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Gold Bar counterfeit story on Zero Hedge

Goldhedge

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#2
Junk silver...
 

Ebie

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#3
Don't buy one oz gold "wafers" .
And how could it contain no gold at all?
And why no photo of it in the story?
Odd...
 

lumpOgold

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#6

latemetal

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#7
I don't buy slabs period, I weigh and measure everything but 90% silver coins, and I may start on them too.
 

oldgaranddad

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#8
The fact that the person bought it from a Royal Bank of Canada branch and the bar was supposedly made by the Royal Canadian Mint is a bit unnerving. Both organizations have very strict asset tracking systems. My guess it is a man-in-the-middle scheme where some insider is pulling a fast switch-a-roo.

The authorities will find a perpetrator (guilty or innocent) since this is bad for business.
 

platinumdude

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#9
I buy only government minted coins, and I only buy brand new ones. Mainly because I don't want scratches. But if I'm ever in doubt, the ping test phone app is the way to go.
 

nowon

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#10
This site records known counterfeits and helps prevent being conned.

www.fakebullion.com

Welcome to the Fake Bullion Database!
This resource is intended to help dealers and stackers learn about counterfeits, evaluate existing inventory and collections, and make educated decisions about future purchases. Each database entry contains the physical specifications and detailed photographs of the fake item and, in most cases, a side-by-side comparison to the genuine counterpart.

Please note that this database is an ongoing project and is by no means exhaustive. We are always locating and documenting counterfeit bullion items and add new entries to the database each week. New entries in the Fake Bullion Database can only be viewed by donors for the first 60 days they are listed on the website. After 60 days those entries can be viewed by the general public.
Current Database Count
Items Available to the General Public:

Silver Bars & Rounds: 40
90% Silver: 0
Gold Bars & Rounds: 3
Platinum: 0
 

TomD

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#11
There is only the buyer's word that the bar tested is the same one bought. Without an assured chain of custody, I ain't buying the accusation.
 

GOLDBRIX

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#12
There is only the buyer's word that the bar tested is the same one bought. Without an assured chain of custody, I ain't buying the accusation.
It can depend on the length of doing business together, and of course getting the press involved did not hurt the jeweler. I seriously doubt this was a first time transaction between the bank branch and the jeweler.

This could have been a switcher00 by a bank employee in that department or as the bar was leaving the mint.

My guess is it was not cheap to make the fake and it took somebody or bodies with some skills to be involved in the creation of the fake.