First-time gold investors need not worry a lot. Fake precious metals can now be detected through inexpensive methods. This is good news since sophisticated equipment such as sonogram apparatus and mass spectrometers are costly and impractical for ordinary persons. Here are low-budget techniques to find out if the gold coin or ingot you have is authentic or not.
Dimensions and Weight
Gold as well as silver are very solid metals. In other words, practically all imitations with the correct weight will be huge in diameter and width. These can also lack weight to achieve the right measurements. You can also use calipers (measuring devices for big objects) and jeweler’s scale. The FISCH tester is also an effective tester for gold coins because these are relatively small but heavy to pass through the opening and incline the fulcrum.
Sound Test
Strike a gold coin and you will hear a dingdong. The chime is different compared to a base metal. Coins manufactured from base metals sound muted with a shorter ring. Try installing the Coin Trust app if you own an iPhone. Test gold coins by spinning them quietly on any solid surface in front of the mobile gadget’s microphone. Android users can make use of the Bullion Test application. Select the coin from the drop down menu. Push the microphone key. Place the coin on your fingertip. Hit it with another coin or your fingernail. Immediate and accurate results are obtained.
There are also inexpensive acid testing kits. However, acid is dangerous so this approach is seldom used nowadays. As an additional tip, avoid big gold ingots (10 ounces) since these are easy to alter. The bar can be drilled and stuffed with tungsten before being plugged with gold on the surface. This scheme is not easy for gold that weighs one ounce and below. Likewise, stay away from offers which are too good to be real. Refrain from purchasing gold bars which are lower than their melt value. Finally, transact business only with a trusted supplier who can guarantee genuine and pure gold.