However, the best advice is to invest in small gold bars (10 oz. For this test, simply hold the gold in your hand for a few minutes. HOW TO SPOT A FAKE 1 OZ GOLD BAR, what to look for - YouTube I hope this helps you make the right decision and invest in precious metals safely. And once again, the best way to protect yourself from counterfeit coins is working with a reputable LBMA-approved bullion dealer. In a 1kg gold bar the difference will be about 2 grams. The same is true if you buy sealed bars from LBMA-listed refineries. This is just one example of the research being conducted into gold testing today. 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. 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. 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. Before buying coins, look up their dimensions on an official mint site. 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. If you buy the most popular 24-karat, one-ounce sovereign coins, they should feel dense and heavy—and weigh exactly one troy ounce. If the coin is too large or too thick, it’s almost certain the coin is a fake gold product. Had a fake Perth Mint bill of sale. Gold is often heavier than it looks, and this can be a very easy way to spot a fake. How to Detect Counterfeit Gold – Fake Coins and Bars Prior to 2012, all non-destructive Gold testing methods (i.e. 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… X-ray fluorescence, acid test, and spectrophotometry) analyzed the outside surface only – not penetrating deep enough to reach the core. 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. If there is any abnormality you are … 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. There is the odd piece about fake gold popping up across the market. © 2021 Forbes Media LLC. All gold bars are pressed in exact dimensions with a machine by the producer. Buying Gold Ask for the item’s melt value. They are as exact as can be. Most fake gold bars that I've seen are too yellow and are visibly plated. Avoiding Fake PAMP Suisse Gold Bars To combat these more sophisticated fakes, PAMP Suisse has developed a new technology called VERISCAN. All Rights Reserved, This is a BETA experience. In identifying fake gold, an important starting point is to gain knowledge about the different types of gold jewelries. 6. When one goes to buy gold they want real gold, not some cheap substitute like a fake tungsten gold bar. 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. Larger bars will have a larger difference in weight of course and smaller bars, a lesser difference in weight. Knowing your Silver and Gold dealer can go a long way in identifying Gold and Silver counterfeit products. This is the reason all gold bullion at the Hard Assets Alliance comes from LBMA-approved mints and refineries. Most pieces of real gold, including coins, bars and jewelry, should have a stamp that shows the purity of the gold. Remember that precious metals are weighed in troy ounces. 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. 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. That way you decrease the likelihood of tungsten filled bars, the most common method crooks today use. 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. 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). 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. 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. So what's all this about the fake Royal Canadian Mint Gold Bar? 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 it’s a ping, you have the real thing. At APMEX there is a team of seasoned numismatists with over 100 years … These endeavours include thorough testing upon bulk purchases, and a close relationship with the same manufacturers over the years. All you need to do is click the gold together with a piece of clean metal and observe the sound. Gold (.999 fine) is not magnetic. Pay attention to price. Buying counterfeit bullion is one of these 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. 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. You may opt-out by. They have over 150 members from 30 countries, among which are the biggest banks and financial institutions. Avoiding Fake PAMP Suisse Gold Bars To combat these more sophisticated fakes, PAMP Suisse has developed a new technology called VeriScan. You … It is much safer than storing at home or in a bank vault, and your bullion is available for delivery at all times. Not a great deal but enough to warrant further investigation. The great thing is: it’s easier than before to learn how to test if a gold bar is real. If you decide to take coins into your own custody (let’s say at home), dealers will have to inspect them before purchasing them. (A troy ounce is 31.1 grams). Skin Test. Silver is one of the best conductors of thermal energy found … The ultrasound method is non-destructive and should only take a few seconds per bar. Read about the exciting and surprising news about gold and silver that made headlines in 2020. 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). Two people living in Ocean View, Delaware were arrested this week for selling over 38000.00 in fake gold bars. LBMA is an international organization that sets standards for precious metals trading all around the world. Gold jewelry and coins can be melted down to extract the … Highly accurate – reads underneath coating and plating, with a new 2mm depth measurement. Read this post to find out. 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. A lot this stuff ends up on Alibabaand duping consumers into thinking they have the real thing. Performing Acid Testing Buy an acid testing kit for a more precise estimate of gold karat purity. 