How can tell the difference between real and counterfeit gold and silver products?

The 11-year rise in gold and silver values has not gone unnoticed by the criminal underworld. Counterfeiters are now producing massive quantities of fake gold and silver products instead of the traditional shoes, handbags and DVDs that were popular before the recession. This has put American investors at risk of being defrauded out of their hard-earned savings, and experts estimate that tens of billions of dollars are wasted each year on counterfeit gold coins and bars. How does an organization like Gold Silver determine whether a piece of gold or silver is authentic?

There are various ways for individuals to test a questionable piece of gold, and not all of these methods are recommended. For example, one method utilizes nitric acid which can eat through flesh. Other people use the “Bite Test” but chomping down on a piece of metal is never a good idea. The “Ceramic Plate Test” works but leaves a scratch on real gold. This leaves the “Skey test”, which requires iodine and bromine, and is very popular among individual investors. However, it is logistically impossible for companies that come into contact with thousands of items per day to test each individual piece.

Gold Silver deals only in the most commonly traded gold and silver products; this makes it easy for our Authentication Department to notice any anomalies among items. We buy gold and silver bars in bulk from Credit-Suisse and Johnson-Matthey. This allows clients to receive better prices and our brokers can rest easy knowing that only hallmarked and serial number-imprinted bars enter our depositories.

Our bullion coins ship from each nation’s respective mint to our US depositories and are verified under video surveillance upon arrival, thus eliminating the possibility of fake gold coins reaching our clients. Many clients prefer PCGS-certified coins because each coin’s holder includes a barcode, serial number and tamper-proof seal. Individual PCGS-rated coins can be verified online, and each time we purchase gold coins from clients our Authentication Department checks and double-checks each piece by hand. This allows Gold Silver to guarantee the next buyer real precious metals instead of gold-plated tungsten or lead.

If you have questions regarding the authenticity of your own precious metals or are looking for a reputable supplier of gold and silver call our Help Desk toll-free at 1-800-394-3337. Our research materials are available free for the public via the link below.

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