Fake Silver and Gold Scams?

[ultrarunner]

Several I know got scammed or nearly scammed when buying Silver and Gold coins.

I did a little research and apparently US Silver Dollars and Gold pieces are now regularly counterfeited over seas and some fakes are very good.

Apparently the Secret Service officially has no interest in counterfeit US coins and focuses on US paper currency.

Hard to imagine the 1964 Kennedy Half Dollar Coins I was given are now $40 in melt value…

$20 US Gold piece is on the threshold of $5,000 melt value.

Be careful as scammers are out in full force.

 

[wilso]

Yeah, this is getting way more common. Some of the fake silver and gold coins out there are scary good now. I know a couple people who almost got burned buying what looked legit. With melt values so high, it makes sense scammers are all over it.

Same reason I’m extra cautious with anything finance-related. Even when I was just browsing IQ Option reviews, it was clear you really have to do your homework before trusting any platform or seller. Whether it’s physical coins or online trading, a little skepticism goes a long way.

 

[ultrarunner]

I think I have 3 silver dollars that are suspect…

Once I had a 100 bill that was off so I asked the bank who confirmed and promptly confiscated it…

I sold a trailer when I was 17 for $250 and received the 100 bill.

 

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[domin]

Thanks for warning. Just curios: where did they buy it? Honestly, stuff like this has been getting worse over time, especially with how convincing some of these sellers can be now. You really have to be careful when it comes to precious metals, because once money is gone, it’s usually gone for good. I’ve noticed that scams 2026 are becoming a lot more sophisticated, especially with fake listings and convincing backstories. A lot of people fall for deals that seem just slightly better than market price, which is exactly what scammers rely on. Best thing you can do is stick with verified dealers and never rush into a purchase. If something feels even a little off, it probably is. Better to miss a “deal” than lose your money entirely.

 

[RayIN]

I've wondered how long it would take for this to happen. I see a new company add selling gold/silver. Texasgold.com adds now..

 

[ultrarunner]

Thanks for warning. Just curios: where did they buy it?

Online I believe…

The seller is no where to be found…

 

[Hodado]

Several I know got scammed or nearly scammed when buying Silver and Gold coins.

I did a little research and apparently US Silver Dollars and Gold pieces are now regularly counterfeited over seas and some fakes are very good.

Apparently the Secret Service officially has no interest in counterfeit US coins and focuses on US paper currency.

Hard to imagine the 1964 Kennedy Half Dollar Coins I was given are now $40 in melt value…

$20 US Gold piece is on the threshold of $5,000 melt value.

Be careful as scammers are out in full force.

Yeah I bought some “silver” Eagles off eBay obvious fakes,got my money back eBay lets anyone scam and doesn’t regularly check buyer comments and remove dishonest sellers.Although they did refund my order after I kept after them,best bet is to buy from reputable dealer Kitco,Provident,Apmex,local shop that you trust

 

[Mtsoxfan]

When I bough silver dollars as an investment in 2016, I went through a reputable online business. Still sweated it out until I got them. Just sold a few months ago, nice profit, but not as much if I waited another month. I'm happy with what I got for them.
been selling off my long time silver collection to local collectors for their own collection. they are paying me a good price. Too many others are lowballing me, well below melt. Sold some rough merc dimes this weekend for $8.85 each. And he wants me to hold 115 more so he can come up with the cash. Not sure if my non silver coins are going to fetch much. Not that my collection is all that big.

 

[MountainBuck]

I've seen this problem growing as well and I think it is a huge problem now buying and selling just between people and not traditional gold and silver stores.

I even saw what I thought was a "fake" for sale at a pawn store.

With these stores getting a cut every time, I don't know why I would want to hold metals now at all.

 

[caver]

I watched some pawn shop videos months ago and he had this bulky hand held scanner. I think he said it costs about 20K ???