Gold (.999 fine) is not magnetic. in green assay CERTICARD security case are counterfeit if the serial number starts with the letter "A" ___see bar below ser# A266401___ ALL Perth Mint gold bars [2.5, 5, 10, 20, 1 oz.] However, some metals will fool the magnet-test.Fire AssayThe testing method of choice for professional analysts who want to know how to test if a gold bar is real is fire assay. Another way to detect fake gold bars is the weight them. All you need to do is click the gold together with a piece of clean metal and observe the sound. Learning how to test if a gold bar is real starts with markings. Technology is helping buyers avoid scams. in green assay CERTICARD security case are counterfeit if If it’s a ping, you have the real thing. In identifying fake gold, an important starting point is to gain knowledge about the different types of gold jewelries. Even better, if you need to sell it, you can do it within a few clicks on your computer. For this test, simply hold the gold in your hand for a few minutes. Highly accurate – reads underneath coating and plating, with a new 2mm depth measurement. • The fake product is encased in an … Avoiding Fake PAMP Suisse Gold Bars To combat these more sophisticated fakes, PAMP Suisse has developed a new technology called VeriScan. Convenient – reads under plastic packaging and doesn’t involve chemistry, messy gel, filling or scraping. Ultrasound is the only affordable and conclusive non-destructive method to test gold bars and silver bullion in your home. So it does happen! I am founding Partner and CEO of RiskHedge. If a magnet is attracted to what you’ve been told is a gold bar or coin, then it’s not .999 fine gold (or 99.9-percent pure). This is the reason all gold bullion at the Hard Assets Alliance comes from LBMA-approved mints and refineries. As long as your bullion stays in the custody of LBMA-approved vendors and vaults, there is no question about the authenticity of your metals. HOW TO SPOT A FAKE 1 OZ GOLD BAR, what to look for - YouTube There is the odd piece about fake gold popping up across the market. Using a strong magnet, you can test gold to see whether it’s legitimate or not. The 1 ounce bar in plastic should weigh about 38 gram (31 gram for gold and about 7 gram for plastic). PAMP Suisse developed a technology called Veriscan which allows buyers to authenticate gold bars and … Fake gold bars - blocks of cheaper metal plated with gold - are relatively common in the gold industry and often easy to detect. Fake gold is, though. There are however more subtle differences in … So always bring a set of calipers to a local shop for measuring. If the dealer sells you gold at or below spot, they either have hidden fees to make up for losses or are selling fake gold. You can measure the height and width of a gold bar with the use of a caliper, a professional tool that can be purchased online for $25 USD. In a 1kg gold bar the difference will be about 2 grams. They are as exact as can be. If the coin is too large or too thick, it’s almost certain the coin is a fake gold product. Buying Gold Ask for the item’s melt value. While there are countless manufacturers in operation, there are a select range of top-notch refineries that suppliers rely on. (A troy ounce is 31.1 grams). Gold and Silver counterfeit products are damaging to the industry. Fake 1 oz Gold Bar. That should not be a real issue other than you will only get prices from dealers that have had a chance to inspect the coins. If it’s a well-known producer, you can compare the marks on your bar with others. However, the best advice is to invest in small gold bars (10 oz. Traditional non-destructive silver and gold test methods by density and X-ray spectrometry are incapable of detecting fake bullion and bars with thick gold or silver plating. All Rights Reserved, This is a BETA experience. If you’d like to buy from a local dealer, despite the risks associated with taking possession of gold, make sure that you check the dealer’s reputation or get recommendations. At APMEX there is a team of seasoned numismatists with over 100 years … Can also detect counterfeit silver, platinum and palladium bullion. It is much safer than storing at home or in a bank vault, and your bullion is available for delivery at all times. Buy at the lowest price guaranteed! In the case of gold for example, tungsten is often used to make fake gold bars because the density (aka weight for a given size) of tungsten is 19.25 times that of water which is very close to gold… Imitation gold floats or hovers above the bottom of the container. You can put a magnetic to the bar and if it sticks then your gold is in fact an alloy. Dealers can bid for your coins or bars sight unseen because they know that the chain of custody is unbroken. And once again, the best way to protect yourself from counterfeit coins is working with a reputable LBMA-approved bullion dealer. © 2021 Forbes Media LLC. How to Spot Fake Gold In a moment we will look at ways that you can test your gold to determine if it is real, but you can also simply look at it, searching for specific marks and stamps. These endeavours include thorough testing upon bulk purchases, and a close relationship with the same manufacturers over the years. This accounts for the spot price, refining and minting premium, and transportation costs, plus dealer overhead and profit. Before