Tungsten-Filled 1 Kilo Gold Bar Found In The UK

Tyler Durden's picture




 

The last time a story of Tungsten-filled gold appeared on the scene was just two years ago, and involved a 500  gram bar of gold full of tungsten, at the W.C. Heraeus foundry, the world's largest metal refiner and fabricator. It also became known that said "gold" bar originated from an unnamed bank. It is now time to rekindle the Tungsten Spirits with a report from ABC Bullion of Australia, which provides photographic evidence of a new gold bar that has been drilled out and filled with tungsten rods, this time not in Germany but in an unnamed city in the UK, where it was intercepted by a scrap metals dealer, and was supplied with its original certificate. The reason the bar attracted attention is that it was 2 grams underweight. Upon cropping it was uncovered that about 30-40% of the bar weight was tungsten. So two documented incidents in two years: isolated? Or indication of the same phenomonenon of precious metal debasement that marked the declining phase of the Roman empire. Only then it was relatively public for anyone who cared to find out on their own. Now, with the bulk of popular physical gold held in top secret, private warehouses around the world, where it allegedly backs the balance sheets of the world's central banks, yet nobody can confirm its existence, nor audit the actual gold content, it is understandable why increasingly more are wondering: just how much gold is there? And alongside that - while gold, (or is it GLD?), can be rehypothecated, can one do the same with tungsten?

From ABC Bullion:

ABC Bullion received the following email from one of our trusted suppliers this week.

 

Note:

  • It was not ABC Bullion that purchased this bar, the email and photos were sent to us as a general warning.
  • I xxxx'ed out the city's name to avoid any second guessing as to the name of the dealer.

 

19/03/2012:

 

Attached are photographs of a legitimate Metalor 1000gm Au bar that has been drilled out and filled with Tungsten (W).

 

This bar was purchased by staff of a scrap dealer in xxxxx, UK yesterday. The bar appeared to be perfect other than the fact that it was 2gms underweight. It was checked by hand-held xrf and showed 99.98% Au. Being Tungsten, it would not be ferro-magnetic. The bar was supplied with the original certificate.

 

The owner of the business that purchased the bar only became suspicious when he realized the weight discrepancy and had the bar cropped. He estimates between 30-40% of the weight of the bar to be Tungsten.

 

This is very worrying and reinforces the lengths that people are willing to go to profit from the current high metal prices. Please be careful.

Photos of the cropped bars: 1000g Gold bar cut showing inserted tungsten rods

Two halves of the cropped bar:

Finally, some observations from Paul Mylchreest on debasement:

Let’s consider the run-up to Rome’s hyperinflation. I think this comment from jaysromanhistory.com “Good Money, Bad Money, and Runaway Inflation” resonates with what’s happening in the US today:

 

“Severus Alexander (AD 222-235) tried to reform by going back to the denarius but, once started, this path of runaway inflation and financial irresponsibility on the part of the imperial government proved impossible to control.”

 

It also seems that the hyperinflation was preceded by some kind of banking crisis, which is an interesting parallel. From “Demise and Fall of the Augustan Monetary System” by Koenraad Verboven:

 

“Papyri show it was common for private individuals to deposit money at a bank and to make and accept payments through bankers.Bankers in the west disappear from view around the middle of the 3rd c… A famous papyrus from Oxyrhynchus from 260 CE shows exchange bankers closing in order to avoid having to change the ‘imperial money’. The strategos ordered the exchange bankers to reopen and accept all genuine coins and warned businessmen to do the same. In 266 CE we find for the first time transactions being expressed in ‘ptolemaeic’ or ‘old silver’ as opposed to ‘new silver’.”

 

The chart shows how inflation remained relatively subdued until a tipping point was reached in the late- 260s A.D Monetary systems can absorb substantial abuse before there is a dramatic impact on the price level. For example, the debasement of the coinage was already accelerating in the early part of the third century A.D., before plunging in the latter part. Indeed, the chart below (apologies for the quality) only shows the trend up to 253 AD. By around 290 AD, the coins were only dipped in silver to give them a coating (<0.5%):

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Sun, 03/25/2012 - 12:55 | 2288552 CrockettAlmanac.com
CrockettAlmanac.com's picture

Why do you insist on making this out to be a matter of race? You're no better that Al Sharpton and Zimmerman is your Tawana Brawley.

