The Perth Mint is dealing with a spate of scammers imitating its gold. Photo: The Perth Mint.
The Perth Mint and WA Police have joined forces to warn customers about the risks of online gold and silver trading as scammers take advantage of historically high prices for the precious metals.
Scammers across the state have been exploiting online customers with fake bars by using the high price of one of Western Australia’s most recognisable resources.
Customers and would-be Scrooge McDucks are urged to purchase gold exclusively from reputable dealers such as The Perth Mint or an approved distributor.
The Cook Labor Government has warned unwitting buyers that some of the fake gold may even bear false markings of The Perth Mint.
“We know there are counterfeit products circulating in the market, some with packaging and markings designed to mimic the Perth Mint’s precious metal products,” Mines and Petroleum Minister David Michael said.
“These fakes are often highly sophisticated and the result can be devastating for customers when they realise they’ve been scammed.
“If a deal seems too good to be true, it probably is and that’s why we’re urging customers to do their due diligence and only purchase gold and silver precious metal products from reputable and trusted dealers like the Perth Mint, which is owned by the people of Western Australia.”
Many of the scams involving these counterfeit products are being perpetrated online through sites such as eBay and Facebook Marketplace or are being traded for goods and services.
Some of these customers then inquire with the mint about the legitimacy of their glittering goods only to find they’ve been duped.
The Perth Mint and the WA Police will continue their collaboration to stop the sale of counterfeit gold by investigating incidents, raising consumer awareness and supporting enforcement.
“Criminals are becoming increasingly sophisticated in how they deceive people and unfortunately the sale of counterfeit gold and associated scams are no exception,” Police Minister Reece Whitby said.
“WA Police continue to investigate and disrupt these operations, but prevention is just as important. That’s why it’s critical we work together with trusted organisations like The Perth Mint to raise public awareness.”
