For many centuries, Gold has been the King of how people store their wealth. With a spot price per ounce that is in the 1000s, there is no end in sight for how high the price of gold can go. This is why many investors put their faith and dollars into the shiny yellow metal. Just like many things that are bought and sold, there is the possibility that counterfeits could be sold to the general public.
This is possible because the element tungsten's density is weighed at 19.25 grams per cubic centimeter while the density of gold is 19.25 g/cm3. This allows for fake gold coins to be composed of tungsten and plated with gold. Sometimes, legitimate gold coins have their gold extracted and replaced with tungsten.
So, what is the solution to this problem? According to Dr. Eric Thorsgard, COO of Cutting Edge Opportunities, his new hybrid element osmiridium is the answer. Osmiridium is created by combining the elements osmium and iridium together. He claims that there is no metal that could be used to counterfeit coins that are created with this fusion.
Now, this all sounds great. The only problem is creating interest and market for coins created using these two metals. Thorsgard claims that the signs are there that could push Osmiridium to the next level. First, it is 500 times less abundant than gold. In addition, osmiridium is 10 times less abundant than rhodium. It is worth noting that the price of the volatile metal was $10,000 at one time.
So, what do you think? Is is possible that coins made with these metals could take off? Could they take over for Gold? Is is possible that part of the appeal of Gold is that it could possibly be a knock-off? If there is no chance that coins in the future could be counterfeited, what will that do to the market?