Bob Chapman On The Tungsten Gold Bars
Bob Chapman returns on the
Tungsten Gold plated bars scandal after a German TV have found a
Tungsten bar sold as gold and professionally counterfeited , Bob Chapman
advises against Gold bars if you are not able to check them out very
carefully , he prefers coins to bars
German ProSieben TV Channel Finds 500 Gram Tungsten Bar At W.C.Heraeus Gold Foundry With Bank Origin
my estimate, 500 grams (or about 17.63 ounces) of gold at spot should
be about $20,000 (US) instead of just over $20 (US) that Tungsten would
be worth. That’s quite a rip-off.
March 2, 2010
German TV station ProSieben finds what appears to be some evocative proof of gold counterfeiting, in the form of tungsten gold substitutes coming to the W.C.Heraeus foundry, which is the world’s largest privately-owned precious metals refiner and fabricator, located in Hanau, Germany. The foundry has isolated at least one 500-gram tungsten bar due for melting, originating from a (so far) unnamed bank, which as the head of the foundry stated made the unpleasant discovery that “not all the glitters is gold.”
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