Fake Gold Coins

If you’re collecting gold coins or investing in them, there is a good chance that sooner or later you will be introduced to a dubious specimen that you would wonder about whether it’s a real thing or a counterfeit. It’s not easy at all to recognize fake gold coins and you may not spot them at first (and probably even at last either), but you should know at least a few things that may help you not to fall into a trap.

The oldest way to check if the coin is real was simply biting it – please note, I don’t recommend doing it, but rather just mention it. You must have seen it in movies about old times, treasure hunters, and pirates. It may seem odd but in fact, there is a very rational explanation for it. Gold is very soft metal, comparing to some base metals, such as copper or bronze for example, and biting a real gold coin would leave some teeth marks or at least leave a feeling that it’s biteable. Again, I would not advise testing fake gold coins this way for two reasons: if it’s a fake, you may break your teeth, and if it’s a real thing, you may ruin it by biting (and possibly break your teeth anyway).

Another way to check if the coin is a fake is to listen how it jangles. Fake gold coins sound dull and boring according to people who have very good ears. Again, this test may rather be not always reliable and you would have to spend years listening to real and fake gold coins to learn how to tell them apart.

Nevertheless, jokes aside, the most reliable way to check if your coin is real, is to ask a professional. Get you coin to your local coin dealer and most likely he or she will have enough experience and appropriate equipment to check if your treasure is genuine. There’re several devices developed for this purposes, but they may be quite expensive, hence not always accessible or affordable for general public fiddling with gold coins.

There’re a few things again that you can try even if you have no access to or desire to communicate with your local coin dealer:

Check for the coin details. If you don’t have a real coin to compare with, find a photo online and compare very little detail of the original with the one you’re checking. Look at the space between letters, look at the size and number of elements – it may sound stupid, but counterfeiters do miss such simple things for some reason and they even do grammar mistake, especially when then do it in foreign languages, so check spelling as well.

Find a coin forum (CoinForum for example), become a member, and ask there – there’re plenty of real experts and they will help you or at least will give you some pointers. You can usually attach a link to a web page or put a photo of the coin in question.

Check the coin weight and size. If you don’t have a coin catalogue, you can almost always find these details online. Fake gold coins are usually lighter and sometimes even smaller in diameter.

Check the coin rim (edge). Fake gold coins sometimes are made in halves and then soldered or glued together and sometimes you can see a very thin (or not very thin) seam on the rim of a fake coin.

Dare your seller to make an “acid test” – gold is a noble metal so it will not react or dissolve in nitric or sulphur acid. Hmm, this one is a bit too extreme as if your coin is not 99.9% fine gold, which is quite common for real gold coins, the test will still damage the coin, so this one is for your information only.

Be very careful whom you’re buying from. Buying online is fine, but see where your seller is, check his or her feedback, and check that this feedback is for selling gold coins, not for buying 5c post cards.

Another way to avoid dealing with fake gold coins is to buy only professionally graded or “slabbed” coins. Those are coins in plastic capsules (slabs) that have been graded and authenticated by such services as PCGS or NGC or some others. They usually cost a bit more than not slabbed ones, but they guarantee authentication and that’s worth it. Click here to see some of the slabbed gold coins, which are selling now.

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Gold History – Relationship Between Gold and Money

Up until the last century, coins were worth something in their own right thanks to their precious metal content whereas today they simply have a token value. While the use of precious metals in backing western currencies has long-since ceased, the qualities that made it so functional are still deeply ingrained in the human psyche. Despised for two decades by many in the investment community, gold is making a serious come back.

It is no coincidence that it has been a symbol of wealth for thousands of years and not just as a decorative item. The combination of durability, purity and portability has been an overriding factor for its monetary use, as has its physical qualities of malleability and ductility that allow for easy division. Its relevance in the modern financial world is more significant than ever, given its resistance to mass production. Unlike other commodities, it is not subject to the substitution effect when prices get too high.

There are many useful lessons from the history of the Roman Empire which used gold and silver coins as part of their currency. Following a build up of deficits by a series of lavish emperors, Nero used the excuse of the Great Fire of Rome to reduce the gold and silver content of coins, thereby creating a greater number of them, starting with the same amount of precious metal. By the time the empire folded, its percentage inclusion was close to nought. While it took the Romans several centuries to achieve the dubious honour of total devaluation, the fast-moving Americans are doing their best to beat them.

