NSFW Anon Archived $50 Million worth of gold bars in circulation found to be fake. Some making it as far as JPMorgan and Chase & Co's vaults. (dailymail.co.uk)
submitted ago by 3403648?
Posted by: 3403648?
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Archived on: 11/27/2019 10:00:00 AM
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NSFW Anon Archived $50 Million worth of gold bars in circulation found to be fake. Some making it as far as JPMorgan and Chase & Co's vaults. (dailymail.co.uk)
submitted ago by 3403648?
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[–] 20367671? ago (edited ago)
Is APMEX a good dealer? They insisted my kilo bar had to be refined. Maybe it wasn't actually melted down by the refiner... maybe the refiner relied on such methods as you describe. But APMEX was effectively outsourcing the testing of the product.
I've sold coins and bars to another dealer who used the sigma products, and they tested them in front of me. But they refused one of my silver bars because it registered outside of the tightest "confidence band" on the sigma. They said the bar was probably fine but they just didn't want it. They said all the bars I was selling them would be recast, while the coins would be resold as is.
These kind of experiences have convinced me not to buy generic products any more. Of course any product is easy to buy, but I don't like being hassled or struggling to get a good price on the sell side.
[–] 20367726? ago
A dealer should not be using the basic sigma alone. The pro sigma maybe.
Apmex is reliable, but I don't know their whole process. The mail is unreliable. Couriers are not getting paid enough to live a good honest life. Packages go "missing" go direct to a local guy. Price might not be as good. But you cut out the risk of a complete loss by the middle man.
[–] 20368014? ago
I agree with the things you're saying here.. just curious are you in the business, or have you gleaned this information as an end customer?
I'm just a retail customer that's sort of reverse-engineered it.