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More Chinese Fake Silver
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This scam started the new year for the last umpteen years already. It is as flagrant as street vendors hawking designer purses for $10 in Manhattan. Banks and other corporations have to be on the take as well because it ultimately relies on electronic payments.

The internet is crucial to the scam yet it couldn't happen without the fake silver. It also couldn't happen without a complacent government or few.

These fraudsters are minting large medals and bars now. Therefore, a coin press or similar device, basically not the backyard DIY tool, is necessary. Simply, it has to be legitimate coin making presses.

The fraud could go undetected for years, a supposed silver slab sitting in someone's safe. By the time a few complaints bubble through the system the seller has closed down and opened another account, new bar designs in hand.

This is a brilliant money-making scheme and it's being bankrolled by honest people! The naysayer points to buyer protection programs. Those programs mostly work but the tiny percentage who report fakes don't make a significant dent in the commission fees, payment fees, currency conversion fees, listing fees, etc. It's a bottom-line expense that ultimately generates more business, ethics be damned.

 
They are designed for one purpose and one purpose only.
 
Ebay was sued in other countries for allowing similar illegal behavior. Purses, jewelry, clothing, and more. Total financial penalties neared nine figures. This could bear repeating in the USA, the I'll-sue-for-millions-burnt-coffee capital.

Experts estimate 90%+ of the fake and counterfeit items originate from China. You can buy fake USA silver eagles and other counterfeit bars and rounds wholesale for pennies each! They are designed for one purpose and one purpose only. On popular on-line selling sites, it's best to avoid any Asian-themed silver bars or rounds.

Many companies, people, and anyone involved in the jewelry trade get findings and whatnot from overseas. Production costs are lower but you will not get real sterling findings for less than the spot value of silver. You'll have to ignore the fake hallmark as well. And the necklaces, bracelets, rings, anything at all.

Some internet selling venues are so overrun with fake silver that it is all but impossible to find real stuff. Their search engines are usually sub-par and the results can't be filtered adequately. These companies ignore the problem because their financial sovereignty depends on it. Regular sellers and real silver are drowned out.


Posted by M: March 25, 2017


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