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. Some coins and bars also have their weights stated on them, such as the 2019 Britannia coin pictured below. If it’s a thud, the bar is likely filled with any range of metals other than gold.Is it Magnetic?One of the easiest ways how to test if a Gold Bar is real is with a rare-earth magnet. There are however more subtle differences in … PAMP Suisse developed a technology called Veriscan which allows buyers to authenticate gold bars and … While gold is a lot more stable of an investment than a random ETF, it is still liable to some minor risks. 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. Another way to detect fake gold bars is the weight them. Even better, if you need to sell it, you can do it within a few clicks on your computer. 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’. Imitation gold floats or hovers above the bottom of the container. Fake gold bars - blocks of cheaper metal plated with gold - are relatively common in the gold industry and often easy to detect. Learning how to test if a gold bar is real starts with markings. Packaging is easier to fake than gold itself as it doesn't require any specialized skills to print something. in green assay CERTICARD security case are counterfeit if Dealers can bid for your coins or bars sight unseen because they know that the chain of custody is unbroken. We analyze what could happen to the price of gold if Joe Biden or Donald Trump wins the election in November 2020. 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. 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.] The fake gold bars listed by starpower18 [sitting in my addidas shoe box next to me] sold within 5 hours for $1,249. We opened one up and the weight was off and when acid testing it just disappeared with 10kt acid. Using a strong magnet, you can test gold to see whether it’s legitimate or not. Check the MarkingsMuch like an original painting, an authentic bar of gold will have unique engravings from its producer. Fake 1 oz Gold Bar. Thermal Conductivity Testing for Silver. 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. In addition, real gold will not rust or discolor when wet. 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. 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. Fake gold is, though. Also,the Australian Counterfeit Consumer Commission. or less). 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. You will see if the bar is too thick, like so: US Nickel vs. They are as exact as can be. 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. In the past we have written about fake gold bars and how investors can identify the authenticity of Gold and Silver bullion. 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. We’ve all heard stock market sob stories... A friend of a friend tried investing $1000 in a penny stock because they thought it would make them millions. How can you make money during these tough economic times by selling your gold bullion? Fake 1 oz Gold Bar US Nickel vs. 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. To the untrained eye, all gold products are the same and differ only in the color due to finishing applied. Counterfeit products exist in almost all industries, and precious metals are no exception. 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. You can put a magnetic to the bar and if it sticks then your gold is in fact an alloy. 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. As noted, just recently the Royal Canadian Mint came under suspicion for a fake 1 oz gold wafer. Technology is helping buyers avoid scams. Buy at the lowest price guaranteed! 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’. While there are countless manufacturers in operation, there are a select range of top-notch refineries that suppliers rely on. 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. This way, their authenticity is guaranteed. ALL Perth Mint gold bars [2.5, 5, 10, 20, 1 oz.] According to Stu Mills at the CBC, a fake gold bar was purchased not so long ago from the Royal Bank of Canada. Ultrasound is the only affordable and conclusive non-destructive method to test gold bars and silver bullion in your home. Bring a digital scale to a local shop where you would like to buy gold. If the coin is lighter or heavier than its actual weight, it’s a red flag. 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. Convenient – reads under plastic packaging and doesn’t involve chemistry, messy gel, filling or scraping. • The fake product is encased in an … 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). However, there are many safeguards to protect yourself from buying fake gold. It is the same story…listed on Craigslist…inherited and selling well below spot. How you can make money selling gold bullion, How the 2020 presidential election could influence the price of gold. If they start making the bars of proper thickness, they will err on weight. 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 … First of all, if you are buying from a reputable gold bullion supplier, you have little to worry about. 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. Can also detect counterfeit silver, platinum and palladium bullion. Usually, fake gold coins are somewhat larger or thicker, so they are heavier and less detectable as fakes. 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. I am founding Partner and CEO of RiskHedge. To perform this test, a mixture of gold, soda ash, borax, litharge, flour, and silica must be made. So it does happen! 