Posted on 09/25/2012 2:02:08 PM PDT by djf
In the aftermath of Wednesday’s report of a tungsten filled 10 oz PAMP gold bar discovered in Manhattan, it appears we now have an epidemic on our hands, as the NY Post has just reported that a total of at least 10 tungsten filled gold bars have now been discovered in Manhattan.
The NY Post reports:
The Post has learned as many as 10 fake gold bars — made up mostly of relatively worthless tungsten — were sold recently to unsuspecting dealers in Manhattan’s Midtown Diamond District.
The price of gold has risen more than 600 percent since January 2000, while the S&P 500 index is down 0.6 percent over the same period.
The 10-oz. gold bars are hugely popular with Main Street investors, and it is not known how many of the fake gold bars were sold to dealers — or if any fake bars were purchased by the public.
Ibrahim Fadl, the dealer who originally discovered the tungsten filled gold bars apparently purchased 4 tainted bars:
One gold dealer discovered that four of the 3-inch-by-1-inch gold bars he bought — worth about $72,000 retail — were counterfeit.
“It has the entire street on edge,” said Ibrahim Fadl, 62, who has been the owner of Express Metal Refining, a Midtown gold-refinery business, for the last 11 years. “I and the others on the street work off of trust; now that trust is strained.”
Federal agents have discovered a 2nd dealer purchased 6 of the tungsten bars: A second 47th Street refiner, who wished to remain anonymous, said he was burned recently when he bought six gold bars that turned out to be mostly tungsten, with just a gold veneer. He would not comment, though, on who sold him the bogus bars.
I think its pretty close
The density of tungsten is very close to that of gold. If both bars were exactly the same size, a pound of gold, the tungsten one would be about a half-gram lighter.
They are going to have to resort to other tests, than just weighing it.
Yep. Interesting timing on discovering what has been rumored for years.
QE3, a presidential election, a major war in the ME...
From Wikipedia:
“Gold-plated tungsten is available commercially from China (the main source of tungsten), both in jewelry and as bars.[58]”
What a surprise.
Check out this chinese company, via Zerohedge:
“Get Your Fake Tungsten-Filled Gold Coins Here”
From the website’s Tungsten Heavy Alloy Scan Gold Coin section:
Tungsten is the only lower value metal that has a specific density close enough to gold to fabricate passable counterfeit pieces of the same size and weight as genuine Pictures of tungsten fake gold coins and ingots. Over the years, there have been a few isolated reports of smaller tungsten fake gold coin found to have been drilled to remove some of the gold which was replaced with tungsten. However, tungsten fake gold coin is far more profitable to fabricate larger original bars of tungsten that are then scanning gold.
Because the existence of counterfeit tungsten fake gold coin could have such a huge impact on the financial markets, there is a huge potential for deception and misinformation to be passed around. Be very careful about automatically believing any story you may hear. For your own protection, tungsten fake gold coin would be better to take physical possession of the smaller sizes of tungsten fake gold coins and now, and know that what you own genuine solid tungsten fake gold coin. [ZH: reread that sentence: “genuine solid tungsten fake gold coin”]”
http://www.zerohedge.com/news/2012-09-24/get-your-fake-tungsten-filled-gold-coins-here
http://blogs.reuters.com/felix-salmon/2012/03/25/the-problem-of-fake-gold-bars/
Gold is far more conductive than tungsten and slightly denser.
X-ray crystallography requires making a powder of the sample, it is not non-destructive in the sense that the sample cannot retain its form.
Does 100 oz of tungsten weigh exactly what 100 oz of gold does?
Of course they do!
And 100 oz of gold weighs exactly as much as 100 oz of cotton candy!
People seem to be having a little truble with this one...
;-)
and your address is
No. Tungsten is measured in avoirdupois ounces, gold is measured in troy ounces...
From what I can tell, ultrasound and volume resistivity are two tests that can be used. Also water immersion specific gravity.
1941 Falcon St, Malta
On a pawn shop show on TV they drilled about 4 holes into it and tested the shavings to make sure it was real
-—checking the handy periodic table—W (tungsten ) atomic weight 183.84-—Au (gold)-—— 196.97
Then we’ll learn our paper money is not worth that much either...
LOL, Thanks, I’m on my way
I agree.
Take your gold bars to you OGBYN and have them take a look.
No, really. Do it.
OGBYN = OBGYN
Sorry.
Yes. Same with 100 oz of feathers, or 100 oz of lead or 100 oz of air.
:)
They all weigh the same.
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