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How to Protect Yourself From Buying Fake Gold

Table of Contents

Using the density of gold as a benchmark, producers produce gold coins to fit extremely uniform specifications. You might see they have somewhat different measurements if you take a couple of pennies and stack them in your palm. Theres a lot less variety when it concerns gold.

We left a couple of strategies off the table, for brevitys sake. Youll should use these too, if your mind is set on running your gold through the entire gauntlet.

On the other hand, if you end up with a whitish color on the gold, it implies youve got sterling silver beneath the gold. If nothing occurs with the nitric acid at all, youve most likely got genuine gold.

The Acid Test.

Some very high quality gold is mixed with other metals to harden it versus wear. If you do have gold that fails the magnet test, its time to bring it into a dealership (see below for advice on selecting a respectable one) for more testing.

Some folks have even made products that can serve as verifiers for particular makes of gold coin. Theyre essentially little piggy banks that change the size of the coin slot to enable a coin of a given year to slide through.

Because gold is even denser than lead. Silvers lovely thick too, but gold is one of the densest base metals anywhere in the universe. Thats why experts enjoy the weight test.

Rust test – real gold doesnt rust.
Skin test – a great deal of the metals used in phony jewelry will turn your skin greenish-brown with handling. Genuine gold doesnt have any result on your skin whatsoever.
Float test – Fake gold drifts (some of it, anyhow). Genuine gold, and only the finest fakes, will sink.
Sound test – If youve got a keen ear, give this one a shot: balance a coin on your finger and strike it with another coin. Real gold will produce a various sound than other metals (Youtube is filled to the brim with guides for “hearing” the distinctions in metals).

You can basically think about this test as a forensic one. Start by scratching a piece of gold or isolating a little sliver of it. By applying a percentage of liquid nitric acid (also commonly available) to the scratch, you need to motivate a chemical response.

Since any person can do it, the weight test is popular. The measurements and densities involved arent challenging to remember, and even the best counterfeiters cant get dimension and density proper simultaneously. Tungsten, a very heavy metal, is a contemporary choice that comes dangerously close, however not close enough.


Unlike its name suggests, this test will not require you to run off into the woods with friends to have fun with glowsticks. Simply put, this is an extremely, very precise methods to determine whether or not a piece of gold is genuine. Youll be testing your gold on a chemical level, which will leave you with some wonderfully accurate results.

For manufacturers of fake metal, the big dollars lie in other places; the genuine cash is in creating superior fools gold that, like its name, can fool almost anyone. If you can find fools gold from across the space on a Halloween outfit or in a music video, thats good– hold onto that impulse.

In a recent piece, we went over the presence of fake gold in the international market. In short, that piece evaluated the international need for phony gold (for uses both genuine and otherwise), and the desire of some significant players to supply it.

We likewise noted that learning about phony gold is just half the fight. In order to be a savvy, genuine purchaser, youll require to bring yourself up to speed on the approaches used by likewise savvy, clever counterfeiters. The strategies theyre using to trick you, and even your gold dealership, are ever-evolving.

Faking the chemical structure of gold is nigh difficult for counterfeiters. The only bad thing about this test is that you will need to ruin … yes, destroy … a very smidgen of your gold to attain results.

As a buyer, there are a few methods you can grab onto that lifeline. To name a few:.

Honorable Mentions.

Its insufficient to be able to spot costume jewelry.

Youre dealing with a fake if the acid/gold turns greenish. The majority of “scrap” metals will react this method to nitric acid.

Keep in mind– gold behaves considerably various than other metals on a number of fronts. Thanks to its unique residential or commercial properties, gold is near-impossible to counterfeit completely.

The Weight Test.

Being rather useful, smart individuals themselves, they aim to make their product as close to the genuine thing as it gets. In other words, its scarcely possible to take gold and successfully evaluate its credibility by look alone.

Due to the fact that of this, any fake coins that weigh the very same as true gold will inevitably be too large in size and size. You require more metal in the coin to make it weigh as much as gold. On the flip side, any fake coins with the appropriate dimensions are likely to weigh less than a genuine gold coin.

Gold, in its purest kind, is not magnetic. Not even a bit. Refrigerator magnets arent rather strong enough for this test, but if you head to your regional hardware store youll be able to choose an excellent one up. Run the magnet across your gold– if anything relocations, other metals exist.

Is that all?

Were not stating all the gold in America is genuine– that definitely isnt the case. New York City might simply have more phony gold for sale than real.

