Now Chinese Counterfeiters Are Ripping Off Precious Metal Investors


Photo: morgan via Flickr

Even the experts are being fooled by high quality Chinese counterfeit coins.According to PRWeb, the Chinese can make it all — old, new, silver, gold, and even gold bars.

Add this to the pile of fake medicines, pirated movies, and faulty electronics that are made in China.

Gold prices have gone up in recent months. Many investors buy gold and silver because they are considered safer investments since its value is not closely tied with other commodity prices.

However, many people who are buying gold and silver from the internet and flea markets are finding themselves holding a pile of worthless metal.

The Global Piracy & Counterfeiting Consultants actually estimate that about 10 per cent of China’s GDP comes from sales of counterfeited items. That’s about $588 billion a year from counterfeiting.

The Group even found one manufacturer, bragging about his ability to produce over 100,000 counterfeit U.S. Silver Dollars a year.

Currently, the only safe way to ensure that you’re investing in the real thing is to buy from a reputable precious metals dealer.

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