- The Perth Mint and WA Police join forces to warn customers about the risk of counterfeit gold and silver products sold through online marketplaces
- Scammers seek to take advantage of high gold prices and exploiting unsuspecting customers with bars that look real
- The best way to eliminate the risk of buying fake gold is to only purchase products from reputable dealers such as The Perth Mint or one of its approved distributors
- Anyone who suspects they have been sold counterfeit gold urged to report it to police
Scammers are exploiting demand for gold amid historically high prices for the precision metal by selling fake bars and coins.
The Cook Labor Government is warning unsuspecting buyers that some fake gold products bear lookalike markings and packaging of The Perth Mint.
The Mint and WA Police are working together to alert customers to the threat and provide guidance on how to avoid falling victim to these scams.
Some of the scams include counterfeit products being sold through online sites such as eBay and Facebook Marketplace and even being traded in exchange for goods and services.
Customers then email the Mint, or attend in person, to verify their products are legitimate only to find out they have been conned.
People looking to purchase precious metals should protect themselves from unscrupulous scammers and only purchase products from reputable and trusted dealers.
The Perth Mint and WA Police will continue to work closely together to combat the sale of counterfeit gold by investigating reported incidents, supporting enforcement actions and raising consumer awareness about this serious issue.
As stated by Mines and Petroleum Minister David Michael:
"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.
"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.
"The Mint is working closely with WA Police to raise awareness and protect people from being ripped off."
As stated by Police Minister Reece Whitby:
"Criminals are becoming increasingly sophisticated in how they deceive people and unfortunately the sale of counterfeit gold and associated scams are no exception.
"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.
"We want the public to be informed, alert and empowered to protect themselves. If something doesn't feel right, report it. Your vigilance could prevent others from being scammed."
