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More Fake Gold Bars Found

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Bedrock of the Community
sel_69l's Avatar
Australia
21788 Posts
 Posted 10/22/2012  6:49 pm Show Profile   Bookmark this topic Add sel_69l to your friends list Get a Link to this Message Number of Subscribers
The Chinese are at it again.

This time, they are striking at the products of the Perth Mint. Tungsten cored gold plated bars are being produced.
The Perth Mint have asked the Australian Federal Police to investigate, but they will NOT be able to stop their production, because it is outside their jurisdiction.

It will only be an offence to try to sell them in Australia as genuine.

It must be remembered that is not an offence in China to produce these products under Chinese law.

That also explains why so much high quality software is pirated.
Pillar of the Community
noahs-numismatics's Avatar
Canada
3167 Posts
 Posted 10/22/2012  6:59 pm  Show Profile   Bookmark this reply Add noahs-numismatics to your friends list Get a Link to this Reply
UUUUUUUUUUUUGGGGGGGGGGHHHHHHHHHH!

What more can I say?
Pillar of the Community
United States
648 Posts
 Posted 10/22/2012  7:03 pm  Show Profile   Bookmark this reply Add tripncoins to your friends list Get a Link to this Reply
Sounds about right. China copies everything.
Valued Member
United States
117 Posts
 Posted 10/22/2012  7:35 pm  Show Profile   Bookmark this reply Add Eupion to your friends list Get a Link to this Reply
Seriously. I friend of mine told me, our Patent Office is the Chinese Invention Office. I'm sure it's like that everywhere else.

The funny thing is, there are laws in china that are suppose to prevent things like this. There's just to much corruption to prevent it. Villages pay off the local officials to make counterfeit items and ship them. Saw this documentary about it, mainly with clothing and bags and other fashion related items, but I'm sure it's the same for everything else. But yeah, in the documentary, there were all these villages that providing everything you needed. From labels to tags, from the right patterned material to bag handles. Basicly, this whole village specialized in making counterfeit bags. Another did clothing. I'm sure there's a smelting village just raking it in, somewhere out there.
Pillar of the Community
swrbxxx's Avatar
Canada
834 Posts
 Posted 10/22/2012  7:51 pm  Show Profile   Bookmark this reply Add swrbxxx to your friends list Get a Link to this Reply
As much as it sucks that china is producing these Copies

A part of me is always impressed, I have to give it to china, for always trying
Bedrock of the Community
basebal21's Avatar
13014 Posts
 Posted 10/22/2012  8:25 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Im a little surprised it took this long. Theyll eventually be pumping out fakes of anything even remotely popular.
Pillar of the Community
macmercury's Avatar
United States
5837 Posts
 Posted 10/22/2012  8:51 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
Here's another post with the same discussion with link to Channel 7 News.
Edited by macmercury
10/22/2012 8:54 pm
Pillar of the Community
macmercury's Avatar
United States
5837 Posts
 Posted 10/22/2012  8:52 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
I must of hit reply twice.
Edited by macmercury
10/22/2012 8:53 pm
Pillar of the Community
Fat Freddy's Avatar
United States
1200 Posts
 Posted 10/22/2012  9:23 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
This kind of nationalized effort at counterfeiting and forgery is outrageous, but it certainly provides an interesting (& I think indisputable) insight into how much value Chinese culture, society, government and individuals place on the concepts of "morality," "credibility," "integrity," "dignity" & "honesty." It also reflects how the spirits of dishonesty, theft, forgery, counterfeiting & economic parasitism are intrinsic to the very fabric of the nation and citizens of China today -on an individual level as well as collectively on governmental, national & societal levels.

Please do not mistake my intent here. This statement is not political & it's not born of, infected with or intended to reflect any kind of prejudice. I'm just being objective, honest, insightful & candid (though maybe a bit indelicate for some tastes). More importantly, I believe my analysis & description of one specific part of our present global situation are unarguably correct. For these reasons, I feel this post should be left as is & not "edited" or eliminated because it's "political" - which it really isn't.

And as for saying "A part of me is always impressed, I have to give it to china, for always trying..." That's flat out accepting, agreeing with & condoning the total rejection of the concepts of "morality," "credibility," "integrity," "dignity" & "honesty." It also amounts to accepting, agreeing with & condoning (as well as admiring, honoring & glorifying) counterfeiting & forgery that are done on a global economy-destroying level. I'm definitely NOT with you on that one, BUT... If we're to accept that brand of thinking, then I think it's high time for western criminals to start counterfeiting Chinese Panda coins and drop the bottom right out of the Chinese Panda market for the rest of all time...
After all -- "Turnabout is fair play" -- right?
Pillar of the Community
poboxw's Avatar
Canada
1502 Posts
 Posted 10/23/2012  3:47 pm  Show Profile   Bookmark this reply Add poboxw to your friends list Get a Link to this Reply
Really...

