Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Tungsten-Filled 10 Oz Gold Bar Found In The Middle Of Manhattan's Jewelry District
zero hedge ^

Posted on 09/18/2012 7:08:59 PM PDT by Perdogg

It is one thing for tungsten-filled gold bars to appear in the UK, or in Germany: after all out of sight, and across the Atlantic, certainly must mean out of mind, and out of the safe. However, when a 10 ounce 999.9 gold bar bearing the stamp of the reputable Swiss Produits Artistiques Métaux Précieux (PAMP, with owner MTP) and a serial number (serial #038892, likely rehypothecated in at least 10 gold ETFs across the world but that's a different story), mysteriously emerges in the heart of the world's jewerly district located on 47th street in Manhattan, things get real quick. Moments ago, Myfoxny reported that a 10-ounce gold bar costing nearly $18,000 turned out to be a counterfeit. The discovery was made by the dealer Ibrahim Fadl, who bought the PAMP bar in question from a merchant who has sold him real gold before. "But he heard counterfeit gold bars were going around, so he drilled into several of his gold bars worth $100,000 and saw gray tungsten -- not gold. The bar was filled with tungsten, which weighs nearly the same as gold but costs just over a dollar an ounce."

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Crime/Corruption; US: New York
KEYWORDS: bar; district; filled; gold; goldbar; jewelry; manhattan; manhattans; middle; tungsten
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-96 next last
To: Wonder Warthog

Portable XRF Instrument:

http://www.niton.com/en/


21 posted on 09/18/2012 7:32:00 PM PDT by Wonder Warthog
[ Post Reply | Private Reply | To 19 | View Replies]

To: Perdogg

Frankly it sounds like manipulation of collateral to me.

I’m just learning the term so my understanding is petty rough.

If you borrowed from me and used your house as collateral and I borrowed from someone else and also used your house as collateral.


22 posted on 09/18/2012 7:32:28 PM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Wonder Warthog
No need. Portable X-ray Fluorescence instruments are easily available and can readily distinguish between tungsten and gold. Non-destructive, no cutting/shearing needed.

Thanks, Wonder.

Better living through (analytical) chemistry / chemical physics! (sound of grey_whiskers purring).

Cheers!

23 posted on 09/18/2012 7:32:56 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: DManA

The reason why tungsten is being used is because it has nearly the same density as gold.

They are going to have to resort to electromagnetic scanners or something.


24 posted on 09/18/2012 7:33:11 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Perdogg
Turns out ultrasound is useful for more than looking at fetuses.

http://www.youtube.com/watch?v=5FvM_4B7Pkc

Gold's density is 19.30 g/cc, whereas tungsten's is 19.25 g/cc. Assuming its outer dimensions were not changed, the 10 oz bar should be about 0.7 grams lighter.

25 posted on 09/18/2012 7:34:18 PM PDT by cynwoody
[ Post Reply | Private Reply | To 1 | View Replies]

To: DManA

I thought Archimedes solved this problem 2500 years ago.

A properly weighted gold/tungsten/lead bar would pass the Archimedes test...


26 posted on 09/18/2012 7:34:20 PM PDT by GraceG
[ Post Reply | Private Reply | To 18 | View Replies]

To: GraceG

It would not pass hydrostatic specific gravity measurement


27 posted on 09/18/2012 7:36:27 PM PDT by DocRock (All they that TAKE the sword shall perish with the sword. Matthew 26:52 Gun grabbers beware.)
[ Post Reply | Private Reply | To 26 | View Replies]

To: GraceG

Also people have wondered if Archimedes was capable of measuring the differences in water volumes precisely enough.


28 posted on 09/18/2012 7:37:46 PM PDT by DManA
[ Post Reply | Private Reply | To 26 | View Replies]

To: FlingWingFlyer

The Republicans just added a plank to the platform about auditing Fort Knox, throwing a bone to Ron Paul. Why do I have a feeling that even if Romney is reelecting and we take both houses of Congress that nothing will ever come of that?


