GoldSilver.com, the company founded by Mike Maloney and run by James Anderson, published a very practical report on the growing threat of fake silver and counterfeit gold products. Mainly the simple but powerful ping test (which everyone can do at home, at ease) can protect you from being ripped off by sellers of phony bullion products. The ping test applies to both gold and silver coins.
Detect fake gold and silver coins
Although the following picture reveals some differences in the look of silver coins it seems recommended to do a ping test in the first place.
Based on the video that GoldSilver produced it seems that the ping test is a very easy and reliable way of testing the autenticity of bullion coins:
If you want to make use of tools to do the test then you can have assistance from the following online sound tool. The frequency you should have:
- Silver Eagle Coin Ping Test – 6145 Hz
- Gold Eagle Coin Ping Test – 4498 Hz
How are fake bullion products produced
The report from GoldSilver explains that basically two methods are utilized to produce fake gold and silver bullion:
- Plated gold and silver coins and bars, consisting of a thin layer of gold or silver covering base metal alloys underneath.
- Hallowed out gold and silver bars and coins with thicker covers of gold and or silver, filled with tungsten, lead, copper, and or nickel.
How to avoid fake bullion products
Obviously the most important thing to do in the first place is to chose a reliable bullion dealer. Additionally GoldSilver suggests the following:
- Make certain they have counterfeit proofing measurements in place to assure they never accidentally introduce fake bullion products into their inventories.
- Make certain your bullion dealer guarantees the authenticity of every product they sell.
From the article: “The vast majority of bullion products we sell are new, freshly struck products which move through a chain of integrity. Meaning the bullion is moving from mints and refiners, to us, then to our customers.”
Visit the online store from GoldSilver.com