Sun, 03/25/2012 - 13:14 | 2288588 Dangertime
Dangertime's picture

I didn't make it about race.

Obama, Sharpton and Jackson did.  The black panthers did.  The media did for calling the shooter "white hispanic".

It is they who deserve your derision for making it about race.  When I see shit like that, I will respond in kind.

Hey I'm all for the kid defending himself if assaulted or attacked.  But do you honestly think a 5' 8" fat 28 year old man physically hit a 17 year old 6' 2" football player?

How do you think Zimmerman got the blood on his face?  The grass stains on his back or the mud on the back of his head?

Sun, 03/25/2012 - 14:11 | 2288685 CrockettAlmanac.com
CrockettAlmanac.com's picture

Are you too weak minded to simply ignore the media and agree that this case should be brought to trial?

Mon, 03/26/2012 - 19:32 | 2292865 Dangertime
Dangertime's picture

I never said it shouldn't be brought to trial.

 

I am just pointing out the lies being told....

http://www.miamiherald.com/2012/03/26/2714778/thousands-expected-at-trayvon.html

 

http://articles.orlandosentinel.com/2012-03-26/news/os-trayvon-martin-zimmerman-account-20120326_1_miami-schools-punch-unarmed-black-teenager

 

I know these links are inconvenient to you, but they paint a pretty clear picture of the truth.

Sat, 03/24/2012 - 21:17 | 2287605 t_kAyk
t_kAyk's picture

first:   whites are the biggest butchers ever

second:   anyone playing the race shit in this episode is an idiot.  it matters not who is killed, the fact is someone got murdered.  by whom?  doesn't matter.  where?  doesn't matter.  color?  DOESN'T FUCKING MATTER

i honestly think this is a ploy to get us all talking and distracted.  people are killed everday by other people, regardless of color/race/sex, whatever.  governments and banks indiscriminantely kill people everyday, and they convince us its purposeful.  The crazier things seem, the simpler they are to understand (totally opinion). 

Sun, 03/25/2012 - 03:08 | 2287991 grizzle
grizzle's picture

t_kAyk, Whites are the biggest butchers ever as far as war, maybe, because blacks never could manage making weapons technology from scratch, even guns and ammunition. That is the only reason. If they had a technological civilization, instead of relying on whites to give them guns, they would be the biggest mass murderers in history. Every time they get hold of guns in numbers, though, phenomena like "AK kids" arise. What has been considered to be the wildest spoeculation of the most fanatical racists cannot come close to describing the numbers or degree of violent crime blacks are guilty of, wherever they are in numbers. Like a lot of things, the media simply ignores it. Their number one trick is to call blacks "youths". The statistics indicate that all inter-racial rape in the US (as far as whites and blacks) is ALL black-on-white. ALL of it. There is NO white on black rape in the US.  In addition, they are 13% of the population and commit, is it 80 or 85% of the murders? I lived in a 97%+ black area of Cincinnati for five years (only so I could spend more money on scientific research) and I can say with certainty it is not a place you want to be. Having one's door kicked in is a regular occurrence, as is rape. There's a reason for all the steel bars over doors, perforated steel screens over windows, security system signs and constant local news reports of murder by blacks. In Africa, it is common for babies to be raped to death by black "men" looking to avoid AIDS. Common. To say nothing of the completely unreported genocide of whites by blacks in Zimbabwe and South Africa. How are those countries doing, by the way, now that they've drove out the "evil" whites, lol. have they eaten all their cats and dogs yet? Have they issued hundred trillion dollar bills? In addition, if the same criteria were applied by scientists to classifying human beings as are applied to animals, the races would easily qualify as being different species. Anti-racist dribble is very heart-provoking, but it has nothing to do with critical thinking. You can censor and delete words, but the reality stays the same. Sorry. Truth is just incredibly unpopular right now.

