Categories: Many
Word count/read time: 394 words; 2 minutes
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.
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
Please email any thoughts or comments regarding this post.
Comment Section
NOTE: Your comments will be included in this section
as long as they aren't illegal. This section is censor-free so show me
your intelligence or ignorance and everything in between!
|
2025
In a Pickle
Weird Silver Items
Stop, and Think
What's a Mentor for?
Organic
Pass the Torch
Four Fs of Jewelry
Those Are Nice Dimples
Yes, I Have Some
Good Deals
Transportaion Issues
Spining in Circles
Top Purchases 2024
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
|