Looking at some of the fake gold bars earlier today on nuke.

I had to ask myself, what would a person do with these. Obviously selling them is a pretty horrible idea, I was thinking maybe trading them for other goods to resell might work, since it'll be years more than likely before someone tried to sell it off. They're pretty much the unbanking store of wealth, so, if you suddenly had a fake ounce of gold just chilling, what would you do with it?

Edit: For clarity I just want to point out I am not that asshole nor am I that stupid as to try to sell these. I realize I'd end up with lots of holes in me or broken bones or whatever. I just thought it was an interesting find and wanted to speculate on their possible uses.


Comments


[9 Points] Theeconomist1:

Lol. Believe it or not fake gold is a problem. A few years ago there were 4 10oz fakes bought by an experienced gold trader. Tungsten is usually used bc it's density is very close and they'll gold plate bars of tungsten. This guy drilled his bar to see it was fake. Are these that good?

If you don't do something like that gold is hard to fake convincingly. Even a one ounce bar is heavy enough to tell the difference. Gold is magnificent. You see this relatively small bar and it weighs a lot. I love gold and collect bars. Not the big kilo ones mind you. I've held those before and it's amazing. My favorites are the 10oz bars and I believe those are the ones that were faked. Gold eagles are awesome too.

I wonder too what the intention of these are. Like I said there were some convincing fakes floating around. This led to a ton of conspiracy theories that the problem is more pervasive than is admitted to.

Which bar are they faking? I tend to buy PAMPs or credit Suisse. I'll but gold Eagles here and there but there is a premium due to their numismatic value and I'm not hugely into coins for that purpose. But gold Eagles are truly a beautiful coin.


[5 Points] AustralianFraudster:

People sell them on craigslist and face to face using social engineering. All you need to do is come up with a good excuse as to why you have it (inheritance, gift from family/friend, etc), meet someone in a public place with no security cameras, such as a McDonalds or something and sell it off.


[3 Points] Theeconomist1:

I'm also trying to think if there is a money laundering aspect to it. Obviously one use is to pass fakes to unsuspecting customers but most gold dealers are pretty fortified. Better be prepared to leave town or something bc they and LE would hunt you down.

Gold is nice bc if you cash out under $10K it's not reported. So you can tuck some capital gains away but honestly I don't know if this can be done to scale. So only other thing I can think, but my brain is fried, is to keep the fakes and pretend you bought real gold with cash Problem is the 10oz bars would trigger reporting requirements since they sell around $11K right now. So who knows. Maybe it's as simple as using it like counterfeit money.


[3 Points] BizzQuit:

I mine, not bitcoins, the real deal.
I also refine, So I buy other miners finds in my area.
When I bring my purified gold to my buyer, despite 20 years of history, the first thing they do after weighing it is hit it with the XRF.

If you are unaware of this device and are really thinking of trying to move fake gold. Good luck with that. I know few people who deal in precious metals who dont deal with a good bit of lead and steel as well.


[2 Points] noonehear:

The ones you prob see on the DNMs are horrendous. The Credit Suisse ones that are an ounce don't even weigh an once..... Matching serials, spelling mistakes....


[1 Points] PIXEL_MACHT_FREI:

This is how you get shot in the head, years after the deal, while picking up your kids from school in Ukraine.


[1 Points] 2005C:

hypothetically, make a fake ebay/paypal acct, sell a few, turn the pp into bitcoin, repeat. easier ways to make a buck.


[1 Points] dabdude13:

Man list these bars as some rich kid whose grandpa died and leftem to him and he needs money rent as nice car wear a suit nice watch you could make some bank. might want to invest in a pistol and fake id just in case lol


[1 Points] Reducible:

What market is this on?


[1 Points] None:

Search aliexpress for replica gold bars. They cost like $10 each, same with most of the coins.

Exact same ones as on the DNMs