 

Back on topic, as far as the gold bar issue, someone mentioned that Europe now has a lot of cheap tungsten because of the incandescent bulb ban. Maybe that's why the ban was effected, to drive down the price of tungsten so it could be used in this manner, massively. So that all the gold bars could be diluted. The fancy alloy that was mentioned, with osmium and ruthenium, that HAS to be a state doing that. I would guess....Israel. With the US and Europe leadership cooperating.

Sun, 03/25/2012 - 12:38 | 2288506 Dangertime
Dangertime's picture

In war, sure whites are smart and successful.

In peacetime, or civilian society, whites are NOT the biggest butchers ever.  Not by a long shot.

 

Sat, 03/24/2012 - 23:13 | 2287754 tmosley
tmosley's picture

The converse is also not true.  Whites (or Hispanics in this case) don't get to follow people with aggressive intent and murder them just because you perceive them to be "scary".

Sun, 03/25/2012 - 12:40 | 2288510 Dangertime
Dangertime's picture

True.

 

But whites, or hispanics, or blacks, have the right to defend themselves from a vicious physical assault.

And no race has the right to assault someone who is "following them".

Sat, 03/24/2012 - 19:40 | 2287398 Chupacabra
Chupacabra's picture

True, but in fairness that's probably attributable more to a lack of talent, than to a lack of desire. Machetes aren't quite as powerful as, say, tanks or machine guns.

Sat, 03/24/2012 - 20:01 | 2287433 CrockettAlmanac.com
CrockettAlmanac.com's picture

Yeah, and people who spend trillions of dollars and employ the best intellects available in order to create weapons that kill millions are more virtuous than those who do not pursue killing with every available resource.

Sun, 03/25/2012 - 11:21 | 2288324 Chupacabra
Chupacabra's picture

Yes, I am sure Africans refrained from inventing better weaponry because they are more virtuous than whites or asians.  You are truly brilliant.  Thank you for that insight.

Sun, 03/25/2012 - 12:57 | 2288553 CrockettAlmanac.com
CrockettAlmanac.com's picture

When the blacks took over South Africa they dismantled the nuclear weapons which had been built by the deposed white regime. But don't let the facts get in the way of your biases.

 

Sat, 03/24/2012 - 19:36 | 2287395 Race Car Driver
Race Car Driver's picture

Nice thread-jack. This entire story is a media-made distraction and really serves no purpose on ZH and - as is evident - nothing more than troll bait.

Sun, 03/25/2012 - 00:12 | 2287832 TheFourthStooge-ing
TheFourthStooge-ing's picture

Race Car Driver said:

Nice thread-jack. This entire story is a media-made distraction and really serves no purpose on ZH and - as is evident - nothing more than troll bait.

Glory Fucking Halleluia! Amen to that, bro. Yours is only the second comment on this subthread that I didn't junk.

Fuck Trayvon Zimmerman. I don't give a fuck. Guess what? Strangers die every day and the world is fucked up.

 

Sun, 03/25/2012 - 13:01 | 2288556 CrockettAlmanac.com
CrockettAlmanac.com's picture

Fuck you. Or perhaps thank you. Threads are jacked here everyday.

I'm seriously considering leaving the hedge due to the absurd amount of hatred for either blacks or the rule of law which I have witnessed here today.

Imagine what I could accomplish in the hours which I have formerly spent conversing with idiots.

Mon, 03/26/2012 - 19:33 | 2292869 Dangertime
Dangertime's picture

Oh god please leave.  It would undoubtedly raise the average IQ on this site.

 

 

Sun, 03/25/2012 - 01:04 | 2287895 Lednbrass
Lednbrass's picture

Agreed, nobody really knows wtf happened yet everyone has an opinion. As there was apparently a witness, might be worthwhile to see what they had to say.

