He Lost $1000's! - Viewer's Dad Loses BIG Money on Fake Silver and Gold Coins!
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- Опубликовано: 10 сен 2024
- A viewer of mine reached out about some Fake "Tribute" Silver and Gold coins that his Dad bought over the years so that he would have something to leave his kids when he passed away...
This is one of the saddest collections I've ever seen... let me know what you think down below!
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He Lost $1000's! - Viewer's Dad Loses BIG Money on Fake Silver and Gold Coins!
• He Lost $1000's! - Vie...
#fakesilver #fakegold #silvercoins #goldcoins
NOTE: I didn't pay too close attention to the Quarters... wrong year, and wrong image for the DC quarters LOL! This is what happens when you just record unscripted... oops! You Rock!
The 1776 coin silver round is real its marked on the side one oz .999 fine silver. I have that one. Although it could be fake im guessing its real mine is
It’ll say copy on it to but it does check out as real on mine
Here we are, feeling like suckers for overpaying a couple of bucks on a premium. Selling copy coins is still wrong, the sellers know how ignorant people are, and will take advantage of them.
There's no 51st state bro. Lol
@@oldscoolcooldiecast1879 Still Sad for you.
I am 76 and seen these things before. But, thank goodness that I know better. I have seen these things in several of my veterans books. To abusing the elderly is like taking the advantage of a child..
Yes it is , it’s just not right these cowards are getting away with this
To a degree
Buyer beware! The only way to fix ignorance is with education.
@Ole Dog I agree that the old fashion education and the life experiences that we received was very helpful and knowledgeable. If we got to the 8th grade, we were lucky. I don't know about the indoctrination schools of today...
@johnbethea4505 I've done quite well with a computer science degree from '75.
It's still a scam. It actually made me sick at my stomach hearing such a sad story. I feel something legally needs to be done to prevent such deceptive practices!
It IS STILL A SCAM just as you said. I have a silver coin that says "copy" as well but it also says .999 and tests as such. These people scam people by taking advantage of their trust. There is no longer any difference between Americans and the rest of the world. No integrity!
They sell this stuff cheap. And are very clear with what it is.
@@charlesdudley5800 The point is they use deceptive words to describe their products. Layered instead of coated or clad, and the amount of gold or silver contained are very briefly mentioned and then switch back to describing the real one.
@@richardmetcalf2346 Wrong! Just got some of there advertising in the mail just a few min ago. They have CLAD written all over this little pamphlet. So tell some more lies. What I will fault them for is them trying to sell Eagles for 49.99. And if anyone is dumb enough to pay that price it's there fault. No one elses!
@@charlesdudley5800 I was referring to the ones in the video. I have no idea about what you have in your hands. Not all are the same! And I don't appreciate being called a liar. Sence Seeker pointed out the same thing. Is he a liar too. Watch the video!!!
Seeing this video and it's subject matter absolutely broke my heart literally into tears for my dad did the same thing. There are no words for the sadness for knowing how my father was scammed.
I'm soo sorry 😞
Where were you when your father was being scammed? Also if you did know he was being scammed, why do you think he'd even listen to you?
Many people are greedy or have delusions of grandeur. They're going to do what they're going to do. Look at lottery tickets... There are scams all over.
My ex stole my stack, i had not known until years later. I was saving for my kids and grandkids. So sad.
@@AngelEyes-xm7elStill in contact with them? I can’t imagine the feeling!!!😢
😢😢😢😢I HATE THIS WORLD WHY ARE PEOPLE SO GREEDY WHY CANT WE GET ALONG!? Im sorry that happened God bless you!❤
Those companies and their owners should be in jail at the very least! Burials would be even better!
Agree. Skunks
There's a special rung in hell for the people perpetrating this.
Agree. Even some of the 'legitimate' online dealers that sell real silver use questionable sensational headlines and fear tactics to get people to make a purchase. It doesn't work on me. But there are people that will bite when given the chance.
Even if it's not technically illegal, the practices being described are absolutely fraud in my view if true. As people age, it's very common to lose the ability to think critically. That's why we always hear about the elderly being taken advantage of. Setting up marketing in such a way that deceptively takes advantage of that is wrong. Younger people can easily say "Oh I'd never fall for such a thing" but biology can catch up to us all and who knows what our faculties might be like as we age. Thanks for raising awareness of this, both the sender and Seeker.
