In the Gold Bullion market, one already infested with scams, there is now a new problem, which may be the worst case of fraud I have ever known in this market: a 1-kg gold bar that had already been certified as 99.98% pure by X-ray fluorescent tests has turned out to be fake! To be able to fool X-rays is quite an accomplishment. As it turned out, the gold in the bar had been drilled out and replaced with the chemical element tungsten. The only reason that the forgery was ever discovered at all was simply because the counterfeit bar ended up weighing two grams lighter than it should have.
It’s scary to think that, had they succeeded in getting the bar to weigh an extra two grams, the scam would have succeeded and the person purchasing this bullion would most likely have never have been the wiser and spent years believing he had more wealth than he did. And let’s say that when he chose to trade this gold, the dealer he chose might also be unable to tell the difference and pay the full price for it. And so that piece of bullion would enter circulation, indistinguishable from other gold bars. Imagine that: a piece of tungsten so convincing as gold and valued the same as if it were gold that, for all intensive purposes, it might as well be gold!
All of this serves as a very clear reminder that storing wealth of any kind has its drawbacks, and while gold may be a more reliable form of wealth than any government-sanctioned fiat can ever be, it does come with its own economic consequences that can lead to its own problems. Fortunately, Bullion Trading LLC gets its gold directly from the source, and so the safest and more secure way to purchase a gold bar is from a dealer who knows the business and the world of precious metals.