Counterfeiters target 1-ounce gold PAMP bars, packaging

Marketplace deals with latest infiltration
By , Coin World
Published : 03/04/16
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Counterfeiters continue to target their numismatic prey. The latest victim is the struck Lady Fortuna 1-ounce .9999 fine gold bullion bar from PAMP (Produits Artistiques Métaux Précieux) in Switzerland.

What makes the latest counterfeit rather unusual is that not only is the rectangular bar counterfeit, but so is the blister-pack packaging in which the fake bar is secured.

Investigators with the Broward County Sheriff’s Department in Florida are investigating an attempt to pass several of the bogus 1-ounce PAMP bars at Fisher Precious Metals in Deerfield Beach, Fla.

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John Fisher, president of Fisher Precious Metals, told Coin World a couple came to the firm’s office the afternoon of Feb. 16 trying to sell three purported 1-ounce gold bars bearing the PAMP hallmark and Lady Fortuna designs. The couple claimed to have owned the bars for some time, Fisher said.

Fisher said he accepted the bars “on memo,” delaying any payment until the bars could be properly authenticated.

Fisher said he forwarded the bars to a wholesale distributor for examination who determined the bars to be counterfeit.

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Several days later, the couple returned seeking payment for the first three bars and to offer additional PAMP bars, along with 1-ounce gold bars purportedly produced by The Perth Mint in Australia.

Broward County Sheriff’s deputies were at Fisher’s office when the couple arrived, Fisher said; he had contacted authorities after learning the bars were fake. No arrests were made and an investigation is ongoing.

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