Questionable Buy.

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spikes2020
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Questionable Buy.

#1 Unread post by spikes2020 »

I'm new to this coin stuff, normally i buy bars from a good dealer... but i decided to venture out of my norm.

I am not down voting APMEX at all, but i got a coin from them and it just didn't seem right. I ordered the "grab bag" option from APMEX, so its a bunch of different silver coins.

First i noted that one coin did not have a date on it, then i noticed it was a bit smaller in diameter than all the others. It measured 37.6mm x 3mm, all my other coins i got were 39mm. Also all of my other coins had smaller ridges on the edge and this one had a bit larger. I had very strong magnet so i tested that and it seemed fine. I really don't have a lot of experience in testing coins so i thought i'd ask some others before i go yelling wolf, i was hoping for a second opinion.

Front and back...

http://imgur.com/fNz0drJ
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http://imgur.com/FCd7Ivs
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Thanks

Spikes
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mhonzell
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Re: Questionable Buy.

#2 Unread post by mhonzell »

Read the fine print:
APMEX wrote:Items may be beautiful, ugly, commemorative, engraved, tarnished, plated, off-brand, or even a hidden treasure, but all are guaranteed .999 fine Silver! Pieces may or may not display weight.
It's just an off-brand. It's still silver... but, may be harder to sell in non-critical times since it is not "recognized" by other buyers.

Should paper money ever fail, then remember... silver is silver. A refiner is not going to pay a penny more for premium rounds over generic when they are all being turned into 1,000 ounce bars.

So, the real question is what does it weigh?
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spikes2020
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Re: Questionable Buy.

#3 Unread post by spikes2020 »

Hey thanks!

Yeah i really trust APMEX, but i can only image how many silver coins go though there and just one fake nested in millions of coins... normally i buy new bars from them so i am 99.9% sure that its silver.

I know a refiner wont care, that's why i buy bars of silver... lowest price over spot and easiest to store. I was just trying to get something smaller than large bars...

I'll bust out my scale when i get home~
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dipper13
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Re: Questionable Buy.

#4 Unread post by dipper13 »

Spike, as long as it is as advertised, you are fine. I bought some troy ounces that were a Chrysler corp. incentive from the 1980s. It said one troy ounce and they were. They are what they are, not coins but silver. Apmex is a very straightforward company. I trust them.
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