Fake gold like every other replica looks enticing, more appealing, and many people end up buying fake gold. It is when they come to us to sell gold, do we assess and dig out the real story. Gold is easy to fake and replicate and if you are not paying attention or buying from a certified seller, you will end up paying much more than what you get.
Research says that gold has always been in demand and in the last nine years, the prices have escalated to an all time high. A whopping 296.1%. Today gold is primarily an investment and people buy the metal to secure themselves financially for the future.
Because of its huge demand, gold is counterfeited regularly, and the only way to insulate yourself from being duped is to empower yourself with knowledge.
Knowledge to differentiate the real from fake gold
Here we have collected some tips for you to differentiate real gold from fake. As gold buyers in Toronto we use some of these methods ourselves. Most professional testers use some of these methods too.
- Size Test: If you have a coin or gold bullion, try to find out the ideal size of the item. If the piece you possess conforms to the ideal size, your gold is real. You can find out the diameter of the item with a pair of calipers. Even if your item is mixed with another metal size would be different, even if the replicators were able to match the weight.
- Magnet Test: Gold has zero magnetic properties. So if you hold a magnet to your gold coin or bullion, it shouldn’t stick. If it does, you are in hard luck. However, it is wise to use this test along with another, since the metal used in the gold to counterfeit the piece could be impervious to magnets too.
- Assay Test: An age old practice to test gold has been the fire assay. This is a professional test and professional gold testers carry out this test. Even miners and gold explorers employ this test to determine whether their find is real. There really are two types of assays:
- Fire Assay
- Aqua Regia Technique
A professional tester should follow either of the methods.
- X-Ray Test: The x-ray test is an effective way to determine the value of gold. Gold buyers often employ this test to determine the gold that they are buying. There are very few chances of error in this method and the assessor should be able to tell you even the purity and fineness of the gold that you are getting assessed. If there are any other elements present, the assessor should be able to tell you that as well.
- Ultrasound: Similar to the x-ray is the ultrasound. The ultrasound test method is effective because the assessor can see through the metal, and nothing is hidden. This attaches a good degree of trust on this test, and cross checked with another method like x-ray or assay, this method should be a foolproof test for your gold.
When we buy gold, we employ various methods to determine the true value of your gold and also its authenticity. It is always best to sell your gold after a proper assessment, so you know the true value of your gold. Also, try buying gold from a reputed seller, to minimize your chances of being duped.
Choose the right buyers to get the most out of your gold valuables.