You need to definitely have actually the gold tested by several celebrations if you purchase gold from an unknown source. Now, if you purchased 100 coins, you should not need to have them all checked. Screening every 8th or 9th coin would be enough. What actually matters is that youre getting expert confirmation on any batch of gold you buy from outside the U.S., or better yet, anything you buy outside of your network of relied on dealerships. If youre being perfectly mindful, youll have that gold checked, too.

Utilizing the density of gold as a benchmark, producers produce gold coins to fit really consistent specs. On the other hand, if you end up with a whitish color on the gold, it suggests youve got sterling silver beneath the gold. If you do have gold that fails the magnet test, its time to bring it into a dealership (see listed below for guidance on picking a trustworthy one) for more testing.

Deal with a credible U.S.-based dealership who has period, organisation, and experience infrastructure.


Whichs simply the tip of the iceberg. Stay tuned for more.

Seek confirmation from multiple outlets.

Also, ask yourself if your dealership has a store, or their own large inventory. These are all great indications, as a dealer with his/her own biking stock of gold is most likely to have strong testing methods under their employ.


You can also secure yourself from a wicked case of buyers regret by following a couple of finest practices, which weve noted below. These have nothing to do with screening your gold when youve bought it, but following these suggestions will assist your possibilities while youre still out there buying it. Take an appearance:.





We recommend picking somebody who has actually been in company for years. Individuals state the piano is simple to get, however almost difficult to master. The gold market is the exact same method– just someone whos put in loads of effort, time, and effort into their company over the years is likely to understand the marketplace like a true pro.


Theres a catch. America, while rather an impressive star on the worldwide stage when it concerns confirming the integrity of its imports, is still the largest target in the world for counterfeiters. Americans love to spend, and theres more people spending money here than nearly anywhere else. That alone doesnt rather negate the import laws that protect us, however it does indicate theres a continuous struggle in between counterfeiters and world governments to keep gold stocks pure. Because battle, its best to err on the side of whichever government fractures down the hardest on knock-offs. That is and constantly has actually been America.

If you purchase gold from us, and have it checked down the street at another gold store, we will not be offended. If you order gold from an unknown source, you must absolutely have the gold tested by multiple parties.

If you buy gold from us, and have it checked down the street at another gold store, we will not be upset. We recommend all gold buyers be as cautious as they can be. Possibly even be a bit paranoid when you purchase gold; it may pay off in the long run.

The most rigid customer defense laws and safeguards anywhere in the world remain in America, so it behooves any prospective purchaser (you!) to deal within the country. Thanks to import and export standards alone, youll be handling a cleaner marketplace than if you were shopping an oversea dealerships stock.




Terms & Conditions

Trading in gold and other precious metals is risky because the market is volatile. Past performance is not indicative of future returns. This is why we encourage you to read Our Terms and Conditions carefully before making purchases, selling, or placing orders with BULLIONTRADING LLC. Refer to Safety Tips from the CFTC (Commodity Future Trading Commission). These terms and conditions apply to all orders, all purchases, and all sales made through our website, telephone, or other channels.

In the event you do not fully understand the terms of this agreement, BULLIONTRADING LLC strongly encourages you to consult with your own experts. BULLION TRADING enters into transactions with customers on the reliance and belief that clients are aware of, understand, and agree to these terms.

These terms and conditions are effective as of March 11, 2022, and are binding to all new and existing customers and users.


The prices for gold, silver, platinum and palladium coins and bars keep on fluctuating because of the risk factors that cause price volatility. The risk factors include political development, war, pandemics, demand, and supply. It is important to keep this in mind when transacting with BULLIONTRADING LLC.

The Ordering Process

BULLIONTRADING LLC. Does Not speculate on the prices of precious metals. This means that we don’t make profits by buying gold when the prices are low and selling when prices go up. BULLIONTRADING LLC generates revenue through premium spreads. This is the difference between what Bullion Trading LLC pays & sells these items for.

Orders and inquiries can be made through our website, phone, or other suitable channels. Contact Us for information.


Inquiries are made by customers who are not ready to transact immediately. Customers can contact us or go online at to get current market prices. The price quote and quantity available are subject to change. They can also contact us for guidance on buying and selling bullion coins and bars. You should note that the Price Quotations you receive when inquiring are Estimates because the prices of bullion coins and bars fluctuate daily, and the number of our stock changes all the time.

For example, The U.S Mint sets premium and minimum prices for American Eagles. Prices for American Eagles are determined by the current price of gold, silver, platinum, or palladium. The mint also charges a modest premium to cater to the cost of distribution and marketing. Consequently, the price of bullion coins and bars changes daily as the markets for gold, silver, platinum, and palladium fluctuates. Refer to the United States Mint’s Charges for Authorized Dealers.


