FIRSTLY... Here is the GOOD NEWS.
When you buy New and Previously owned Central Bullion Gold, Silver, Platinum and Palladium Bullion Bars directly from us online via CentralBullion.com, or by purchase and collection from our premises, you are GUARANTEED that your purchase is 100% GENUINE.
BEWARE of 'FAKE ' Bullion
When you buy any Precious Metal Bullion, whether it be Coins or Bars, it is of utmost importance that you can verify that the Bullion you are buying is REAL.
Examples. Left: FAKE Silver Bullion Bar filled with Lead. Right: FAKE Gold Bullion Bar with Tungsten rods.
FAKE Bullion is a growing global problem with Bars and Coins flooding onto the market and being purchased by unsuspecting investors.
It is not only private buyers that are being duped, because much of the FAKE Coins and Bars are highly professionally done and many professionals in the industry are also being duped.
In 2017 J.P. Morgan, which is one of 5 banks which finalize trades in the $10 trillion/annum London gold market, discovered that its Vaults contained gold bars stamped with the ‘same’ identification number.
During the period 2017 to 2019 FAKE Bullion bars worth at least $50 million, stamped with genuine Swiss refinery logos have been identified by all four of Switzerland’s leading gold refiners and found in the vaults such as JPMorgan.
A quick search on Google will present you with many websites, reviews, blogs, forums, videos etc. that warn of the "Large numbers of scam! listings with FAKE Bullion on Ebay and other online retail platforms".
Although it should be said that not all sellers are not acting dishonestly as they are not aware that the bullion they are selling is in fact FAKE. This however is of no comfort to buyers who spend their hard earned money on purchasing such FAKE Bullion.
In addition to the financial loss when buying FAKE Bullion, it also poses a compliance threat to anyone who holds such metal (including investors, banks, jewellers, pawn shops, electronics manufacturers etc). Because buying and/or holding such FAKE Bullion risks inadvertently violating Global rules and laws that are designed to keep metals of unknown (or criminal) origin out of circulation.
FAKE Bullion Coins and Bars are being produced to such accuracy and in realistic packaging that much of the FAKE Bullion Coins and Bars that are circulating goes undetected.
Example. FAKE PAMP Swiss Silver Bullion Bar in packaging.
Example. FAKE Perth Mint Gold Bullion Bar in packaging.
Claimed 'Tested', or 'Sealed and Certified' Bullion, cannot be completely relied upon.
The cruder, less sophisticated FAKE Bullion Coins and Bars are easier to identify using simple tests such scratch testing (touchstone and acid), magnet testing, ping testing, or even anomalies with the packaging.
However, the more sophisticated FAKE Bullion Coins and Bars can be much harder to detect, even when using testing methods such as density/specific gravity testing, ultrasonic testing and x-ray fluorescence testing.
Many small gold traders, such as pawn shops or online gold and jewellery retailers only use the basic testing. If they actually test it at all!
This means that large amounts of FAKE Bullion Coins and Bars are being sold and purchased in shops and online. Often by legitimate unsuspecting sellers and buyers.
Limitations on Testing Methods for purity and inhomogeneity.
No single (non-invasive) testing method can be relied upon to identify FAKE Bullion and detect for accurate composition of the metal and for inhomogeneity (inserts present within the Bullion Coin or Bar).
Scratch and Acid Testing: This surface testing method could falsely identify a gilded/plated bullion Coin or Bar as genuine when the core is actually a cheaper metal.
Density/specific Gravity Testing: Tungsten has an almost identical density and volume to gold, so bullion Coins or Bars with tungsten cores could falsely be identified as genuine.
X-ray fluorescence (XRF) Testing: Detects the purity and composition of precious metals up to 0.01% accuracy. However it cannot penetrate below the immediate subsurface (~20 microns) and therefore thickly gilded/plated Bullion, or hollowed out and filled Bullion could falsely be identified as genuine.
Electrical Conductivity Testing: Silver can be testing with this method as Silver conductivity cannot be matched. However, mixing metals could create an alloy that matches the electrical conductivity of Gold and therefore the Bullion could falsely be identified as genuine. Heat and Cold of the Bullion being tested can also give inaccurate readings.
Ultrasonic Testing: Ultrasonic thickness testing ensures that the Bullion items do not have hidden cavities or extraneous metals and this method tests through the entire item. Ultrasonic testing is not suitable for accurate assays for metal composition or purity.
Fire Assay: Only useful for Gold. Requires a sample test piece to be removed from the Bullion Coin or Bar to be destructively tested. As only one small part is tested, it is possible that other parts of the Bullion are fake and the Bullion falesly identified as genuine.
Magnetic Testing: Fake Bullion which is filled with non-magnetic metals such as Lead, Copper and some Stainless Steels could falsely be identified as genuine.
Drilling: Damages the Bullion and does not give identify the Bullion material.
Central Bullion Testing Service and Authenticity Certification for customers of 'Other Brand' Bullion.
For customers who want the peace of mind of knowing if the 'Other Brand' Bullion they own is genuine, we offer a Testing/Authenticity Service.
The service we provide encompasses thorough 'fool-proof' Testing of your Bullion using a combination of multiple Testing Methods to ensure that it is 100% Genuine.
We carry out all 3 of the Testing Methods listed here:
- Density/Specific Gravity Testing.
- Ultrasonic Testing.
- X-ray fluorescence (XRF) Testing.
Reports and Certificates
After we have Tested your Bullion, we supply a printed report and for 'passed and approved' Bullion, a Certificate for every individual piece of Bullion that we Test.