4 years ago I purchased a 2009 1oz Gold Australian Kangaroo. It was graded an MS 68 by NGC. Great looking coin. Holder was flawless. I took it down to my LCS and he put it on the scale. This 1oz gold coin turned out weight .55 oz. Just over half an oz. The coin had a very thin layer of gold on the outside but the inside was JUNK! Cost me around $1,100 at the time. Seller said he bought 10 of them at a coin show and owned them for many years. He offered me 75% of my money back because he said he shouldn't be the only one taking a loss. I knew I saved this piece of shit coin for a reason. It's to show it to you all on Steemit!!!
Of course there was some damage when I ripped it out of the holder but man it still blows my mind. My LCS shop owner looked at me and said, "this is the end of the world."
After this experience I decided it was time to suit up and get serious. This could have been an $1,100 loss which would have paid for any high end bullion/coin verifier. This was my moment of clarity. I did a lot of research and ended up purchasing a Sigma Bullion Verifier from Pinehurst Coins on EBay. The total cost was around $750.
This is the 'Bullion' version. It is an addition $125 or so for this model. It comes with the Bullion wand. The bullion wand is capable of reading up to a couple inches deep. Used for larger bar's like 100oz silver door stops. Those can be filled with lead but with a silver layer on the outside. A simple acid test wouldn't be effective in that case.
The Sigma verifier comes with two wands. A small and larger wand which is used for pin point testing. The wand use is optional. If not using a wand you can place the item on the center of the target area. This sigma verifier reads through ALL GRADED SLABS AND PLASTICS. Both the wand and machines target area can read through the slabs and plastic. The sigma verifies all major precious metals. As well has specific metals such as American Eagle, 90% Silver, Pre 1933, and Britania to mention a few. There are a lot more.
I encourage anyone who does not own a verifier to consider the purchase. One bad purchase could pay for a verifier or worse, several of them. Don't let it happen to you! Be proactive!
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Cheers!
Dude, this is EPIC! What a post, you are a ssg hero!
Seriosly though, this make a ton of sense. thanks.
@summertooth Glad you found this post helpful! Thanks for the kind words..🤘
Sorry for the surprise, I'm sure we all have some fake metal too, just don't know it yet. Question, can you scan gold chains, or sterling silver? Thanks for this valuable information.
It does not read 14k or 18k gold or sterling for jewlery. It does read sterling and 90% silver coins/bar's. Jewlery doesn't have the surface area to get a read by the wand or target area. That is the only missing aspect with this verifier. It is truly only made for all coins or bar's. Great question @rollingthunder!
So sorry to hear about the fraudulent coin...
You may be grateful for this experience in the future, however!
If (when) society moves beyond the fiat currency thievery we all live with today, you and your machine may be in high demand!
I plan on buying one for myself now after reading your post!
Thank you for sharing your story, followed 🤝
This situation pushed me to get a verifier. Everything happens for a reason! They are very easy to use. If you have any questions feel free to reach out anytine. Thank you for the support @scan0017.
Ok, awesome -- thanks 🙏.
I took screenshots to make the purchase as a Christmas gift (from me to me 😜).
I'm honestly looking forward to just playing with it too 🙂
Again, cheers to you for your post; I'm glad you'll never again have to worry about the authenticity of the product you buy.
Fantastic Christmas gift to yourself!!😅
It a a blast to mess around with. Tons of different settings. I wouldn't say it gives a 100% no doubt authentication. What they say is... if the indicator line can sit dead center of the left and right boundary lines. Then the item is believed to be authentic. Any other reads a spot or two left or right then there is reason to do further testing. If the indicator line is outside the boundary lines then there is a strong possibility it is fake. This verifies intended use is to gauge the need for further testing. That is what they say in the manual. That's just a way to cover themselves in my opinion though...
Yep... A c.y.a. move for sure.
Thanks for the insight on the machine; I've always bought from authorized dealers but even they can be fooled.
I like the peace of mind this machine offers.
That is a valid point. Even some of the local dealers arnt using equipment like this. 👍
Great post, i love that versifier but she's a little pricey. I was close to buying one when i found my not so L.C.S. coin shop. He let me borrow one now that i'm a customer. Save me some money. It's a cool tool.
That's nice to have one available to use. That's really all you need. Obviously this isn't an everyday tool but more of a piece of mind. I use it probably once a month and run through all my purchases in one shot to verify. Thanks for your support @firecajun9262.
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STOPIt is one of those moments, for sure.
I don't have a machine and have considered it. but most of my stuff I buy directly from bullion dealers. I trust, but Nothing is 100%.
Just looking at this coin I can tell it's not right, the stars are almost proof like and incused also the holder, the label and the hologram just don't look right. but if you didn't know this you could be easily fooled as it's in an NGC holder or what you think is one. does it stack with the other ngc is another way. but fakes are getting better and of the slabs to. so if you are buying expensive items from say ebay or a coins show. A Good investement.
I didn't stack it with other ngc holders. I honestly didn't give it a second look because it was slabbed by ngc. Obviously that was my mistake right there. Valuable lesson learned.
albeit an expensive one. often the case and that's why it so dangerous just to trust it as it's in a holder that it's legit. Is what they prey on I guess lack of knowledge. You won't be caught again though. but I even hear the machine can be fooled or give wrong results sometimes. Think with tungsten and Ultrasound only real way to know. guess it may have to do with how deep it scans and different machines will have a different scan depth.
Yes agreed. It could be thrown off by some of the newer metals used. The bullion wand does help reading deeper. The best is the xray gun. I looked into that as well. Can cost 10s of thousands for a nice one. .
I guess as well that's one reason I like raw coins. as well as the edge they give me in the EU. You know the weight & dimensions of the coin so you can check it but you cannot in a holder. neither can you do a specific gravity test. does interest me a lot. The science behind it. Most fakes would come foul of one test but pass another or even all other tests like the magnet. as we deffo cannot afford to spend thousands or hundreds of thousands on Spectrometry unless you buying big huge bars of gold. No one test IMO is fail-safe and that's what makes coins in holder dangerous if you buy from unknown sources. Unless you have a machine. but most machines have limitations or a certain tollerance that the results will be within. Fakers could get a machine and make a composite that could fool the machine and that's scary and not beyond the realms of possibilities.
I agree with all points. It is incredible the level counterfeiting has got to! You can only do your best to learn and prepare..
I have been pondering one of these for over a year. Most of my stuff I am getting has been from trusted sources, and mostly silver but I seriously need to consider the investment again.
@senstless I don't use it all the time. But when I do it is a huge relief. It also offers a piece of mind. That is worth it in itself...
@silveringots I also sponsored you for the SSG that you were nominated for. Great info and Valuable to All......................
@stokjockey I greatly appreciate it. I really enjoy steemit and hope to fill my part in helping build this community.
So sorry you had to experience the loss to make the purchase decision, but protection of investment capital and peace of mind using it it will bring is likely to pay dividends. Thanks for turning your loss into a lesson for others to learn from by sharing your experience. Going to have to consider getting one for myself. :)
It's amazing how much one will spend acquiring precious metals. This is a must have for any stacker/collector. The goal is to preserve wealth at the end of the day. Give yourself every opportunity to do it right. That's my philosophy anyways @hypnoprenear. Thanks for your support. Any questions let me know 👍