In addition to being upside down probably for a long time the crazy demand and prices also encourages scammers. Marked safe from buying real or fake shit way over spot at an all time high.
fake silver bars have been around forever >>> remember an episode from Pawn Stars years years ago - they used to do more of the show about their core biz of gold & silver trading ..... guy gets escorted in by a guard - cart full of silver - including a billot the size of a very large meat loaf pan - they took it in back and swiss cheezed it with a drill press - making damn sure the core was good ......
It seems the only thing that really drives this global economy is bubbles. Whether it is precious metals(which can be skillfully faked), housing(you would of thunk we learned our lesson in 08’), the stock market, and the grandfather of all current bubbles, the AI with it costly data centers that are jacking up electric bills that has never been seen before. The post Covid era has brought about an idiotic world of commerce and inflation that has driven the cost of living through the roof. I response, large corporations, small businesses, and even state and local governments have implemented prices, taxes and fees that are driving the cost of living even higher. My local government wants to implement a $50 permit to emplacement or replace your mail box. I was quoted $1000 by a small auto shop to perform a simple brake job on just the front brakes, this was two years ago. Suffice to say, the pads and a couple of other small parts and a couple of hours in my garage saved me $920.
They didn't test density!? They just silver-plated iron!? I totally trust only 4 people in this world, Me, Myself, I, and my Mother! Hell, with silver the drop-test would have told you that something was off! That is why I prefer pre-1965 90% silver US coins in average condition, because unless they are rare collectibles they aren't worth counterfeiting.
The value of housing can be faked. Allow anyone to get a home loan, zero down, no credit check, no proof of income or simply let in millions of illegals.
The real danger is that you can go into esty and buy fake silver coins sold as fakes for a few dollars and then try to play with them and sell them to suckers as real. Replica Silver Coin - Etsy The seller is happy to make a 100 % markup in his fake coins and it is not his problem if the buyer tries to make 40 times his purchase price. I own silver that I have had as a backup for 40 years. With price and fakes being produced in multiple ton lots, I am not buying any now and it rapidly becoming obvious to me that silver may not be a good store of value for the long run
