eBay Silver Scams - I Got Duped!

Summary

In this video, the creator tests the authenticity of silver bullion pieces purchased from eBay, comparing them to verified products from reputable dealers. After evaluating multiple items, including silver bars and coins, through weight measurements, magnet tests, and metal verifiers, the creator exposes the risks of buying from untrustworthy sellers with low ratings. The video emphasizes the importance of doing thorough research when purchasing silver online and urges viewers to avoid sellers with limited feedback or suspiciously low prices to avoid counterfeit products.

Takeaways

• 😀 Don't trust eBay sellers with low ratings, as they may be selling counterfeit silver.
• 😀 Always verify the reputation of the seller, especially when buying silver bullion.
• 😀 The weight of silver bars and coins should be consistent with the expected value (e.g., 1 troy ounce).
• 😀 Counterfeit silver items may pass the weight test but still fail other verification methods.
• 😀 Use a magnet test to easily identify fake silver; real silver should not stick to a magnet.
• 😀 Silver bullion bars should come with proper packaging, such as a sealed case and plastic wrap.
• 😀 Be cautious when buying silver below the market price as it may indicate a fake product.
• 😀 Always double-check the design and font differences on silver products, as counterfeit items often have noticeable discrepancies.
• 😀 Using a metal verifier can help distinguish real silver from fake materials.
• 😀 Sellers with low or no feedback should be avoided when buying precious metals like silver on eBay.
• 😀 When buying silver online, prioritize purchasing from established and reputable dealers to avoid scams.

Q & A

What was the purpose of this video?

The purpose of the video was to test the authenticity of silver bullion purchased from eBay sellers with little reputation, and to compare them to pieces bought directly from reputable dealers.

What was the key difference observed between the bullion pieces bought from eBay and those bought from reputable dealers?

The key difference was the packaging. The pieces bought from reputable dealers were sealed in plastic, while the eBay pieces were only in a case with no additional seal.

What test did the creator perform to check the authenticity of the silver bullion?

The creator performed several tests including a weight test, magnet test, and precious metal verification test to determine if the bullion was real or fake.

What was the result of the magnet test?

The magnet test revealed that the bullion pieces bought from eBay were fake, as they stuck to the magnet, indicating they were made of a different metal, while the dealer-bought pieces did not stick to the magnet.

What was the significance of the weight test in the video?

The weight test showed that both the eBay and dealer-bought silver bullion pieces weighed close to the correct weight (1 Troy ounce), but the fake pieces still showed significant differences in other tests, indicating they were not genuine silver.

Why did the creator caution against buying silver on eBay?

The creator cautioned against buying silver on eBay from unverified sellers because of the risk of receiving fake or counterfeit items, particularly when the sellers had low ratings or no reputation.

What lesson did the creator want viewers to learn from the video?

The creator wanted viewers to understand the importance of verifying eBay sellers, checking for a large number of positive reviews, and avoiding cheap silver from unreliable sources to prevent getting scammed.

What was the result of the precious metal verification test on the eBay bullion?

The precious metal verification test showed that the eBay bullion was not made of silver at all, as the tester did not register any reading when testing the fake piece.

How did the creator handle the situation with the eBay sellers?

The creator planned to contact the eBay sellers and request refunds for the fake items, while also reporting them to eBay to warn other buyers.

What recommendation did the creator give to those wanting to buy silver online?

The creator recommended that buyers only purchase silver from reputable, verified sellers on platforms like eBay, ideally those with hundreds of thousands of positive reviews, or directly from well-established websites like Kitco or APMEX.