As precious metals continue to gain popularity as investments, counterfeit items are a growing concern. There are a variety of ways to spot fake gold and silver, but not all are foolproof. Many bullion dealers provide assay cards and certificates of authenticity for the purchases made through their business. This ensures the metal is genuine and allows the purchaser to make informed decisions about their investment.
But what if you are investing in gold or silver from a dealer who does not offer assay cards or certificates of authenticity? Or what if you have inherited some old coins or bars from a family member and are unsure of their authenticity? There are several home-based tests you can use to determine the authenticity of your precious metals.
The Water Test
One of the most straightforward and easy-to-use tests to see if your gold is real is to place it in a bowl of water. If the gold sinks, it is likely not true gold. However, if the piece floats it is likely a less pure gold such as gold filled or gold electroplate.
The Magnet Test
Another simple and inexpensive way to test for the authenticity of your gold is to hold it up against a strong magnet. Genuine gold does not stick to a magnet and will feel heavy in your hand, while other metals such as lead or brass will stick.
The Ceramic Scratch Test
You can also use a ceramic scratch test to determine the purity of your gold bullion coin or bar. To perform this test, you will need a jeweler’s stone or an unglazed ceramic plate or porcelain tile. Then, scratch the surface of your gold bullion with the ceramic scratch test material. If the mark remains, it is probably gold, but if it scratches off easily it could be another metal.
The more research you do, the more protected you will be when purchasing or selling your precious metals. It is important to collaborate with reputable Virginia Beach gold dealer or institutions and utilize professional assaying or testing services for precise and accurate results. Additionally, be wary of deals that seem too good to be true. Scams are common in the industry, so it is important to remain vigilant and stay updated on the latest tactics and techniques used by fraudulent sellers.