Fake Silver Coin How to Tell

hello YouTube viewers welcome back on Street tips today what I have is a 10 troy ounce pure silver coin it's uh stamped on the back here 9999 fine silver and the reason I decided to do this video was with the price of the precious metals getting ready to take off there will be many who try to take advantage of silver buyers and maybe selling some fake silver bars so we're gonna do today isn't going to take a close look at this thing and analyze it with some processes that I have and just as a note here when I bought this bar I thought that I was buying ten one troy ounce Maple Leafs I didn't read the ad carefully and when I got it in I was very concerned when I seen this big coin instead of ten little ones and went back to the ad and realized that I had misread it so if you're online especially on eBay buying silver make sure that number one you buy it from someone you can trust that maybe you've dealt with in the past I bought this one place called Liberty on eBay I've dealt with them in the past and they're good to deal with and there are less likely to send out something that's fake but make sure you look at the listing and read it very carefully look at the people that you're buying from look at their feedback read those this guy has a hundred percent feedback this place called Liberty on eBay but I failed to do what I'm telling you to do I failed to look at the listing carefully thought I was getting 10 1 ounce coins when in fact I got this one large 10 ounce coin okay the reason I became concerned when I seen this is a while back the jeweler called me down to a shop he had a fellow down there that had bought one of these coins when silver was around $15 an ounce he paid $15 for one 10 troy ounce coin he thought he had struck a gold mine want me to come down and check it and make sure that it was real and of course I went down there the first thing I told him was if it sounds too good to be true then it probably is well what I did is uh I got my file out and I filed the edge of the coin down I got his permission to do it I filed the edge of the coin down and sure enough it was a yellow metal the coin was made out of brass and had been coated with copper and then coated with a thick coating of silver and he paid $15 for that coin and I I didn't even have to put the test acid on it I could tell right away and I showed him as soon as I filed into the mouth and I got down into the base metal and hit that brass I could show him that the $15 he paid was for about 50 cents worth of brass so the coin looked just like this it looked exactly like this you can't tell by looking at the coin you have to take the coin out of the case and analyze it and I'm gonna show you how to do that right now okay first thing we want to do is open it up sellers of fake stuff hoping that you can't do this they're hoping that you'll think it's a precious item which it is precious nice it's that you won't be taking it out of the case like I'm getting ready to do that here and here's our coin just beautiful nice-looking silver coin you see there it says four 9s fine silver ten ounces argent pure I'm not sure what that means so now what we're gonna do is we're gonna file into this and test it to make sure that we've got real silver sorry about my name being plastered everywhere I wish I didn't have to do that it's a pain in the butt ah but there are thieves will the upload my videos is their own creation so I've got a brand them alright I found a nice place right there on the edge of the coin and what I have here is some potassium dichromate that's been dissolved into luta nitric acid - aciem dichromate I bought this on eBay I think is about 25 bucks something like that and now what we're gonna do want to place a small quantity of this solution on the spot right filed if you look at the spot you can tell the metal is a white metal if this was fake the met that spot where I filed right there right there would appear yellow so here we go we're gonna put some testing solution on here and instantly we get a blood red test that tells us that this down underneath where I filed is pure silver metal I'm gonna put our coin up here on the scale now and see what we got for a weight on it ten point zero two zero troy ounces the weight is good all right we can put our coin back in the container now and just a little bit few other items here had a friend who knows I produce silver and he called me up the other day and he had thousands of dollars that he wanted to invest and wanted to buy him some of my server at $11 an ounce and I had to explain to him that $11 an ounce is the futures contract price the price that traders use to trade silver contracts not the physical metal the contracts and physical metal right now is up around between what fifteen to twenty dollars per troy ounce I paid $200 even including shipping for this coin but I had to tell my friend he was baffled he goes what you mean you won't sell me any silver at $11 an ounce and I said you know I'm not I'm not a silver trader I I would be considered a producer because I make the pure silver crystal it looks like this and I don't trade it and I don't like selling it I'm hanging on to all my silver because I believe there's gonna be a great rise in price of silver so but I had to explain to him that there's a different prices for silver there's the spot price which is used where the they trade contracts on these exchanges I don't do that then there's the physical metal price the price you're gonna pay if you buy the physical metal like I did here like I said I paid 20 dollars an ounce for this and then there's the premium price that we get by selling some of this pure silver crystal here and I don't have any for sale right now like I said before I'm I'm keeping all my silver I believe silver will be at least $100 an ounce in the future don't know when what happened might be next week next month could be next year but I'm not selling any of my physical silver right now I'm keeping a hold of everything that I got and let's see here what else did I want to say let me do the closing screen all talks a little bit more about a few things I want say all right as you can see the 10 troy ounce coin that I got from the Liberty on eBay is an authentic silver coin and now all I have to say about that is you can buy silver on eBay you just got to make sure that you're buying from someone that's reputable in this case I bought from these people before the Liberty and I trust down to send out the the right product when I order the silver a couple other things donations man one dude sent me a nice chunk of change me I appreciate that that really helps me to continue to be able to produce these precious metals videos and I just like to say thank you to everyone that has contributed it to my PayPal account thank you very much that's greatly appreciated I wonder to think I've been getting a lot of requests for people I have this I have that I have whatever that I'd like you to refine for me and I don't refine other people's material I only refine the material that my wife and I find at local sales I got some stuff out of my shop right now that someone brought me it was a roll of cellophane that was coated with gold and I've been working on it for four days now it's a huge undertaking it's tied up my resources tied up my shop and I'm probably only will get three or four grams of gold out of this if that and so uh I don't refine other people's material only the stuff that my wife and I find at local sales let's see what else we got here oh yeah the spot market price remember that the spot market price that the advertised on kit co.com is the price that traders who trade futures contracts in silver and gold and whatever other precious metals this is the price that they use and people do not take delivery of the physical metal they just trade the contracts and there's probably several hundred contracts for every ounce of silver and gold in existence and so uh the price that you buy the metal at will be the physical price the two have diverged the spot price and the physical price are two different prices you can't use the spot price to determine the value of your melon what you're gonna have to do is use the physical silver price I paid $20 an ounce for this and that's about what you can expect to pay although they'll be out there will be folks out there that can get it for fourteen fifteen and sixteen dollars an ounce I just wanted to buy this piece to make this video and demonstrate how to tell if your silver is actually silver or not that will conclude the video thanks for watching

Channel: sreetips

Views: 53,246

Rating: 4.7803741 out of 5

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Id: mbEoxGn0Y0g

Length: 13min 28sec (808 seconds)

Published: Sun Mar 22 2020