PawnMaster Blog

Fake Gold

Posted on 22 Nov 2017

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GOLD CHAIN.jpgTo the right is a gold chain that GEIB received in with a melt lot. We noticed the chain, along with a few other pieces but something about this piece in particular just didn’t add up to being "RIGHT", so we went a little further on this rope chain. For the record, we will spot check some pieces for the benefit of our clients and us as well, in almost every shipment but it’s not possible to do every piece on every shipment which is why we melt, sample and fire assay. Something about this piece just didn’t look right. This piece turned out to be HEAVILY PLATED, MARKED 14kt gold. It was gold but not all the way through. We stripped a little portion of it and tested the now “dark portion” and it wasn’t gold (stainless steel). You can see the difference and we reported it to our client & returned it. Our client was very appreciative of our efforts. This is a perfect example of something that was IDENTIFIED. There are plenty of instances where we don’t or aren’t able to IDENTIFY & CATCH it BEFORE it goes to melt and guess what... The numbers come back “little short” of expectations or “assay little low” this time. OR there may have been a problem where we had to rake out some stainless (like a class ring). Remember something please, there are still great companies and great people in the world who care about doing good business and care about clients like my company, GEIB REFINING CORP. Sometimes things happen that can be explained and sometimes they just can’t be explained.

I have a saying that I have used for almost 18 years in the refining industry, “Metal Speaks” sometimes we can find a logical explanation and sometimes there just isn’t but “Metal Speaks.” I think you understand what point I’m trying to express. You can meet someone at a bar and maybe they’re shiny and pretty or handsome but inside they’re stainless steel. They are of no value. If you trust your refiner and trust they are with you to do good business for the long haul for the benefit of your business - then trust the numbers. We are ALWAYS happy to X-RAY pieces that are in question and either add to melt if they are good or return them to you by mail. Please let me know (or your rep) that you are sending pieces in question, keep them separated with a note saying, "PLEASE X-RAY AND REPORT" and we’ll get your questions answered – no charge. I hope that’s fair.

As always, please feel free to call, text or email me anytime. I’m happy to be of help to you always.

Peter@geibrefining.com or 401-595-4516. You may also call the office 800.228.4653 (gold)

Peter B. Spector

Written by Peter B. Spector

I have a true passion for my work and for the clients I am grateful to have represented throughout the United States for almost 17 years in the Precious Metal Refining Industry. I am always in search of clients looking for the extraordinary customer service I provide on behalf of my company, GEIB Refining. My Best is what you'll get every day, every transaction. Always.

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