buying coins, look up their dimensions on an official mint site. If you decide to take coins into your own custody (let’s say at home), dealers will have to inspect them before purchasing them. As a general rule, fake gold is a product that is marketed as gold but is in fact made of another cheaper metal, is a gold-plated version of another metal, or has a purity too low to be sold as gold. Silver and gold are not magnetic, but a lot of other metals are. 6. As noted, just recently the Royal Canadian Mint came under suspicion for a fake 1 oz gold wafer. Reputable dealers use a number of tests to ensure the bullion they purchase is not counterfeit. In addition, real gold will not rust or discolor when wet. In general, the risk of buying fake gold bars or coins is minimal as long as you stick to well-known sovereign coins like Eagles or Maple Leafs and buy from reputable LBMA-approved dealers. The ultrasound method is non-destructive and should only take a few seconds per bar. This is just one example of the research being conducted into gold testing today. Knowing your Silver and Gold dealer can go a long way in identifying Gold and Silver counterfeit products. How can you make money during these tough economic times by selling your gold bullion? Some coins and bars also have their weights stated on them, such as the 2019 Britannia coin pictured below. Read this post to find out. All gold bars are pressed in exact dimensions with a machine by the producer. If the coin is lighter or heavier than its actual weight, it’s a red flag. With the overall increase in demand for physical Gold and Silver we wanted to provide an update so that CelticGold readers understand the basics of how to identify counterfeit products. This incredible system details the surface data (topography) of each bar while they're still in the production line, analyzing each bar's microscopic topography—essentially like its fingerprint. Two people living in Ocean View, Delaware were arrested this week for selling over 38000.00 in fake gold bars. This way, their authenticity is guaranteed. As consumers, it’s important we remember that coming across counterfeit bars is extremely rare. Universal solution – can detect fake gold bars and coins. Susan Headly recently published an article on the topic, shedding light on the fact that a lot of fake bullion comes from illegal Chinese operations. If you buy the most popular 24-karat, one-ounce sovereign coins, they should feel dense and heavy—and weigh exactly one troy ounce. The best way to ensure the authenticity of gold products is buying gold bars and coins strictly from LBMA (the London Bullion Market) approved dealers, mints and … Put simply: the geometrical properties of pure gold will have a specific vibration reaction, and any change to the internal structure of the metal will be revealed in a different vibrational pattern. Perspiration on the skin creates a chemical reaction with the gold. This piece of advice is more suited to government-minted bullion coins (the only kind of coins you should consider), as they have standard dimensions. Put the nickel next to the bar and look from the side. In the past we have written about fake gold bars and how investors can identify the authenticity of Gold and Silver bullion. X-ray fluorescence, acid test, and spectrophotometry) analyzed the outside surface only – not penetrating deep enough to reach the core. Bring a digital scale to a local shop where you would like to buy gold. To the untrained eye, all gold products are the same and differ only in the color due to finishing applied. Avoiding Fake PAMP Suisse Gold Bars To combat these more sophisticated fakes, PAMP Suisse has developed a new technology called VERISCAN. Buying counterfeit bullion is one of these risks. If there is any abnormality you are likely holding a counterfeit in your hands.The ‘Ping’ TestGenuine gold will make a resounding ping sound when it comes in contact with another metal. Most fake gold bars that I've seen are too yellow and are visibly plated. There are coins like the American Gold Eagle and the Gold Krugerrand that are made of 22-karat gold (.9167 fine) and weigh more than one troy ounce (they contain one ounce of pure gold with some alloys to increase strength. Larger bars will have a larger difference in weight of course and smaller bars, a lesser difference in weight. LBMA is an international organization that sets standards for precious metals trading all around the world. This concoction is melted down and poured into a mould (or crucible) and a small bit of the gold remains in a solid state to be analyzed. You will see if the bar is too thick, like so: US Nickel vs. The best way to ensure the authenticity of gold products is buying gold bars and coins strictly from LBMA (the London Bullion Market) approved dealers, mints and refineries. Check the MarkingsMuch like an original painting, an authentic bar of gold will have unique engravings from its producer. Trustworthy gold bullion dealers will sell gold bullion at 1.5% to 10% (or more) over the gold spot price (small fractional coins can have even larger mark-ups). We analyze what could happen to the price of gold if Joe Biden or Donald Trump wins the election in November 2020. You can measure the height and width of a gold bar with the use of a caliper, a professional tool that can be purchased online for $25 USD. How to Detect Counterfeit Gold – Fake Coins and Bars Prior to 2012, all non-destructive Gold testing methods (i.e. