Those Canada coins have a tremendous premium. Not so much when they first come out but when the bullion dealers are out of stock easily a much higher premium coin and very liquid. Canada has security features built into that coin. I do not recommend anyone shave or damage their coin. This will absolutely ensure you will never get a premium over spot from anu collector. A Sigma analytics precious metal machine is best when in doubt.
I like the acid test - it never lies. Plus I can fix the coin and get a nice premium price for the silver. One of the advantages of refining your own silver at home.
But it is not that terrible because he can make the silver shot and sell it 60% higher than cost. Besides he tought as a good lesson, sometimes what looks legit is indeed legit
@@sreetips My brain still can't fully comprehend that you "fixed" that coin into electrolyte and *poured* *it* . Into a metal bowl in which it will rematerialize into pure silver crystals along with the silver shot.
one tip I can give as a former buyer and seller on ebay is if they are in china odds are it's fake. they make a lot of fake coins in china using little or no precious metals.
China only buys gold and silver the last few years, i think they even ban exporting any of the silver or gold resources they have. i highly doubt that anyone from China is able to ship such items.
I think it is not necessary to damage such nice coin. Silver is unique material. It is virtually impossible to counterfeit it keeping right weight, dimensions and price. In this particular case it would be enough to take weight and dimensions. And then compare to Royal Canadian Mint specifications, available on their web site for this particular product. Gold bullions is completely different story though.
@@yuriyvakulenko not true. yes, damaging it may be going too far, but i melt metals, and I have brought fake bars in to my jeweler with real bars to see if he could tell the difference without cutting it in half..
@@jerrykingsley6703 there is no other metal with nearly same density as silver. So counterfeit bullion will have different weight or dimensions. Of course it is applicable only for standard products like this RCM Maple Leaf bullion.
when I buy on line metals, I mention that I am not buying their metal to keep, and that I am buying it to plate some parts in a higher standard, so, if you have questionable filled metals , that it would not be in their interest to send me that, but do welcome pure metals that may have dinks/dings/scratches, as that is okay, and I have always been handled great, and many are glad to have an avenue to get rid of their "blemished" metals to me, ans some even discount for the blemished or throw in a wee bit extra, for allowing the blemished sale...
Silver futures price has fallen so fast in the last 16 weeks that dealers who bought silver at $18 an ounce months ago are not going to sell it to the public at current spot price of say $12 + their normal premium of $1 to 2. The ask price is going to be spot + $7 to10 premium.
Because of the Nomenclature, I always get confused between the Ask & Bid price. I always have to look up the definitions, when I'm looking at Spot lol.
Hey sreetips! Didn’t know you served in the NAVY. Thank you for your service! We currently have two daughters serving now. One is on the Nimitz and the other is on the Truman. Great to your support!
How important it is to explain the divergence of the spot and physical price! Folks new to the market are slow to grasp the importance. I’m with you, precious metals are set for a rise for sure👍
Filing a genuine coin like that is considered a criminal offence in many countries. In the UK it was known as coin clipping or defacing currency and was a capital offence for several centuries (just a maximum of life imprisonment now). Other methods included shaking coins in a leather bag to obtain flakes of gold which could be recovered and the artificially worn coins passed on. One of the reasons bullion coins have very accurate official weight measurements available and very tight manufacturing tolerances. The milling at the edge of such coins was introduced specifically to detect tampering. The fine surface finish also makes the Canadian Maple a sought after collectors piece. So you have destroyed the coin as a collectors piece, reduced its' value to whatever the spot Silver price happens to be on the day and commited what is considered a capital offence in some jurisdictions, all nicely documented in a video. At least you won't have to worry about travelling anywhere soon with Covid19.
@@robin56rf78 he is right, whether common or not it is actual money and considered currency as it has a face value, therefore a criminal offence in destroying of state-owned currency
Keep in mind that as gifted as Sreetips is as a refiner, he is not a metals market analyst, nor commodities broker. $100 an oz is nearly double what the all-time peak was and that was a kneejerk abboration in the market based on the unanticipated downgrading of the US credit rating. Don't invest in metals based on lay opinions, and don't get suckered into paying well over spot based on hype. This is a prime time for speculators (I am not saying at all that Sreetips is one!) to manipulate people and create runs, and a lot of hype gets spun in these markets. Just be careful out there folks.
