Everyone must have seen reports of the collapsing economy as thousands of Americans are losing their jobs each month. With the failing economy, many are rushing to invest in precious metals like gold coins, bars and bullion. Due to the high demand of gold, there is a need to answer the demand and it consists of the massive production of fake precious coins by deceitful individuals.
True enough, many have been victimize by people selling fake gold coins. If you are not careful enough, you can be one of them. In order to spot if the precious coins that are circulating in the marker are counterfeit or not, check the following tips below.
Check The Quality Of Metal
Assessing the quality of metal is the easiest way to tell if the coin is not genuine. Fake coins can either look dull or too shiny. In order to tell the difference, you need to know first the quality of metal used by the original coins. The fake coin may have a grainy texture and appearance.
Use Magnet To Tell If The Gold Coin Is Authentic
Magnet can help check if the coins are genuine or not. Take note that magnets cannot attract genuine gold.
Test The Coins With A Sterling Silver Cleaner Solution
In a sterling silver cleaner solution, immerse the gold coins. If you notice that the coating changes in color and the precious coins tarnish after a day, then the coins are definitely fake.
Check Even The Smallest Detail Of The Coins
For evaluation purposes, it is indispensable to make a list of the diameters of authentic coins. You may want to get a scale calibrated by grams. If a gold coin measures a little bit on the lighter side or perhaps, more than it should be, better thinks twice. It is truly important to check all the measurements including the weight, diameter and thickness.
Know The Facts About The Coins
Surely every gold collectors are familiar with the individual markings, images, dates and words in their coin collection. They can easily detect a fake just by looking at these data. Know that these facts are important. 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 fake.
Examine With Your Ears
You can detect if the coin is authentic by listening to the sound as it land to a hard surface. Conversely, this type of assessment needs specialized skills of an expert. Take note that gold coins will make a distinct strike, while a coin mixed with other metals will simply generate a dreary clunk. In an ideal world, you should have a gold coin so you can easily compare in between coins.
Check The Price Of The Coins
You can easily tell if the gold coins are bogus if the seller is not confident with what he is selling. If he is giving you a price that is very questionable, do not hesitate to ask. You can also check online with other resellers and see if the price of the gold coins is at par.
Investing in gold coins is definitely a good solution to the failing economy. On the other hand, be sure to check the gold coins if they are authentic. Better be a smart and careful consumer than a weeping buyer. Good luck!
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