Do you buy gold? The Royal Canadian Mint has launched an official investigation into counterfeit gold following a shocking discovery.
On October 18, Ottawa jeweler Samuel Tang purchased a wafer, which was supposed to be 99.99 percent pure gold from the Royal Bank of Canada (RBC) branch located across the street from his shop.
Tests carried out by the jeweler apparently revealed the small bar contained no gold. The wafer was hard to roll, snapped instead of being easily bent and failed an acid test.
“Who is going to make sure those are real? I am worried there are more of those out there, and no one knows,” Tang told Canada's CBC News.
Tang only contacted the media after both the Royal Bank of Canada and the Royal Canadian Mint REFUSED to take back the fake gold.
“The bar that came from that package is a piece of junk. That's the million-dollar question, how it ended up in that plastic case,” said Ernest Marbar, the owner of the Gold Lobby that tested the metal.
Corrupt Canadian officials knew they'd have a crisis on their hands if they didn't respond to Tang going public with his findings.
RBC has reportedly taken the wafer back and returned it to the mint for internal testing. The bank refunded Samuel Tang the $1,680 purchase price.
But, how many people are still being naively duped into believing they're investing in real gold?
Source: RT Zero Hedge
How do they know that the f**e bar this guy showed is actually the one he got from the bank?