As I spoke about in my other post, fake Silver is out there and you need to be cautious of it. The old saying “If it’s too good to be true, it probably is.” could never be more true. So let’s talk about some of the ways to spot fake silver. This example will be mainly for the American Silver Eagle 1 ounce coin. You can get these specs for any coin you are looking to invest in at NGC Coin and several other sites.
Here are the specs for the US Silver Eagle from Silvercoins.com.
These numbers should match almost exactly with the coin you have. There are also other small details to look for when authenticating one of these coins. From the same site that brought you the above info, comes these tell tale signs of a fake.
In depth testing
Here are a few more ways to test your coins. The first and easiest is to check if it is magnetic. Silver and Gold are not magnetic so any attraction to a magnet and there is a good chance it’s a fake.
Another easy test is the ice test. Please DO NOT try this on numismatic coins as it will ruin the finish. Get a normal piece of ice and place it on your silver. The ice should begin to melt immediately, this is because silver is the best conductor of heat for all the metals.
The best way to know your silver is not fake is to buy from reputable dealers. For the US and Canada these include APMEX, Kitco, JM Bullion and Provident Metals. Some of the guys in our coin group in Europe use Silver-to-go.com as it is a VAT Free service.
If you’d like even more technical ways of testing your coins from specific gravity testing to X-ray fluorescence testers, you can find them in this article.
If you have any questions or comments please leave them below. If you have a coin you would like some info on please contact me on the discord server or below. Thanks for reading and rating this article.