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Chinese 'Forgery Factories' Producing Counterfeit Perth Mint Gold Bars and Australian Coins

Buyer beware from a fellow precious metals investor...

"On the front is stamped "Perth Mint Australia", on the back are kangaroos - a close copy of the actual design used by the mint.

The worker doesn’t hold back when quizzed about the procedure. "First we did the silver plating, then the gold plating," he said.

What should be valued at $510,000, is actually counterfeited gold bars that Seven News paid $300 for (300 pieces at $1 each)."

See rest of text and video here:

http://au.news.yahoo.com/latest/a/-/latest/15182799/counterf...



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I WISH

siwwy amewicans can think of ideas like this

Here's a photo tour of a Chinese counterfeiting mint

Here's how it's done up close:

http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiti...

-Bloatedtoad

In other related News

Federal Reserve Forging Factories are counterfeiting US Dollars (aka Federal Reserve Notes) by the Trillions. What should be worth $100 is actually worth $3.

Shouldn't the Secret Service be investigating these Federal Reserve Forging Factories?

Since the Federal Reserve is a Private Bank, don't the Anti-Trust Laws apply? Where is the competition? Shouldn't the Banks be broken up out a Fairness (for the Lefties) and Competition (for the Righties).

I have a perth mint gold 1

I have a perth mint gold 1 ounce

Any ideas on what I should do? I have no idea now if its real or not

The fakes are probably plated steel. Try a magnet.

Measure with calipers (length, width and thickness). Weight on scale.

Tungsten would fool Archimedes unless he did his tests with hot oil instead or water at STP.

The density Gold and Tungsten is the same only at STP.

Free includes debt-free!

A good guide

IGR

although IGR comes up different weights in the package. Not sure if I should test a few

a nod's as good as a wink to a blind bat

Gold is Gold.

What damage was done. Someone paid a few bucks for a fake rolex.

If the Perth Mint wants to protect its brand then help us spot the real thing. Don't tell me yo go to someone I have to trust.

If your brand is good then should be easy to prove.

Free includes debt-free!

Bullion

This is why you buy coins folks! Smaller and less likely to be a fake. It just isn't worth the time to fake individual 1 oz silver coins.

Cyril's picture

And even in case of doubt,

And even in case of doubt, anyway, a scale and silver testing kit is like... what ? just a one-time 36 bucks cost, these days :

Silver Testing Kit

(can probably cost even less as a handyman's do-it-yourself)

Update:
"lol" dear wife says at 36 it's almost a rip off aimed at (sometimes) google-lazy dudes like me; she got ours, equivalent, with a bit of more research, on eBay for less than $20.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

is it any wonder why (real)

is it any wonder why (real) gold is valuable?

Foolish

As in the proverb, "A fool and his money are soon parted." Too many, people still fall for these games, because their common sense is overwhelmed by their greed! You know, "The love of money is the root of all evil!"

Reputable Dealers

Reputable dealers will find ways to ensure value. Good thing it was exposed.

What do you think? http://consequeries.com/

Actually, a reputable dealer

Actually, a reputable dealer was taken as reported just a few weeks ago in another scam. Real certificates included.

http://www.zerohedge.com/news/tungsten-filled-10-oz-gold-bar...

And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

This, along with the fact

This, along with the fact that there is more profit to be made, is why I invest in the MINES! Buy stock in the mines that produce gold and silver, their prices move much more in a bull market, it can be sold quickly and easily, and you don't have to worry about fakes!

Nothing in this story about how much they weigh

I suspect these don't weigh much, are obvious fakes.

I agree

I buy gold and silver bars all the time. You have to measure the dimensions and take the weight it should be identical to what the mint says it should be. 41 X 24 mm and weight 31.107 grams. It's very easy to fake the dimensions or the weight but not both.

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    Actually it's easy if you use

    Actually it's easy if you use tungsten for the underlying bar.

    But even China would have trouble making money selling it for a dollar a bar then. As of 6 years ago the price of tungsten was within a couple cents of a dollar per troy ounce. I haven't checked but I bet it's higher now.

    You could also fake the weight if you made it thicker, which might not be noticed or measured as easily. Don't forget to check all three dimensions.

    = = = =
    "Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."

    That means: For each job "created or saved" about five were destroyed.

    that's very true

    It's just a little more difficult to do it with tungsten because of its significant higher melting temperature. Tungsten is very hard to work with but they do seem to have the machinery and will to do it.

    Unfortunately the only way I have noticed to get thickness of the bar or coin is by checking it against one that you already have and know the dimensions of. There are not many places to find all three dimensions. If you happen to have a website that publishes that info it would be greatly appreciated. You would think it would be publicized a little bit more on the individual mints' webpages.

  • New Jersey's Premier Junk Removal Junk Service!
  • Accepts Bitcoin
    www.powercleanouts.com
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    Wow

    England, New York, now Australia.

    Looks like someone's just trying to fraudulently profit on the inevitable collapse.

    Anyone check Ben Bernanke for an alibi yet?

    He was probably at a tungsten mine...

    ...to fill the Fed's vault with...

    Cuimhnigh orm, a Dhia, le haghaidh maith.

    haaaaaaaaaaahahhhaaaa....

    I loved the whole clip...
    and what it 'does' to your head.
    Great.. thanks!!
    Integrity
    Honesty
    Charity
    Patience
    Kindness...
    the true 'gold' of Ron Paul.
    Cheers,
    G.

    Cyril's picture

    OUCH

    OUCH

    "Cyril" pronounced "see real". I code stuff.

    http://Laissez-Faire.Me/Liberty

    "To study and not think is a waste. To think and not study is dangerous." -- Confucius

    Bump

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