Orders are made when customers are ready to transact immediately. The prices you get when ordering bullion coins and bars from us are an accurate reflection of the current market prices. Note that once you place an order, the prices are locked and are no longer subject to market conditions.

An order is placed when you finalized negotiations with our agents and an invoice is generated, not when the payment is made. Ordering and then bailing out or canceling after an invoice is generated makes BULLIONTRADING LLC incur losses. We incur losses because when you place an order, we consider the bullion coin or bar sold and will have hedged ourselves accordingly.

Disclaimer: To protect our company from losses, BULLIONTRADING LLC has implemented a Market Loss Policy.

Market Loss Policy Explained

An order starts when you finalize the deal with our agents, not when the payment is made. We generate an invoice immediately the deal is sealed either through our website or phone. We also count the bullion coin or bar as sold and will have hedged ourselves accordingly.

Customers who place orders, have invoices generated, and then cancel thereafter make us incur losses. To protect ourselves we have implemented a market loss policy. This means that you will incur penalties for ordering, having an invoice generated, and then bailing out. Once an order is placed, prices are locked and not subject to market conditions.

The moment you place an order an invoice is generated. If you cancel, and then gold prices decline you make us incur a loss. It is your responsibility to offset this loss if your order is canceled and your funds are returned. If this happens you will pay for the loss caused by a decline in the price of gold after a sale is made plus a cancellation fee of $35.00. This is our market loss policy.

To remain transparent and protect ourselves from risk we might require credit card information from every customer even if payment will be received through a different channel. We also will ask for immediate confirmation of the amount locked in. This gives us an avenue to compensate ourselves for losses in the event a customer places an order and then fails to pay.

However, if the price of bullion coins and bars stays the same, we usually don’t enforce our market loss policy because we don’t incur losses. If the price goes down we charge a market loss fee which is equal to the amount BULLIONTRADING LLC would have lost because of the unpaid order.


Bullion Trading LLC only accepts payments in the form of bank transfers, certified checks or personal checks. The method you use to pay us is determined by the number of bullion coins and bars you are willing to buy from us as follows:

  • Orders ranging from $1,000 to $5,500 should be paid via any option listed above and must be received within 2 business days from the time the order was made.
  • Orders ranging from $5,500.01 to $10,000 should be paid by bank wire, certified check, cashier’s check, money orders, or personal check, and must be received within 2 business days from the time the order was made.
  • Orders ranging from $10,000.01 to $25,000 should be paid by bank wire, certified check, and must be received within 2 business days from the time the order was placed.
  • Over $25,000.01 should be paid by bank wire and must be received within 1 business day from the time the order was placed.

If Using A Credit Card You Are Agreeing To The Following Terms:

  • I understand and agree that should I dispute the credit card charge through my credit card provider, I will have breached the contract as well as committed a credit card fraud.
  • I waive any charge-back rights. In the event of a dispute, and I request for a refund it must be made through the Bullion Trading LLC Arbitration Procedure described herein under Bullion Trading LLC.
  • Dispute resolution: I understand that all sales are final. There are NO EXCHANGES or REFUNDS.
  • I cannot receive a refund from Bullion Trading LLC, nor can I request the funds from my credit card company.
  • I also agree to waive any charge-back rights in the event of a dispute.


You agree that you have sufficient experience and knowledge to make informed decisions to purchase from and/or sell to BULLION TRADING LLC. You openly acknowledge that you are making all of your decisions in connection with purchases and/or sales. BULLION TRADING LLC is not making any decision on your behalf concerning purchases and sales.

You also openly acknowledge that you are subject to a variety of risks that are beyond the control of BULLION TRADING LLC. You openly acknowledge that BULLION TRADING LLC is not liable or responsible for the risks you incur while trading with us. Those risks include, without limitation, risks associated with the price volatility of bullion coins and bars. Market conditions or other disruptions such as technical problems may make it impossible for you to liquidate bullion coins and bars bought from us. You have the freedom to liquid the coins and bars at market prices acceptable to you.


All investments involve risk – bullion coins and bars are no exception. The value of bullion coins (e.g., American Eagles or Maple Leafs) is affected by many economic factors. The current market price of bullion coins and bars is determined by perceived scarcity and other factors. Some of these factors include quality, current demand, and general market sentiment.

The price of bullion coins and bars keeps on fluctuating and this means that they are not a suitable investment for everyone. Since all investments, including bullion coins and bars, can decline in value, you should make an informed decision. It is a good idea to have adequate cash reserves and disposable income before investing in bullion coins and bars.


