Fake Silver Sold on Craiglist

PIERCE COUNTY, Wash. —

Daryl Casson thought he found a pretty good deal. Solid silver bullion at a price just below market value. So he met up with a man who had advertised the silver on Craigslist.

"I looked at them, I weighed them. They looked perfect, they weighed perfect and I bought them," Casson said.

Casson has some experience investing in precious metals and was sure he'd gotten a good buy on high quality silver bullion. But when a friend in the precious metals business heard of Casson's great deal, he was wary, telling him to bring him the bars for testing. "I tested mine, they were all fake," said Casson.

Counterfeit silver bullion and coins are flooding the internet as producers in China mint the phony valuables and sell them online as novelty items. But the fakes look and feel very real. The bars Casson bought were nothing more than ceramic plated with silver. They sold at 25 to 50 cents apiece. Casson paid $21.50 apiece for 100 of the bars.

Read more: http://www.kirotv.com/news/news/fake-silver-bullion-and-coins-show-craigslist/nbTf4/