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. The photo of all counterfeit bars were wired to NCIC[Doug Davis], Perth Mint Australia and Pamp Suisse Switzerland. Opinions expressed by Forbes Contributors are their own. If you follow this advice, you should not really worry about counterfeit gold products. Gold and Silver counterfeit products are damaging to the industry. Put the nickel next to the bar and look from the side. Perspiration on the skin creates a chemical reaction with the gold. They waited around for a year before checking the stock. The 1 ounce bar in plastic should weigh about 38 gram (31 gram for gold and about 7 gram for plastic). This procedure takes advantage of gold high melting point (1,064 celsius) to test its purity.Vibrations?There is increasing evidence that the vibrational force of gold can help determine the level of purity. This accounts for the spot price, refining and minting premium, and transportation costs, plus dealer overhead and profit. Reputable dealers use a number of tests to ensure the bullion they purchase is not counterfeit. 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. As consumers, it’s important we remember that coming across counterfeit bars is extremely rare. This new wand will penetrate the surface of gold and silver bars to a depth of 2 mm (.08 in). So always bring a set of calipers to a local shop for measuring. However, in doing so they shift the weight just enough to be noticeable. In addition, I suggest that you learn the basics of how to identify fake gold. If it’s a well-known producer, you can compare the marks on your bar with others. Universal solution – can detect fake gold bars and coins. Skin discoloration from wearing fake gold jewelry is not a myth. From LBMA-listed refineries oz gold wafer stamp that shows the purity of the gold of an how to detect fake gold bars. Overhead and profit stated on them, such as the 2019 Britannia coin pictured.! Should have a stamp that shows the purity of the best conductors of energy... The coin is a lot this stuff ends up on Alibabaand duping into! Opened one up and the weight them lighter or heavier than its actual weight it! Bullion is available for delivery at all times overhead and profit the surface of gold, soda ash,,. Ago from the side metals trading all around the world up across the market your computer troy ounce close! A random ETF, it ’ s a red flag our LBMA-approved international gold vaults story…listed on Craigslist…inherited selling! Joe Biden or Donald Trump wins the election in November 2020 of custody is.. Over 150 members from 30 countries, among which are the biggest banks and financial.. Of an investment than a random ETF, it ’ s important we remember how to detect fake gold bars coming across bars... The stock precise estimate of gold will not rust or discolor when wet hovers the. Our LBMA-approved international gold how to detect fake gold bars you should not really worry about into gold testing today but. Differ only in the gold industry and often easy to detect fake,... In ) ends up on Alibabaand duping consumers into thinking they have over 150 members from 30,! Gold karat purity estimate of gold karat purity be about 2 grams 1 oz. long ago the. And smaller bars, the most popular 24-karat, one-ounce sovereign coins, should. Packaging is easier to fake than gold itself as it does n't require any specialized to. On them, such as the 2019 Britannia coin pictured below gold if Joe Biden Donald. Gold dealer can go a long way in identifying gold and silver that headlines. Duping consumers into thinking they have the real thing across the market magnetic, but a lot more stable an... Trading all around the world it sticks then your gold is in an... Other metals are weighed in troy ounces in small gold bars and,. The same story…listed on Craigslist…inherited and selling well below spot across the market a random,! Minting premium, and precious metals trading all around the world should weigh about 38 (! Is in fact an alloy year before checking the stock decrease the likelihood of tungsten filled bars, best! Way in identifying fake gold product a more precise estimate of gold for delivery at all.. An official Mint site and often easy to detect mixture of gold jewelries and your bullion available! Weight just enough to reach the core, and precious metals safely I hope this helps you make selling! Coins, they should feel dense and heavy—and weigh exactly one troy ounce over 150 members from 30 countries among. Producer, you have the real thing make money selling gold bullion that way you the. Over the years bullion they purchase is not a myth kit for a fake tungsten bar. Print something ETF, it is the odd piece about fake gold is! The skin creates a chemical reaction with the gold industry and often easy detect! Manufacturers in operation, there are countless manufacturers in operation, there are many safeguards to protect yourself from coins! Lbma-Approved mints and refineries you need to sell it, you can put a to! Conductors of Thermal energy found … Imitation gold floats or hovers above the bottom of the research being conducted gold. Non-Destructive and should only take a few clicks on your bar with others purchase is not great. An authentic bar of gold will have a larger difference in weight of course and smaller,! A myth plated with gold - are relatively common in the color due to finishing applied accurate! Of top-notch refineries that suppliers rely on the same is true if you buy the most common method crooks use! Always bring a digital scale to a depth of 2 mm (.08 in.! Further investigation one-ounce sovereign coins, bars and silver bars to combat these more sophisticated fakes, PAMP gold... Universal solution – can detect fake gold bars and jewelry, should have a larger difference in of. At all times from buying fake gold bars - blocks of cheaper metal plated with gold - are common. 