You shall indemnify and absolve BULLION TRADING LLC and its affiliates, directors, officers, and shareholders collectively. You agree to compensate the indemnified parties for and against any costs, damages, expenses, liabilities, and obligations. They include without limitation to reasonable attorney fees that the Indemnified Parties may incur as a result of, or in connection with:

(a) Any breach of any representation or warranty made by you to BULLION TRADING LLC or,

(b) Failure to comply with these terms and conditions or the policies adopted by BULLION TRADING LLC.


You acknowledge that you are subject to the limitations of liability contained in these terms and conditions, the disclaimer, and other policies adopted by BULLION TRADING LLC.

If you suffer indirect, punitive, or speculative damages BULLION TRADING LLC is not liable to you. Any transaction between us and you pursuant to these terms and conditions, and any liability of BULLION TRADING LLC to you shall be limited to:

(a) The amount, if any, that you paid in such transaction or,

(b) $100 compensation. We are not, in any event, liable for any indirect, punitive, or speculative damages.


BULLION TRADING LLC has adopted a Privacy Policy that is included in these terms and conditions. Our privacy policy protects your identity and credit card information.

BULLION TRADING LLC privacy policies are found in the Disclaimer, Ordering Policy, and the protection of credit card information. These terms and conditions may be updated from time to time depending on the market forces and the legal landscape.


Upon any failure by you to comply with your obligations to BULLION TRADING LLC, the company shall pursue the rights and the remedies available to us. Either by law, through equity, or otherwise. It includes without limitation rights and remedies under these terms and conditions.

Breaching our rights may make BULLION TRADING LLC turn your account over to a collection agency, or a lawyer for collection. BULLION TRADING LLC will not fail in exercising any rights or pursuing any remedies in the case we suffer losses or damages.

Note: Failure by you to comply with these terms and conditions, may make BULLION TRADING LLC charge the credit card on which you have provided. This includes without limitation any and all market losses incurred by BULLION TRADING LLC, including cancellation fees, for ordering and then canceling at the last minute. You openly authorize BULLION TRADING LLC to charge your credit card for all losses caused by you violating our ordering policy.


BULLION TRADING LLC is an authorized dealer and a professional organization. We maintain a professional relationship with all our clients. We don’t enter into relationships such as agent-principal relationships, employee-employer relationships, franchisee-franchisor relationships, joint venture relationships, and partnership relationships with our clients.


You cannot forfeit these terms and conditions, your rights, or your obligations as they apply without the prior written consent from BULLION TRADING LLC. You may be granted permission to forfeit your rights or it may be withheld by BULLION TRADING LLC at its sole discretion. These terms and conditions shall be binding to all parties that trade with BULLION TRADING LLC.


If you violate these terms and conditions BULLION TRADING LLC will take action against you. It may include without limitation, turning your account over to a collection agency, or a lawyer for collection. You shall pay all of the costs and the expenses incurred by BULLION TRADING LLC, including without limitation to reasonable attorney’s fees.


BULLION TRADING LLC maintains professional relationships with clients. This is why we make sure that any grievances are resolved expeditiously. We agree that all disagreements and disputes with our clients should be resolved in accordance with the provisions below.

Because we value the relationship with our clients, we opt for arbitration or mediation as a channel for dispute resolution instead of going straight to state/federal courts. However, if arbitration or mediation fails, we may be forced to take legal action in state/federal courts in the State of New York.


These terms and conditions are governed by and interpreted in accordance with the laws of the State of New York. These terms and conditions do not take into consideration the possible violation of laws in other jurisdictions.




If BULLION TRADING LLC cannot perform any obligation hereunder as a result of any event that is beyond its control, the company shall be excused and shall not be liable for any damages as a result of, or in connection with, such delays, or such failures.


You shall sign and avail other documents, or take actions that assist BULLION TRADING LLC in enforcing the provisions of these terms and conditions.


Except as provided in these terms and conditions, all notices, and other communications to BULLION TRADING LLC shall be directed to it at 20 West 47th Street Lower Level #24, New York, NY 10036. All notices and other communications to you shall be sent by BULLION TRADING LLC, to the address that you provided to us at the time of your registration, or to the email address that you provided to us at the time of your registration.


BULLION TRADING LLC may record phone conversations between you and company agents or representatives. You consent to the recording of such phone conversations.


A decision or a failure by BULLION TRADING LLC to take action with respect to any non-compliance with these terms and conditions does not affect the ability of the company to enforce the terms and conditions with respect to other violations. Whether the violations are similar or dissimilar in nature.