How to determine real gold from fake gold
Gold is one of the most sought after metals in the world. Little girls dream of golden princes crowns and when they grow up, they love getting gold jewellery as gifts or buying gold coins as a hedge. However, fake gold is a big problem in the industry. Gold is versatile and it is used in an array of industry from jewellery to electronics, coins and bars. Because of its popularity and intrinsic value, some people produce fake gold and pass it on. There are fake gold producers and smugglers that cost the global gold market a significant amount of money. Most governments have branches within their law enforcement agencies that deal with people who make fake gold. For instance, Turkey has a financial crimes branch located in Istanbul. Just recently, they dismantled a fake gold producing network and arrested 61 people.
Apparently this network had 8 workshops located in different districts of the city. These counterfeiters were flooding the market with their fake and low grade gold and making lots of money.
The arrests came after 6 months if intensive investigations that resulted in the location of 103 suspects who were detained and questioned before the definitive arrest of the 61 people.
There is already a lot of fake gold around. It’s not only in Turkey but fake gold networks are everywhere in the world, even Australia. It is serious organised business. Some people
buy gold not knowing that it isn’t real gold. You might have gold you want to sell but not know if it is real or not. There a couple of tests you can conduct on your own to determine the realness of your gold.
The first thing you need to look at if you want to sell gold jewellery is the hallmark. A hallmark is a small inscription located on a discreet location on your jewellery. It could be 10K or 14k. The K stands for karat which is how the purity of gold is expressed. Pure gold is 24k but since it is too soft and not so durable gold is mixed with other metal alloys like copper or silver. 10karat gold is equivalent to 41.66% of real gold and the rest would be some other metal alloys. 14karat gold is equivalent to 58.33%. professional counterfeiters might put these hall marks on their own fake gold jewellery, so you might have to go a step further in verifying the purity of your gold.
The Vinegar Test
Get some white vinegar and put it in a glass. Put your gold in the vinegar and wait 15 minutes. Take the jewellery out, rinse it with clean water and wipe the water off. If you have real gold then it should shine, if it turns color then it isn’t real gold.
The Magnet Test
Unlike most metals, gold will not cling to a magnet because it is not magnetic. Sweep a magnet over your gold an see if it sticks. It shouldn’t.
The density Test
Gold does not float in water. It has a higher density than most metals. If your gold floats, then it isn’t real.
The allergy Test
Real gold is hypoallergenic, which mean it won’t turn your skin green. Fake gold usually contains nickel which most people are allergic to. If you have jewellery that has caused some sort of allergic reaction then you should know that it never was made of real gold.
When you sell gold jewellery to a gold dealer, they will conduct their own test on it to determine it’s purity. However, it will save you time and embarrassment if you tested your own gold before you try and sell it. When you know you are bringing the real thing, you are in a better position to negotiate the price.