It is indeed frustrating to have to sort through Chinese fakes when collecting/buying high end luxury knick-knacks and collectibles

But, compared to manipulated PM markets, a financial system of derivatives of derivatives and nonsensical "financial products" designed under the guise of "financial innovation" to screw the average Western culture citizen over... are you sure that your label of
"counterfeiting & forgery that are done on a global economy-destroying level."
should be applied to overpriced handbags, t-shirts, and gold bars?

I almost want to applaud the Chinese for being able to profit from scams at the average citizen level. Whereas the average North American with bags full of "credibility," "integrity," "dignity"... slaves away at a dead-end job, just to be able to not afford a mortgage, shop at Walmart, and not know the difference between securities and futures and....

Bedrock of the Community
DVCollector's Avatar
United States
10045 Posts
 Posted 10/23/2012  5:41 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply
Personally, I think it's unfair to pass judgment on Chinese citizen's morals because of a few mercenary manufacturers. We might also discuss those North Americans who are knowingly reselling forgeries from abroad, and not just coins. The problems is even more pronounced with luxury goods such as watches. Is this stuff coming out of China because they're immoral? No, it's happening because skilled labor is cheaper and there's a surplus of manufacturing. I happen to know quite a few Chinese immigrants to the US who are very upstanding people.
Pillar of the Community
Fat Freddy's Avatar
United States
1200 Posts
 Posted 10/23/2012  6:06 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
No question that the great majority of individuals are moral and upstanding - I definitely yield that point. The focus of my resent is that their government allows their country to be a safe haven for forgers and counterfeiters and thereby makes them one of the major global havens for that activity. I think there's something very wrong with that picture and that it imparts culpability on a pretty broad basis - even though the activity is the activity of a very few. Every syllable I've heard or read about the counterfeit PM products is about "...the Chinese tungsten forgeries..." or some other such wording. That's a pretty singular indication of where the problem is based and by extension it's a pretty singular indictment of where the problem is based.
Pillar of the Community
poboxw's Avatar
Canada
1502 Posts
 Posted 10/23/2012  6:36 pm  Show Profile   Bookmark this reply Add poboxw to your friends list Get a Link to this Reply
The pessimist in me thinks that the great majority of individuals are thieving and not honest if shielded from view.

In context, this forgeries problem from China or other-wise just don't seem as big of a problem to me. Bluntly put, I could care less when those that regularly spend $2000 on handbags or throw half a house worth of cash on a gold bar get fakes because they can't tell the difference or be bothered to check. It's a shame that small-time collectors and the average joe also gets burned, but it's nothing education and caution can't solve. Get rid of the market to stop the game. Stop Chinese villages (which are not exactly swimming in cash) and an Indian, South East Asian, South American one will pick up the quota.
Pillar of the Community
Silverhawk74's Avatar
United States
3670 Posts
 Posted 10/23/2012  7:18 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
There are good, bad, and ugly in every corner of the planet, and sure we could split hairs about which sector presents the highest percentage of crooked behavior, but it is a moot point....

It is a shame China allows this and many other unethical practices, same to be said for all countries I am sure behind the scenes....

Like Pobox said be wise and no what your buying, and everything else should work itself out....

Big reason I like ASE's, old Morgans or Peace dollars and esp old bars....

I know silver when I see it or hold it, and patina on old coins is not easily copied. Its TRUSTED and in the end in this trust I ship to you on my word world, nothing is more key then trust....
Pillar of the Community
Fat Freddy's Avatar
United States
1200 Posts
 Posted 10/23/2012  8:21 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
"...It's a shame that small-time collectors and the average joe also gets burned..." --- pbx - That's the real point! I too couldn't care less about rich women w/ $2K purses. I do however sympathize w/ the underpaid peasants in the 3rd world factories where they make the real $2K purses. They're likely not any better paid than the production slaves working for the Chinese knockoff-makers, but they're getting their lousy wages stolen from them by the knockoff artists.

"... Big reason I like ASE's, old Morgans or Peace dollars and esp old bars...." --
SH74 -- You got that one right! If you keep yourself in a world of $20 bills, you don't need to worry much about the counterfeit $100's. I'm trying to stay below the line of fire being laid down by the counterfeiters by stacking only low-cost silver bullion coins that it wouldn't pay for them to bother counterfeiting. I hope the theory works out in reality.
Pillar of the Community
macmercury's Avatar
United States
5837 Posts
 Posted 10/23/2012  10:10 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
There are a lot more things with China unethical business persons doing these days, not just collectibles or wears, but with consumables also, most wouldn't hear about people dying from chemically spoiled food or putting substance into food flavorings that knowingly is poison.

I have relatives and friends in China that normal citizens in the States would never heard of such news, because many corrupted government officials would cover up such matter or being paid off for not to investigate. There are NO FDA in China! Only when SHTF will then begin the investigation...

Whoops! Getting political.
Edited by macmercury
10/23/2012 10:12 pm
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