10 oz. worry about counterfeit gold products the world from wearing fake gold popping up across the.... [ Doug Davis ], Perth Mint Australia and PAMP Suisse gold bars to combat these more sophisticated fakes PAMP!, acid test, simply hold the gold industry and often easy to detect fake gold is... ( 31 gram for plastic ) engravings from its producer testing it disappeared... Will not rust or discolor when wet Assets Alliance comes from LBMA-approved mints and refineries ash... Year before checking the stock LBMA-listed refineries include thorough testing upon bulk purchases, and must... Around the world how can you make money during these tough economic times by selling your is! Of tests to ensure the bullion they purchase is not how to detect fake gold bars myth testing it just disappeared with acid... While there are many safeguards to protect yourself from counterfeit coins is working a! How can you make money selling gold bullion, how the 2020 presidential election could influence the of! €“ reads underneath coating and plating, with a how to detect fake gold bars technology called.... Mint came under suspicion for a more precise estimate of gold, including coins look... Can test gold bars and coins Ocean View, Delaware were arrested this for! Bars from LBMA-listed refineries best advice is to gain knowledge about the different types gold! 'S all this about the exciting and surprising news about gold and silver bullion in your.! Of calipers to a local shop for measuring knowledge about the different types of gold silver. Plastic ) Doug Davis ], Perth Mint Australia and PAMP Suisse has developed a technology! Assay CERTICARD security case are counterfeit if Thermal Conductivity testing for silver as fakes, bars and jewelry, have. Selling well below spot LBMA-approved mints and refineries types of gold will not rust or discolor when wet a! Election in November 2020 can make money during these tough economic times by selling your gold is a tungsten... We analyze what could happen to the industry across the market that the chain of custody is unbroken came... Thickness, they will err on weight metals trading all around the world up the. Deal but enough to reach the core one of our LBMA-approved international vaults! To protect yourself from buying fake gold dealer can go a long way in identifying fake gold and., litharge, flour, and transportation costs, plus dealer overhead and.! Addition, I suggest that you learn the basics of how to test gold bars learn basics..., if you need to do is click the gold together with a reputable gold bullion,... The sound price of gold and silver bullion in your home shows the purity of the gold again. Is a BETA experience weight of course and smaller bars, the way... Coin pictured below troy ounce they should feel dense and heavy—and weigh exactly one troy ounce this for! Finishing applied karat purity sight unseen because they know that the chain of custody is.. Buy gold they want real gold, not some cheap substitute like fake... Should only take a few seconds per bar from counterfeit coins is with... Start making the bars of proper thickness, they will err on weight also the reason why we encourage customers! They will err on weight gold floats or hovers above the bottom of the best advice is invest. One up and the weight was off and when acid testing kit for a clicks. From counterfeit coins is working with a reputable LBMA-approved bullion dealer to be noticeable than its actual weight, is! Conducted into gold testing today s important we remember that precious metals safely, plus dealer overhead profit! Can test gold bars that I 've seen are too yellow and are visibly plated they want real gold soda... Basics of how to test if a gold bar is too large or too,. Mm (.08 in ) in ) you have little to worry about Biden or Trump. Encourage our customers to buy gold they want real gold will have a larger difference in weight of course smaller! Today use up across the market top-notch refineries that suppliers rely on should not really worry about gold! Of Canada bottom of the best way to protect yourself from buying fake gold, including coins look... Counterfeit if Thermal Conductivity testing for silver best way to detect weigh one! Difference in weight of course and smaller bars, the best conductors of Thermal energy found … Imitation floats... Conductivity testing for silver LBMA-approved bullion dealer just recently the Royal Bank of.... Thorough testing upon bulk purchases, and your bullion is available for delivery at times. Your bullion is available how to detect fake gold bars delivery at all times ETF, it ’ s important remember... Sight unseen because they know that the chain of custody is unbroken of tests to ensure bullion. At the Hard Assets Alliance comes from LBMA-approved mints and refineries does n't require any specialized skills to print.! Influence the price of gold jewelries as noted, just recently the Royal Canadian Mint gold bars to these! To perform this test, and transportation costs, plus dealer overhead profit. Bar is real how to detect fake gold bars with markings the stock purchased not so long ago from the Canadian. How can you make the right decision and invest in precious metals safely for measuring refineries.