Life pro tip.. people are trying to take advantage of you before you're even born...
Like my own father who, when my mother passed, re-married a woman and her 4 grifter kids who left him broke then put him in a cheap nursing home where he died shortly afterward. Any attempt to persuade him to drop them and come with me was met with hysteria by all parties. When he passed they cleaned out his remaining personal possessions (they had already drained his bank accounts and other securities). So the grift is real. Luckily he and my mom put me into a living trust with their home so I did inherit that from them. The grifters tried to persuade me to sign it over to them several times throughout the years of their reign but I resisted, knowing to do so would doom him to a nursing home even sooner. When he passed they even tried to get me to pay them $48,000 for 'taking care of him'. Sicko's out there. And even though I knew they were up to no good there was little I could do about it. Preying on the elderly is evil.
It just breaks my heart to see that so many people have been scammed by these companies. Just think how much better off those people would have been if they had just bought an Eagle or two instead.
I am glad my parents know their metals. I feel so bad when I see those adverts because I know somebody somewhere is falling for it.
Its a shame the site and company still exists and sells mostly the same stuff, they do also have real gold coins I saw like a 1/10 eagle with a higher premium of course than most online coin dealers...
Agreed
So very sad that ppl get taken like this. 😢😢
The sad thing is that this suspicious company does sell a few overpriced real coins with mostly clad junk. If you ask me, this should be illegal.
Not just the old people get scammed by coin dealers. New beginners also. Always do your research
#truth
Its nice to know you are going to send him the real silver back. As always, great video; but a sad subject. I really feel for elderly people who fall for this, I really don't understand how that isn't deceptive marketing, especially when these companies usually are advertising it as "on sale" 24/7/365.
None of it was real so he's not sending him any silver back unfortunately
Like every jewelry store always has their jewelry on sale at 50% off!! year round!
It's not just the elderly getting ripped off, all the fake stuff on Chinese websites looks like the real deal, packaging and all, I wonder how many unsuspecting collectors have been fed these fakes by criminals.
I don't care how naive the person was that person was trying so hard to leave something behind for their kids this is the saddest thing I've ever seen in my life
My Dad - may he rest in peace, asked me (before he bought) - about one of the TV offers that talked about the .999 fine silver price but were clad in 14mg silver. I'm so glad he did but he still gave people money from USPS mail scams.
Those would be cool to use as a decoy stash of PMs, while your real PMs are put away safely somewhere else.
I’ve tried several times to report them on Facebook but Facebook doesn’t see the problem
its a shame its a hustle its praying on the vulnerable unfortunately it happens everyday thank you for the video feel bad for the dad u know
Another issue that feeds into this issue is that many people look for things that are too good to be true . If they weren't so ' cheap ' and always looking for something for nothing they might not fall for these scams .
Not everybody is like that. The generation being targeted is used to "affordable". Nobody in the media has mentioned METALS in ages up until recently. The generation before the "boomers" are not likely even aware that gold is near $2,000. Last they heard it may have been $2-$300 or less.
@@TEXAS-SMITH They know nothing, these people dont even know what gold is?
Yep, too many people think they're somehow going to be the ONE to get the impossible deal. Expect to pay the full cost and a premium.
Thanks for the heads up SS. Good job brother 👍
This is messed up I feel bad for his father for getting mislead.🤦
At least the guy who bought these worthless pieces had the good idea to get silver and gold. Thats better than a large percentage of people. Now did he think he was getting a great deal? A lot of people think they are really smart when they really are not.
I went to their site. I picked a .9999 gold coin. It said it had a "full 200 mg of gold." I think the amount was just under $40. As of today's date, Feb. 18, 2023 with gold at $1842.98 that coin is valued at $ 0 .09. NINE CENTS. I sure hope this comment stops fakes from taking YOUR money.
If its a commercial on TV, or an ad in the paper its ALWAYS a scam. Actual bullion dealers don't advertise in those places.
I have that they push this garbage on the unsuspecting. I appreciate you calling out these companies. I wish more folks would. Thanks!