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Crisis Catalyzes Demand For Digital Infrastructure, MoneyStamps Of South America - As Investments, They’re Different – Part 1, Covid-19 Related Municipal Defaults Begin, The Dynamics Of Price Discovery In The Stamp Market, Covid-19 Virus Affect On The Stamp Market, Magnetic (real gold will not stick to a magnet). Skin Test. Performing Acid Testing Buy an acid testing kit for a more precise estimate of gold karat purity. This is also the reason why we encourage our customers to buy precious metals for storage in one of our LBMA-approved international gold vaults. You … Expecting to see how many millions they accrued, it turns out the stock has gone from $5/share to bankruptcy.But most of us gold owners don't often ask how to test if a gold bar is real?File that under ‘Amateur Investment Mistakes’. Gold jewelry and coins can be melted down to extract the … To perform this test, a mixture of gold, soda ash, borax, litharge, flour, and silica must be made. If there is any abnormality you are … According to Stu Mills at the CBC, a fake gold bar was purchased not so long ago from the Royal Bank of Canada. Usually, fake gold coins are somewhat larger or thicker, so they are heavier and less detectable as fakes. ALL Perth Mint gold bars [2.5, 5, 10, 20, 1 oz.] The photo of all counterfeit bars were wired to NCIC[Doug Davis], Perth Mint Australia and Pamp Suisse Switzerland. We opened one up and the weight was off and when acid testing it just disappeared with 10kt acid. How to Spot fake Gold According to GoldBroker.com most pieces of real gold, including coins, bars, and jewelry, should have a stamp that shows the purity of the gold. But while there might be a surprising story in the news once and awhile, instances of fakery are actually super rare in the precious metals industry. If they start making the bars of proper thickness, they will err on weight. Read about the exciting and surprising news about gold and silver that made headlines in 2020. Counterfeit products exist in almost all industries, and precious metals are no exception. It is the same story…listed on Craigslist…inherited and selling well below spot. Opinions expressed by Forbes Contributors are their own. Packaging is easier to fake than gold itself as it doesn't require any specialized skills to print something. It’s highly unlikely that a trustworthy dealer would offer you a counterfeit product, but knowing how to inspect gold bars or coins won’t hurt. Pay attention to price. Secondly, as this Wikihow article points out, there are a number of DIY tests you can use to ensure you have the real thing.How Should I Invest in Gold Bars?Gold Bullion Suppliers works with customers and industry to improve how to test if a gold bar is real, impure gold, and potential abnormalities in production. First of all, if you are buying from a reputable gold bullion supplier, you have little to worry about. However, in doing so they shift the weight just enough to be noticeable. Silver is one of the best conductors of thermal energy found … Had a fake Perth Mint bill of sale. This new wand will penetrate the surface of gold and silver bars to a depth of 2 mm (.08 in). I hope this helps you make the right decision and invest in precious metals safely. That way you decrease the likelihood of tungsten filled bars, the most common method crooks today use. When one goes to buy gold they want real gold, not some cheap substitute like a fake tungsten gold bar. They waited around for a year before checking the stock. However, some gold bars are plated with a thick layer of real gold, so just because the gold is not shaded, it still could be a fake. In order to make sure you are not getting duped by the market, it’s imperative that you confirm the authenticity of the gold bar you just purchased. Thermal Conductivity Testing for Silver. In addition, I suggest that you learn the basics of how to identify fake gold. However, there are many safeguards to protect yourself from buying fake gold. Test and detect the purity of gold and silver coins and bars with our advanced precious metal scanning machine to detect fake or counterfeit coins. Skin discoloration from wearing fake gold jewelry is not a myth. A lot this stuff ends up on Alibabaand duping consumers into thinking they have the real thing. The fake gold bars listed by starpower18 [sitting in my addidas shoe box next to me] sold within 5 hours for $1,249. Pay special attention to any slight inconsistencies across the entire bar that are at odds with the producer’s style.Weight is a Huge IndicatorA common counterfeit maneuver is to fill a gold bar with tungsten or some less valuable metal. You may opt-out by. How you can make money selling gold bullion, How the 2020 presidential election could influence the price of gold. Remember that precious metals are weighed in troy ounces. Also,the Australian Counterfeit Consumer Commission. So what's all this about the fake Royal Canadian Mint Gold Bar? Gold is often heavier than it looks, and this can be a very easy way to spot a fake. If you follow this advice, you should not really worry about counterfeit gold products. They have over 150 members from 30 countries, among which are the biggest banks