29 posted on 09/18/2012 7:38:01 PM PDT by Boogieman
[ Post Reply | Private Reply | To 7 | View Replies]

To: Dr.Zoidberg

Or circulation golden eagles.


30 posted on 09/18/2012 7:40:15 PM PDT by DManA
[ Post Reply | Private Reply | To 12 | View Replies]

To: GraceG

An object denser than water will only displace its volume, so it would not matter if this was lead, copper, quartz, or gold. They all would displace the same amount of liquid given it has the same dimensions.


31 posted on 09/18/2012 7:43:27 PM PDT by LukeL (Barack Obama: Jimmy Carter 2 Electric Boogaloo)
[ Post Reply | Private Reply | To 26 | View Replies]

To: DManA
Civilization is founded on trust. No trust, no civilization.

True statement and fundamental as well.

Who can we trust today? Not our governments. Not our institutions such as universities, religious or even charitable institutions. The Hard Left has thoroughly infiltrated all of them and corrupted all of them.

When it reaches the point where we can not even trust one another, we become the 3rd world and all hell breaks lose.

32 posted on 09/18/2012 7:43:32 PM PDT by Ditto (Nov 2, 2010 -- Partial cleaning accomplished. More trash to remove in 2012)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Wonder Warthog
"Portable X-ray Fluorescence instruments are easily available and can readily distinguish between tungsten and gold. Non-destructive, no cutting/shearing needed."

XRF machines are about $15K and really only detect the surface of the metal under test. They are also a tad tricky to use. If a bogus bar was tungsten and merely gold-plated, it would probably fail such a test. But if it started out as a genuine PAMP gold bar and was then drilled, like the bars pictured below (which are silver, not gold, and with lead inserts, not tungsten, but I show them for the fakery technique) with tungsten rods inserted, I have some doubt an XRF assay would reveal the fake core(s).

Photobucket

http://www.youtube.com/watch?v=kyQSSmVcb6c

33 posted on 09/18/2012 7:48:23 PM PDT by Attention Surplus Disorder (This stuff we're going through now, this is nothing compared to the middle ages.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: DManA

His problem involved silver melted into the gold.
This is more insidious, in that tungsten and gold weigh nearly the same, so the volume is also nearly the same.......


34 posted on 09/18/2012 7:49:05 PM PDT by Red Badger (Anyone who thinks wisdom comes with age is either too young or too stupid to know the difference....)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Vince Ferrer
Just buy tungsten bars. If you buy a gold bar and someone fills it with tungsten, then you lose, but if you buy a tungsten bar, and someone fills it with gold, then whoopie!

LOL, excellent out-of-the-box thinking. If I should ever become President, I'm appointing you Secretary of the Treasury.

And I will require each cabinet member to use the word "woopie" at least once in every report.

35 posted on 09/18/2012 7:54:01 PM PDT by Leaning Right
[ Post Reply | Private Reply | To 8 | View Replies]

To: Perdogg

When my team finishes perfecting our molecular fabricator, which will make 4oz per hour of 24kt gold, the market will crash and burn.


36 posted on 09/18/2012 7:54:37 PM PDT by montag813
[ Post Reply | Private Reply | To 1 | View Replies]

To: DManA
Or circulation golden eagles.

Coins can be faked just as easily.

Gold Plated Tungsten Coin

Tungsten Heavy Alloy Fake Gold

Tungsten Heavy Alloy Fake Gold Application

37 posted on 09/18/2012 7:59:49 PM PDT by Vince Ferrer
[ Post Reply | Private Reply | To 30 | View Replies]

To: Perdogg

A government job. Only question is, which government?


38 posted on 09/18/2012 8:01:58 PM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Perdogg

those Chinese are so wild and crazy with their fake economy


39 posted on 09/18/2012 8:02:22 PM PDT by GeronL (The Right to Life came before the Right to Pursue Happiness)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ditto; DManA
When it reaches the point where we can not even trust one another, we become the 3rd world and all hell breaks lose.

Seems like all is going as planned.

40 posted on 09/18/2012 8:04:59 PM PDT by stevio (God, guns, guts.)
[ Post Reply | Private Reply | To 32 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-96 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson