Warning Investors: Tungsten-Filled 1 Kilo Gold Bar Found

I just wanted to give anyone that invest in gold a little heads up. Once again gold bars filled with Tungsten have been discovered. Watch closely what you are putting your money into!

www.economicpolicyjournal.com...

Australian bullion dealer ABC Bullion is reporting that one of its suppliers has provided them photographic evidence of a tungsten filled 1 kilo gold bar,. The bar passed a hand-held xrf scan which showed 99.98% pure AU. The tungsten was only discovered when the bar was physically cut in half.

After numerous reports of 400oz tungsten filled bars being discovered in Hong Kong, this is the first documented and verified report with photographic evidence that has been made public, states Silver Doctors. ABC Bullion is a major player in the gold bar business and thus this report should be taken seriously

www.zerohedge.com...

The last time a story of Tungsten-filled gold appeared on the scene was just two years ago, and involved a 500 gram bar of gold full of tungsten, at the W.C. Heraeus foundry, the world's largest metal refiner and fabricator. It also became known that said "gold" bar originated from an unnamed bank. It is now time to rekindle the Tungsten Spirits with a report from ABC Bullion of Australia, which provides photographic evidence of a new gold bar that has been drilled out and filled with tungsten rods, this time not in Germany but in an unnamed city in the UK, where it was intercepted by a scrap metals dealer, and was supplied with its original certificate. The reason the bar attracted attention is that it was 2 grams underweight. Upon cropping it was uncovered that about 30-40% of the bar weight was tungsten. So two documented incidents in two years: isolated?

Here is a thread on ATS about the tungsten-filled gold bar from a couple years ago.
www.abovetopsecret.com...

I have a feeling that we'll be seeing more of these turn up in the future. With the price of gold these days, it doesn't surprise me that they are finding these. Beware what you are buying!

More humans trying to make a quick buck. Nothing out of the ordinary here

this is old and a "secret" because if people would know they would loose their trust in gold and silver...

US Sells Fake Gold Bars to China
www.exohuman.com...

reply to post by AaronWilson


No there's nothing new about people trying to fake gold, but this is a first for photographic evidence of the tungsten-filled bars proving that that gold and other metals are not always a safe investment. I'd bet there are alot of these in investors hands that don't know that they got screwed.

reply to post by Hessdalen


Thanks for that link. A very informative read.

reply to post by isyeye


Im sure of that too. My dad tends to trade in gold, he actually has a glass framed gold bar in his office. Screwed down to the table and locked with 2 different combo locks. Pretty cool to feel how dense and heavey it is.

reply to post by AaronWilson


I have a few friends that invest heavily in gold and other precious metals. They have been trying to convince me of the safety of investing in gold for quite some time. This is just another example of how the metals industry in also a target for criminal activity. Personally, I have never seen the value in gold.

this game of musical chairs has been ongoing for some time now. wonder when the dj is going to hit the pause?
i would love to hear of everyone with paper gold to demand custody of the physical at the same time. that would be interesting. how about those who cannot produce are immediately stripped down and re-distributed after the bottom tiers are recompensed?
rant over.
f

I'd like to bet those things have been mass produced - they're not going to make all the changes needed in production just for one or two pieces - they'll be slipping them in among the orders.

oh sweet jesus, is there anything on this planet actually worth what it says on the tin?

yet another blow to my faith in global humanity

Originally posted by Hessdalen
this is old and a "secret" because if people would know they would loose their trust in gold and silver...

US Sells Fake Gold Bars to China
www.exohuman.com...

edit on 25-3-2012 by Hessdalen because: mindcontrol

Normally I would say hold the government accountable. Since its China though, and they have a long history of selling items which contain banned materials / chemicals, I wont lose sleep over that.

Most reports i have seen on the net are saying that this bar was discovered in the UK. But i have not seen a single report from any of the UK news agencies confirming this.

Is this a UK news blackout? Or is this a false report?

reply to post by PhoenixOD


I did some searching, and from what I've found it seems more of a MSM blackout. Sites dealing with metals are reporting it, as well as sites like ATS, but I haven't found any story from MSM. From what I've been reading, these bars appear to go back to a scam started at Fort Knox. I think they don't want to report on this story because of several reasons.

