Miles Franklin features three writers – David Schectman, Andy Hoffman and Bill Holter. All of us have different things to say and our styles are different, but we all see the role of gold and silver and the dwindling role of the dollar in exactly the same manner. Today I am featuring Andy Hoffman and Bill Holter, our two gifted writers. For those of you, and I know there are many in this group, who only read MY comments, it’s time to introduce you to Andy and Bill. These guys are really good. Check them out. Ranting Andy writes his own daily afternoon report for Miles Franklin and Bill Holter is now writing exclusively for us several times each week. I hired both of them because I believe they are two of the most honest and knowledgeable individuals in our industry – and they write with passion and conviction!
But first – we have been getting some flack from the Perth Mint and one of their US sales outlets for an article that Andy Hoffman wrote earlier this week, in which he quoted Jason Hommel regarding some issues with the Perth Mint. Andy addressed this in a follow-up piece the next day. Well, here is another problem that they are facing, due to no fault on their part, but a problem none-the-less. When you click on the link below, note that the counterfeit gold coins are Perth Mint one-ounce bars.
Counterfeit Aussie gold sold in China – Yahoo News
Mike Duffy, 7News Updated October 22, 2012, 7:13pm
An Australian mint has called in the Federal Police after being shown evidence by Seven News that its gold bars are being counterfeited.
The investigation uncovered Chinese ‘forgery factories’ that will churn out fake bullion and even Australian coins, for a fraction of their face value.
Continue reading on news.yahoo.com
Pamp bars, manufactured in Switzerland, have also been counterfeited. Leave it to the Chinese. They knock off everything in sight. It used to be items like designer purses and Polo sport shirts, but now they have their sights on gold. I don’t expect the Chinese government to do anything about it, so be extra careful and pick your sources carefully. I would shy away from eBay coins, unless sold through a REPUTABLE dealer (like Miles Franklin). Personally, I am sticking with the following coins: US Gold Eagles, US Gold Buffalos and Canadian Maple Leafs. We can ship Gold or Silver Maple Leafs DIRECTLY to our Brinks Storage Program from the Royal Canadian Mint (no chance of counterfeits here) and the coins are stored in their vault for Miles Franklin customers. In a world of “doubt” this is a foolproof way to avoid the counterfeit issues. If nothing else, it offers peace of mind. You know you are absolutely getting legitimate gold coins as they come directly from the mint.
We have sold millions of dollars worth of Perth Mint gold bars. Not only do we understand our responsibility as a business but feel a moral obligation to protect our clients, in every way possible. Which is why you can be sure Miles Franklin will go to great lengths to confirm the authenticity of its products.
Has the Perth Mint created an education program for the dealers and customers to identify the fakes from the real product?
I have Perth Mint 1oz bars. and would like to confirm that they are real.
If you have a question for the Perth Mint, please contact Bron Suchecki (Manager of Analysis and Strategy), at [email protected]
Thanks Andy. I have already emailed them as well, albeit not to the address you provided. Hopefully they will see that customer and dealer education on this matter is a top priority to keeping their brand from being tarnished. Other companies dealing in fashion counterfeits of their products do have these programs. Thanks. I’m a fan of your blog.
Hi all, well these Perth mint gold 1 oz fake bars are so fake they are like comparing chocolate gold coins to the real thing, they are made from a light alloy and then coated to look like gold.
They are like a Childs toy very light and tinny, simular to monopoly money absolutely no comparison.
Lets all be realistic and not make a big deal out of nothing, we can leave that to the main steam media, lets keep the alternative media real and informative
Tell it like it is, the Chinnese factory that sold these coins to channel 7 news in Australia sold them as dollar trinkets made to look like Perth mint 1 oz bars and not to make huge profits out of forgery, that said in the wrong hands they could try and sell them to someone who has no Idea what a real oz bar Looks like or what sort of weight it should be.
Gold is no more a dream to anybody. What lies is the originality of the rare metal and its purity available to public. Many of us owned the Perth mint gold but occasionally few cases arise due to inside action possibly have occurred during the sale or purchase event. And once the fake word arises, every properties of the metal will appear as ‘fake’ and reserve a seat in memory until it dissolves.