Unfortunately it is an accepted term in jewelry making, along with German silver with is also a white metal alloy with little or no silver content. And 'gold-filled' and 24K plated, while we're at it.
http://en.wikipedia.org/wiki/Tibetan_silver
Two things we should learn as we grow up:
Caveat Emptor-- let the buyer beware. This means that we should read not only the description but also the feedback received by the seller.
If it sounds too good to be true; it probably is too good to be true. This means that the price of silver is a global one. If a manufactured item something is selling for less than bullion value, what are the chances that it is really what it says it is?