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Sunday, March 11, 2012
Gold is fairly speaking very soft. Gold traders bite on the gold coins to determine if the coin is made of pure gold back in the old days. It is common to have coins made out of pure gold before the 20th century. Simply put, when you bite on a genuine gold coin, you will see markings of your teeth. If you cannot bite the gold, it means that the piece is not pure or there may be some elements added to gold to make it sturdier. So the next time you see a coin piece, do not just be deceived by its striking yellow color. Check if the piece is soft or hard to bite.
Check The Hallmark
Hallmarking stamped on the metal is one of the definite characteristics of gold to notify the owner the true karat weight of it. The price of gold is dependent on the number of karats of gold. However, the absence of hallmark on a gold piece doesn't mean that the gold is not authentic. There are just some gold coins who have markings to prove their authenticity and it is good for the first time buyers .
Examine The General Characteristics
If you are buying something especially a precious commodity, you will find yourself becoming detail oriented. The same with gold, you are very particular with all the details like the year it was minted, the image featured on the coin and the weight of the gold. Moreover, if you have a particular gold in mind, certainly, you are well acquainted with the general characteristics. So, if you see a Krugerrand, you will definitely have second thoughts if it is misspelled.
Validate The Legitimacy Of The Seller
One of the easiest ways to determine if the gold is authentic or not is simply by checking the legitimacy of the seller. You can ask him or her simple questions about the product he or she is selling. Research on the answers before buying it. Expect a lot of smiles and charisma, but don’t ever fall easily on it. You can actually research on the person or the company using the internet to find out his or her or the company’s background. Check out the former clients and their feedback and commentaries. In addition, check if they are member of an accredited group to ensure that they are following the bylaws of gold trade.
You can make a little scratch on the gold piece using a small file. Pick a concealable spot. Use a dropper when applying nitric acid. If no change is evident, it means that the gold is real. If the scratch changed to green color then perhaps the gold is plated.
When dealing with gold, it is important to be wise. Check your source and the gold piece. Do not be easily believe or deceive. There may be flight by night companies who will unluckily come your way. Check their legitimacy. Throw simple questions on them. If buying gold, consider the tips above and you will not be sorry. Gold is a valuable metal and it is only prudent that you get what your money is worth.
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