Gold Plated
Detecting Fake Coins In 7 Easy Steps
Anyone must have seen news of the collapsing financial system as thousands of Americans are losing their jobs each month. Seeing where the financial system is going, many are hurrying to invest in precious metals like bullion coins, bars and bullion. Due to the extreme demand of gold, there is a need to counter the demand and it consists of the massive production of counterfeit bullion coins by dishonest people.
Clearly, many guiltless people have been victimized by dishonest people selling counterfeit coins. If you are not careful, you may end up like one of them. In order to spot if the gold coins that are circulating in the marker are counterfeit or not, check the following ways below.
Confirm The Class Of Metal
Assessing the characteristic of metal is the easiest way to tell if the coin is not genuine. Fake coins can appear dull or too shimmery. In order to tell the difference, you need to know first the quality of metal used by the original coins. Aside from the dull and too shiny look, fake coins can look a little rough.
Make Use Of Magnet
To tell if the coins are authentic use the power of magnet to your advantage. Take note that magnets cannot magnetize genuine gold coins.
Use Sterling Silver Cleaning Solution
Dip the bullion coins in the solution. After a day if the coating changes in color, the coins are certainly counterfeit.
Be Accustomed With The Coins Size And Scale
For easier look up, make a list of the pure coins sizes and dimensions. Get your scale calibrated by grams. If a bullion coin measures a little bit on the lighter side or perhaps, more than it should be, better thinks twice. It is extremely defining to check all the measurements including the weight, diameter and thickness.
Be Familiar With The Individual Facts Of Each Coins
Every coin types are unique - different markings, dates and words. They can readily identify a counterfeit just by looking at these information. Know that these facts are consequential. A slight difference can mean that the coin is counterfeit. Also know where the image should be facing in real coins. Let’s say we are looking at a 1958 US Gold dollar. It features an Indian princess wearing a feathered cap. When you count the feathers, it should total to seven. One feather less means the coin is definitely a counterfeit.
Assess The Coins By Listening
Listen in carefully as the coin hits a hard surface. However, this type of assessment requires certified skills of an expert. Take note that bullion coins will make a distinct strike, while a coin mixed with other metals will basically generate a dreary clunk. In an ideal world, you should have a bullion coin so you can readily put side by side in between coins.
Compare Prices
You can readily tell if the gold coins are counterfeit if the merchant is not confident with what he is selling. If he is giving you a price that is very tenuous, do not hesitate to ask. You can also check online with other resellers and inquire if the price of the bullion coins is at standard.
In today's deteriorating financial system, investing in bullion coins is beyond doubt a clever choice. On the other hand, be sure to check the bullion coins if they are genuine. Better be a smart and careful consumer than a sobbing buyer. Good luck!
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