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 Replies: 33 / Views: 7,400 |
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Bedrock of the Community
United States
11951 Posts |
Yesterday a gold bar came into the LCS. The lady that runs the coin shop, thought it did not look right. She told the customer that for her to buy it she would have to take it to NTR and have it scanned. This morning she did, it was fake, mostly copper. To us this is scary. We did put on our gold tester, which also told something was wrong. In the holder it weighs 38.7 grams. We thought that was high. The customer has not come back to pick it up yet. Not sure how that will go.   |
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Pillar of the Community
United States
7390 Posts |
The links are dead now thanks to Bobby but there was a guy selling these on ebay. Not as the real deal but as "copies" for like $20 a piece or something like that. This is scarry! https://goccf.com/t/252124&whichpage=1 |
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Pillar of the Community
United States
1601 Posts |
Somebody is not going to be very happy. Unless she's trying to con you then she probably took a four figure hit.  |
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Bedrock of the Community
 United States
11951 Posts |
The lady is not conning me, she runs the coin shop I work at. She called the guy who brought it in. Of course he is not happy. He has not come it yet today, but over the phone he said he bought it a few weeks ago on ebay. |
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Pillar of the Community
United States
7390 Posts |
ebay huh, Pamp has a big problem on its hands and your shop lady might want to think of investing in a proper XRF gun for $10k-15k
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Bedrock of the Community
United States
11951 Posts |
The customer came back. He says he paid $1160 for the bar. And hard to believe, say he "thinks" he bought it from APMEX ebay site. Says he will be contacting them. Just to be clear ... We did not buy it from the customer. It looked off, in hand. And our test made us think it was not what is was supposed to be. So the deal was, we would have (local) NTR check it out before we bought it. NTR's test told us it was 70% copper. |
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Pillar of the Community
United States
3843 Posts |
There has been quite a few postings (on various forums) on fake bars being brought in to coin dealers in recent days. Have to say that this is making me more nervous about purchasing PMs. May stick to junk silver, although I've heard reports of fake junk silver too they don't seem to be as common. I wonder why the customer would buy the bar on ebay (at retail prices, presumably) and then try to sell it so soon after purchase to a coin shop (for wholesale prices, presumably? Something sounds off about that story. Edited by Joe2007
02/19/2016 2:03 pm
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Pillar of the Community
United States
7390 Posts |
 ... that was my first thought |
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Bedrock of the Community
United States
10034 Posts |
Agreed as to the suspect nature of the owner's story. The seller seems somewhat knowledgeable about PMs considering he knew the APMEX name. How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Bedrock of the Community
United States
11951 Posts |
We were wondering the same thing, if the customer knew the bar was fake,
or not. If it was real, and he did pay what he said, he would have lost
money.
He did have a 1oz gold eagle that was also check out, and it was real.
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Pillar of the Community
United States
7390 Posts |
She should call all the shops around town immediately GR and pass the word. Have them call the police and feign needing to get the cash to keep him waiting if a pamp bar comes in!
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Pillar of the Community
United States
757 Posts |
Fake pamp 1oz gold bars have been floating around my area since late summer early fall. There was a group of people trying to pass them off at all the LCS and pawn shops. I talked with a lot of the dealers and the story was always the same. Grandparents died and they wanted money. I was at one local auction house and the people came in trying to get the auction house to sell them. I happened to have my XRF with me and when I went to get it they left. I've been trying to get one for my black cabinet, but so far haven't been that lucky.
I constantly get asked why I bought my XRF and stories like this remind me it was a good investment.
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Pillar of the Community
United States
3843 Posts |
Any affordable scanners under $1,000 that are any good? Might eventually get one if I ever decide to do some small scale flipping on the side.
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Pillar of the Community
Canada
3049 Posts |
Joe2007: A specific gravity test will do well for copper bars that are plated but not tungsten (just too close)
- If you suspect tungsten give the bar a real good whack on the edge of a hard surface like a counter... tungsten will snap and break in your hand.
But I warn you "flipping" PM's is not easy to do for profit..
The pictures on this bar are pretty fuzzy ... but the details in the hair and the "PAMP" gold coins look like they lack detail... If this was at an LCS you could also take any other gold bar that's 1 oz and it should be of similar dimensions.... This one being made of 70% copper.. the bar would be a lot bigger to have the weight...
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Rest in Peace
United States
17900 Posts |
One more reason to stay with good old American certified gold.
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Valued Member
United States
426 Posts |
Yep, stick with gold coins that can be pinged.
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Replies: 33 / Views: 7,400 |
Posted 02/19/2016 11:33 am
