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This blog discusses The Perth Mint's bullion coins and bars, providing information about our latest designs, mintages, sales volumes and sell outs. On a broader front, we share relevant research and opinions for anyone interested in gold and silver bullion investing.

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Another Fake Minted Bar To Beware

Topics [ fake gold bars minted bars gold bars ]

BULLION BARS AND COINS

Kangaroo Minted Gold Bars are being targeted by counterfeiters and forgers. Last month we informed you how to avoid being duped by fake bars in look-a-like black cards.

See: Don't Get Duped By Fake Minted Bars

This time we’ve discovered an equally brazen facsimile of a 1oz Kangaroo Minted Gold Bar in a green card. Here are some valuable tips to ensure you’re not fooled by this blatant rip-off.

Background

Kangaroo Minted Gold Bars issued by The Perth Mint have evolved over time.

The main design has remained consistent since the 5g bar was launched in 2009 with our official LBMA stamp (a swan motif surrounded by the words THE PERTH MINT AUSTRALIA) above the bar’s weight and purity. Originally, the back of each bar was plain, but in 2010 we added a pattern of stylized kangaroos, which remains in force today.

There have been three generations of security cards, including the black-coloured version featuring a swan ‘water mark’ (refer to earlier blog post).

The original green card featured the CertiCard® logo and the words SECURITY CASE on the front under the blister. These cards housed Minted Bars with plain and adorned backs, which when illuminated under a Wood (UV) lamp revealed the words SEAL INTACT. (See example).

Issued from 2013, the second green card featured different security technology. Reflecting this, the front of each card displayed the words ‘The Perth Mint tamper-evident card’. On the back, the bar number was preceded by the letter ‘A’.

Like today’s black card, the word VOID is repeated around the edge of the blister if this card has been prized opened.

How to identify the latest fake

The latest fake to come to our attention purports to be a 1oz bar in an original green security card. Photographed in our office today, it is highly convincing.

 

However, compare the line CertiCard® SECURITY CASE on the front of the fake with the publicity product image below and you’ll notice this counterfeiter has failed to align the text accurately, with the words forming a slight arc. (Having purchased this fake, you'd have been extremely disappointed to discover that the UV sensitive message does not exist!)

The visible likeness of the bars and packaging indicates that counterfeiters are becoming increasingly sophisticated and unwary buyers could be falling into their trap more readily.

As we’ve urged before, there is only one way to eliminate the risk entirely: purchase your Kangaroo Minted Gold Bars directly from The Perth Mint or an approved Perth Mint distributor - listed here.



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Golden Rule To Avoid Fake Bars

Topics [ fake gold bars ]

IN THE NEWS

Perth Mint Sales and Marketing Director Ron Currie appeared on radio 2GB’s Money News last week where host Ross Greenwood wanted to discuss the perennial problem of fake gold bars from China.

Ross Greenwood: There’s a problem here isn’t there because there are websites that are certainly accessible here in Australia that really are saying that they are capable of being able to sell what looks like a gold bar with your (Perth Mint) stamp on it… but it’s anything but a true gold bar, isn’t it?

Ron Currie: That’s true and it’s one of those unfortunate situations that when you have a good product people try to copy it. But it’s very difficult in actual fact to do much about that because although we’ve been to the Federal Police and… they’ve talked to Chinese authorities – we’ve even managed to get one place closed down – they just spring up again somewhere else.

Ross Greenwood: So here’s the thing – how do people really start to work out that what they might be being sold is a fake?


Radio 2GB’s Ross Greenwood and The Perth Mint’s Ron Currie
discuss how to avoid being duped when buying gold bars.

Download audio file of full interview courtesy of 2GB/873AM

The Perth Mint’s advice actually is pretty straightforward and is based on the old adage - if it looks too good to be true, then it probably is! As Ron said, gold is a commodity and therefore can’t be bought at a discount. So don’t be tempted if it’s being offered cheap down the pub and certainly don’t buy anything off the internet if you don’t know exactly who is behind the site.

The golden rule buyers are urged to always follow is to look for a trustworthy suppler: (i) a government-owned organisation (such as The Perth Mint) or (ii) a reputable dealer – for instance, one that is a member of the Australian Numismatic Dealers Association.  The Perth Mint also publishes its own list of reliable, fully-authorised dealers and by dealing with any of these groups you’ll know that what you going to get is what you paid for.



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