Sun, 03/25/2012 - 13:02 | 2288562 CrockettAlmanac.com
CrockettAlmanac.com's picture

The witnesses who have gone on the public record say that Zimmerman did not act in self defense:

http://www.youtube.com/watch?v=1cWwUAbbWnk

Mon, 03/26/2012 - 09:40 | 2290634 Dapper Dan
Dapper Dan's picture

I will be more careful with my discarded matches especially around so much kindling!

Sorry TD

Dapper.

Sun, 03/25/2012 - 13:49 | 2288641 palmereldritch
palmereldritch's picture

@Dapper Dan.  Interesting how a seemingly unrelated subthread becomes a metaphor for the original post.
Sorting the tungsten from the gold indeed....

Sat, 03/24/2012 - 17:07 | 2287065 HamyWanger
HamyWanger's picture

I simply see a smart guy who exploits at his profit the mental retardation of gullible and naive doomer goldbugs. I've thought about doing the same thing for a while, the tungsten rod idea is a good one.

Sat, 03/24/2012 - 17:40 | 2287150 SilverRhino
SilverRhino's picture

And that's why you never put 60K into something as small as that.  If you do, TEST the shit out of it!!!

Sat, 03/24/2012 - 17:51 | 2287172 q99x2
q99x2's picture

It is good to set all these crooks up to be put in prison. It is happening now as they turn on each other. No one is safe HW.

Sat, 03/24/2012 - 18:09 | 2287201 jplotinus
jplotinus's picture

"I simply see a smart guy who exploits at his profit the mental retardation of gullible and naive doomer goldbugs. I've thought about doing the same thing for a while, the tungsten rod idea is a good one."

At its core (no pun...) capitalism is a deeply flawed, outdated social economic construct. It is destructive and morally wanting.

It's capitalism...

Sat, 03/24/2012 - 19:55 | 2287425 luna_man
luna_man's picture

 

 

"jplotinus"...Ever heard of "KARMA"?...Now, go stand over there, with the other CRIMINALS!

Sat, 03/24/2012 - 17:03 | 2287068 Big Corked Boots
Big Corked Boots's picture

I would assume that the serial number can be tracked and the previous holders of this bar can be identified... one wonders if the bar was once held in China, or worse, has been somewhere deep under lower Manhattan.

Sat, 03/24/2012 - 21:52 | 2287648 XitSam
XitSam's picture

Are bars as small as 1 kilo stored in the NY Fed?

Sat, 03/24/2012 - 17:05 | 2287072 americanspirit
americanspirit's picture

Stop buying gold bars (eggs in one basket etc) and buy small coins like the Austrian Philharmonic 1/10 oz coins - 20 to a tube ( and break open the tube to check the middle coins). Let the oligarchs and bankers have the big bars - serves them right. Besides, what good is a kilo of gold going to do anyone when TSHTF? Little 1/10 oz coins on the other hand make a lot of sense.

Sat, 03/24/2012 - 18:04 | 2287193 Awakened Sheeple
Awakened Sheeple's picture

1 oz coins are still safe. In a SHTF scenario gold is for wealth preservation. Silver will be the go to metal for barter.

Sat, 03/24/2012 - 22:04 | 2287669 Kipper und Wipp...
Kipper und Wipperzeit's picture

I don't usually associate "SHTF" and "wealth preservation" ... more "ass preservation."

But heck, aim high!

Sat, 03/24/2012 - 19:06 | 2287332 The Count
The Count's picture

If I were you I wouldn't be so freakin sure that 1oz coins are not being faked already. Heck, I collect Morgan and Peace silver dollars and the Chinese produce a bunch of fakes... some easy to catch other not so and Ebay, in violation of US counterfeit laws, lets them sell the fakes! Yes, I have actually notified the Secret Service of this and NOTHING happened, even though the agent I spoke to agreed that US silver dollars are still legal tender and any copies would be considered counterfeit.

