How To Avoid Buying Fake Gold Bullion

Anyone that is serious about collecting gold bullion has some concern about fake or counterfeit gold. The stories of gold bars being drilled out and filled with tungsten are a dime a dozen and there will always be fakes on the market. Counterfeiting has been around equally as long as the concept of money. So how do you tell if what you’re buying is the real deal? Here are some methods that investors use when determining the validity of a seller’s goods.

The Ping Method

All metals have different molecular make ups, densities and elements. One way to tell if a gold coin is authentic is by tapping it and giving a listen. The sound will resonate much more and for longer in high quality gold, where other metals will have a noticeably dull sound with a short life. Think about like a wine glass. If you flick a glass, it will definitely have a less appealing sound than if you do the same to crystal.

Acid To Seek The Truth

This method is surely more in depth as you will need some goodies with you to administer the test. You’ll need something sharp, such as a pocket knife and some nitric acid. What you want to do is make a small strike on the gold item in question, be careful not to damage the piece, then put a drop of the nitric acid on the strike. If what you’re holding is low quality or worse, not even gold at all, the acid will immediately turn a shade of green. If the mark turns a milky colour, then what you are holding is gold over silver. In the event that nothing happens, hooray! You’re holding genuine gold!

The Guaranteed Check

If you are serious about investing in or buying gold then the best way to be sure you’re getting top quality, real gold is to go with a reputable gold dealer. For example, you can get Australian gold bullion at City Gold Bullion. If you don’t want your hard earned dollars turned into fool’s gold then going with a respected dealer is the closest to a sure bet you are going to find. Some things are better left to professionals and you will have peace of mind knowing that your gold is 100% genuine.

A Magnetic Affair

There are a lot of reasons gold is a coveted metal. One of those is something that may not jump to the forward of your mind. Gold is not magnetic. This is one of the reasons it’s used in space travel and circuitry, it’s wholly unaffected by magnetic fields. Go and get yourself a high power magnet from the hardware or auto parts store. If the piece sticks to the magnet, then it’s not gold, or at least not pure gold. Keep in mind if you are looking at a necklace or bracelet that it is common for the clasp to be made with other alloys. Gold is too soft so clasps are often made of stronger metals. So if the clasp sticks to the magnet but the band or necklace doesn’t, then it’s gold and the clasp is not.