold, precious metals, coins

Id: kiImyuTfOJE

Length: 16min 24sec (984 seconds)

Published: Sat Jun 03 2023