Last year news that tungsten filled 10 oz PAMP gold bars surfaced on the market in NYC went viral as long rumored tungsten filled gold bars were finally confirmed to exist.
At the time, we warned readers of rumors of fake silver coins and bars likely filled with molybdenum.
We now have an official confirmed report of
tungsten molybdenum filled American Silver Eagles.
A reader of silver analyst Jeff Lewis submitted the evidence after acquiring 15 fake ASE’s on ebay (underscoring the need to acquire your precious metals from a reputable dealer who obtains their supply directly from national mints):
Hello Dr. Jeff,
I read you newsletter often and look forward to it on silverseek as well…
Wanted to let you and readers know, today 4/3/2013, I just received 15 ASE counterfeit fakes, year 2000 from eBay. I thought it was as good deal, also got refund .
I work in radiology and had x-rays taken of real and fake, the fake coin can be x-rayed through; writing clearly visualized and authentic ASE can not (a solid white blank)…some kind of alloy I suspect?… Other similar details to the article in Coin World on the fake 2011 ASE’s coins that turned up in Canada in FEB 2013)…Beware…They are out there!!!!
Face and back images are oriented same (eagle and head up, authentic are opposite) and 2000 date slightly smaller in size than authentic ASE date. Fake coin is minimally thicker and minimally smaller in diameter. Non magnetic also.
The fake ASE’s are reportedly slightly underweight, year 2000 in date, and nearly perfect in appearance:
One gram light…30.1g coin, is minimally thicker and minimally smaller in diameter. Side images are oriented same and 2000 date slightly smaller in size than authentic.
With the US Mint unable to keep up with demand and selling ASE’s at an all-time record pace, is this a last ditch effort to dissuade investors from acquiring precious metals, and to keep their wealth in paper assets?