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More Chinese Fake Silver

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This scam started the new year for the last umpteen years already. It is as flagrant as street vendors hawking designer purses for $10 in Manhattan. Banks and other corporations have to be on the take as well because it ultimately relies on electronic payments.

The internet is crucial to the scam yet it couldn't happen without the fake silver. It also couldn't happen without a complacent government.

These fraudsters are minting large medals and bars now. Therefore, a coin press or similar device, basically not the backyard DIY tool, is necessary. Simply, it has to be legitimate coin making presses.

The fraud could go undetected for years, a supposed silver slab sitting in someone's safe. By the time a few complaints bubble through the system the seller has closed down and opened another account. Check the feedback; it is almost always under 10 and comes from members in China.

This is a brilliant money-making scheme and it's being bankrolled by honest people! The naysayer will point to buyer protection programs. Those programs mostly work but the tiny percentage who report fakes don't make a significant dent in the commission fees, payment fees, currency conversion fees, listing fees, etc. It's a bottom-line expense that ultimately generates more revenue in the end so it's a wise business move, ethics be damned.

Ebay was sued in other countries for allowing similar illegal behavior. Purses, jewelry, clothing, and more. Total financial penalties neared nine figures. This could bear repeating in the USA, the I'll-sue-for-millions-burnt-coffee-lawsuit capital of the world.

Experts estimate 90%+ of the fake and counterfeit items originate from China. You can buy fake USA silver eagles and other counterfeit bars and rounds wholesale for pennies each! They are designed for one purpose and one purpose only. On popular on-line auction sites, it's best to assume every Asian-themed silver bar or round is a fake.

Some websites and internet selling venues are so overrun with fake silver that it is all but impossible to find real stuff amid the junk. Their search engines are usually sub-sub-sub-par so the results can't be adequately filtered. These companies don't do anything because their financial and business models are heavily reliant on all the fraud. Honest sellers and real silver have no chance.

We are just as creative in the USA, Britain, France, or anywhere else. Some countries have the greatest scammers hiding in plain sight: financial, energy (oil), big pharma and agriculture, war. Their rules don't always jive with harmonious existence. The casual reader will have to discover these things on their own.

Posted by M: March 25, 2017

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