How to Avoid and Identify Fake Silver Products

by Michelle Smith, Silver Investing News:

Counterfeit silver and gold⁴ products are by no means a rarity, but in light of the recent commodities market crash, most investors have had other things to worry about. However, CBC’s late-April announcement⁵ that fake US Silver Eagle coins⁶ have been circulating in Hamilton, Ontario has brought concern about fake bullion products to the fore once again.

Constable Mike La Combe of the Hamilton Police Service was quoted by CBC as saying that high-quality fakes have been sold to various establishments, such as pawn shops, during busy times or when few staff members are working, “giving criminals the chance to sell fast without getting caught.”

The fakes are “silver and nickel⁷-plated … [but] when you cut them open, you can clearly see on the inside, they are brass filled,” La Combe explained. Unfortunately, it is not possible to tell the difference using just the naked eye.

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