The Perth Mint and Western Australian police are warning investors about a surge in counterfeit gold sales, as criminals capitalize on historically high gold prices. These scams involve the sale of fake gold bars and coins, often bearing markings and packaging designed to resemble genuine Perth Mint products. According to WA Mines and Petroleum minister David Michael, counterfeit products are being sold through online platforms like eBay and Facebook Marketplace, and even traded for goods and services.
Police minister Reece Whitby emphasized the increasing sophistication of these scams, noting that criminals are becoming more adept at deceiving people. The Perth Mint is collaborating with WA Police to investigate reported incidents, support enforcement efforts, and raise consumer awareness. Authorities urge potential buyers to exercise caution and purchase precious metals only from trusted sources to avoid being defrauded. Victims often only discover the deception when they attempt to verify their purchases with the Mint.