You are correct, nor have I ever professed to be. But you don't need anything more than common sense and mathematics to realize that these metals are going higher. Much higher. I'm in the right business, at exactly the right moment in time, with exactly the right instrument. What a ride!
A specific gravity test along with the paramagnetic test is definitive. You cannot have any fake silver pass both those test. It's non destructive. I wouldn't guouge my coins like that.
I gouge all my coins like that. I've got a whole roll of Morgan Silver dollars that I bought at a yardsale. Each one has the edge "gouged" so I could apply some schwerters to make sure that they were real. For me it's the only way to be sure. The acid don't lie.
If you're going to buy a coin, look up the original mint that made it. That will tell you easily if it's solid or clad. If you're going to file down an edge like that you might as well just melt it down because you're destroying the whatever value it has as a collectible or commemorative.
The first test without damaging the silver (gold) coin / bar is just done by using a strong neodyme magnet. pure silver (gold) is not magnetic at all, but silver (gold) is diamagnetic, which means: by moving the magnet near to pure 9999 silver (gold) you can observe the silver weakly reacting by very tiny movements. try it. it's fascinating. (magnet movements are obligatory for this diamagnetic test!)
I'm afraid that before silver reaches $100 an ounce, the entire economy will collapse meaning dollars will have no value to compare them with silver. Good news is, silver will still have value for barter.
Silver is still really quite cheap... there was a silver (and gold) mania in the late 70s and early 80s and silver hit its all time highs... when you consider the inflation for the last 40 years the price of silver would have been several hundreds of dollars/oz in today's money... so ~27 dollars isn't that much now when the industry demand for silver is getting higher and higher. In 2018 silver price was just ridiculously low
Liberty coin is solid. Tons of great, reputable dealers on eBay. I don’t use eBay anymore because of the tax that’s been added to all bullion sales. Best is to buy from private sellers. Subbed
you would think , by now, everyone would know CHINA IS COMMUNIST AND HATES THE US....... Only Stupid IDIOTS want to deal with China... Check out the video about how Chinese act on Cruise Ship, What a shame. or the chinese parents that beat their kids up and down the street......
Stay out of Wally Mart then, if you can force them back to the original business model Sam Walton built the business on the China will fail. Buy American, sell American. Good luck on that.
@Guodlca China has actively and aggressively been buying mining rights all over the planet. Not all rare earth metals are mined in China. The most recent discovery of an extremely large deposit of rare earth ore was made by the Japanese. They and China are fighting over ownership, that's the reason China is in the process of building islands off their coast.
Sreetips in your opinion how reliable would a density test be? 10 troy ounces of Silver = 311.035 g density of Silver = 10.49 g/mL V= 311.035/10.49 ~29.65 mL should be displaced
Local coin shops (if they have any left) are the best places to buy silver right now. My LCS is $2-3 over spot for Silver. I paid 1.75 over spot for a 100oz bar.
Can you tell us what seller on ebay you use to buy your nitric acid from.....and what the difference in use between urea and sodium bimetasulfite? Also a little more info on the safety side of refining.....ergo what's kind of gloves to use...eyewear...and so on...thanks...
Can this be ping texted? I love info, very valuable and I’m about to do my first refining in a couple weeks. I cringed on the destructive test. What are some other recommended ways to check? I would think a counterfeit that was not overly greedy could drill out a core and fill with tungsten. Take off 3-5 oz and still have it test good.
Interesting this Was brought back up by Google/RU-vid as the Silver price is currently going thru the roof, have to be more careful now the scammers will be out and about. Thanks Sreetips loving your work Sir.
Generally the density of brass is 8.4 to 8.73 g/cm3.. The density of silver is 10.5 g/cm3. Why ruin the numismatic value of this coin like you did when all you had to do was weigh it, and using water displacement determine the volume? You could have also determine the volume using the measurements of radius and thickness since the coin is a thin cylinder. The volume of a cylinder is given by the formula V = πr2h, and π is about the equivalent of 22/7 or 3.14. Make sure you have accurate measurements. Then take the density of the object X the volume to get a weight to see if it is brass or silver.
