How To Spot A Fake Gold Coin

Con & Coin: How To Spot A Fake Gold Coin

If you are thinking about investing in gold or other metals, welcome to the ranks of a multitude of other metal-savvy investors, especially if you are looking into gold coin investments. Because gold holds its value over the long term, gold coins are a dependable hedge against inflation and declining dollar value. Plus, collecting gold coin is fun and interesting.

Yet, as with any sort of investment, there are some risks for coin collectors. With the recent demand for gold coin, some intrepid counterfeit pirates have made their own market by selling fake gold coins to the unwary buyer and collector. The safest way to protect yourself is by knowing the different ways of how to identify a fake gold coin.

If you are going to invest in this precious metal by collecting gold coins it’s a good idea to also invest in a coin catalog, a jeweler’s loupe or magnifying glass, and an unglazed piece of porcelain to help you test the authenticity of gold coins. All of these items can be purchased online or at a jewellery supply store and they are valuable tools to help you test the authenticity of coins.

Weights & Measures

A gold coin will be quite heavy and dense for its size so knowing the exact weights and measures of real gold coins is a must. The only other metals with a higher density is iridium, platinum, and tungsten which are far too expensive to use in counterfeiting, not to mention they are not malleable enough to make counterfeiting with them easy. A counterfeit coin will be much less lighter than one of authentic gold of the same size. Gold coins should weight one troy ounce.

Your coin catalog will tell you the exact measurements and weights of authentic gold coins so you aren’t fooled by counterfeiters that fashion coins much larger than what is standard to make up for their lack of weight.

Take a Close, Close Look

With your jeweler’s loupe or magnifying glass you can examine the tiny details of a coin. The most obvious marking would be the stamps for gold purity, the ones that read 10k, 14k, 18k, & 24k. Anything less than 10k is considered 'fake' gold. Still those marks can be counterfeited so further examination is required.

Fake coins may have a grainy texture, indicating they are cast and not pressed
Coins that are overly shiny or peculiarly dull may be a giveaway, too
Examine the rim of the coin to see if there are any seams where two cast half-pieces of metal may have been joined
Stamping typos on a fake coin may be one obvious give-way that it is counterfeit
Know the tiny details of a gold coin by comparing one you know to be authentic against one that is suspect

Scratch Testing

Keep in mind that scratching a gold coin may devalue it some. If you give this test a try, lightly rub the coin against unglazed porcelain tile. Gold will leave a yellow streak on it. Don’t be too confident though, a gold-plated counterfeit coin could pass a scratch test.

The Acid Test

Acid tests are probably the most reliable way to identify a fake gold coin. Gold will not dissolve under a nitric or sulfuric acid test. You can rub your coin on an unglazed porcelain plate and then dab some sulfuric acid on the mark. If the mark dissolves the coin was fake. Again, scratching and rubbing gold coins will devalue them somewhat.

The following suggestions aren’t dependable ways to spot fake gold coins but an interesting bit of trivia nonetheless: flipping a real cold coin off your thumb into the air will make it ring. Also, if you suspect a coin to be counterfeit you can give it an initial test with a magnet to determine if it’s gold or not. Gold doesn’t attract magnets. But it may be some other form of non-magnetic metal so further testing is required. Biting a gold coin will determine if it’s real gold. Although dense, gold is very soft. If you can leave very deep bite mark it’s probably real gold but this doesn’t reveal its purity. Only bite gold coins you intend to melt or scrap.

The best, most reliable, way to know you are purchasing authentic gold coins is to avoid private party transactions and purchase gold coins from a licensed, reputable bullion dealer. These sorts of dealers are also willing to help you determine the authenticity of coins you may already have. While you’re there you can also check out the most up to date market price of gold, too.