Precious Metal Verifier

I believe it uses diamagnetism to test the metal's purity.

It's like if you take a magnet to a silver coin and lift the magnet really quickly, the silver sticks momentarily.

I bought the device with billion wand and I did test on 30+ silver, including silver rounds, silver coins, silver bars (large & small)
Kookaburra, silver panda (2009,2010,2011,2012,2013,2014, NGC slab), silver eagle, silver maple, Libertad, Hedgehog, ladybug, Zeus, etc

Found 2 old silver rounds were counterfeit. ( 1oz Prospector Silver Round ), rest of items quickly passed the test,

But RCM's silver plated copper coin ( 100 blessing coin ), when test, was mark on most right but inside bracket ( passed .999 silver coin) )


I then checked Precious Metal Verifer's manual, it showed the item I tested might be plated. Words written in manual does not give extensive explanation on plated coins.

Also I tried to do test on two PCs 1/25oz Gold Coin (both sealed inside RCM capsules and unable to take out coins) but no success, maybe capsule is the problem.

I will try on other gold coins next few days

From what I've read this device is far from 100% accurate. Very useful though.

I buy materials and machinery for a living (and write PVC formulas, the root of all my employment). I can't imagine this would be a good investment for 99.999% of individuals.


Before you spend any capital (money), you should have an idea of the payback ratio.

The payback ratio is basically a look at the cost of the equipment vs the money saved by owning the equipment.

The cost is straight forward. You should add in any shipping, batteries, labor, etc for a fully loaded cost.

The savings are more difficult.

This will not make you money unless you are able to rent it out or sell it for more than you bought it, unlikely in either case. Zero savings so far.

Now if you are buying fakes and this prevents you from buying fakes where another method would not have caught the fake, then that is savings. You have purchased 2 ounces of fake silver you said. I would want to be certain that this machine isn't giving off false positives too. Perhaps they aren't fake and the machine isn't good enough? Assuming they are actually fake, you would have saved your purchase price at that point in time.

There is some value to the peace of mind, but since that doesn't pay my bills, I value that at zero as well. Perhaps I could give you credit for the incremental bump in pay for a more capable employee to man the pawn shop, but that would be stretching it honestly.

Most companies I know use a 2 year payback rule (or less). In other words, if you can't save me my investment cost over two years, you don't get to spend my money on your idea.

Here you would need to save at least $625 over two years to get approval to buy this from some faceless corporation.

So if you think you can save say $312.50 in a year, I would sign off for this for my businesses. If you can't and you pitched this idea, I would question why I employ you in that function.


Personally, I just can't see how this cost can be justified unless you are a high volume metals buyer, say a we buy gold place or a pawn shop or the like.

So Buckeye, how do you know the gold coin you got was what you paid for? Just wondering?

If you hang around here long enough, you see some amazing looking fakes posted in some of the discussions. I guess that is why junk silver isn't so bad!!

Thanks!!

Thanks Buckeye!!

Yea I am kind of worried about fakes too.

Not criticizing the purchase on anyone's end. Big property rights / individual rights guy. Spend your money as you wish.

Just laying out the thought process we use in capital expenditures.


If PCGS uses it, I am sure it is pretty accurate.

I don't know if the CCF has one, but an online fake coin images repository would be quite handy. Probably could do one in a wiki format and let the community write it as we go.