The Perth Mint is facing a potential $9 billion recall of gold bars after selling diluted or "doped" bullion to China.

[honestinjun]

I recall a story 8 years ago about a collector who stacked Kruggerands.  He ordered some new Krugs and was comparing his new order with some of his older stock.  He noticed the "tint" on his new Krugs swayed more to the "greenish" side than some of his older coins.  He took them to have them tested. Turned out the copper ratio in his new coins was a lot higher than his older coins.  He made a big stink about it.  Can't remember how it ended

Kruggerands are 91.67% gold. Personally I wouldn't buy them. Double Eagles are even lower at 90% but at least they have some historical significance.

https://www.abc.net.au/news/2023-03-06/perth-mint-gold-doping-china-cover-up-four-corners/102048622

 

 

 

Edited March 8, 2023 by honestinjun

[dicker]

There is at least one thread on this topic @ChrisSilverit might be worth merging.

The only serious( i.e with scientific accuracy) article Krug purity I have seen was written by @LawrenceChard.  If there is another it would be good to have the details of the article.

https://chards.co.uk/guides/krugerrand-gold-content/507

Back on point, I don’t think the gold is less than 99.99.

Best

Dicker

[bluffer]

chinese complaining about inferior products.  have they looked at wish.com?

 

oh the brass neck!  ( in this case silver and copper 🤣 )

[Bratnia]

The irony of the worlds largest counterfeiter (China) complaining (politically based) about minute amounts of copper inclusion instead being silver ... as being a "fraud" 🙃

Just a pure politically based dig at Australia.

[CollectForFun]

Well, I must say I don't really understand what the article is about. It does state that gold was above minimum required 99.99 purity. So the problem is with the composition of the remaining 0.01? And that it was silver instead of, like, what? And by the way, I looked up SGE requirements and did not find anything on the remaining 0.01, only that it must be 99.99 gold.

Besides, there's this: https://www.marketscreener.com/news/latest/Shanghai-Gold-Exchange-denies-report-on-doped-gold-bars-from-Australia--43187466/

[Paul]

China want .999

If my aging memory is right Perth mint was always.995 

[CollectForFun]

2 hours ago, Paul said:

China want .999

If my aging memory is right Perth mint was always.995 

99.99 = .9999

[NGMD]

The Irony of China kicking up a stink about something ‘Fake’ or ‘ Not as described’.

hint- Mirror.

 

[westminstrel]

See here: