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A former senior bikie walked into the Perth Mint to buy gold. Officials didn't ask any questions!
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<blockquote data-quote="user 4386" data-source="post: 664692" data-attributes="member: 4386"><p>I don't think the press understands the Shanghai Exchange standards. The gold might have met the 99.99% gold requirement, in which case the exchange got the full amount of gold (Au) it paid for. However it sounds as if an impurity (probably silver) exceeded the maximum amount permitted by the exchange - it must also have less than 0,005% silver (Ag) even if it contains 99.99% Au as required. So I am not sure to what extent the Exchange would be concerned - it will probably simply say that those ingots with higher Ag (only a proportion of what they bought from the Perth Mint) are Grade II not Grade I as claimed, and insist on paying what they pay for Grade II ingots in the case of those specific ingots. My suspicion is that it is a bit of a beat-up.</p><p></p><p>[ATTACH=full]8361[/ATTACH]</p></blockquote><p></p>
[QUOTE="user 4386, post: 664692, member: 4386"] I don't think the press understands the Shanghai Exchange standards. The gold might have met the 99.99% gold requirement, in which case the exchange got the full amount of gold (Au) it paid for. However it sounds as if an impurity (probably silver) exceeded the maximum amount permitted by the exchange - it must also have less than 0,005% silver (Ag) even if it contains 99.99% Au as required. So I am not sure to what extent the Exchange would be concerned - it will probably simply say that those ingots with higher Ag (only a proportion of what they bought from the Perth Mint) are Grade II not Grade I as claimed, and insist on paying what they pay for Grade II ingots in the case of those specific ingots. My suspicion is that it is a bit of a beat-up. [ATTACH type="full" alt="1678169819767.png"]8361[/ATTACH] [/QUOTE]
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General
General Chat
A former senior bikie walked into the Perth Mint to buy gold. Officials didn't ask any questions!
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