Fool’s Gold or the Real Deal?: How to Tell if You’re Buying Real Gold

buying real gold

Buying gold can sometimes feel a bit scary.

After all, there are a lot of things which match that beautiful sheen we associate with gold and you can be out a lot of money if you aren’t 100% sure what you have is gold.

You’ll have to make sure before you make the buy.

If you’re wondering how to ensure that you’re buying real gold then we invite you to read on and see what can be done so you can be certain you’re not making a bad investment.

Check Jewelry for Markings

If you’re buying gold in the form of jewelry then you should look for markings.

American-made gold jewelry will be marked with a karat rating. On most pieces, it will be stamped on the clasp, while rings will be stamped on their interior.

Not having a stamp doesn’t always prove that the metal isn’t gold but it’s a good indicator for the layman and can be done on the spot if you’re buying from someone not involved in the precious metal trade.

Acid Testing

Nitric acid doesn’t react with pure gold, so if the sample you have is supposed to be 24K then you can easily test with nitric acid.

It’s one of the quickest ways to assess the purity of a sample, but nitric acid can be hard to get and is a relatively dangerous chemical. Most people will take their samples to a jeweler or other professional in order to find out.

If you’re planning on doing this one at home then be aware that lower concentrations of gold, such as 14K, will still react with nitric acid.

You’ll also want to make sure that you have the proper safety equipment to do the test since the solution is remarkably corrosive on human skin.

Streak Testing

One of the simplest at home tests is streak testing.

Using a white porcelain plate, scrape your piece of gold across the surface.

Bear in mind this process can sometimes scratch the piece you’re testing.

If there’s a black streak then you’re not looking at real gold, which will leave a yellowish streak across the testing plate.

Professional Assays

Many jewelers and appraisers will be able to tell you if your gold is real. It may cost a little bit of money but it’s the best way to be absolutely sure you’ve got real gold on your hands.

Make sure to use someone trustworthy when you’re getting your gold looked at since there is a lot of money in defrauding customers in the gold business.

As long as you can find the right person to take a look, however, it’s probably something that should be done before you start stacking the gold in your safe.

Buying Real Gold From a Reputable Source

Perhaps the easiest way to make sure that you’re buying real gold is to go directly through a refinery. Whether it’s an investment or for jewelry purposes, gold is available from refineries like ABC Refinery ATO in various quantities.

This is probably the safest route to go if you want to make sure you end up real gold for investments or making your own pure gold items.

Knowledge is Golden

Buying real gold can be a harrowing affair, but if you’re in the market then there are quite a few ways to make sure you end up with the right end product instead of getting ripped off.

There are con artists out there, but a few tests or reputable sourcing can keep you ahead of the game.

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