Coin Collectors

[Mike 1017]

One of the coins that I collect is the 1oz Silver American Eagle. I check E-Bay once in a while. I would never buy any coins from E-Bay.

The spot price of 1oz of silver is $31.74. A few of the sellers have the coins listed below spot. Example $24.98 free shipping. Another one is $28.46 or best offer free shipping from China. The Chinese one could be a forgery.                                                                                  Why would anyone sell below spot?

Comments Welcome

Mike

[Old Buckaroo]

Chi'na is notorious for faking silver coins / troy ounces.  

Ive been a collector of silver since the late 80's as the companies I worked for you give it to you for a safety bonus for no lost time accidents.  When I was working in NE Washington state there was a coin shop in Spokane and they had a five gallon bucket that was about 3/4 full of "fake troy ounces" they left that out as to detour the thieves that might break in thinking they would steal that instead of trying to get into the vaults.

The coins/ bars would have a silver coating and junk metals on the inside.   I have a friend here in Montana that has been buying the "Buffalo rounds" for about $10.00 less than spot. They are about 2mm bigger around and 1mm thicker.  He says I'm a fool for buying at a reputable family owned coin shop as I'm paying more than he is, as his coins are bigger - even though they are identical to mine but the size difference.  🙄

Remember - real silver coins, troy ounces has a distinctive ring when dropped on a solid surface (like three inches above a table)

Edited February 27 by Old Buckaroo

[1930fordpickup]

Could be as simple as to get your address and they are selling hot items. 

[Mike 1017]

On 2/27/2025 at 9:57 AM, Old Buckaroo said:

Chi'na is notorious for faking silver coins / troy ounces.  

Ive been a collector of silver since the late 80's as the companies I worked for you give it to you for a safety bonus for no lost time accidents.  When I was working in NE Washington state there was a coin shop in Spokane and they had a five gallon bucket that was about 3/4 full of "fake troy ounces" they left that out as to detour the thieves that might break in thinking they would steal that instead of trying to get into the vaults.

The coins/ bars would have a silver coating and junk metals on the inside.   I have a friend here in Montana that has been buying the "Buffalo rounds" for about $10.00 less than spot. They are about 2mm bigger around and 1mm thicker.  He says I'm a fool for buying at a reputable family owned coin shop as I'm paying more than he is, as his coins are bigger - even though they are identical to mine but the size difference.  🙄

Remember - real silver coins, troy ounces has a distinctive ring when dropped on a solid surface (like three inches above a table)

Old Buckaroo, I only buy from legitimate, certified coin dealers and of course, from the US Mint. Culls are another way to accumulate silver coins for spot value. As far as your friend goes, he needs to get those coins evaluated at a dealer or pawn shop.

My dad left me and my brother an ammo box full of silver coins when he passed.