Fake Gold Bars Turn Up in Manhattan
Gold dealer shouldn't complain -- at least he got metal, not paper
Submitted by cpowell on Wed, 2012-09-19 01:32. Section: Daily Dispatches
Fake Gold Bars Turn Up in Manhattan
From WNYW-TV5, New York
Tuesday, September 18, 2012
http://www.myfoxny.com/story/19578206/fake-gold-bars-turn-up-in-man...
NEW YORK -- In jewelry stores on 47th Street and Fifth Avenue the important trust between merchants has been violated. A 10-ounce gold bar costing nearly $18,000 turned out to be a counterfeit.
The bar was filled with tungsten, which weighs nearly the same as gold but costs just over a dollar an ounce.
Ibrahim Fadl bought the bar 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.
What makes so devious is a real gold bar is purchased with the serial numbers and papers, then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up. That is a sophisticated operation.
... Dispatch continues at http://www.gata.org/node/11756 ...
Comment
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Comment by Less Prone on September 21, 2012 at 3:20pm
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Copper is a great malleable metal. You can make almost any kitchenware of it, quite easily.
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Comment by TheLasersShadow on September 20, 2012 at 2:08pm
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I agree Tara gold is for storing wealth so after the depression collapse is over when legit trade and order starts up again you can convert back to a currency or invest. I don't own gold just silver, food and guns.
People are going to try to rob you for anything! If you have just a small amount of food people are going to try to rob you. Best solution is to have a handgun on the hip and to be very good with it along with always having your favorite rifle very close by at all times. We're going to have to harden ourselves and be ready to defend ourselves with lethal force. If your not able to do that you will be a victim. The Ghandi routine and being a nice person won't cut it.
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Comment by Tara on September 20, 2012 at 1:49pm
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I agree DTOM! And also, food is of the greatest value in desparate times. You certainly can not eat gold bars unless... you get a Willy Wonka bar with a golden ticket ;)
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Comment by DTOM on September 20, 2012 at 7:38am
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I've reached the opinion that it would be foolish to trade with gold.
Word gets out you have gold, unsavory individuals will automatically assume that you have more gold +XYZ and will come to get it.
I think that in a post-collaspse scenerio it's going to be raw stock and materials that cannot be produced outside of specialized industry that would be desirable.
Silver, tungsten, lead etc.
Copper pipe and wire would be better than bars, and have more practical use. Old copper coins too, for general trade.
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Maybe we should start buying tungsten bars, instead of gold. Certainly they would not be fake. More options; platinium, silver, copper ...
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