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.
Put the bar in a hydraulic press and see if it bends. If it does, it’s gold.
Right, LOL. I’ll bet half the guys in the gold business there are wearing those Nolex watches and Ommy Hilfiger crap I used to see them peddling on the streets of NYC in the 1990s.
Pure tungsten is very hard — but, tool steel can cut it. OTOH, tungsten carbide is much harder than tool steel.
Chinese... Tungsten is not easy to work with. I believe south africa has dealt with this and the bars are coming out of china.
Or use a micro-ohmmeter which will clearly distinguish between tungsten and gold. They go for about $3,000 and I think every dealer on 47th street is gonna be getting one.
What weighs more a kilogram of gold or a kilogram of cotton candy?
Actually, in the earth’s atmosphere, the gold weighs more because of the buoyancy of the cotton candy.
A Maltese Falcon?
Yes, indeed. Thanks.
—yep—considering that the concept is three thousand years or so old, you’d think some of these financial geniuses would know about it-—
Au = 19320 kg/M*3
W = 19600 kg/M*3
Since W is more dense, this whole thing gets tough.
Go for the ultrasound solution.
Eureka!
“The ring would be suppressed by the gold coating......”
That would depend on how thick the plating was, I’d imagine.
I don’t have gold, but I do have identically shaped lead, iron, tungsten, aluminum, and bismuth bars and they all have a different sound.
In the olden days a gold coin was bit to see if it was real or gold plated lead. Maybe they should drive a nail through the bars before they buy.
Here’s to plain speaking and clear understanding.
If you kill me, how are you gonna get the bird? And if I know you can’t afford to kill me, how are you gonna scare me into giving it to you?
You’re right. I have done a lot of machining and just have a habit of thinking of all tungsten as tungsten carbide.
LoL, I meant would bars of the same size weight the same.
Hey I’m an old coot, gimme a break.
Boy am I glad to have that settled.
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.