China Counterfeits ALMOST Everything! Be Sure and Purchase your Gold and Silver Coins, Bullion, and Jewelry from REPUTABLE Dealers
At Texas Gold and Silver Buyers of San Antonio, we have an advantage that most consumers and competition do not have. We are lucky to have invested in the Olympus Gold Xpert XRF X-Ray, which gives us the ability to professionally and accurately verify and test most items. Not only does this allow us to buy Jewelry, Coins, and Bullion with zero doubt of the quality or purity, it also allows us to pay our customers absolute TOP DOLLAR for their items. The reason this allows us to pay top dollar, is many times the acid test can be inconclusive, and many other buyers will take a gamble and still buy your item. But unfortunately in most instances their offer goes way down, on the fact they are taking a gamble with the inconclusive results the acid test may be yielding for them.
The common theme we are seeing recently is Chinese websites such as AliExpress or DHGate are actively allowing and encouraging Chinese Counterfeiters to sell Fake Bullion, Coins, and Jewelry on their websites. They are even faking the slabbed and graded coins that PCGS and NGC certify here in the United States. The counterfeiting is just getting better and better, PCGS and NGC are EXTREMELY REPUTABLE companies, who certify and grade coins, but they are losing their battle with Chinese counterfeiters reproducing fake coins in their trademarked slabs (Plastic protection containers for coins including certification numbers and grades of the coin). People knowingly buying these to scam gold buyers and consumers cringe when they walk into our store and meet our XRF X-Ray. They quickly want out the door, to move on to the next buyer who does not have the testing capabilities we have. We also get consumers honestly looking to sell an investment they made, but more times than we would like, we have to inform these honest customers that they have been sold a fake.
The Chinese have figured out how to coat worthless metals (such as nickel, copper, or tungsten) with enough gold or silver on the outside, to pass a standard acid scratch test. They are doing this with Coins, Bullion and Jewelry. We suggest to NEVER order from a website that is based in countries such as China. Please only do business with REPUTABLE, WELL-KNOWN Companies in the United States. I am going to include some screen shots giving examples of where this junk is coming from, and how easily available it is. Customs does their best to intercept these illegal and immoral shipments coming from China, but unfortunately they cannot intercept them all. Possessing counterfeited U.S. Currency is a Federal Crime, and handled by the Secret Service.
We aren't the only Gold and Silver Buyers here in San Antonio, Texas that have been alerted to this scam. Unfortunately many have learned about this the hard way being stuck with a worthless piece of metal they just shelled out thousands for. So many customers are coming to us with REAL Gold and Silver Coins, Bullion and Jewelry, and are reporting to us, that other gold buyers are refusing to buy their items unless they can scratch them, or cut them in half. Understandably, most consumers are not willing to do this! This could dramatically reduce the value of your items! We do not have to do this in 99% of instances. We use a harmless Xray test that is dramatically more accurate than the acid test, and of course leaves your item in the exact same state as it was in, when it walked in our door.
Some may be wondering.... "Well why are you advertising where to go get these fake items?" Well we look at it different. The crooks on to this scam, already know about it and we are writing this educational blog to help assist our honest customers and future customers on avoiding being taken advantage of when buying Gold and Silver Jewelry, Coins and Bullion. At Texas Gold and Silver Buyers, we do not like having to inform honest customers they were taken for a ride, when they were getting that heck of a deal on that 1 oz. Gold Coin, they are now looking to sell since Gold Prices went up. We also have no issue advertising to those who may be reading this and were considering coming to us to sell their knowingly fake items, that this is the WRONG PLACE to attempt that. Bottom line, PLEASE do business with reputable, U.S. based companies. There are many reputable online companies, as well as your local reputable brick and mortar dealers.
Thanks for stopping by our blog. My name is Evan and I am the owner of Texas Gold and Silver Buyers in San Antonio. From time to time I will post blog entries to help educate and inform our customers and potential future customers on all aspects of Precious Metals (Gold, Silver, Platinum & Palladium!)