Tuesday, September 18, 2012

Fake 10 oz Gold Bar filled /w Tungsten Found in Manhattan

New York News | NYC Breaking News

Although not impossible, it is much more expensive for a counterfeiter to do the same with one ounce gold coins and smaller. I buy only from multiple reputable dealers and mix up my purchases, sometimes I buy Mapleleafs, American Eagles etc.

(Thanks to J M Schmidt)
at 10:33:00 PM

12 comments:

  1. AnonymousSeptember 18, 2012 at 11:16 PM

    Glad I bought bitcoin instead...up 140% YTD already. Yes, it's volatile, but it can't be counterfeited. It's good to be diversified.

    ReplyDelete
  2. AnonymousSeptember 19, 2012 at 7:02 AM

    I drilled into a stack of 100 dollar bills. They were paper rags, through and through. What a relief.

    ReplyDelete
    Replies
    1. AnonymousSeptember 23, 2012 at 12:41 PM

      Oh great wise one, a thousand blessings upon you... Nearly wet my pants!

      Delete
  3. AnonymousSeptember 19, 2012 at 8:19 AM

    It would be really tough to do with a coin since it has exact measurements and a specific weight based on the gold content. Every time I buy gold coins from my dealer I always randomly pick one or two and measure and weigh them on my scale. I've never had the weight vary one bit. While I don't mind buying coins in mint wrap, I refuse to take graded coins since they come packaged in that shell. I'm sure that's seems a bit extreme to some, but it seems to me if you're going to do fraud with coins that would be the way to do it.

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    Replies
    1. AnonymousSeptember 19, 2012 at 12:01 PM

      tungsten filled gold coins are nearly undetectable through wieght volume tests(unless you have very expensive equipment. That is why the fill'em with tungsten!

      you have to use spectrometer or drillem to detect the tungsten

      Delete
  4. AnonymousSeptember 19, 2012 at 11:01 AM

    Anonymous @ 8:19 AM, can you recommend a place that sells scales sensitive enough to weigh coins (I'm guessing up to 1/10th of a gram?)?

    ReplyDelete
    Replies
    1. perlstarSeptember 19, 2012 at 12:18 PM

      There are several different brands of measuring tools like this one:
      http://www.goldcoinbalance.com/

      Delete
    2. WagsSeptember 19, 2012 at 6:43 PM

      Bought it. Thanks.

      Delete
  5. AnonymousSeptember 20, 2012 at 3:55 PM

    Tungsten has about 2x the electrical resistance of gold. Sounds like a sensitive digital multimeter could be a great investment if you buy a lot of buillion.

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  6. MartinNovember 19, 2012 at 5:12 AM

    Don’t Worry!!! James Bond upcoming project will remove the whole Gold from planet and the action with Drill machines will be viewed soon. 'Q' too is preparing the heavy gold plated ‘Tung-Sten’ missiles.
    1 oz Gold Bars

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  7. AnonymousNovember 26, 2012 at 9:08 AM

    We cannot deny the fact that incidents like this do exists. Anyway I haven't heard such incidents like this in a jewelry buyer tennessee

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  8. AnonymousDecember 10, 2012 at 12:31 PM

    I hope the ny gold buyers didn't get fooled by these tactics. Then again, they're well-versed in the craft.

    ReplyDelete

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