I recently purchased a Silver Eagle coin from a website named Vuexi. I’m here to say – buyer beware. The seller inadvertently hit reply to all when responding to a customer’s question. There were 74 people listed in the email chain. Many are reporting that the coins appear to be fake.
All American Silver Eagles that are minted by the US Mint are 1 Troy Ounce of Silver and .999 silver. One can easily test the coin. Silver is not magnetic. Hold a magnet to your coin. If the coin adheres to the magnet, then the coin is most likely a fake.
The U.S. Mint sticks to extremely rigorous specifications. Every single silver eagle has a thickness of 2.98 mm or .1193 inches, a weight of 1 Troy ounce or 31.103 grams, a diameter of 40.6 mm or 1.598 inches, and coin content of .999 silver and .001 copper. You can use a digital electronic scale to get an accurate weight within 2 decimal points. With calipers, you can check the diameter and thickness.
This “company” is advertising via Google and appears to be selling fake coins. Counterfeit coins are illegal to possess not to mention, illegal to produce.
Luckily, I used my Discover Card to buy this and have disputed this transaction as fraud.
Sadly, the coins are very well packaged and actually look very authentic. Hopefully, this blog post will help others from being scammed.