November 10, 2016

Gold Coin Counterfeits Cause for Concern

All that glitters is not necessarily gold. The current surge in the spot price of the yellow metal may have brought out investors, but it has also brought out the counterfeiters.

 

Article courtesy of NumisMaster

Caution is now the watchword when purchasing gold coins. Alarm bells have been sounded, but just how loudly they are ringing is open to debate.

At the heart of the problem is the metal composition of the most currently produced counterfeit gold coins. Since the traditional way of detecting fake gold coins is to weigh them counterfeiters are now using tungsten, which has a similar weight to that of gold.

According to an Aug. 6 Wall Street Journal newspaper report, “The mix of metals has improved the look and feel of fake gold, while online marketplaces such as eBay and Alibaaba have made it easier to sell these products worldwide.”

Additional information can be found HERE.