It's not garbage ! it's a highly valuable collectible copy with very little intrinsic value
Another video with excellent information for all of us stackers! Thanx & keep 'em coming!
I’m disgusted by the deception these coins represent.
Maybe its not illegal to trick people BUT IT SHOULD BE ! I'm glad he never knew they were fake before he passed.. The poor guy was trying to do something nice for his family and some SCUM took advantage.. PURE EVIL
Not scamming anyone,how about pay attention to what you buy?
@@JoeBidensUnderwear Stephen Watkins Why don't you pay attention
@@JoeBidensUnderwear Call it what you like, but it's very deceptive selling what looks like .999 silver anything and then putting "clad" after it on the coin when almost no one who these coins are marketed to knows what "clad" even means. And then using words like "authentic" to describe them to further confuse buyers. Very deceptive on their part, at the very least taking advantage of older people like that. Come on man!!
@@JoeBidensUnderwear you hit the nail on the head. Greedy people, or people who have ideas of grandeur just buy stuff and don't research it... What's even worse is on the internet you can get false reviews, or echo chambers of other victims claiming it's not a scam.
Car dealers or any other business will take advantage of uninformed people.
It sucks that he intended to leave his kids some wealth and he gets screwed
He probably never talks to his kids and his kids probably never talk to him... He likely never mentioned this to them either.
People will do what they want to do with their lives. I know somebody who took a small fortune and wasted it away and at their funeral the only thing I got was a hat 🤠... It was a good lesson to me that you need to be on your game and not let people take advantage of you.
Scam artists run rampant in our world
In the old days, counterfeiters and those who used fake weights got a stake up the azz (Vlad the Impaler style)...we should bring that back 😎
@@EroticOnion23 --NOT counterfeit; clearly marked COPY!!
Thanks for sharing, I tell my family members facts they don’t want to know about metals for this type of reason.
What a scam company, instead of 200% up charging standard proof rounds from a bullion dealer they had to get use cheap copies. I see similar tactics in luxury watch markets when granddad’s Rolex turns out to be a copy from 15yrs ago.
I am older and retired myself but it always surprises me how naive some people are.
Him struggling to get those coins out was making me anxious 😅
Same lol
This upsets me , I want to visit these evil people that take advantage of our old people and take a cricket bat with me 😞
Heartbreaking, a friend of mine was ripped off big time by a LCS, he bought 1 ounce gold coins which were clearly clad and not real. I told him but he just couldn't believe he got ripped off.
Well if the LCS presented it as real gold 1 oz coin.
He might be able to sue?
Especially if they sold it to him an exorbitant price.
Terrible
Really pisses me off seeing this.
Thanks Seeker....keep spreading the word.
Thanx for the video, I used to run a store and hated telling folks what these tribute (novelties are) Good news is National Collectors Mint sell most of those tributes for 14.95-19.95 Bas but he didn't pay big big bucks like they were real.
I just bought my first counterfeit silver eagle. It looked like a good deal ( on eBay) and the picture was of a real one but what I got was totally wrong font for the year and the quick specific gravity was wrong. I generally only buy from known bullion dealers but this really looked like a genuine coin in the ad. Fighting with eBay now to get my money back so buyer beware there.
Most of those sellers are Chinese, with Chinese shop names. Avoid them
my great aunt years ago bought me a bunch of silver/gold plated metals from the National Historic Mint. I hate to think how much she paid for them. they all have certificates of authenticity to try and make it seem more legit....not sure how to get rid of these beside using as fishing line weights!!! like your idea Seeker of using them as easy targets in case someone breaks into your house
My dad also bought some similar "coins" before he passed. Luckily I talked him out of buy more.
Dang grifters are paving their path to H- Double Hockey Sticks
There is no different between this scam and all the email or phone scams. People should we held accountable for what they sell and how they sell it period. They should be assamed of themselves for doing this to the seniors in our society who worked hard all there lives to give us a better way of life, and not to end up lied to and screwed by these criminals.
It's deplorable that companies take advantage of older folks by selling this BS to them... enough said...
I looked this company up online and was surprised at the prices they are charging for some of this stuff. $19.95 for a silver plated commemorative coin with only a few pennies worth of silver on it. I'd rather pay $25 for a one ounce bullion coin or round. Tricky games these companies play.
