Anyone heard of fake certicarded bullion? I just bought an OPM bar and looking at it made me wonder. They look secure and I think there is a seal visible under UV light, but the Chinese are pretty sophisticated these days what's to stop them copying these?
If there is money involved everything and anything can be counterfeit these days, it's what the Chinese have built their lives on for century's.
You know I've often wondered if these ads on alibaba are simply planted there by competitors looking to destroy the reputation of a particular product in the market. Still waiting to see genuine evidence of a 1oz gold bar made from plated tungsten despite the alleged availability on the market for several years. I don't think people appreciate how much retail bullion gets destroyed for re-manufacture for examples not to have been encountered before.
Slightly OT - how does retail bullion get destroyed for re-manufacture? How would a fake bar be detected - through assay after melting, or by chopping the bar in half before melting?
I heard a story where someone selling back an ABC 100gr gold bar back to ABC, and it get cut in half straightaway after xrf. If every decent size bar that goes through from buyback had to be re-melted, theres part of the reason why some dealers buy back under spot.
Gotta hand one thing to Alibaba.com and Aliexpress.com--- They do provide the most encyclopedic and authoritative directories of PM round, bar and coin fakes that can be found in the world today.
from that link: We have been replica of gold coins and bars for many years, the replica coins and bars we made are unique and perfect, no other manufacture can take place, the material we use is tungsten inside and fine gold plating, as u know the density of tungsten is almost the same as original, and we use electroplating technology to plate the fine gold on it, so the dimension is the same as original. The replica apmex gold 1oz bar in assay is sealed perfectly, and it is really easy to resell. I just wanna tell u that most of our clients are regular clients, they buy coins from us each month and made big money, coz our coins are easy to resell. SCARY Stuff
And this: And there was that recent story by the Australian journalist who went to the manufacturing plant in China and bought fake Perth Mint bars ... Yikes.
Saw that, tho all the bars were singles and not in the certicard but surely it can't be that hard to fake. Think I'm going to start buying gold from dealers again and stck with PM only.
Under no circumstances, ever, would I attempt at any PM purchase from eBay, or anyone without direct contact, with the minimum being telephone. For precious metals, I am of the view that the genuine bullion dealers need to be supported, otherwise they may not profit enough, to be around. I'm lucky for the fact of where I am geographically, but then that is my lot. Now I know that many have had excellent experiences and continue to do so, and you bloody beauty, but it only takes one sting. Therefore for me, .....this forum, ftf, over the counter, or a bonefied trader seem to be the process for zero regrets. Thanks to all