I used this density determination example in story problem, for a chemistry class that I was TAing for, back in 1986. I was trying to make it a real world applicable scenario.
White Rabbit Dog House. I am an American Girl and I have a lot of real silver listed on EBay. Selling fake silver is illegal and people not only risk being permanently banned from buying and selling on EBay, they can see jail time. Just because it is an E-Store doesn't mean the laws do not apply. Check seller stats. If they are lower than 100% then see what people say about the seller. Many sell cleaned coins or artificially toned coins. Always read the description. If they don't say exactly what it is, you can get completely refunded immediately as an "item not described" if they are counterfeiting, inform EBay about that. Trust me, sellers do not want to be banned from selling there. Find an honest seller, and most are, and stay with them. One love everyone.
I've been burned more than once! READ Very carefully and AVOID "German Silver", that is NOT Silver but they will sell it at Spot, when it is actually worth about 1/10th of Spot!!!
@@sreetips Thank you for pointing that out! It is too easy for people to see the word "Silver" and pay Spot+ for it! I wish more RU-vidrs that specialize in Silver and especially, Silver bullion, which is what it is usually sold as, did videos about it, Fewer people would get Ripped off. Sadly, unless you buy something, like on Ebay, you can't leave a remark on someone's listing. I know I've Tried many times, hoping that changes, so that I could WARN People!!!
Besides the weight, you need to check the diameter and the thickness. The quickest non-destructive test is using a strong magnet to see if the piece is diamagnetic. If it isn't, its not silver. I don't know how well this test works on coin silver or sterling. If you do need to file it to use the dichromate, the notch can be narrow - so less damage is done to the specimen.
One look tells me that coin is beautiful, I feel your pain tho , it is easier to sell 10 one oz than it is 1 ten oz . Ten oz bars or coins are what some stackers call the sweet spot !
Would you show us refining integrated circuits? I'd like to know how to grind them into powder, extract copper, tin, silver, and gold. The rest is landfill because no more metals in the powder.
Hello, I’ve worked with some escrap. Trimmed circuit card fingers and pentium pro CPUs. These are among the highest yielding of all computer scrap. That’s why I chose them. I’ve never tried IC material. It’s messy, low yielding and produces lots of waste that must be treated before disposal. For these reasons, I don’t refine much escrap anymore.
Can using a water displacement test be useful? I remember doing something like it back in Chemistry class. Looking forward to your explanation! Thanks in advance!
It is called a specific gravity test. Yes, it is useful, but a bit cumbersome. Most fakes can be detected by simply measuring the dimensions and weight - then comparing those to a known genuine specimen. A large percentage of the fake coins can be detected by weight alone.
Oh my, I suppose getting a Sigma machine you are at the mercy of the dealers. I bought a bunch of 10 oz bars from SGB One had been only 90 %!0 % copper as it turned out after made shot and changed the bar they would not stand by their own rules. Flippin low life eh !I can not afford a Sigma machine and do a lot of purchases with them as they are close by but I have video on the whole process showing something was not right Any of that company's higher ups can rot in hell with me looking down at them and pissing on their heads. Every one be else be aware, I hold a grudge ! and treasure my good name !
I'm not a rich man by any means. But I would love to have just one good looking crystal. Doesn't have to be a big one. Just to keep on my shelf to look at.
such crystal with a hole would be a great idea to put it on a key chain... Dan Hurd has such video where he visits a company that uses raw gold nuggets to make jewelry, they are awesome...
So this guy has been dealing, testing, and refining precious metals for at LEAST ten years, and he doesn't know what 'argent' means?!?! How?!?! Was that a joke? And why would you ruin a numismatic coin like that?