Wha?!...
My brother-in-law fell for it, and he knows I'm knowledgeable in PMs. After the fact he told me about the "sale prices" he got, oh no!!!
Did he believe you when you told him it wasn’t worth anything?
I’m also curious, about how the convo went.
It's a dammed shame that this company obviously targets the elderly with these so called coins.
That's a good idea to use coins like that as a decoy collection in case of a break in.
Those companies should be reported to the BBB for misleading advertisement
Was flipping around the TV channels ... saw 10 ozt Canada Mint bars being sold at 200$ over spot and the guy saying he had so many and he had begged his suppliers for more and couldn't get they with ... I hate to see how much these will cost when I can get them ... I bet cost alot more came from the cohost
Always a great vid. I am a regular viewer and appreciate your information.
Thanks for sharing this kind of info. Very informative. By the grace of God I've never gotten suckered into any of this kind of stuff.
Wonderful information! It's unfortunate that many people buy into FOMO. It's hard when a person has no one to talk to when they first start out. I didn't have anyone to talk to about PM's when I first started. I bought into the fear of social collapse and just started buying. I always bought real silver, but early on I bought a lot of high premium silver that was not worth the premium. I am always sharing with anyone how important it is to find a trustworthy LCS if possible. I'm grateful I did. Watch your elders!
I called Pay Pal, and was told Buyers Protection, if reported within a certain time frame, would refund my money.
That SUCKS!!! Wonder how many people were scammed by that company?
I learned about this in an episode of South Park. It hurts me knowing these scams are televised
These people need to be straight up LOCKED UP for scamming! IMO
Charlie Brown says I got a box of rocks 😅 lol 😂
I just went on their website. Seems they sell real coins and replicas. The real coins are way overpriced (90% "junk" silver quarters at 42X face!). The replicas are cheap (the 1913 Liberty nickel replica costs $12.45). They also sell replica currency, which is clearly not real. Surprisingly, they seemed to be very clear about what was real, and what was reproduced.
Not defending them, just saying their marketing tactics seem okay (at least on the website). Though i don't know why anybody would want fake coins.
If I... someone who knows metals...have to THINK about their wording to catch that it's NOT WORTH THE ASKING PRICE, then they are being SHADY. Such as .24 gold, 200mg fine, putting very tiny print on the side of the coin, using words such as genuine and pure with CLAD which is deceptive because clad is not pure, focusing on things such as the diameter being the same while ignoring the thickness, and using four nines all over the place and not calling it what it IS. Mixed metals covered in...foil. FOIL isn't even correct! it's thinner than that! The replicas are NOT cheap! Do you really think handing me your 40 bucks repeatedly getting NINE CENTS of gold back each time is cheap? If so, you don't know what cheap is. I beg you, PLEASE give me 40 bucks. No, send me 200 bucks. I will send you back $0.45 cents in gold dust. Send me $400. I will collect $0.90 cents of gold dust and I am real so I will make sure I weigh it correctly and send .999 PURE 2000mg of .24 gold dust back to you. I think that's pretty cheap and the gold dust i sell will be real. Now send me $1,000.00. Enough to get a half ounce of gold in reality. I will actually give you a SALE and send you a whopping $1.50 in gold dust! By now you should be able to SEE the dust that I send you back. Unless you are elderly. That still sound legit to you? Many elderly have sent them MORE money than that thinking it is an INVESTMENT for loved ones. How much return do you expect your $1.50 in gold dust to appreciate to in 20 years? Compared to the half OUNCE you COULD HAVE gotten? Why would you buy a buck fifty worth of ANYTHING for a grand?
Exactly.
I fell for this scam years ago thank you for video, I payed 29$ each for worthless rounds
Imagine owning a lcs and having to tell people this junk is worthless. Good question to ask Mike in your next video with him. Must be heartwenching for both owner and customer.
Thank you for your expose on these companies which may take advantage of the uninformed. It would be beneficial if this video were shared with as many people as possible.
Companies that will take advantage of the uninformed? You mean like 95+% percent of the businesses that exist in the United States?
I love these viewer submissions videos, raises awareness, I've seen several on other channels as well, you'd be surprised how good some are.
