While everyone seem to be involved in a Gold Rush Silver has been steadily growing in worth .
Although Silver is still growing in value it will probably continue growing in value.
One investor tried to corner the market in silver but was eventually thwarted.
Scams on Gold Coins
when buying or selling gold coins,look out for gold coin scams
Selling - when you are selling a gold coin (or coins) how do you know who is bidding on your coins?
Usually you cannot.
Ebay has a problem here in that they want to avoid direct selling between buyer and seller and then they lose their commission.
So they try to keep buyers details secret.
You on the other hand want to find out if they buyer is real or is using a stolen ebay account.
(I had this happen to me with a gold bracelet)
First thing to do is check the LOCATION of the buyer from their ebay about me page.
Thieves usually choose to use a stolen account from a different country.
First thing to do is to write to a successful bidder asking them to confirm that they have actally made a bid !
You MUST do this through the eBay communication system.
When this happened to me the buyer was in Manchester England but the actual owner of the account was in Australia !
She was very surprised and we cancelled the transaction.
The thief still went ahead and made a bid on the same item again when I re-listed it ! He was subsequently banned from eBay of course.
Moral of story -
ONLY send valuable items AFTER you have checked that the buyer has made a bid and ONLY send them to the PAYPAL Address.
If you fail to do this then wave bye-bye to both the goods AND the money (as Paypal will deduct the funds from your account too)
Then you will lose out twice.
When BUYING on ebay make the same checks in reverse.
the Seller MUST be in the same location as the Paypal address (people steal Paypal accounts too !)
If you fall for this scam then you also risk the thief stealing YOUR eBay and Paypal accounts too.
Just be careful out there !
One simple scam that was tried on me in Paris last week in one of the passages (rows of 18th century shops)
A fairly pretty girl aproached me grasping a gold ring - she claimed she had just found at the entrance to the street - I congratulated her (in my best French) and suggested that as she was having lucky day she should buy a lotto ticket !
This scam is fairly simple - the ring is offered to you for 10 or 20 $ but it is not the ring you end up with.
The Girl switches rings on you and you end up with a brass ring !
I've seen the same con worked all over the world.
Most scams on gold coins operate on a similar basis - you are offered an impossibly good bargain - and you end up with the equivalents of a brass ring.
If it looks too good to be true - it almost aways is !
That is the basis of all scams on gold coins (or gold rings !)
One of the other things to lok out for is expensive gold coins being sold on a PRIVATE SALE (this is where the public cannot see the identity of the seller or the buyer.)
I would personally avoid such auctions as there is no practical way to idenity the seller without a good deal of time and trouble (scam artists motto is usually take the money and run - so they will not even be there when you eventually get their addrss !
While the sellers say that this is to protect the buyer (and to a degree that is true !) in actuality the seller is even more protected.
articles expanded on the same theme
http://greatgoldcoins.net/nazi-fake-coins/
http://greatgoldcoins.net/scams-on-gold-coins/
http://greatgoldcoins.net/identifying-fakes-and-forgeries/ The following are genuine auctions from ebay !
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US $319.00
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Filed under Fake Coins, Scams by on Apr 17th, 2010. 1 Comment. 
