Fake gold causes fears in bank  

Hello mooch. It is a must that people are supposed to be more careful while doing business between each other. I feel angry for this kind of cheating behaviour while doing business without any trust by selling fake gold, which is so expeneive stuff, and such. I hope that the national law will give the party providing fake gold a very fair judgement and a very high compensation to the buyer so that there will be no more cases from happening again.

Gold is so expensive now that I am not surprised that someone/company came up with such a scam. But I agree with you, if you are dealing with such vaulable materials, their should be someone to verify that it truly is gold. I would be really upset if I ended up buying fake gold, because I know that I would probably never see that money again.

Fake gold scams have existed ever since they discovered gold and classify it as a valuable metal. I am surprised that the bank did not inspect them when they bought it. Nowadays, even the supermarket cashiers check our money when we pay using $100 bills.
I wonder what will come next; people scammed by fake silver bars?
History seems to repeat itself and people should really learn from them.

scammers will do anything that is why they are scammers,

of course if I found out that I bought fake gold and was paying the price of real gold I would go back to the company and demand my money back and I would alert the authorities as well.

Wouldn't you think that just weighing it would solve that problem? I mean gold is a LOT heavier than steel.

Steel density is 7.8g/cm^3
Gold density is 19.3g/cm^3

That is a HUGE difference in weight.

And if this is a problem then what about pyrite (fool's gold?).

Protect what is most valuable.

Thanks

Zelo

fake gold everywhere rom china to dubai and to saudi arabia and africa,fake stuffs everywhere, an uncle bought me some gold from dubai some months back, it didnt last more than 6 months before the whole gold peeled off and now i had to throw it away from annoyance

I think this will become a new fad as people get used to the idea of Iron rings. These gold plated iron rings will look like gold and be cheap enough that you can have hundreds and wear a different one each day.If they get lost its easy to retrieve them with a common Magnet.
This bank is onto something very Big. We will hear more about this new idea in Jewelry in the future! What a discovery!

Wow! that could have been devastating to Ethiopia. I can't even imagine that happening. Who would have the audacity to do that.. the risk of getting caught would be high for sure. I bet steel is not as heavy as gold anyway.. that should be a clue.