How do you know if the gold you're buying is real?

[whiterose]

These may very well be stupid questions, but since I have no knowledge of buying, owning or cashing in gold, please excuse my ignorance.

How do I know if a gold dealer is reputable?

How do I know if the gold I purchase is real? Even if it does come with papers verifying it's authenticity, how can I be sure it's even worth the paper it's printed on?

How do I know where to cash it in at?

I'm not looking to be spoon fed here, just trying to aquire some knowledge.

Thanks to anyone who can help.

[stronglilly]

Very good point... I heard of situations where the gold was an overlay on metal. How can we be sure?

I know you can do acid test for the surface but what about underneath?

How can you verify?

[cris]

Whiterose....i buy from a gold and silver exchange, here in Az.....silver coins, pre 65.....and gold krugerands...this is a place that i go to physically, and pay cash...im pretty comfortable with these folks, but i imagine you could call better business bureau, about whatever exchange you find where you live

whatever you do....dont buy gold from one of those tv commercials....that is fake

[dlbfilm]

I work at a gold and silver exchange. You can do a acid test on any piece of gold to check to see if it is real or not. On gold coins you are pretty safe. Even the US govt. faked gold bars to China go figure. Gold is heavy and if you scratch it it will not chip. Gold plate if you scratch it really hard you should be able to see another color underneath like silver or black. Gold plated it fake gold. Gold you can cut and it will still be gold inside period. You can also take your gold to a refiner and they have machines that can assay your gold and you cant fool them. Be careful, get several opinions from several gold dealers. There stories should match on Gold and Silver. Here are a couple of websites you can check prices and buy from. I have nothing to do with them except pass on information. I hope this helps. PM me if you have any specific questions.

www.kitco.com This website has up to the minute gold and silver prices it is the one we use here.

http://www.apmex.com/ This is a very fair place to get prices and gold from.

The best advice I can give you is dont even believe me. Do your own homework and ask plenty of questions. There are good dealers out there and bad ones. The more questions you ask the more places the better idea you will have on what is real. Just like on this site if you know what I mean. Best of luck... Danny

[whiterose]

I thank each of you for your input!! I'm still unsure, but at least I'm able to take steps in the right direction now. It's not as easy as "don't buy a rolex from the guy on the street corner".

Thanks again!!!

[dlbfilm]

Just ask about anything you are not sure of we will all help you....

[Mongo]

These may very well be stupid questions, but since I have no knowledge of buying, owning or cashing in gold, please excuse my ignorance.

How do I know if a gold dealer is reputable?

How do I know if the gold I purchase is real? Even if it does come with papers verifying it's authenticity, how can I be sure it's even worth the paper it's printed on?

How do I know where to cash it in at?

I'm not looking to be spoon fed here, just trying to aquire some knowledge.

Thanks to anyone who can help.

I have mine checked by the experts

[richardl]

I usually bite a coin like they do in the old John Wayne movies! It works most of the time. Gold is soft and you will see your teeth marks. Forgive me! I just couldn't resist.

[VIZIOIRAQI]

I thank each of you for your input!! I'm still unsure, but at least I'm able to take steps in the right direction now. It's not as easy as "don't buy a rolex from the guy on the street corner".

Thanks again!!!

I first would down load the gold troy ounce chart you can find it on google. google gold test kits and buy one. get a scale and make sure it weighs what is says for the size you bought. Make sure the stamp on it is authentic, some gold bars are wearth more because of the grade of gold and how they purify it.

That should get you started . I hope this helps you out! P.S. EBay has all this stuff also !!

[zantac]

old fashion way mate bite it just like you do the coin

[Deathmonkey]

I work at a gold and silver exchange. You can do a acid test on any piece of gold to check to see if it is real or not. On gold coins you are pretty safe. Even the US govt. faked gold bars to China go figure. Gold is heavy and if you scratch it it will not chip. Gold plate if you scratch it really hard you should be able to see another color underneath like silver or black. Gold plated it fake gold. Gold you can cut and it will still be gold inside period. You can also take your gold to a refiner and they have machines that can assay your gold and you cant fool them. Be careful, get several opinions from several gold dealers. There stories should match on Gold and Silver. Here are a couple of websites you can check prices and buy from. I have nothing to do with them except pass on information. I hope this helps. PM me if you have any specific questions.

www.kitco.com This website has up to the minute gold and silver prices it is the one we use here.

http://www.apmex.com/ This is a very fair place to get prices and gold from.

The best advice I can give you is dont even believe me. Do your own homework and ask plenty of questions. There are good dealers out there and bad ones. The more questions you ask the more places the better idea you will have on what is real. Just like on this site if you know what I mean. Best of luck... Danny

Good info, just don't put the acid ON the coins. Unless you would like to ruin any premium that certain bullion carries with it.

We have been in the bullion/coin business for over 40 years, and the best piece of information is shop around. You will do better with a local coin dealer then you would buying online.