It makes the US government look really bad if it is proved that they originated from the US, and they don't want to cause a panic in the gold markets. A serious decline in gold could be the beginning of the end for our world ecomony.

reply to post by isyeye


I think its quite suspicious that sites that are dealing in precious metals are reporting it. Maybe they are trying to drive up the price of silver?

reply to post by PhoenixOD


That's a possibility, but I think there's a little more to it.

Here's what ABC Bullion (who initially reported this story) is saying:

Source

At ABC Bullion we always recommend that you only purchase bullion from a well established dealer whose core business is bullion trading. See the Common Traps section of our website to help avoid issues when buying bullion.

Many pundits in the gold commentary space have commented on tungsten filled gold bars for many years, most notably Jim Willie, whilst the following does not prove his theories that US Treasury gold is compromised, it certainly makes the case more compelling.

ABC Bullion received the following email from one of our trusted suppliers this week.

Note:

It was not ABC Bullion that purchased this bar, the email and photos were sent to us as a general warning.
I xxxx'ed out the city's name to avoid any second guessing as to the name of the dealer.

19/03/2012:

Attached are photographs of a legitimate Metalor 1000gm Au bar that has been drilled out and filled with Tungsten (W).

This bar was purchased by staff of a scrap dealer in xxxxx, UK yesterday. The bar appeared to be perfect other than the fact that it was 2gms underweight. It was checked by hand-held xrf and showed 99.98% Au. Being Tungsten, it would not be ferro-magnetic. The bar was supplied with the original certificate.

The owner of the business that purchased the bar only became suspicious when he realized the weight discrepancy and had the bar cropped. He estimates between 30-40% of the weight of the bar to be Tungsten.

This is very worrying and reinforces the lengths that people are willing to go to profit from the current high metal prices. Please be careful.

Judging from the information we have about this story, it's hard to tell if this is a real, or a faked report. This whole thing sounds very similar to the fake bonds that David Wilcox has been writing about. It could be a very important story, or it could be complete BS....in both cases, the US is being pinpointed in faking something of value and passing it off to the Chinese....either someone is trying to create a lack of faith in modern global monetery systems, it's just "normal" criminal activty, or it's true...

Originally posted by isyeye
reply to post by AaronWilson

 

No there's nothing new about people trying to fake gold, but this is a first for photographic evidence of the tungsten-filled bars proving that that gold and other metals are not always a safe investment. I'd bet there are alot of these in investors hands that don't know that they got screwed.

reply to post by Hessdalen

 

Thanks for that link. A very informative read.

edit on 25-3-2012 by isyeye because: (no reason given)

If they dont know and the buyer does not know then they are not screwed. It only messes with market.

Doctor Peter Beter has been warning about tungsten filled gold bars since the 70's. He actually had a sort of "podcast" between '75 - '82 where you could call a certain number and listen to his show. He covered the tungsten gold scam quite frequently.

All his broadcasts are now available free online, I just don't remember which ones mentioned the tungsten.
peterdavidbeter.com...

Tungsten in its pure form has a slightly lower specific gravity than does gold. It could be proven by measuring the displacement of a gold bar versus its weight. Tungsten carbide has a far lower s.g., and so couldn't be used---must be pure tungsten.

I can see the problem. It goes hand in hand with investing in gold but not holding the physical goods.
I imagine a lot of people will come out empty handed when there is a run on getting a hold of all the non-existent gold. I don't think fake gold is as rampant as fake inventories.

So anyway, I know people who have been to ABC to sell gold and were told it was much lower than what they thought. That might sound suspect, but it was over karat and they were lying to their customer so they would pay a lower rate.

Even the best gold testing technology are very subjective.

reply to post by dr_strangecraft


They can always just use samples of the bars they have. Tungsten is used because like Gold it has a very high melting point (hence it's use in welding torches).

I will be extra carefull when i buy 400oz bars from now on. If i did get screwed on a $680,000 gold bar, it would set me back a few weeks in my investment strategy. Thanks for the heads up.