In general, the risk of buying fake gold bars or coins is minimal as long as you stick to well-known sovereign coins like Eagles or Maple Leafs and buy from reputable LBMA-approved dealers. Usually, fake gold coins are somewhat larger or thicker, so they are heavier and less detectable as fakes. Author has 124 answers and 153.1K answer views If you are talking about a Credit Suisse gold bar it should have a serial number on it that you can look up, a small scratch on the back should show only gold. The fake gold bars listed by starpower18 [sitting in my addidas shoe box next to me] sold within 5 hours for $1,249. If you decide to take coins into your own custody (let’s say at home), dealers will have to inspect them before purchasing them. Dealers can bid for your coins or bars sight unseen because they know that the chain of custody is unbroken. If it’s a ping, you have the real thing. Technology is helping buyers avoid scams. However, some gold bars are plated with a thick layer of real gold, so just because the gold is not shaded, it still could be a fake. If you’d like to buy from a local dealer, despite the risks associated with taking possession of gold, make sure that you check the dealer’s reputation or get recommendations. © 2021 Forbes Media LLC. Test and detect the purity of gold and silver coins and bars with our advanced precious metal scanning machine to detect fake or counterfeit coins. As long as your bullion stays in the custody of LBMA-approved vendors and vaults, there is no question about the authenticity of your metals. To perform this test, a mixture of gold, soda ash, borax, litharge, flour, and silica must be made. They are as exact as can be. All gold bars are pressed in exact dimensions with a machine by the producer. However, some metals will fool the magnet-test.Fire AssayThe testing method of choice for professional analysts who want to know how to test if a gold bar is real is fire assay. This is just one example of the research being conducted into gold testing today. When one goes to buy gold they want real gold, not some cheap substitute like a fake tungsten gold bar. If it’s a well-known producer, you can compare the marks on your bar with others. If you follow this advice, you should not really worry about counterfeit gold products. If there is any abnormality you are … Fake gold bars - blocks of cheaper metal plated with gold - are relatively common in the gold industry and often easy to detect. Reputable dealers use a number of tests to ensure the bullion they purchase is not counterfeit. In addition, real gold will not rust or discolor when wet. Fake 1 oz Gold Bar US Nickel vs. As noted, just recently the Royal Canadian Mint came under suspicion for a fake 1 oz gold wafer. in green assay CERTICARD security case are counterfeit if Pay special attention to any slight inconsistencies across the entire bar that are at odds with the producer’s style.Weight is a Huge IndicatorA common counterfeit maneuver is to fill a gold bar with tungsten or some less valuable metal. If the coin is too large or too thick, it’s almost certain the coin is a fake gold product. in green assay CERTICARD security case are counterfeit if the serial number starts with the letter "A" ___see bar below ser# A266401___ ALL Perth Mint gold bars [2.5, 5, 10, 20, 1 oz.] LBMA is an international organization that sets standards for precious metals trading all around the world. If they start making the bars of proper thickness, they will err on weight. This concoction is melted down and poured into a mould (or crucible) and a small bit of the gold remains in a solid state to be analyzed. Highly accurate – reads underneath coating and plating, with a new 2mm depth measurement. Avoiding Fake PAMP Suisse Gold Bars To combat these more sophisticated fakes, PAMP Suisse has developed a new technology called VeriScan. You can measure the height and width of a gold bar with the use of a caliper, a professional tool that can be purchased online for $25 USD. Susan Headly recently published an article on the topic, shedding light on the fact that a lot of fake bullion comes from illegal Chinese operations. As consumers, it’s important we remember that coming across counterfeit bars is extremely rare. Check the MarkingsMuch like an original painting, an authentic bar of gold will have unique engravings from its producer. They waited around for a year before checking the stock. Not a great deal but enough to warrant further investigation. Buy at the lowest price guaranteed! 6. While there are countless manufacturers in operation, there are a select range of top-notch refineries that suppliers rely on. In order to make sure you are not getting duped by the market, it’s imperative that you confirm the authenticity of the gold bar you just purchased. Opinions expressed by Forbes Contributors are their own. Counterfeit products exist in almost all industries, and precious metals are no exception. The ultrasound method is non-destructive and should only take a few seconds per bar. So it does happen! Gold (.999 fine) is not magnetic. It is much safer than storing at home or in a bank vault, and your bullion is available for delivery at all times. Some coins and bars also have their weights stated on them, such as the 2019 Britannia coin pictured below. Expecting to see how many millions they accrued, it turns out the stock has gone from $5/share to bankruptcy.But most of us gold owners don't often ask how to test if a gold bar is real?File that under ‘Amateur Investment Mistakes’. Remember that precious metals are weighed in troy ounces. But while there might be a surprising story in the news once and awhile, instances of fakery are actually super rare in the precious metals industry. Larger bars will have a larger difference in weight of course and smaller bars, a lesser difference in weight. Avoiding Fake PAMP Suisse Gold Bars To combat these more sophisticated fakes, PAMP Suisse has developed a new technology called VERISCAN. Had a fake Perth Mint bill of sale. There is the odd piece about fake gold popping up across the market. Gold and Silver counterfeit products are damaging to the industry. It is the same story…listed on Craigslist…inherited and selling well below spot. 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