After Rome’s decline and departure from Britain, the country survived a prolonged period without an organised national currency although foreign coins were widely used. This was partly a reflection of the decentralised culture of the Saxon invaders which depended more on local trade and coinage rather than national. As England emerged from the Dark Ages she attracted the unwanted attention of marauding Vikings including one of their later descendants, William the Conqueror. Their imposing castles and cathedrals were soon thereafter to be found throughout England after the invasion of 1066. Just as unflinching Roman roads scarred their trail over the Celtic land and culture, so the Normans stamped their authority on the defeated Saxon foe with their constructions. One of the earliest examples is the Tower of London which is of course still standing today.

Next in the series Gold History coming soon.

Toby Birch at http://www.guernsey-gold.com brings impressive credentials to the Gold Industry. He is neither jeweller nor e-commerce guru jumping on the gold bandwagon; rather, Toby has 20 years experience as an international fund manager dealing successfully in precious metals, mining stocks and natural resources. He is a Fellow of the Chartered Institute for Securities and Investment and is police cleared to sell gold. Learn why gold must be an essential part of your investment portfolio visit: http://tinyurl.com/ycbtav7

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Buying Bullion With Confidence – The Golden Rules

Probably the best thing about this market system is that it’s actually very easy to buy bullion and build up your supply, so long as you can afford it. This, of course, is a great idea, but you do need to be mindful of a few possible pitfalls. Here are some easy to follow rules that can guide you.

Golden Rule #1: Buy Most Bullion From the US Mint

While it is true that all forms of bullion are great investment options, it’s suggested that you focus on American coins from the US mint. This is especially true when you begin, and for the first while you should avoid privately minted or foreign mint bullion, as well as any bullion bars. There are several very good reasons to follow this rule.

First, the government guarantees bullion coins minted by the US mint. This guarantee covers the purity, quality, and weight of all American bullion coins. This means it is easier to buy bullion coins with confidence, and are actually getting exactly what you paid for. A good place to start is by including American Eagles in your collection.

Another very good reason to buy American coin bullion is it is easier to obtain, and you have a choice of who to get it from. This means it is also easier to trade and sell, as it is a lot more popular than other bullion or even bars.

Golden Rule #2: Do Not Invest in Old Circulated Coins.

It doesn’t really matter if you are considering plain silver coins or those double eagles coins struck early in the 20th century. The fact is, these coins are highly sought after by collectors, thus the competition is higher and so is the price.

On the flip side, the modern bullion rounds do not have value to collectors (yet). This means that their cost and value is solely based on their metal content and is not increased by their age. In the end, you simply get more for your dollar this way.

Golden Rule #3: Avoid Internet Auction Sites

Unfortunately, every new buyer will probably go through a phase in which they are a bit too trusting and too eager to invest as little as they can. When you start out it may seem that sites like eBay have many good deals on bullion. While some of these “deals” may be legit, it takes a real pro to sniff them out from the rest of the junk.

Unscrupulous sellers are likely to word a deal to make a piece of dross sound amazing. Also, there may simply be sellers on these sites who don’t know any more than you do and have no idea what they are really selling you.

For example, your Humble Writer almost fell for one such deal early on. The title stated that a one ounce silver bar was 100 mils 999 silver. It even stated this on the bar. Of course, this was priced well below market value and this writer was very excited!

The only problem was that the “100 mils 999 silver” turned out to be electroplating, and a mil is actually a measurement in thickness, not purity. In the end, the stated price was actually much higher than the market value of this bullion… since the market value was close to zero.

99% of the gold listings are even worse than the silver. They are either being sold by newbies who don’t know any better, or by sellers who just want to take the money and run while they can. This is why we recommend to only buy from reputable dealers both online and off.

And you can buy bullion with confidence – as long as you avoid the pitfalls and traps most new gold investors make. You can find out how by subscribing to our free newsletter, the Gold Minute, and you’ll receive my practical, real-world guide to investing in gold.

