Fake One Ounce Gold Ingot

[walnuttree]

Oh, I don't think I posted about this before. Last year at a yard sale someone was selling fake gold one ounce bullion, along with a bunch of other stuff they had. There were Australian, Canadian and Swiss Credit Suisse bars. I think they were actually covered with a thin layer of gold. She was honest and told me they were fakes, but you couldn't tell by looking at them and feeling the weight, they were perfect imitations. So I bought one and considered it a valuable lesson that there are such fakes floating around, looked them up and found that there is a factory in China that will make any fake bar you want! So buyer beware!! The one i bought says credit suisse and has a serial number and looks legit, feels legit, but take a magnet to it and wallah, it's tungsten I think, i sawed it in half to see. Imagine if some unscrupulous seller mixed some in with legit bars!? And i believe that they make fake old coins too and they don't always have the word copy on them. Buyer beware!

 

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[ChampFerguson/TN]

The chinese also make fake coins, including silver US dimes. The one ad I saw said if your order was seized by US Customs, they would ship a replacement order at no charge.

walnuttree, I had a similar experience with fake reales being sold at a local coin ship. The were barely marked 'copy' on the reverse and the owner hinted how easy it would be for me to make an 'accidental' scratch at that site and obliterate the word. The coin itself was magnetic and well underweight. Anyone knowing silver would know it isn't real for its lack of heft.

I did buy one with the thought of wowing strangers on the beach when I get the old "Found anything? smirk".

 

[Duckshot]

Some coin shops even have been fooled. If you acid test an ingot enough it can lose its weight.

A one troy ounce gold ingot must have a volume of 1.61 cc. If the volume of a one troy ounce 24K gold ingot is more than 1.63cc, and it weighs out, it ain't gold.

 

[Molewacker]

Oregon Teens Make 50,000 Selling Fake Gold Bars On Craigslist | Kitco News

It happened here -

 

[hvacker]

A tungsten weighs almost the same as gold. It's close enough to throw a cheap scale off especially
if someone really wants to believe. If in doubt, drill then fill. With any gold the % also has to be known.
Trust and verify.

 

[walnuttree]

trying to post pics

 

[walnuttree]

 

[walnuttree]

I scratched an X on it before i decided to saw it in half to forgo anyone mistaking it for real

 

[walnuttree]

If China is making fake bullion and fake coins isn't that an act of war? They are deceiving/undercutting the precious metals market and also making fake US coins will cause people to wonder if the real old coins are genuine and people will lose faith in both markets. Yet, we are on friendly terms with them and many of our US companies make their goods there but are headquartered here in the US!? SO CHECK your gold and silver bullion and your bought old coins, unless you dug it out of the ground it could be a fake. China is not that innovative but are excellent copiers to a degree. Didn't they have gunpowder/black powder yet did not think to design a gun to use it in, maybe a bottle rocket spear launcher thingy but not no blunderbuss.

 

[ivan salis]

SCAMMERS OFTEN GET FAKE MORGAN DOLLAR COINS ...AND THEN PROWL AROUND A GAS STATION SAYING TO FOLKS HOW THEY HATE TO PART WITH THE COIN THAT GRANNY OR GRANSPA GAVE EM BUT THEIR HARD UP.... OFTEN THEY ASK FOR 20 BUCKS AND ONCE THE CASH IS IN HAND THEY HAUL BUTT----ALWAYS CHECK WITH A MAGNET --MOST FAKES HAVE A STEEL CORE AND WILL STICK

 

[AlienLifeForm]

Funny thing, I saw the same thing at a yard sale a few months ago but the 'gold' layer was peeling. To their credit they weren't trying to sell it as real, but at $1 I left without it.

 

[smokeythecat]

I only buy slabbed coins from reputable dealers. I only have a few....like 5. Not big into coins unless I find them myself.

 

[fistfulladirt]

I only buy slabbed coins from reputable dealers. I only have a few....like 5. Not big into coins unless I find them myself.

The Chinese are producing very convincing slabs nowadays, good enough to fool some dealers.

 

[hvacker]

I am surprised by just what will be copied. I sometimes go to an indoor flea market and have seen copies of things I didn't think there would be a market for. Old cast iron mechanical banks I can understand but I've seen other things that leave me wondering. The things often have the "Made In China" sticker on them so it's not fraud but stickers easily come off.
It's like having anything in demand and If there's a market, it will probably be copied.

What's really surprising are the Certificates Of Authenticity so often used to indicate the object is real. When it's a lot easier to forge the certificates than the object. Usually just a meaningless piece of paper unless the energy is spent to authenticate the authentication.