All around Silver - ... The buck stops here ...r/WallStreetBets? RobinHood? brand-new to silver? I"ve got a page simply for you!UPDATE: on the page, I describe why the Perth Mint is not in default.

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Mills silver is FAKE

What is "Mills Silver"?

The quick answer is the it is not real silver!A slightly longer answer is the these are fake silver bars, made of a base metal (such together copper or lead), and also (presumably) have silver electroplated ~ above them. We estimate that over there is much less than $.05 worth of silver on each one."Mills Silver" is a hatchet apparently made up by the CMC Mint (selling ~ above auction sites as ameropaintball). "Mil" is a term supplied to show a thickness the silver/gold plating. Till February, 2010 we had actually not heard of the term "mills silver". At the time, though, the CMC Mint started mass producing plenty of different bars the a base metal and also labelling them ".100 MILLS .999 FINE silver - 1 trojan OZ" or ".100 Mills.999 Fine silver- - 1 troy Oz Ounce" or "1 OZ .100 MILLS.999 good SILVER" or "100 MILLS FINE silver- - 1 OZ TROY" or "100 mills .999 Fine silver- - 1 Oz Troy" or "1 troy oz - 100 mills - 999 Silver" (and most likely some other variations).The ax "mil" when electroplating silver refers to 1/1000". The items marked "100 mills", if referring to "mils", would certainly be 1/10" thick on every side -- yet a standard real silver bar is 91 mils special (.091"). Clearly, these are not electroplated through 100 mils of silver, or they would really contain 2 ounces the silver, and the company would easily go out of business. Therefore, the ones marked ".100 mills" probably typical ".100 mils", or 1/10,000". The is 1/910th the thickness the a standard silver bar, and multiplied by 2 (as every sides should have actually the electroplate ~ above them) is 1/455th the thickness the a standard silver bar. That"s 0.22% silver, or 22 parts silver every 978 parts of lead/copper/whatever. Or a value of less than $.05 also with silver at $20/ounce.The ax "mills" has a legal an interpretation in the joined States; it describes 1/10 cent. Together such, these bars may be considered counterfeit coins.

Should i buy something labeling "mills silver"?

No, unless it is plainly marked together being electroplated. In countless countries, it is illegal come buy, sell, or delivery items that are not significant properly.

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All of the bars/rounds labelled "mills" the we have encountered were not (in ours opinion) legal to buy, sell, or delivery in the joined States. They additionally violate the Hobby protection Act in the united States, together they space not significant with "COPY".Of course, if you discover one of this stunningly beautiful, and don"t mind the legal dangers of buying and owning one, and also don"t mind that you won"t have the ability to sell that later, go ahead and buy one.