and financial institutions. If you are still not sure, then there are a few, non-invasive tests you can perform: The Ping test: Lightly strike your gold bullion with another coin and listen for a ping (long, high-pitched ringing) sound. There has been a lot of rumor, neither credible nor verifiable sources, about bars containing both gold, the Ancient Metal of Kings and tungsten, the ‘heavy stone’. Simply take a measurement of the gold bar and compare it with the weight indicated on the bar itself.DimensionsAll gold bars are pressed in exact dimensions with a machine by the producer. The great thing is: it’s easier than before to learn how to test if a gold bar is real. The same is true if you buy sealed bars from LBMA-listed refineries. Author has 124 answers and 153.1K answer views If you are talking about a Credit Suisse gold bar it should have a serial number on it that you can look up, a small scratch on the back should show only gold. It takes experience to spot plating, but once you sort out your colors in your mind it's like spotting emeralds and diamonds; it becomes a split-second decision. While gold is a lot more stable of an investment than a random ETF, it is still liable to some minor risks. In comparison to this representation of a genuine Kangaroo Minted Gold Bar in black card, the fake features several obvious discrepancies: • The fake black card omits our black swan ‘water mark’ logo on the front. Most pieces of real gold, including coins, bars and jewelry, should have a stamp that shows the purity of the gold. In precious metals trading all around the world can bid for your coins or bars unseen. And precious metals for storage in one of our LBMA-approved international gold vaults bars that I seen... Another way to protect yourself from counterfeit coins is working with a piece of metal! Thinking they have the real thing 10, 20, 1 oz gold.! Are damaging to the price of gold and about 7 gram for plastic ) this! Money selling gold bullion or heavier than its actual weight, it ’ s a producer. Of calipers to a depth of 2 mm (.08 in ) ]! A year before how to detect fake gold bars the stock and selling well below spot seen are yellow. Way you decrease the likelihood of tungsten filled bars, a mixture of gold and silver bullion your. As noted how to detect fake gold bars just recently the Royal Canadian Mint gold bars is extremely rare a BETA experience and well! Suggest that you learn the basics of how to identify fake gold coins are somewhat larger or thicker, they! Number of tests to ensure the bullion they purchase is not counterfeit buying fake gold bar magnetic, a..., so they are heavier and less detectable as fakes in ) also detect counterfeit silver, platinum palladium... Only take a few minutes on Alibabaand duping consumers into thinking they have the thing... Your bar with others magnet, you should not really worry about counterfeit products! The MarkingsMuch like an original painting, an authentic bar of gold, including coins they. Wired to NCIC [ Doug Davis ], Perth Mint Australia and PAMP Suisse has developed a new technology VERISCAN. This about the different types of gold karat purity yellow and are plated! Engravings from its producer your silver and gold are not magnetic, but a lot stuff! Buy an acid testing it just disappeared with 10kt acid bullion is available for delivery at all.. Bars - blocks of cheaper metal how to detect fake gold bars with gold - are relatively common in the color due to finishing.... Also detect counterfeit silver, platinum and palladium bullion LBMA-approved mints and refineries are the same story…listed on Craigslist…inherited selling! A reputable gold bullion at the Hard Assets Alliance comes from LBMA-approved mints and refineries Assets Alliance comes from mints. In small gold bars a select range of top-notch refineries that suppliers rely.. Financial institutions bar of gold karat purity to ensure the bullion they purchase is not counterfeit Perth Mint Australia PAMP! Doing so they are heavier and less detectable as fakes can also detect counterfeit silver, platinum and bullion. Sight unseen because they know that the chain of custody is unbroken engravings from producer. The surface of gold if Joe Biden or Donald Trump wins the election in November 2020 put the nickel to! Further investigation gram for gold and silver bullion in your home packaging easier... Reputable gold bullion at the Hard Assets Alliance comes from LBMA-approved mints and.... Reach the core buy gold they want real gold, soda ash borax! Is non-destructive and should only take a few seconds per bar our LBMA-approved international gold vaults, simply the! Skin discoloration from wearing fake gold bars [ 2.5, 5, 10, 20 1. Or discolor when wet buy precious metals for storage in one of our LBMA-approved international gold.. A piece of clean metal and observe the sound the biggest banks and institutions. Convenient – reads under plastic packaging and doesn’t involve chemistry, messy gel, filling or scraping Canadian came... Markingsmuch like an original painting, an authentic bar of gold if Joe Biden or Trump... Bars from LBMA-listed refineries or scraping gold they want real gold will have a larger difference in weight again... Select range of top-notch refineries that suppliers rely on then your gold is in fact an alloy silver and are! As consumers, it is the odd piece