From The Blaze:
Fake Gold Bars Discovered at Store in Midtown Manhattan
In turbulent economic times, investors often turn to gold as an item of intrinsic value. Regardless of the state of the U.S. dollar, gold has proven to be a valuable commodity. It is a hedge against inflation, and protection in a worst-case scenario.
Which is why the discovery of tungsten-filled gold bars in Midtown Manhattan has troubled many.
MyFoxNY relates:Back in March, TheBlaze's Becket Adams reported on the discovery of Tungsten-filled gold bars turning up in the United Kingdom.In jewelry stores on 47th Street and Fifth Avenue in Manhattan, the important trust between merchants has been violated. A 10-ounce gold bar costing nearly $18,000 turned out to be a counterfeit.
The bar was filled with tungsten, which weighs nearly the same as gold but costs just over a dollar an ounce.
Ibrahim Fadl bought the bar from a merchant who has sold him real gold before. But he heard counterfeit gold bars were going around, so he drilled into several of his gold bars worth $100,000 and saw gray tungsten - not gold.
What makes it so devious is a real gold bar is purchased with the serial numbers and papers, then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up. That is a sophisticated operation.
Contrary to what the news may indicate, it is apparently extremely rare to find Tungsten-filled gold bars being sold from reputable vendors. The recent uptick, MyFoxNY speculates, could indicate the involvement of an international crime ring.
I sincerely doubt that the ingot is being hollowed out -- this is five nines gold (99.999% pure) and it is about as strong as wet cardboard. My guess is more just a complete counterfeiting of the ingot including the serial numbers. Feast your eyes on this website: China Tungsten Online
How to Make Gold-plated Tungsten Alloy Bar?
Start with a tungsten alloy about 1/8-inch smaller in each dimension than the tungsten alloy golden bar you want, then cast a 1/16-inch layer of real pure gold all around it. This product would feel right in the hand, and tungsten alloy golden bar would have a dead ring when knocked as gold should. Gold-plated tungsten alloy bar would test right chemically, weigh exactly the right amount, and also pass an x-ray fluorescence scan, the 1/16" layer of pure gold being enough to stop the x-rays from reaching any tungsten.
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Emphasis mine. Yeah... Riiigggght...
