This blog
is a new project started after purchasing two 5-gram Special edition PAMP gold
bars from a reputable gold, silver and currency shop with departments in many
European Countries.
I noticed that the verification serial number was not correct;
it did not have a letter in front of the 6-digit verification code. After a lengthy
request to check the flaw, the 3rd time the manager of the shop came and gave
me the worst BS excuse about the missing letter in the verification code of authenticity.The problem was that the manager claimed that first digit
was the letter O and not the number zero, 0, and the missing last number in the
6 digit code was correct, as they trusted their source, I gave up and sold 1
back and will scan the other later.
I will not name the shop this is
only to create awareness about being careful and not lose money. The laws for
refunds of precious metals are against the consumers due to the fluctuations of
index prices, and vendors have the laws on their side as they are not obligated
to refund when the purchase is done, only if it is fake then it often the
vendor that checks it. Most if not the vast majority of shops with honest intentions are victims themselves, as counterfeiting is
getting constantly better, but they should do a better job and buy the proper
testing equipment.
The problem is that they are among the few
that are on the PAMP list of trusted
venders, but they state on their own
website that all their products must have a letter and six numbers to be
authentic as a minimum. The Special edition gold bar series was old, it was visible
looking at the ultra-thin plastic sheath cover, and was sold at a lower premium
than normal, it seemed as the best deal ever, numismatic
and cheaper looks like a win win situation. The condition made it doubtful is
was from PAMP, most likely from a collector with a large surplus of gold bars with
a missing letter in the verification id, as they all had two 0 as the first id
letter or numbers
But I have really good update about the experience, it is now tested with X-rays and the customer can see it tested and I was offered to bring anything I would like tested for free, that is fantastic service.
There are a few apps that I am testing, that can test gold and silver coins for smartphones, so far the silver test app is very good, I will review them all later and compare them.
I will post
about positive and negative experiences, how and where to get gold and silver
coins tested for purity and precise percentage content of metals found in the
test. I write it in English, as this is a problem for
everyone living in Copenhagen, and as I purchase from other European countries,
feedback from others living in other cities could help everyone if they have
information that can be vital before investing a lot of money.
I have expanded the blog to more than gold and silver, I have included the new digital gold and silver, digital currencies like Bitcoin, Bitcoin Gold , Ether, BitcoinCash other currencies are not interesting enough to me to spend more time studying.
The ICO is IMO the best way to get poor fast, with often a simple concept that is so specific that it borders to stupidity, crazy high bonus for early investors, the white papers are scary to read on how worthless they are, how they have so many various ways to keep the investment, total control, no liability or in countries that are infamous when it comes to legal action, extremely limited use outside their project.
The vast majority of them are basically a greed scam, a few have interesting ideas, a few out of more than 1200+ ICO soon. For the first time I agree with China that it can destroy the economy, as it is huge amount of money that are scammed, we have already seen an ICO crash with an approximate loss of US$250M, 250'000'000US$, imagine if only half of them don't reach the soft or hard cap, in a few years it could be over 1000 ICO that don't reach the goal, nearly every day a few new ones start up, it's improbable that the majority can be reach the funding, get a hold of a new market that has not been explored yet, get the trust from the users, companies, developers that is vital for its existence, have the functionality promised, the lack of exchange in vast majority of them to any other kind of currency, use outside of the very specific use between those who have invested in them, except for the inventors.
I could be completely wrong but I don't want to spend any more time on if ICO is a good investment at all, I don't want to and can't waste any more of my time and others as I don't know much about them.
I will narrow my time researching news on gold and silver coins that I have spent most time researching as a collector and as a safe investment and the traps to avoid, but I have expanded my time researching Bitcoin, Ether, BitcoinCash, Bitcoin Gold as the digital currencies that I am most interested in.
Any questions or comments are welcome.
Best regards Kim H
