Gold is one of the most stable and valuable assets since time immemorial. It remains a safe haven for investors who know its value. You are stating at a financial lifeline should things turn south. The last thing you want to imagine is that you will discover later that what you think is gold is actually fake. Remember that there are many gokd dealers and the number keeps growing. The vast number creates an opportunity for scammers as well. It means that you must tread carefully to avoid losing your precious metal which can be exchanged in a twinkle of an eye. The good news is that you can avoid getting ripped off by using a household item – lighter. Read on to learn more about the tricks you can use to confirm if indeed the gold is real.
To begin with, you new to know the basics of gold and what a real one one is. If you are not familiar with these aspects, you can easily get confused. Everywhere around the globe, fake gold is defined as any item with less that 10 karats (41.7% gold content). For a clear breakdown on how this translates to value, click here. Using a gold price per gram calculator, you will know how much you will get from your precious metal. Gold value depreciates rapidly when it reads below 41.7%. Note that there are common fake gold tricks that sellers will use to lie to you that this product is worth more that it is. They can use gold washing and claim that washed pieces are real gold.
Some dealers also capitalize in gold plating to scam their clients. It is one of the oldest tricks and it is surprising that many people are yet to know about it. Pyrite application is another trick you should be careful about. Pyrite is commonly referred to as “fool’s gold” around the world. If pyrite is exposed to the atmosphere, it leaves discoloration which confirms that indeed it is fake gold.
Testing gold is a global industry because there is too much money riding on whether what you claim to be gold is actually real. In fact, you don’t need sophisticated machines or chemistry labs because you can use what is easily accessible. Using a simple household item like a lighter, you can test to see what you are dealing with here. First, ensure that you choose your weapon carefully because not any other old lighter will do. You need a proper butane lighter filled with actual lighter fluid and it should produce a tall flame.
Ensure that you hang the gold somewhere on the wall because it can get hot and burn your hands. As you direct the flame on the metal, observe the changes in the color because real gold should turn lighter. The result should come out after about a minute of heating. For more information and insights into gold and silver industry, read more here.