Good way to help silver fans protect them selves, I saw so many different types of fakes on Alibaba, even APMEX assay bars in yep. With APMEX stamped on the coin/bar ,999. 1 Troy oz gold "plated bar" identical to the real deal.. What kind of people do that, "crooked people". Thanks for the insight.
eBay price is higher than what you would pay had you bought directly from the dealer. eBay charges up to 11% and those fees are passed to the buyer. You get the best deals going directly to the dealers website and wire them money, or send a check. For example, a single 100oz bar from Scottsdale mint its $1537 on their website, but their eBay price is over $2000. Plus if you want quantity you can get them for $1476 on their website, but no deal for quantity purchases on eBay.
the dimensions of the real coins are online, all you gotta do is weigh it and measure the dimensions, no other metal will weight the exact 10 oz and with the right dimensions. Oh and with a little thinking , you can deduct that ARGENT means silver and PUR means pure in french, and i've never ever studied french.
EBAY is super sketchy, a colleague of mine didn't read the post on some gold coins - the prices were too good to be true - of course they were plated. It was explained waaaaaaaaaaaay deep down in the seller's posting. #watchout
After retiring from the oilfield in 2010....I drove a truck to see the country....picked up a load once....max weight at 47000 lbs......drove and could swear I had a full tall load....got to the Campbells soup factory….guy said break seal and back into door four....I opened the doors to an empty 53 foot trailer....there were 4 small aluminum ingots nailed to the floor!.....Can you make it that dense?......how small can ya make 47000 lbs of aluminum?
If the ingots were exactly 12 inches by 12 inches you would have needed just 5 sticks in your trailer that ran full length to weigh up to your 21 gross ton capacity.
Dirty Dave I'm guessing what you were carrying was tin ingots to coat the cans. Might look like Aluminium (Aluminum) but much heavier and much more valuable.
i mean....you dont REALLY have to damage the bullion right then and threre. the maple leaf has a really nice proof mark that takes a high high amount of machining to do and cant be replicated with plating. use a loop first before you go gungho into damaging a bullion
A quick test for silver uses its diamagnetic qualities, get a small neo magnet and put the coin at about a 45 degree angle. Let the magnet slide down the coin. Real silver will make the magnet slide slowly. Many videos on RU-vid about this and I have tried it many times myself. Plated coins don’t slide as slow. Sterling either. Also if you like precious metal there is a precious metal verifier available that tests with electro magnets. Very reliable. Can be pricy but can be found online for around $500.
I've never tried any of these tests. I learned from refiners to use the schwerters solution. When I first started refining I would take a small amount of metal and dissolve it then cement the silver on copper. That was my test to see if it was real. Then Harold_V on the goldrefiningforum.com told me to stop doing that and get some schwerters. Been using it ever since.
Awesome video as always but it was so hard to watch you file that coin it looked legit to me even though it was a 10 oz I've handled so many Eagles and Maple Leafs I can tell by the look and feel if they're legit but now there's so many better ways to test silver than a destructive test my local coin shop has an x-ray machine they will test anything for me even if I didn't get it with them because I have a good relationship with them precious metal verifier I believe it's called as much as you work with precious metal it would probably be a good investment for you. Good video
XRF - it only goes so deep. So a thick coating over copper or brass can fool it. I’ve researched the XRF. It was $1500 per week or $4500 per month to rent one. Plus a visit from local officials to ensure it’s going to be used properly. The device emits radiation.
@@sreetips I'll definitely have to check that video out and yeah for an xrf machine that's ridiculous I know u can get those Sigma verifiers for a couple hundred but they don't tell you what in it they just verify that it's real great videos buddy
Be careful when saving American dollars. Turns out they lost half their purchasing power and just a few short years... The $15 silver I purchased in 2018 Fortunately retained all of its purchasing power.
Marked 925? In my experience, about 5% of 925 jewelry is silver plated over brass or copper. I remember when I first started fourteen years ago, I had a real heavy chain bracelet about a hundred grams. But when I threw it in the melt dish it didn’t want to melt. So I pulled it out and sure enough it was copper. Made a believer out of me. From then on I test each piece with schwerters solution (potassium dichromate dissolved in dilute nitric) before i commit any silver for refining.
