How to spot fake gold and silver
Fake gold and silver exist, and some are very good copies. The best protection is buying from well-known sellers. These simple checks catch many fakes.
1. Weigh it and measure it
Every real coin and most bars have an exact, published weight and size. Use a digital scale that reads to 0.01 gram and a caliper (a measuring tool) to check weight, width and thickness. Compare with the mint's or refiner's published numbers. A fake that is the right size is often the wrong weight, and the other way around.
2. The magnet test
Gold and silver are not magnetic. If a strong magnet grabs it, it's fake. But passing doesn't prove it's real, because many fake metals (like copper, brass and tungsten) are not magnetic either.
3. The ping test (coins)
Gently balance a coin on your fingertip and tap it with another coin. Real silver gives a long, clear ring. Many fakes make a dull thud. Free phone apps can compare the sound.
4. The ice test (silver)
Silver moves heat very fast. An ice cube placed on a silver bar melts noticeably faster than on most other metals.
5. Look closely
Compare the design, letters and edges against photos from the mint. Watch for fuzzy details, wrong fonts, bubbles or seams, and colors that look off. Assay cards can be faked too, so check serial numbers with the refiner where they offer it.
6. Professional tests
Coin shops and jewelers can test with an electronic tester (such as a Sigma Metalytics device) or an XRF machine, which reads the metal without harming it. Acid tests work but can scratch the item.
Watch out for tungsten. Tungsten weighs almost exactly the same as gold, so it's used inside fake gold bars. Weight alone won't catch it. Electronic testers and XRF help.
Red flags
- A price well below spot. Nobody sells real gold for less than it's worth.
- A seller who rushes you or won't let you test.
- Large lots of "rare" coins from an unknown online seller.
Not financial advice. This guide is general information. For tax or investment decisions, talk to a qualified professional.