Fake gold

Discussion in 'Financial Cents' started by oil pan 4, Mar 4, 2017.


  1. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Gator 45/70 likes this.
  2. oil pan 4

    oil pan 4 Monkey+++

    My 50gm bar I sold last week gave weird readings on the inductive gold sensor tool the gold and silver shop uses to check purity and wholeness, they didn't want to buy it. I don't know if it gave weird readings because it was a long thin bar or if it wasn't pure or if it had been drilled out and had tungsten rods put in it.
    It gave some weird readings on the 90% oe 22kt detection setting but it was not consistent.
    Luckily apmex bought it back.
    So do not ever buy bars or anything bigger than 1 ounce and when you do buy 1 ounce bars, get wide flat items like coins or Swiss and perth bars.
    Don't buy random 2nd market grab bag items.
     
    Last edited: Apr 5, 2018
    Ganado likes this.
  3. Idahoser

    Idahoser Monkey+++ Founding Member

    buying from a reputable dealer should cut down on the chance of getting bogus metal, but you need to be able to test for yourself. The value of precious metals is in their inability to be faked (well enough to pass any test). I've been thinking about (for a few years) getting a set of those Fisch testers, and then only buying when I have a tester for the shape.
    If it got to where that could be beaten, I wouldn't trust the gold any more than the paper funny munny.
     
  4. BTPost

    BTPost Stumpy Old Fart,Deadman Walking, Snow Monkey Moderator

    Keep the receipt of ever and ALL Gold trasactions... Then if you get burned by a Dealer, with fake Product, sue him for redress, and if he refues, then sue him for Fraud... Such a suit, will put him out of Business, if successful, so he will settle long before it ever gets that far...
     
  5. oil pan 4

    oil pan 4 Monkey+++

    I bought that 50gm bar from apmex and they took it back.
    I'm just saying it didn't pass the non destructive inductance inspection.
    The ultimate way to know for sure would be to hammer it out and acid test.
    A high Kv x-ray would tell if if it's not a homogeneous mix of metal. A high powered x-ray mass spectrometer would tell you every element or chemical and how much it's made of, but that's the ultra high tech way.
    But I don't understand how a solid rectangular bar would give those readings. All their gold and the other gold I have goes straight to a normal 24kt reading every time.
    It's like my bar wasn't homogeneous.
    Maybe we should buy industrial grade 99.99% pure gold shot. Hammering it and dunking it in acid won't hurt it's value.
     
  6. ghrit

    ghrit Bad company Administrator Founding Member

    I did NOT know about gold shot.
    24K Yellow Gold Casting Grain
    Not quite what I would use on the trap range ---
     
  7. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Silver for Vampires , GOLD for Witches of past @ghrit
    ;)

    I use a ultrasonic thickness meter .0000 gram scale and have acids plus.
    I buy minted bars to cast bars .

    I have no problem selling or reselling

    Sloth
     
    Last edited: Apr 6, 2018
    ghrit likes this.
  8. Mountainman

    Mountainman Großes Mitglied Site Supporter+++

    Why Sloth, from what I remember it was silver bullets for werewolf's and stakes in the heart for vampires. You hosers might kill them a little different, lol. Just messin with ya.
     
  9. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Could be , I don't know all your movies or stuff . ..

    The Witches of past are EX wifes ..
     
    Last edited: Apr 6, 2018
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  10. oil pan 4

    oil pan 4 Monkey+++

    Yeah, I'm never buying cast bars again.
    Pressed, minted and 1 troy ounce or less for this guy.
    I'm buying mostly coins or gold shot.
    I figure you can make change with gold shot, as opposed to cold chiseling a coin or bar apart.
     
    Ganado likes this.
  11. Ganado

    Ganado Monkey+++

    I think you are right on trac @oil pan 4 and im more conservative because my perspective has always been..... what is my exit strategy, not my holding strategy. I dont invest if i dont have an exit strategy.
     
    Cruisin Sloth likes this.
  12. oil pan 4

    oil pan 4 Monkey+++

    I'm the same way.
    This is why I only want to buy Pd, Pt, Rh, Ru at multi year lows so I can sell in as little as 6 months and take little to no loss, just incase something comes up.
    If I mess up and buy in too early, say rhodium was at 600 an ounce then dropped to 300, double down and buy more, hopefully a lot more.
    The final solution is to ultimately get more and more silver and gold. So just maybe I don't work have to work my self to literally death.
    And get a little tast of how the hyper thermal economy works along the way.
     
  13. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Stagecoach coins were around years ago In AG & AU
     
  14. Ganado

    Ganado Monkey+++

    so this may be a dumb questions and im gonna ask it anyway, how do you test the other metals you buy for fakes? how do you test Rhodium or any of the others.

    I get gold, silver and platinum but i really dont understand the other metals and their end uses or what is needed for purity testing
     
    Last edited: Apr 7, 2018
  15. Cruisin Sloth

    Cruisin Sloth Special & Slow

    All things buzz or don't at a set vibration frequency , generate that set frequency vibration of frequency wave lengths , then if your doing AU / GOLD the sound velocities of AU is 3240 , AG silver is 3600 , PD 6020 ect.

    So measure the thickness with this meter , and compare with a micrometer or vernier caliper .. Mine read with a thou or so.
    Then the weight must be in Troy OZ's and exact .

    I'll look for the meters & post
    Sloth






    Need more ?
     
    Last edited: Apr 7, 2018
  16. Ganado

    Ganado Monkey+++

    Sloth did you post a chart oor something? i cant see it if you did
     
  17. oil pan 4

    oil pan 4 Monkey+++

    Well there is only one US supplier for rhodium bars so if you buy from them you should be fine.
    Buy 1 ounce not 5 ounce bars, for 2 reasons. So they are less likely to be drilled out and filled in with something and so when you do sell it you're not doing a single transaction of more than $10,000.
    I bought a 5 ounce bar, so I'm kind of stuck.

    Having a known real item can help too. I saw a fake Perth mint bar at the gold and silver shop. It weighed 1 troy ounce, but it was more than double the thickness of a real 1 ounce gold bar.
    They could make it dimensionally correct but then it would only weigh around 12 to 15 grams. Not 31.1g like a troy ounce.
     
    Ganado likes this.
  18. Cruisin Sloth

    Cruisin Sloth Special & Slow

    I post type & two u-tubes .. I did smoke out a DSL modem & a router two days ago .
    But i still can see the post & uploads
    @Ganado

    Sloth
     
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