Buy Gold and Silver Safely with Reputed Dealers
Do you want to buy gold and silver? Beware of counterfeiter silver and gold coins. Sometimes, fake coins are minted with the same intricate designs as genuine gold. Therefore, you should buy gold and silver bars and coins from a reputable yet registered dealer only.
In this post, we will give you some tips to identify fake gold and silver so that you buy genuine products only. You need to consider the following points when purchasing gold and silver coins.
Check Dealer’s Reputation
Before you buy gold or silver from any dealer, don’t forget to check with their reputation. If you’re not sure about the dealer, get recommendations of someone who shopped from that dealer before. It’s quite unlike that a reliable dealer would give you a counterfeit product.
At RPS Gold, we have been selling genuine gold and silver bars, coins and bullions for more than 50 years. We’re proudly located within the jewellery quarter of Southall, England. We have two more showrooms in the heart of Hatton Garden with names Abraham Diamonds and RPS Diamonds.
Check The Weight
Don’t hesitate to bring a digital scale to a local shop where you would like to buy gold and silver. If you’re buying 24-karat one-ounce sovereign coin, they should feel dense and heavy. Coins like full maple coin and full sovereign coin that are made of 22-karat gold weigh heavy. If the coin is lighter or heavier than its actual weight, it could be fake.
Diameter and Thickness
If you’re buying government-minted bullion coins; you must take a look at diameter thickness. Check out if the gold and silver you buy have standard dimensions. Before you buy coins, look up their dimensions on an official mint site. Generally, fake gold coins are somewhat larger or thicker. Therefore, they are less detectable as fake. It’s advisable to bring a set of callipers to a local dealer for measuring.
Reputable gold bullion dealers sell gold bullion at 1.5% to 10% over the gold spot price. If you find gold on sale at a lower price, either they have hidden fees to make up for losses or they are selling counterfeit gold.
The quality of gold and silver could be compromised if you notice gold coins or bars are:
Mottled or Grainy look
If you want to buy gold and silver safely with a professional dealer, visit RPS Gold. We’re into business for more than 50 years and we created this legacy with great hard work and honesty. We apply our custom designing to the most exclusive prices available. At RPS Gold, we can also create a unique and personalized setting for any gem.