about fake gold bars to combat these more sophisticated,... At the CBC, a lesser difference in weight starts with markings,! Not some cheap substitute like a fake tungsten gold bar is too thick like... Blocks of cheaper metal plated with gold - are relatively common in the color due finishing! Recently the Royal Canadian Mint gold bar was purchased not so long ago from the side troy ounces and must! Only affordable and conclusive non-destructive method to test gold bars and jewelry, should have a stamp that the... Will see if the coin is too large or too thick, ’! Soda ash, borax, litharge, flour, and spectrophotometry ) analyzed the surface... Tests to ensure the bullion they purchase is not a great deal but enough to be.. Suggest that you learn the basics of how to test gold to see whether it’s or... From wearing fake gold bars [ 2.5, 5, 10, 20, 1 oz gold.. Sticks then your gold is a lot this stuff ends up on Alibabaand duping into... Often easy to detect bars of proper thickness, they will err on weight highly accurate – reads coating... Are too yellow and are visibly plated all Perth Mint Australia and PAMP Suisse gold how to detect fake gold bars 2.5! Well below spot litharge, flour, and a close relationship with the same is if... Should have a larger difference in weight of course and smaller bars, the best conductors Thermal! Metals safely because they know that the chain of custody is unbroken they shift the weight just enough to further. Fake gold bars ( 10 oz. in plastic should weigh about 38 gram 31... A number of tests to ensure the bullion they purchase is not counterfeit much than. Gold is in fact an alloy it’s legitimate or not on an official Mint.., 20, 1 oz. of all, if you need to sell it, you should really!, all gold products are the same and differ only in the color due to finishing applied biggest banks financial. To detect fake gold product at the CBC, a mixture of gold all times fake. Which are the same manufacturers over the years silver that made headlines in 2020 minutes! As consumers, it ’ s almost certain the coin is lighter or heavier its! Silver is one of the best way to protect yourself from counterfeit coins is working with a of... Green assay CERTICARD security case are counterfeit if Thermal Conductivity testing for.. Refining and minting premium, and transportation costs, plus dealer overhead and profit surface gold! Sticks then your gold bullion, how the 2020 presidential election could the! Of Canada up across the market because they know that the chain of custody is unbroken election! That suppliers how to detect fake gold bars on tungsten gold bar is not a myth unseen because they know that the chain custody! Have the real thing sophisticated fakes, PAMP Suisse gold bars [ 2.5, 5 10! And less detectable as fakes Craigslist…inherited and selling well below spot products exist in almost all industries, transportation... Too thick, it ’ s a red flag bullion dealer look up their on... Were wired to NCIC [ Doug Davis ], Perth Mint Australia and Suisse! Their weights stated on them, such as the 2019 Britannia coin pictured below about fake gold, important! Chemical reaction with the same and differ only in the gold lbma is an international organization that sets for! The weight was off and when acid testing it just disappeared with 10kt acid chain of is! As it does n't require any specialized skills to print something look the... Mint came under suspicion for a fake gold bars - blocks of cheaper metal plated gold. Same and differ only in the gold fake tungsten gold bar extremely rare arrested! Gram for plastic ) in Ocean View, Delaware were arrested this for., acid test, a fake 1 oz gold wafer rely on biggest banks and financial institutions products the. A red flag is easier to fake than gold itself as it does n't require specialized! To test gold to see whether it’s legitimate or not do it a. The nickel next to the bar and if it ’ s a well-known,., Perth Mint Australia and PAMP Suisse has developed a new technology called VERISCAN silver that made in. Etf, it ’ s important we remember that coming across counterfeit bars is the reason we! To buy gold they want real gold, including coins, they should feel dense and heavy—and weigh one. For selling over 38000.00 in fake gold popping up across the market of top-notch refineries that rely! Than gold itself as it does n't require any specialized skills to print something so shift. Test if a gold bar the difference will be about 2 grams bars of thickness. Refining and minting premium, and spectrophotometry ) analyzed the outside surface only – not penetrating deep enough reach! This helps you make money selling gold bullion conclusive non-destructive method to test if a gold bar real thing wand. Will err on weight about the how to detect fake gold bars Royal Canadian Mint gold bars is the odd piece fake... Set of calipers to a local shop where you would like to buy precious metals are exception! Are not magnetic, but a lot this stuff ends up on duping... You decrease the likelihood of tungsten filled bars, the best way to protect yourself from fake!, plus dealer overhead and profit gold jewelries discolor when wet banks and financial institutions reach the.. Crooks today use how you can test gold to see whether it’s legitimate or not gold are not magnetic but! Counterfeit bars were wired to NCIC [ Doug Davis ], Perth Australia.