Perth Mint sold billions in diluted gold to China, tried to cover it up
(ZEROHEDGE) – Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit, including gold-plated tungsten bars, but most (if not all) have been via third-party fraudsters. 'This time is different' however, as overnight reports via Australia's ABC News claims that the historic Perth Mint is facing a potential $9 billion…
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(ZEROHEDGE) – Over the years, we have periodically reported of the occasional gold bar discovered as counterfeit, including gold-plated tungsten bars, but most (if not all) have been via third-party fraudsters.
'This time is different' however, as overnight reports via Australia's ABC News claims that the historic Perth Mint is facing a potential $9 billion recall of gold bars after selling diluted or "doped" bullion to China and then covering it up, according to a leaked internal report.
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Gold doping is a somewhat accepted practice in the industry and is not illegal, but is high risk for refiners, as it lowers the quality of bullion by adding impurities like silver or copper.
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