Has GoldSilver.org ever had a problem with counterfeit products?

Superlatives are a rarity in life and especially in investing, but one unfortunate law of life states that when a product, service or idea becomes popular someone will always be there to exploit the trend. This is especially true in the physical gold market. Gold’s decade-long rise has been paralleled by an increase in counterfeit gold bullion and rare coins.

Criminal organizations make millions by coating silver, lead or tungsten bars with gold because the average eBay-er will never know. Counterfeit gold coins are becoming a problem, too. Newer rare coin holders bear a tamper-proof hologram as well as a serial number that can be verified online but experts warn investors to deal with Better Business Bureau-approved companies only to reduce risk.

Many investors find out their “gold” is fake only when they try to sell. One Gold Silver client was offered bullion below spot price by another company. The offer should have raised red flags but the novice investor insisted that the company was legitimate and we never heard from her again. Years later, her family called us after finding our number with a list of coins. The woman had died and the other company was no longer in business. Gold Silver agreed to purchase all the metals but upon receipt of the package it was discovered that the woman had hundreds of fake gold bullion bars. The woman’s entire portfolio was worth only a small percentage of what it would have been worth had all of the gold been real, and the family was devastated. Incidents like this happen to unassuming investors every day and such crimes make it essential to work with a reputable firm.

Counterfeit silver is less of a problem because it is not as financially viable for the criminals. However, some gold dealers say that up to 50 percent of the junk silver bags in the United States could contain silver-less coins because no company has the manpower to hand-check every single coin. Many firms avoid selling junk bags explicitly for this reason and they advise individuals to look more closely at investment-grade items like Johnson-Matthey bars and American Eagle coins. Such products are commonly-traded around the world and are harder to duplicate.

Gold Silver works directly with the US and Royal Canadian mints to ensure that all bullion we sell is 100 percent authentic. Rare coin investors can rest assured that our team of numismatists and slew of testing machines weed out any counterfeit gold and silver products before they reach your door, and in the unlikely event that we come across a counterfeit item we can use our in-house digital catalog to determine how the product entered our vault. Thus the client is always protected and guaranteed to receive the desired investment vehicle instead of a knock-off. To learn more about how we protect our clients from counterfeit gold and silver or to speak with a gold and silver expert directly call us today at 1-800-394-3337.

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