Jeff Grant is the creator of AmericanBullion.org. He is definitely NOT a traditional “gold bug,” is the opposite of a “gloom and doomer.” Instead he is a realist who believes there are times when protecting yourself financially and changing your investment strategy are vital — times like now.

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How to Purchase Gold Bullion Coins Today

For many investors today, owning stores of solid gold bullion is one of the best ways to secure your finances for the future. In today’s unpredictable economy where the currency has dealt a very weak and vulnerable hand, many investors are looking to invest in gold coins in order to gain stability, strength, and market independence from their currency held assets. There are many reasons that investors find to acquire gold coins, and gold’s stable legacy is definitely one of them.

Many investors and collectors purchase gold bullion coins to gain a more stable financial hold on their futures. In today’s day and age, many factors affect the value of currency, and therefore, affect the spending power of your hard earned salaries. Nobody wants to lose the value of their life’s earnings, and for this reason, many have sought out the market independence and resilience that gold has held over the course of centuries. In fact, gold has even been said to have maintained a stable and constant value over the course of two hundred or more years. The demand for gold plays an ever-present and visible role in global finances, and for this reason, many investors purchase the yellow metal coins and see gold as a more permanent fixture of value than currency simply because gold will always be worth more than printed paper and base metal coins.

Gold is also viewed as an excellent method to diversify your assets. As the saying goes, it is never a good idea to place all your eggs in one basket, so it is also unwise to place all your investment power in one asset. Gold, unlike any other investment on the market today, provides the uniqueness and value that many investments today simply cannot retain, which is yet another reason why many purchase gold coins. Some purchase the yellow bullion coins because of gold’s reputation as an excellent hedge against inflation, as gold has been viewed as a crisis hedge for many years. Stable and in demand during times of natural, political, and economic crisis, gold coins have become a popular commodity, and gold bullion bars, as well.

For those investors who are keen to purchase coins, there are many sources from where to purchase gold coins. Yellow metal bullion coins are minted through various international mints and refineries that have assembled comprehensive and easy to use websites where many investors and collectors of gold coins are free to purchase gold bullion coins and a large assortment of other gold products and precious metal coins. Though many who purchase gold bullion coins see this as the most secure and stable method of investing in gold, there are many other ways to go about making a purchase of gold and an investment in solid, fine gold.

Access to solid, pure gold is of interest to many investors today who wish to diversify their portfolios or are considering the future of their finances. Gold’s ability to preserve wealth is one of the reasons many investors choose to purchase gold bullion coins. For those investors who opt not to purchase gold bullion coins through a mint, the other method is to purchase gold bullion coins through a third party gold bullion dealer. There are many gold bullion dealers around the world, and many of them are large and frequented companies. There are many ways to purchase gold bullion coins in a secure way, and finding a reputable gold bullion dealer is one of them.

In order to find a reputable gold bullion dealer, there are several measures you must follow when on the market. Learning as much about a couple of gold bullion dealers of interest is a good place to start for those looking to purchase gold. Finding out how long they have been in business and reading any review that you may happen across by past investors is a good way to start evaluating each bullion dealer before you purchase gold coins.

There are many large gold bullion dealing companies who are interested in caring for their reputation, and in turn, they often facilitate simple and reliable transactions for those on the market to purchase gold coins. For others, it is always a good idea to review their specific policies regarding payment, shipping, and of course, returns and money back guaranties. For those on the market to purchase gold, it is prudent to be wary of any dealer who is unwilling to offer a decent return policy or who does not have a money back guarantee.

Lastly, for those on the market attain gold coins, it is a good idea to make sure there are several methods of contact between yourself and the gold dealer. A phone number or email address is not enough, it is often a good idea to ask for a phone number, email address, and a mailing address in order to make sure lines of communication are wide open incase a situation arises. Of course, if you are deciding to buy gold coins between a couple of dealers, but cannot make the decision, it is prudent and advised to gather several quotes from these dealers on the price of their gold bullion coins, bars, and other precious metal products of interest. This way, the ability to purchase gold is not only simpler, but it also ensures the best price possible for the yellow metal product you wish to purchase when on the market to purchase gold bullion coins.

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