Not Everything that shines is gold: do NOT get scammed by counterfeit Gold & Silver!

Posted by MA on 4th Sep 2014

Not Everything that shines is gold: do NOT get scammed by counterfeit Gold & Silver!

So we all know that there is a counterfeit to every type of currency in most societies. Great, now I want to help our readers identify the difference between what is real and what isn’t.

Gold has been in demand for centuries thus far – contributing to society’s growth and its value. Its importance is the reason there are so many “faux gold” products dispersed across the world. Then there those out there who make a living from selling counterfeit coins and fake gold bars. Here are a few tips to help prevent yourself from buying counterfeit precious metals.

First thing first, you have to know who you’re buying from. Always make sure to know that your sellers are trustworthy and honest and purchase their gold from a credible gold/silver dealers.

Second, you can inspect the jewelry on your own and make sure to check for the stamps that reside inside or behind the piece. A stamp will indicate either fineness (1-999 or .1-.999) or karat (10K, 14K, 18K, 22K or 24K). However, some older pieces can be so worn out that it has diminished the stamp. Also, there are many counterfeit pieces out there that can still replicate the stamp to making it look authentic. If that is the case, it is best to take it to a local jeweler to help you identify the metal.

Another method to test out your gold is by checking out the density. There are a few metals that are denser than gold. Measuring the density of your items can help you determine if your gold is real. As a rule of thumb, the higher the density, the purer the gold. Make sure to perform the density test on gold that has no gemstones of any kind attached.

High quality fake silver coins and bars are a serious threat to your local coin shops, online bullion dealers everywhere, and to all physical bullion investors.

Many high quality silver fakes have exact weighting and dimensions, and to the naked eye ( or to the dealer without counterfeit proofing technologies ) fake bullion products can easily be passed off, as bonafide bullion products.

How to avoid fake bullion products!

- Know your dealer and who you are buying from

- Make certain they have counterfeit proofing measurements in place to assure they never accidentally introduce fake bullion products into their inventories.

- Make certain your dealer guarantees authenticity of every product they are selling to you.