 

 

Sat, 03/24/2012 - 17:05 | 2287073 gimli
gimli's picture

........ as Charleton Heston once said:

http://www.youtube.com/watch?v=8Sp-VFBbjpE

Sat, 03/24/2012 - 17:06 | 2287077 digalert
digalert's picture

Damn those scrap metals dealers

Sat, 03/24/2012 - 17:06 | 2287078 debtor of last ...
debtor of last resort's picture

Manipulating the physical market. Deja vu bitchez.....?

This is a very, very good sign.

The road to real is open.

Sat, 03/24/2012 - 18:35 | 2287272 Golden monkey
Golden monkey's picture

On se revoit bientôt, cher ami.

Sat, 03/24/2012 - 17:07 | 2287080 Sutton
Sutton's picture

GLD's new ticker symbol will be TNG

Sat, 03/24/2012 - 17:07 | 2287082 Kokulakai
Kokulakai's picture

Doesn't say much for XRF Analyzers.

Sun, 03/25/2012 - 00:14 | 2287837 TheFourthStooge-ing
TheFourthStooge-ing's picture

Yeah, well, when they're only designed to analyze surfaces, what do you expect? A bandsaw dosn't make a very good screwdriver either.

 

Sat, 03/24/2012 - 17:12 | 2287089 debtor of last ...
debtor of last resort's picture

The road to real bitchez.

Because, if the phyz market is being manipulated, what about the paper market?

Even more fucked up?

This is a sheeple wake up call

Sat, 03/24/2012 - 17:15 | 2287095 debtor of last ...
debtor of last resort's picture

Gold cds rising

Do you want gold from:

Greece
FED
Merkozy
Corzine's cradle copper

Or maybe some ltro-silver

Sat, 03/24/2012 - 17:16 | 2287096 Uncle Henry
Uncle Henry's picture

Which is easier to manufacture: tungsten filled gold bars or a photograph and an anonymous email?

Sat, 03/24/2012 - 17:20 | 2287106 Sudden Debt
Sudden Debt's picture

For 16000 euro difference, one can take the time to forge a bar.
And that's not so hard if you think about it.

Drill holes, fill the holes, electroplate the side with the holes to 3 mm, grind off the excess gold, et voila!

Sat, 03/24/2012 - 17:17 | 2287099 apberusdisvet
apberusdisvet's picture

Upon swearing on the Constitution for his second term, Obama will usher in the final phase of his wealth distribution plan.  All gold reserves at Fort Knox, the underground vaults  in Manhattan and those at West Point will be minted into the new Obama Supreme Being coin and distributed to his loyal followers, none of whom will ever attempt an assay.

Sun, 03/25/2012 - 07:43 | 2288108 francis_sawyer
francis_sawyer's picture

all your tungsten are belong to us!

Sat, 03/24/2012 - 17:17 | 2287100 Sudden Debt
Sudden Debt's picture

2 gr difference.... How many do pass because they are altered in a good way...

Sat, 03/24/2012 - 17:18 | 2287102 tony bonn
tony bonn's picture

more evidence that gold is in permanent and severe backwardation....

Sat, 03/24/2012 - 17:19 | 2287105 spinone
spinone's picture

Isolated incident. Wake me up when someone has a statistically significant sample.

Sat, 03/24/2012 - 18:05 | 2287195 spentCartridge
spentCartridge's picture

I don't honestly think that anyone who might have inadvertently repatriated their gold recently, from foreign reserves, would say Jack Shit about it even if they did figure their gold wasn't real gold. I mean, if I took delivery of a shit load of bent gold, the very last thing I would want would be for every fucker else to know the same shit.

So, isolated incident until it ain't, and it ain't until someone with enough to loose, looses, that any shit worthy of waking you will happen ...

Sat, 03/24/2012 - 18:31 | 2287265 granolageek
granolageek's picture

If that had been tried on Chavez (not one or two bars, but 1% or more of his bars), he is a smart enough SOB, with enough connections, to cause much more trouble than cheating him of a couple billion would be worth.

The tenth guy to try it may get scrod, but Chavez was safe.

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