Week 10
So this question has been delayed a bit, sorry for that but it was thanks to the Silver Gold Stackers discord chats that I found new inspiration for the next questions. Today marks week 10 of this initiative and I think it's a good moment to make a compilation post of the questions that have been asked including the links so that everyone who's interested can easily find back all the great resources that have been shared by the community members.
So after this week's payout, I will create a compilation post of the previous ten weeks because I've personally collected quite a few bookmarks with resources that I find very valuable. As there seem to be some new stackers on the horizon in the discord chat, I think this is the perfect time to ask some serious questions about how to avoid buying the fakes.
This weeks's question
I've already read some answers in comments before, reading blogs about it, people shared some Youtube video's and I believe our very own sells some tools to help you check if you have the real deal.
I'm personally going to decide for myself which tool I should buy first to start covering myself from being scammed, partially based on the answers here as well as what I already read in the discord. Not everyone is a member there, so it's good to discuss that here too, let's help each other (read: us newbies, lol) out here :)
My personal answer
This week, being so new to collecting precious metals myself I can't give you the advice on how to check for real silver rounds or bars because I have been going the reputable dealer route and hoping this was enough for now until I have funds to collect myself some tools to quickly find the fakes whenever this happens in the future. Preferably before I bought it, of course.
When it comes to jewellery, I check for markings with a little magnifier I carry in my bag which I bought on one of my last flea market visits and it's been great so far to check if I was dealing with actual silver jewellery. I've also used it to see if I had any errors on circulated Euro coins or found things making me doubt if I had a precious or valuable items in hands which needed to be examined first before using it to pay for something. Best to check those coins first!
To avoid buying fakes, I decided to probably (until I have tools) not buy any silver coins on markets until I know a bit more so I don't have to deal with that. What I do look for instead is those circulated (or once circulated) coins that I find appealing to look at or those that just make me curious to find out more. These are small purchases though as I would never pay more than a few bucks, risking I'm way overpaying for something that I can't quickly research on the spot. I prefer doing that at home, without feeling pressured.
In the future
I hope to be able to at least check for these real silver rounds on these markets though and have one or more tools at hand to do at least a few basic checks as I can see it happening that there will be an item that I have been doubting to buy online and vote against due to shipping fees. If I have to pay a few euros more on the market but still be off cheaper than paying for high shipping fees, it's still a good purchase if I really want a piece. For now, I will just look and enjoy the shiny things they offer though.
Your answers
I hope a lot of the OG stackers chip in this week to answer and we can make this a resourceful post for the newbies or those interested in collecting. I've noticed (with myself too) that sometimes FOMO can kick in and you can get overly excited making a stupid decision, I don't wish that on any of my fellow stackers so throw your answers in the comment section, or if you like create a post yourself. If so, please drop the link in the comments below so I will not overlook it when going through the answers.
HSBI shares
I will pick at least 5 people who joined and send everyone a HSBI share, if you're lucky or if I loved a lot of answers, I may throw some more shares your way. Five is the minimum every round. I'm very excited reading your answers, pictures and videos are bonus points because they add to the fun!
Let's go!!!
Picture of the Hive silver round is my own..