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Fake Branded Bars Slip Dirty Gold Into World Markets

ShadyDaveShadyDave Posts: 2,201 ✭✭✭✭✭
in Precious Metals

Interesting article talking about forged gold bars allegedly identified by Swiss refiners. The bars are real gold, but the makers marks are allegedly fake to hide the origins of the gold.

https://www.reuters.com/article/us-gold-swiss-fakes-exclusive/exclusive-fake-branded-bars-slip-dirty-gold-into-world-markets-idUSKCN1VI0DD

Comments

  • OPAOPA Posts: 17,124 ✭✭✭✭✭

    Good ole China, once again the culprit. But at least they are made of real gold.

    "It is not clear who is making the bars found so far, but executives and bankers told Reuters they think most originate in China, the world’s largest gold producer and importer, and have entered the market via dealers and trading houses in Hong Kong, Japan and Thailand."

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,364 ✭✭✭✭✭

    Wow. Real gold, fake brand. Sounds like business as usual in some provinces.

  • CaptHenwayCaptHenway Posts: 32,236 ✭✭✭✭✭

    A lot of the old school common date counterfeit U.S. $20's were made with good gold made into a form that could evade certain restrictions on gold. In some ways these bars are doing the same thing.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭

    Just black market gold trying to be brought into the system.

  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    china has import and export restrictions which would have to be evaded for what reason? also, china mines its own gold. their central bank is collecting it.

    my guess is this is black market gold mined illegally in some country. if it is a huge amount of gold, then my guess would be Venezuela who has to get around sanctions.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • HemisphericalHemispherical Posts: 9,370 ✭✭✭✭✭

    @Jinx86 said:
    Just black market gold trying to be brought into the system.

    Reminds me of this thread.

    https://forums.collectors.com/discussion/1023251/1-600-lbs-of-gold-stolen-at-brazil-airport

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    OK... real gold but fake identification.... :D Yep... there is a scam there somewhere... I will take the gold though, at a discount... ;) Cheers, RickO

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