I have a question about "pure silver" coins made and sold by "we buy gold" shops... I saw a huge liberty silver coin collection at a shop and all of them had a rainbow patina across a section of front of the coin, looked like burnt spot. I have seen this on steel before, but never a precious metal. I even tried duplicating this by melting my own pure silver and pouring under intense heats, but never had anything but shiny clear silver produced. What could cause that?
@@sreetips 90% silver is probably the case, the buyers did not know how to read mint marks very well...everything was junk to them. But I had no issues making 995+ silver bars from it that sold to reputable dealer later...no burnt spots hahaha.
When people sell silver, there are a number of different options available. Spot price is the term used for a commodity if you were to purchase it physically right now. An easy way to remember this term is that it is the price for silver on the spot. In essence, the silver spot price is based on how much immediately delivered silver would be worth in a specified currency at any given moment. But because there is no single specific physical marketplace where people can bring their silver, the silver price is derived from the futures market using a formula that takes into account current interest and dividend rates and how many days until the futures contract is mature.
Tons of fakes out there. I generally stick to junk lots that have other things of value with coins and/or jewelry mixed in. Then I immediately do the magnet and acid test.
You said at the front of the video, you mistakenly bought 10 oz coin, thought it was 10 X 1oz pieces. By the end of the video you said " you bought it for the video to demonstrate testing " so which was it?
I actually thought that I bought ten, intended to demonstrate how to test on one. But I didn’t read the add correctly. I’ll be dissolving that coin in hot nitric soon - watch for the video.
No matter how much I’d like to sometimes, I just can’t buy metals on eBay. I have a reputable dealer that lives about an hour from me, and honestly, his premiums are just slightly over the JM, SD, on line stuff anyway. Plus it’s like a barber shop. You can get the skinny on a lotta what’s goin on from hanging around a bit. 😂😂😂😂
Watching this video for the 1st time, almost 1 year after it was made. Thank God, the divergence in spot and REAL price continues to expand! Thanx for making this vid btw, very informative and entertaining.
Hate to burst your bubble but silver goes up and down in price and has done for like a 100 years. Holding on to it and hoping that its going to go to like $100 an ounce is crazy. Buy and sell make some money sure but we will all be long dead before it hits $100 an ounce.
Spot price is the front month contract which just expired last Friday. The funds that wrote all those contracts will protect their interest by crushing the price and having their contracts expire out of the money for the buyers and they (the writers) capture the whole value of that contract. Now look for silver's next move higher in the current front month contract which would be April 2020. Doesn't have to be a big move yet but with all this "free" money being poured into the system I would expect it to expire around where most of the smart money wrote those contracts and gradually move higher over the year.
That world is completely foreign to me. I'm just an advanced beginner in refining who loves to look at that beautiful pure silver crystal. And maybe I can show Mrs. Sreetips a nice chunk of change before we depart the earth. 5000 ounces at $100 bucks an ounce is... Half a million! Boy would she be happy with me.
How might I know the difference between plated gold and gold painted? Does it matter what karat of gold there is for precious metal recovery? Where should I go to buy silver and other precious metals?
Hi Streetips, I know this is just an investment coin but it hurts to see you file it like that.. Wouldn't there be a different way, like weighing and measuring the dimensions of the coin? Did your friend's fake 10Oz coin actually weigh that? Then I assume it must have had like a lead core inside the brass to achieve the right weight and dimensions, which seems pretty difficult to fake (of course it's possible). I totally understand you doing it this way, I'm just wondering if there's alternatives.
I bought some silver dollars at a yard sale. First thing I did was file and test with acid. It's the only way I know to be sure you're not getting ripped.
Non-destructive testing by measuring the density is somewhat realiable, but not 100% - remembering the tungsten filled gold bars from China.. Thinking about how to measure the density of a coin sized object - it would take some glassware, but making a (small) pool that has a thin overflow channel into a separate container might be precise enough to give pretty close overflow of same volume as the object being measured is (touch of soap to break surface tension?). Weigh the overflow and calculate the volume from there, then weigh the object and see if the density lands where it should be.
The weights and measures should be available to verify this coin. But I prefer the acid test. However, the only way to be absolutely sure is to refine the metal in that coin yourself - watch for the video.
