How to Test Gold & How to Know if Gold is Fake
There are many ways that gold can be tested for its authenticity. While the only way to be absolutely sure a product is genuine is to test with a professional precious metals verifier, but there are plenty of ways to tell if a gold product is definitely fake.
Precious Metals Verifiers
All precious metals verifiers/scanners work similarly. First, you calibrate the scanner to the appropriate setting and then scan the product. The scanner then gives you a reading which tells you if that particular product is genuine.
SD Bullion has three precious metals verifiers available for purchase. All three are from Sigma Metalytics. The Precious Metals Verifier PRO Set, the Precious Metal Verifier PRO External Bridge Set, and the Gold and Silver Purity Testing Scanner with Bullion Wands. Each one has its own benefits, so it is important to read the descriptions of each one before deciding which is best for you.
Note: None of the methods below can guarantee that your gold is genuine, but they can tell you if your gold is fake.
DIY Methods
Magnet Test
One of the easiest ways to find fake gold is to hold a magnet to your bullion. Real gold has no magnetic properties and should be unaffected by the magnet. Almost all metals used in fake gold products will be at least somewhat attracted to the magnet.
Float/Rust Test
Fake gold has a density that is less than that of water, so it floats on top of the surface. Gold has a heavier density than water, so it sinks to the bottom of a container of water. In addition to that, if your gold is real, you do not have to worry about it rusting. Real pure gold does not rust so there is nothing to worry about when submerging the bullion in water. Another way to test the authenticity of gold using water is to test the gold’s specific gravity.
Specific Gravity
Follow the instructions in the video below to test your gold’s specific gravity:
Acid Testing
For this test, you would need nitric acid and a tool to make a small scratch in the gold. It is understandable if you do not want to make a scratch in your gold bullion, so this test is really a last resort to test bullion products, especially collectibles. To conduct the test, you make a small scratch, deep enough to make it past any plating, and put a drop of nitric acid on the scratch. Fake gold will immediately turn green in reaction to the acid. Gold-over-sterling silver will make the acid milky in appearance. Gold will not react to nitric acid. The desired result is that the drop of liquid stays clear.
The Reason You Need to Test Your Gold
An exclusive report from Reuters back in August 2019 said there have been a couple of thousand fake gold bars from China have been found in circulation, but the likelihood is that there are “way, way, way more still in circulation.” Even the CEO of the Perth Mint has admitted that it is “very hard to control” the flow of fake gold bullion products into the market
The report also states that from 2017-2019, fake gold bars worth at least $50 million stamped with Swiss refinery logos have been identified by all four of Switzerland’s leading gold refiners and found in the vaults of JPMorgan Chase & Co. JPMorgan also found at least two gold kilo bars that had the same serial number, meaning the counterfeiters are not afraid to fake any gold product.
The reason for this recent increase in fake gold products making it past experts is that the counterfeiters of the gold have gotten better at faking the properties of gold using other, cheaper metals.
The Risk of Unknowingly Owning Fake Gold
Anyone who holds such metal - including jewelers, banks and electronics firms - risks inadvertently violating global rules designed to keep metal of criminal origin out of circulation. This risk accentuates the need to always purchase your gold from reputable sources and test the gold immediately if you suspect something may be off.
Purchase gold from SD Bullion that is tested before taken into inventory. SD Bullion also has gold products available at the lowest premiums over today’s gold spot price, feel free to place an order through the website or call into 1-800-294-8732 to place your order!
