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 Replies: 12 / Views: 6,350 |
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Pillar of the Community
Canada
2845 Posts |
Fake gold bars being sold online for up to $1,200 are actually worth $2, Ontario police warn http://calgaryherald.com/commoditie...00f130e96a75Amazing, Ontario police finally noticed, a noble effort to warn people but no mention of RCMP or any intentions to prosecute. Edited by wildflowerAB
12/22/2017 9:51 pm
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Rest in Peace
United States
17900 Posts |
Online theft is so hard to follow, even though most geeks can backtrack a source location in minutes.
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Bedrock of the Community
Canada
21601 Posts |
If the authorities choose to do nothing about the hundreds of counterfeit coins and gold bars being sold on ebay, I don't think they are too concerned about a few being sold on kijiji. Even the RCM doesn't seem to care about the counterfeit RCM gold bars that are being sold. |
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Rest in Peace
Canada
1360 Posts |
it makes you wonder about all of the coins and or bullion purchased online. Especially if it's encased in a hold so you can't feel the real weight. I'm thinking of all the gram or 5 gram 'bars' that were in credit card sized holders. I have a couple of them - they truly look legit....but if they can mimic the Royal Canadian Mint.... everything is a risk. |
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Pillar of the Community
Canada
5239 Posts |
It is beyond me why someone would buy a gold bar on Kijiji, or anything valuable that you can determine authenticity and quality on sight.
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Valued Member
Canada
393 Posts |
Edited by Proof Nut
12/26/2017 3:32 pm
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Bedrock of the Community
United States
94367 Posts |
Thanks for thee heads-up.
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Bedrock of the Community
Canada
21601 Posts |
When we were reporting fake gold bars to ebaylast year, there were markers on both the package and the bar itself to determine if it was fake or real. The easiest way to determine authenticity is if you look at the obverse, the fields on a genuine bar seem textured whereas the fake looks polished. Also on the reverse if you hold it so the light hits right, you will see that only the middle leaf is polished. On the fake, they all look polished. There are also discrepansies on the package itself. The surest way to determine if your gold bar is genuine is to buy it from a known gold dealer or LCS. Nobody in their right mind is going to sell gold for $3-$400 less than spot. Compare the fake to the genuine.   |
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Rest in Peace
Canada
1360 Posts |
JimmyD said: Quote:
The surest way to determine if your gold bar is genuine is to buy it from a known gold dealer or LCS That is good advice, however, there was a case a while back where the guy had bought his from a reputable dealer (I think it was a bank) who then denied any knowledge. The purchaser was a jeweler, and in the end found it to be fake, as he cracked open the case. Had that one gone to an investor, it would have never been found out. https://ottawa.ctvnews.ca/royal-can...pt-1.3655810Edited by Dcadon
12/26/2017 6:14 pm
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Bedrock of the Community
Canada
21601 Posts |
Dcadon-
I read that article previously too.
But they are referring to a Bank and
a Jeweller (whom I'm sure would not try
to pass it off to anyone else).
What I'm referring to are the gold and silver
dealers who buy directly from the mints and
can guarantee that they are genuine as their
reputation depends on it.
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Pillar of the Community
Canada
798 Posts |
Regardless, RCM, RCMP and BoC have chosen to be toothless on this matter ... so the fakes will continue to flood the market. I have reported sellers and fakes to all levels many, many times (as many of you know)... and they simply do not act. Even if seasoned coin guys and gals like us can spot the difference, many casual investors are being duped and all this negative attention just destroys RCMs product. It may take them decades to rebuild their reputation if the keep this up. |
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Pillar of the Community
Canada
798 Posts |
Those 2011 tulip/ladybug coins are selling on ***BANNED*** for $3/each and they are near EXACT REPLICAS. Very difficult to tell the difference. They have made their way to ebay and sell for $700. I had a seller removed from ebay and he probably sold dozens of them. RCM knows and does nothing, and that is one of the few coins that does well in the aftermarket. |
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Pillar of the Community
Canada
798 Posts |
Not sure why the other thread exposing all the Canadian NCLT fraud on ebay was deleted. Mods, every time you delete the counterfeiting threads ... you essentially enable the counterfeiters. |
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Replies: 12 / Views: 6,350 |
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Posted 12/23/2017 10:18 am
