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FAKE GOLD & SILVER SCAMS

by: beeguy56( 55Feedback score is 50 to 99) Top 1000 Reviewer
1886 out of 1963 people found this guide helpful.
Guide viewed: 45438 times Tags: GOLD | GOLD COINS | BULLION | .999 GOLD | COINS


  Here's a scam that went good for me, bad for the seller! I was very lucky this time, this is a photo of the coin that was sold to me. I was told it was a 1 ounce, .999 solid gold coin. It is a Vietnam Vet Commerative, it's actually 27.1 grams and is 24 ct gold plate over silver alloy. There are no metal content or weight markings on this coin that you would normally find on a real precious metal coin or ingot. (such as: 1 ounce .999 gold)

I was the victim of a scam. I purchased a coin that was being sold as solid gold, it was a vietnam vet commerative. It looked like a great coin at a good deal, there were many other buyers of the same type of military commerative coins from this seller. I watched a bit longer, then I bought it. I didn't know it was fake until I received the coin, had it examined at a reputable coin shop and saw that it was under weight and had no content markings (.999 gold) etc... I contacted the seller who denied any wrong doing and continued to claim it was real, I then took action with the Internet Crime Complaint Center (www,ic3,gov) I called the seller and told him to issue a full refund or face prosecution. I did receive a refund within 10 minutes of our conversation. I still filed a complaint. The seller disappeared for a few months but is now back on and at it again. Fortunately I used PayPal to make my purchase, that is the best way to go. The seller no longer takes PayPal so now it would be more difficult to get your money back, he also keeps feedback private, this makes it difficult to recearch his items. Ebay policy prevents people from warning others of fraud but I feel that if a crime can be prevented it should, no matter what. I don't know why I am concerned about others, I guess it's just my nature. I hope all those who read this take note, precious coins and bars should normally have a marking that shows weight and purity content, if not, there is a good chance that what you are looking at is NOT the real thing! Be aware and do research, don't be scammed as I was. I found the same coins this seller was auctioning for about 6$, he would than resell those same coins for hundreds.  Thanks for your time, hope this helps.

UPDATE: Seller is no longer a registered user but, this doesn't mean he is gone, he can register under a new name, be carefull people!

 Happy shopping and good luck with your purchases!!


Guide ID: 10000000001003873Guide created: 05/28/06 (updated 07/31/09)

 
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Related tags: COINS | GOLD COINS | GOLD | BULLION | .999 GOLD

 


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