These at least are marketed copies, even though they may have overcharged for them, yankee has a good video on some good fake Morgan dollars.
You are a good egg doing a great service 👍
Great PSA !
I got cheated once, now every stacking silver or Silver Eagle I get, I test with a magnet, then ping, then weigh, as most Chinese replicas are silver plated or silver colored steel or iron core and sticks to a magnet even through a capsule. I never buy from unknown sellers, only verified sellers or coin dealers I am familiar with. Love all your videos, this one was fun and educational…
This poor man's collection is so sad, and it does make me mad. They clearly took advantage of the man who bought this. Preying on the elderly and those not informed is immoral if not illegal.
Precious Moments, but for old men...at least he was equal.
Great Video! I hate to see anyone get beat up on this sort of thing. Old or Young. A younger person may be totally discouraged to collect coins if ripped off- sometimes even for a few dollars we loose a new collector because of scams. Yes, the "coins" look nice, but there is no numismatic value or even face value value.
Some people think that all coin dealers are rip-off artists and actually believe the TV sellers.
The silver coin is 71mg of silver plate and the gold has 14mg of gold plate. Each sold by NCM for $19 to $99. Absolutely criminal.
Ouch ! Thank you for sharing your experience and wisdom. !
I wish this content was available years ago. Thanks for the info,
Great video. I recently tested a friend of mines large stack and found a few bogus gold and silver pieces within the stack. Will be shooting a video on them shortly.
Thanks for sharing. Honestly, some of these are pretty pieces of art. If onlly they were being marketed as such and not with practices that confuse many. Stories like you are sharing here are important but incredibly sad.
Good information to know. Too bad the man was taken advantage of.
Thank you for making the video. !!
I have a replica 1849 double eagle. I knew it was a replica, but for $2 it makes a fun novelty item.
His Dad got hosed too. My Dad was doing the same things. Paid $53 for a Kennedy half. I told him to stop buying that crap. Check with me before you buy.
Just seen someone trying to sell these in a Facebook group I called him out and they booted me from the group lol
Were they the creator of the group? XD
Hopefully others saw your message.
I could see these guys advertising a 1999 round as "three nines".
Ii actually got taken on 10 silver eagles I bought on the internet. I saw what I thought was a decent price and ordered them. No more I only order from SD Bullion now!
Way to go!
My father in law is constantly buying coins from places like this they are REAL coins but I’ve told him time and again the prices are way over inflated just 2 days ago he showed me another coin (walking liberty common year San Francisco mint) I looked at the condition and matched it up on pcgs website and told him it’s worth $34 he said I paid a lot more than that and again I said STOP in 100 years it might be worth what you paid SMH hopefully he will stop but he’s 80 and stubborn sigh thanks for sharing see you on the next one 👍🏼👊🏼
See, it's prople like that, especially when they're so giddy about the whole S.K.I. thing, that makes me less than sympathetic to the ones that get taken for a ride like this.
Many overpay BIG TIME on Ebay. Silver rounds @$40.00 a piece are common where most online metal dealers sell them for $29.00 Have to be careful, especially for new stackers.......
I THANK you sir, the truth..
That's so sad that this gentleman wanted to leave something for his family and misunderstanding had him buying things of minimal value.
Good video! Actually helping people who don’t know. I remember them selling gold coins/bars on TV 50 years ago. I wonder if anything onTV was real.
This is devastating to see and hear about.
Unfortunately there's lots of scammer's out there looking to take advantage of people. This is always sad to hear
That's sad but informative. Thanks for sharing.
You're absolutely right, they are pariah's it pisses me off
So glad you do these videos
Great info... Misleading is just wrong. definitely wrong!
Glad I watched this got to stay away from the fake coins during this time.
Their marketing on those coins is very deceptive. Then they say a limit of 5 coins per household, order fast. Someone that doesn't know about coins are easily deceived.
Sometimes people buy those knowing full well they're not real value coins but believe that if it is at least plated in precious metal, no matter how small the amount, that eventually over time it'll become valuable.
Thank you for this video.
"Never Give a Sucker an Even Break" - W.C. Fields
I’ve told my grandpa to never buy precious metals without running it by me.
I had a copy of that buffalo myself .
Awesome vid. I hope the children are asking the mint questions.