Posted on 10/30/2017 2:01:49 PM PDT by Leaning Right
The Royal Canadian Mint is investigating how a sealed, "pure gold" wafer with proper mint stampings may in fact be a fake.
The one-ounce gold piece, which was supposed to be 99.99 per cent pure, was purchased by an Ottawa jeweller on Oct. 18 at a Royal Bank of Canada branch. Yet tests of the bar show it may contain no gold at all.
(Excerpt) Read more at cbc.ca ...
The Royal Canadian Mint said in a statement to CBC it is in process of testing the bar, "although the appearance of the wafer and its packaging already suggests that it is not a genuine Royal Canadian Mint product."
Hint: on the back it says “Made in China”
Inside job.......................
There was a movie in the recent past that had a plot like this....................
Fake just like their currency. I’m guessing Canadian Tire money was worth more? lol
Guy at a coin store showed me a packaged 1 ounce gold bar that was fake. The package had been opened for them to inspect the bar, but looked totally legitimate with even a hologram serial number sticker. The bar, which they had cut in half, was a lead bar with gold plate. The weight tipped them off. Buyer beware. I would never buy precious metals from anyone other than a reputable dealer, though I did see a pretty appealing 1 ounce gold bar on ebay for $29.99.
> Inside job....................... <
Somebody should check to see if Hillary toured the mint recently.
When I was in Australia, a freind attempted to sell some silver Australian coins. Australia had minted a few silver coins for a short period.
Two of the coins were fake. Wrong weight, wrong dimensions.
Good looking fakes, though.
It almost has to be an insider.
Replace the real gold with fakes, and nobody knows until one is sold..............
The best fakes are made using Tungsten, slightly lighter than gold. 19.25g/cm3 vs gold (19.3g/cm3)
American Morgans weigh more than Chinese Morgans. Lot of fakes out there. Legit US coins also have a distinctive ring when they’re spun on a hard surface. US coins made in China don’t ring right.
Really good fakes use tungsten instead of lead.
The weight is nearly the same as gold per unit volume................
19.30 g/cm3 u for gold
vs
19.25 g/cm3 for tungsten
vs
11.34 g/cm3 for lead
They don’t ling light?...........
Hint: if the “gold” is just a tin-foil wrapper and the coin is made of chocolate, unless it’s Halloween and you’re 6, you got ripped off.
For The People ...of course.
I used to rip off my brothers with coins like that when I was little.
I would open it carefully and get the chocolate out, then put it back together and not squish the imprint of the design on the foil and leave the empty coin for them.
Now you tell me, after I spent thousands on all that "gold". I just checked my stash:
Sometimes a cocktail napkin isn't the best place to write your company plan.
Tungsten is even worse than lead. It is close in weight and mass, and there are Chinese companies that are willing to sell 24K Gold Clad coins and even bars that the outside tests are pure gold, but the inside is tungsten. The mass checks right. The only test that catches them is to drill into the tungsten.
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