How to turn 4.5 grams of gold into 920,000 US dollars; and what is puking a market?
by clif high, December 5, 2015 8:58pm (way past my usual bedtime, but could not resist the idea)
So, of course, fraud is involved. Let us be straight up about that. How else could 4.5 grams of gold be sold for $920,000. But also, let us be clear about how damn easy it is....so here is the concept, at least enough details to get the idea across.
These days rare roman coins such as the aureus minted by Emperor Alexander Severus, are greatly sought after by the power elite. Not only as they are relatively pure gold at 99% (24 carat), but for the historical value and scarcity.
So, the idea for the fraud, in case you are crafting a movie or novel, is to take a digital image of the coin, convert it to 3d software, and then reproduce it in hardened casting wax by way of 3d printer to exact dimensions. Then obtain 10 grams or so of gold, making sure to have it be 99% pure, but with the proper amounts and ratio of 'pollutants' of silver and copper. Once that is gathered, melt it up, and cast a few aureus coins. Scuf them up a bit, and then introduce them into the rare coin market by whatever means moves along the plot of your movie/novel.
Due the the wonders of digital information technology it is now nearly impossible to know anything for certain. The best we can achieve without actually being there...is to maintain a certain element of acceptance, but distrust.
Due to the wonders of digital information technolgy it is now possible to duplicate nearly anything to levels of precision unknown to previous generations. Thus fraud, in the form of counterfeiting (of nearly anything), can become something of a household industry. As the technology is pushed down in cost and ease of use, it spreads out potentials in all directions, including criminal use. Of course, this should come as no surprise, considering the fraud at the top...as above, so below.
In any case, and by way of wrapping up, a market is 'puked' when all of a sudden the element of 'doubt' creeps into 'value'. So, as an instance, would you go to an auction now, and pay $920,000 for any coin claimed to be an aureus? You see, it need not be factual in any given instance, but once doubt is spread the market is puked forever.
Consider the rare gold roman coin market to be puked. Buy at your own risk.
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