How do you store and check/test new silver purchases?

[Ryan AC]

Wondering wether people like to keep things like 1 ounce bars sealed or open them up and store in plastic cases? Advantages/disadvantages?

Same question with others like coins, larger bars, poured bars etc.

What checks/tests do you do if buying from places like auction sites or anywhere other than bullion dealers?

[Ryan AC]

I think I might just open my bars and use plastic cases as it's easier to get a 100% test result with weight/dimensions, tidier to store, looks nicer IMO.

[SilverPirate]

I use a rare earth magnet from a P.C. and weigh it on a digital scale and i look and see if it does the cart wheel effect.Also i compare with another one in the stack if i have one.I normally buy from dealers only that i use regular.

I plane to cut open my bars and store in tubes,I have a monster box and want to stack it in there close together eventually.I have a long long way to go.

[Pete]

I buy specific year coins like Kooks etc on eBay but I would stay clear of ASEs and Maples etc.

There are too many sellers now listing plated replicas and having never seen one I do not know how easy it would be to distinguish from the real thing.

 

Buy bullion coins from proper dealers and people you can trust.

I don't believe there is a simple test for silver for the likes of us stackers.

Gold is easy due to its unique ( other than Tungsten ) density so weight & size are simple measurements.

 

You can always attempt to measure specific gravity by weighing the coin suspended in water on a fine wire.

Tricky though and prone to error if not done properly.

[Shamatti]

I never open the original container the coin came in. If I have any doubt I don't buy. If I buy I assume I got it right and there is no nbeed to check it. Usually Iuse dealers or trade through sites such as this one. Rarely do I use eBay these days. I suppose I do have a few from there, but I have never had cause to worry about them being authentic. It's quite easy really. If a guy has a thousand positive feedbacks, and sells nothing but silver coins, I trust that dude!! lol

[Ryan AC]

I've got a couple of 1oz bars unsealed, one under and one over weight but I've scratched and acid tested them and they're both real so I don't think the weight is that good with 2nd hand bars, definitely a good indication though.

I bought 2 fake bars to have a look at as well for a couple of quid one pan america sealed and one sunsine not. Sunshine minting fake compared to the real thing is so good a copy you can't tell the difference and tbh the real bar I've got you'd probably think was the fake one but it is magnetic. The pan America is sealed but I think the weights a little over, it's not magnetic though and to the eye looks real.

The best tests I've found is the ping test which is quite good but the sliding magnet test beats everything hands down from what I've tested. I've done a magnetic and a non magnetic 1oz bar, 7 real magnetic 1oz bars, a 10oz bar, .500 coins and .925 coins.

On everything real the magnet slides down slowly and the fakes either stick due to being magnetic or just slides straight off.

I'm really surprised at how accurate the sliding magnet test is and it works just the same wether it's sealed or not.

So I'd have to recommend that as being the ultimate test I think, unless anyone has seen it fail but from my tests it's spot on.

[Iceblue]

The amount of customers that come to us because they have been ripped on ebay is unbelievable. Thanks ebay for allowing fraud on your site as it results in us gaining more customers! lol.

Buy from registered bullion dealers, by registered I mean they should be registered with AUSTRAC or equivalent in your country and you will never have to worry about fakes.

[silversword]

I've bought all my stuff from recognised dealers - probably in their best interests to be honest so I don't doubt my stuff is genuine. A couple of coins have been weighed and dimensions checked, but after reading about how merely handling them can spoil the appearance, they've all gone into tubes. The couple of bars I own are still in their plastic as supplied. I now keep my first few coins for playing with/looking at, everything else sits sealed away to keep it looking pristine.