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The E-Sylum: Volume 16, Number 6, February 10, 2013, Article 15

FAKE SILVER BARS OFFERED ON EBAY

Dick Hanscom writes:

Fake Sunshine Mint Silver bar The plated or clad bars have been on eBay for a while, but I had not noticed one that is blatantly copying a known product. I have dropped an email to Sunshine, but they have probably seen them.

My question is this: Where is our government, who protected us against the "Liberty Dollar," when there are people out there selling products like this? While they state that they are plated, once sold into the market, the level of fraud is unlimited. Many do not say plated or clad on the bar, leaving the next buyer to think they are getting the real thing.

I know we have purchased a couple of items that weren't this good, just by not paying attention.

Can something be done under the hobby protection act? Can ICTA do anything?

Good question. I wasn't aware of these. It would make sense that they would have to be marked as plated, and in this case, Sunshine Minting ought to have a copyright on their design. ICTA is the Industry Council For Tangible Assets, the national trade association for the rare coin, currency, and precious metals industry. Below is a link to their web site - I would encourage E-Sylum readers to contact them. -Editor

To view the complete eBay item, see: 1 TROY OZ .999 FINE SILVER PLATED SUNSHINE MINT EAGLE BULLION BAR Proof Bright! (www.ebay.com/itm/390531451669?ssPageName=STRK:MEWAX:IT&_trksid=p3984)

To contact ICTA, see: www.ictaonline.org

Below is one web page I found that discusses the fakes and how to detect them. -Editor

In 2012 there has been an increase in the amount of fake silver hitting the market. A lot of this fake silver seems to be sold through e-bay and other online marketplaces.

Historically silver has been fairly safe to purchase in one ounce weights, as the price of silver has meant that counterfeiting coins and bars has not been worthwhile. However now with the silver price steadily above $30, there is much more incentive for scammers to produce fake coins and bars.

Recently I was duped myself and purchased two 1 oz silver bars through e-bay which turned out to be fake. After this experience I am much more cautious now about where and who I buy silver from. This hub explains some of the risks and precautions that you can take to avoid falling into the same trap as I did of buying fake silver.

To read the complete article, see: Fake Silver Bars and Coins - Buyer Beware! (theeyeballkid.hubpages.com/hub/Fake-silver-bars-and-coins)

Wayne Homren, Editor

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