Mislabeled APMEX 10 oz bars
- Thread starter Torcan
- Start date
Where did they source these from? Looks like what someone would use to gold plate and make fake 10oz gold bars from.
They may not even be silver. I would be weighing and XRFing those stat.
They may not even be silver. I would be weighing and XRFing those stat.
Very bizarre - the dimensions of those two bars are completely different.
Silver - 91 x 52mm
Gold - 58 x 37mm
They look the same size in that picture. Wonder if the manufacturer screwed up making one of the dies recently and made a gold die in the silver size.
Silver - 91 x 52mm
Gold - 58 x 37mm
They look the same size in that picture. Wonder if the manufacturer screwed up making one of the dies recently and made a gold die in the silver size.
Sneakypeen
Active Member
If it turned out to be white gold then 22K (chances are that is what it would be) would be worth at melt USD $11,408
Torcan said:
If I got something like that, I would keep it, open it up and test to make sure it was real silver. If it's real, then it could potentially have collector's value in the future as an error bar. Worst case, it's fake and you can return it for a full refund, but best possible outcome is that it's really gold (doubtful
)
You can be assured there's no 22K white gold bars being made.
Assuming APMEX are not lax enough to allow a fake buyback slip into circulation (and from what I've seen they run a very tight ship, so chances of this are infinitesimally small), it would be a die error during manufacture.
Certainly a collectible error bar though
Assuming APMEX are not lax enough to allow a fake buyback slip into circulation (and from what I've seen they run a very tight ship, so chances of this are infinitesimally small), it would be a die error during manufacture.
Certainly a collectible error bar though
The thing that comes to mind for me is that they have, or had an employee that was not on the up and up and was planning on taking these, plating them offsite and selling as gold.
APMEX would never divulge something like that, but these kinds of errors are not common, they are out of the realm of possibilities without some prior planning.
(as another poster said, the size of the gold and silver bars are so different, in relationship to the dies that would be used)
it would not be possible without a deliberate attempt.
My guess is someone got caught, but not before a few made it out of the factory. Possibly the mint that has the contract to mint those bars for APMEX. Something broke along the way, and it leads back to the manufacturer.
APMEX will now be running damage control, especially since the original recipient of the said bars decided to go public with the error.
APMEX would never divulge something like that, but these kinds of errors are not common, they are out of the realm of possibilities without some prior planning.
(as another poster said, the size of the gold and silver bars are so different, in relationship to the dies that would be used)
it would not be possible without a deliberate attempt.
My guess is someone got caught, but not before a few made it out of the factory. Possibly the mint that has the contract to mint those bars for APMEX. Something broke along the way, and it leads back to the manufacturer.
APMEX will now be running damage control, especially since the original recipient of the said bars decided to go public with the error.
Error bars are a strange thing. They can attract a high premium. I assume you bought these as they are a low premium bar so really why not roll the dice and keep them to see if they do attract a novelty value. Any dealer with an XRF will be able to test them when its time to sell so if its 10oz of silver the stamp won't diminish the value of them as a low premium bar.
I say keep em.
Or for shits and giggles why not auction one here and see if there is a premium to be had on these error bars. (so long as they are XRF certified as being .999 silver and not zinc/cu
)
I say keep em.
Or for shits and giggles why not auction one here and see if there is a premium to be had on these error bars. (so long as they are XRF certified as being .999 silver and not zinc/cu
)
APMEX Inc.
New Member
These are not counterfeit bars. We unfortunately had an error at the mint where our bars are produced where the wrong die was used for the bar. We have check points to catch mistakes like this, but a few bars were not caught and were unfortunately sold to customers. We have reached out to those few who did receive the bars in an effort to trade them out. This is an embarrassment for our company but something that did happen. The bars are silver, not white gold, and customers had the option to keep or exchange the bar.
Nabullion Dynamite
Active Member
Interesting, from the sounds of this from "Apmex" this is very rare...I would keep!
+1iluvbeanz said:Hi APMEX, welcome to the forum
Is it possible that we actually request an error bar? I figured that would be cheaper for you guys instead of sending them back to be remelted.
.
If there's a group buy, I'm in for a couple