Beware of fake bullion from private non dealer sellers. I have been horrified on several occasions, while perusing the internet, to find that there are a number vendors that sell so-called art bullion. These bars are fake bullion. They are clad in either silver or gold and look very much like real Bullion when they actually contain only a few milligrams. The majority of online vendors don’t try directly try to deceive the buyer.The real danger is the people that fraudulently resell or trade with the art bullion with full knowledge of the bullion’s fake metal value.
For example there was a guy on craigslist who was selling the bars as a great investment because he was selling silver bars at 5% of their value. Wow! what a great deal! NOT! Stay away from a too good to be true deal on bullion from craigslist. Another ridiculous and borderline fraudulent example of “art” bullion is the 2013 $50 Buffalo Proof from National Collector’s Mint. The proof is sold as a good investment with a solid value and potential for profitable resale when it contains about 60 cents worth of gold, about 14 milligrams.
If any of these terms is used when someone is selling bullion then become extremely skeptical and cautious:
Pure silver or gold
Replica or Copy Bullion
Also beware of Mini, Copy and Replica coins
I am trying to compile a list of known “fake” bullion as it were. Please comment with links to examples of the bullion so potential secondary buyers can increase their knowledge before they enter into a disappointing deal.
Disclaimer: The vendors who clearly label their products as not real are not being fraudulent. I am concerned about the people who buy the fake bars in the hopes of deceiving others.
List of “fake” bullion links/examples:
Example of Gold Maple Art Bar
Please be careful when you buy from private sellers who have nothing to lose in the way of personal and business reputation.