Egypt Gold Shops Targeted with Counterfeit Copper Jewelry
Marsad Al Dahab has warned of an attempt to pass off copper jewelry as gold by attaching counterfeit logos from reputable companies. The warning comes after several dealers in different locations reported finding similar pieces during the current period.
Inspecting only the surface of a suspicious piece may not be sufficient, according to Marsad Al Dahab. Dealers need to conduct an internal examination by filing the piece more deeply or cutting a small section to verify the metal and its actual purity.
The information brings renewed attention to a pattern of fraud previously documented in official seizures. In several cases, gold shops themselves were targeted, rather than only end consumers.
High gold prices mean passing off even a small number of counterfeit pieces can generate substantial illegal profits. A retailer who buys such an item bears the immediate financial loss and could also suffer reputational damage and face legal consequences if the piece is resold before its true composition is discovered.