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04:57 AM
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HOLY SHIT! 83 Tons Of Fake Gold Bars: Gold Market Rocked By Massive China Counterfeiting Scandal!
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 76809044:MV80NDQxMTU0XzgwODQ5OTA2XzkyQkFFRDk5] [quote:Anonymous Coward 78498671:MV80NDQxMTU0XzgwODQ1Mzk3XzczM0U1QzI4] [quote:Don Draper from Nantucket:MV80NDQxMTU0XzgwODQ1MjA4XzMzODE5MEM3] [quote:Blenderizer:MV80NDQxMTU0XzgwODQ1MTA1XzRGNzY1MjIz] It's surprising they'd use copper instead of tungsten. Tungsten has a specific weight (density) very close to gold, difficult to tell them apart. [/quote] I wondered the same! Maybe they were sealed containers, plastic sleeves etc. I don't know anyone who would take a 1oz gold bar out of a sealed plastic sleeve to attempt to test it. Let alone if they did they wouldn't scrape it for an acid test or cut into it for the same reason. Most people relish the quality of such a piece and handle them with kid gloves so to speak! [/quote] Please, I have drilled gold and silver bars. They sell just the same only diff is you know its real. Now come on and crawl out of your Mama's basement! [/quote] they're only heavy gold plated. you can scratch the damn thing and see the gray metal. [/quote]
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Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit in Manhattan's Diamond District which instead of containing the yellow precious metal would be filled with gold-plated tungsten or in some cases copper. The news would spark a brief wave of outrage, prompting physical gold holders to run ultrasound spot checks of their inventory, at which point interest would wane and why not: buyer, after all, beware in gold as in every other market, and if someone is spending thousands to buy fake gold, well that's Darwinism in action
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