Buying physical Gold and Silver is a great way to expand your investment portfolio and hedge against inflation.
For those who are new to investing in precious metals, verifying your Gold and Silver can be really daunting. How can you check if you’re buying the real thing? How can you be sure? What can you look for when you invest in Gold and Silver?
Starting off by doing your research and buying from a reputable source are two essential steps you must take when investing in precious metals. Gold isn’t cheap, and silver can get expensive, just the thought of investing sizable amounts of money only to find out your purchases are counterfeit is terrifying. However, there are several ways to ensure that your Gold and Silver are authentic.
Here are some ways for you to test Gold and Silver to avoid buying counterfeit bullion.
Check the Weight
One of the first things you should always do to figure out if your gold and silver are real is by weighing them. Nowadays counterfeiters have gotten creative and inscribe the weight and identical design of a real bullion coin or bar. Which is why ensuring that the weight listed on the item matches its real weight is a good and simple way to check whether or not the metal is genuine.
The Sound or “Ping” Test
Another simple and effective way to test your Gold and Silver is to listen to the sound it makes when struck against another piece of metal. Lightly tap the metal against your Gold or Silver in your hand and listen for a chiming or “ping” noise. If the noise lasts a few seconds, then that is a good sign that your precious metals are authentic. If the length of the noise is short and dull, they are most likely counterfeit.
Try Magnet Test
Another simple test you can use to check if your Precious Metals are fake is by doing the magnet test. Gold and Silver are not magnetic, so they won’t stick to a magnet if you bring one close to them. Counterfeiters sometimes use magnetic materials and plate them with Gold or Silver as part of their scam.
You can do this test with a magnet at home by simply placing the magnet on top of the Gold or Silver Bullion product. You’ll know if it is fake if the magnet sticks to the metal. On the other hand, if it slides off fairly easily, then you most likely have an authentic product. Keep in mind that counterfeiters sometimes use non-magnetic materials in their scams so you should always perform other tests too.
Acid Testing
Moving on, we got the acid test. The name may sound scary; however, it is nothing to worry about as it does not harm real bullion. The acid test is only harmful for counterfeit bullion!
For the test, you will need a small amount of nitric acid which you will need to apply to the surface of your Gold. You will know if the metal is fake if the colour turns to green. Real Gold does not react to acid. The acid test for Silver is similar to Gold’s, you will need to apply a small amount of acid and then look out for colour changes.
When doing these tests, it is especially important to follow safety precautions and read instructions of your gold and silver acid tests carefully. You must follow the instructions to get the most accurate results.
Gold on Skin Contact
Many people react to cheap jewellery poorly as it leaves their skin discoloured. That mainly occurs when the ‘Gold’ is counterfeit. But this yet another simple test you can use at home!
First you need to Gold your Gold in your bare hands and rub them together to break a sweat. Once your hands start to sweat, if the Gold is fake, your skin will get discoloured (usually green). If the Gold is genuine then you won’t notice any discolouration on your skin.
It is unfortunate that a large supply of counterfeit Bullion is being circulated around the world. Which is why it is important to always do your due diligence by doing the tests listed above and check to see if your bullion is real. Afterall it is an investment, and you want to be able to get a solid return on it.
Other than doing the tests, you can also ensure that your Gold and Silver is real by purchasing from reputable sources.
Au Bullion offers some of the most competitive rates in the industry! They are a highly trusted Gold and Silver retailer with years of experience in the industry. Au Bullion also always guarantees that the products they sell are insured. Check their website and keep up with their social media to get the best deals on your Gold and Silver products!