If you look for great deals when buying gold, you can quickly fall into the trap of scammers. Fraudsters often use materials such as brass, copper, or tungsten with only a superficial gold finish. Whether the bars are really made of pure gold or fake, can be found out with the help of various tests.
To determine if a gold bar is genuine, the price serves as the first clue. On the Internet, the daily price of gold can be easily found on the pages of precious metals dealers and banks. If someone is still asking for significantly less than the current value of gold, then he is most likely trying to deceive potential buyers. After all, online auction sellers charge extra.
Asking a lower price for real gold - especially if it is below the purchase price of a precious metals dealer or a bank - means financial loss and therefore does not make sense. In case of uncertainty, consumers should preferably buy goods online from reputable sources, rather than from unknown persons in online auctions.
The serial number can serve as an additional sign of a fake. During the production process, some bars are assigned their own identification. If several copies have the same number, the gold is most likely fake. Comparison of the coinage image with reference objects often helps to detect a fake.
The size and weight of the ingot also provide information about its material. The weight of gold is 19.3 grams per cubic centimeter. Fakes, on the other hand, are often too light. However, the density of gold is similar to that of tungsten: therefore, even the correct weight does not give one hundred percent confidence in the material.
All of these tests serve as a first assessment and do not guarantee the authenticity of the gold bars. Confidence is provided by precious metals dealers who conduct thorough due diligence with their experience and special tools. For example, they check the surface with so-called X-ray fluorescence analysis without damaging the product. Depending on the material, X-rays are reflected differently and the waves are evaluated by a computer.
Bars weighing less than 100 grams are tested by experts for electrical conductivity (gold: 44.7 MS/m). For specimens weighing 100 grams or more, the sound conduction velocity must be calculated by ultrasonic measurement. If a certain value does not match the value of gold (3250 m/s), then it is definitely a fake. So instead of falling for a fake deal, investors should turn to precious metal sellers to purchase real gold with absolute certainty.