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Shop BEST SELLERS For Current Inventory Selections / Get Free Shipping On All Orders Over $500
Shop BEST SELLERS For Current Inventory Selections / Get Free Shipping On All Orders Over $500
Gold coins are a clever method of preserving your wealth, particularly around times of uncertainty. Among the most trusted gold coins in the U.S. are Gold American Eagle Coins. They are government-supported, created in actual gold and are exclusive in their quality. But as these coins become more popular the probability of counterfeit coins appearing in online sale or as part of a personal transaction increases.
This guide can help you learn how to avoid fake gold as a new gold buyer, or a savvy investment buyer who wants to be sure their coin is authentic. We will discuss some basic means of verifying whether your Coins are real or not, what one must watch, and how not to fall a prey to the scammers. You will also know why these coins are a concern when individuals mention Precious metal vs. inflation, which is proving to be a growing concern year by year.Â
They are gold coins produced by U.S. mint and they are introduced in 1986. They are 22-karat gold and are divided in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz. Collectors and investors love them due to their trusted quality and government sponsorship.
The two sides of each coin are decorated with the image of Lady Liberty and detailed eagle design on the other side of the coin. They also indicate the weight, value and the year the coin was issued.
People tend to use them in the process of long-term investments or retirement savings since they are highly recognized and trusted.Â
There are more fake coins being made today than ever before. Some look almost exactly like the real thing, especially if you’re not used to buying gold. Buying a fake coin not only wastes your money, it also takes away the safety and value gold is supposed to offer.
That’s why knowing how to spot a real coin is so important. It also ties into the bigger question of Precious metals vs. inflation. People buy gold to protect their money from losing value due to inflation. But that only works if the gold you’re buying is 100% real.Â
The best way to buy genuine coins is basically to buy it through an acceptable dealer. Firms such as the US Precious Metals have direct dealings with the U.S. Mint and follow strict codes. We offer evidence that your coins are authentic, and offer assistance in case you have any inquiry after buying.
It is best not to purchase coins online or using auction sites or online market places where you cannot vouch how you received the coins.
Fake coins often have minor mistakes. Take a good look at your coin, especially the fine details:
Use a magnifying glass if necessary. The real coins feature high-quality images that counterfeit coins often struggle to match.
Coins are endowed with certain weight and size. As an example, a 1 oz Gold American Eagle Coin ought to have a calculated weight of about 33.93 gms and have a diameter of 32.7 mm. To check use a small digital scale and ruler. A fake coin will either be too light, too heavy, or have the wrong size.
Gold produces a distinctive, ringing sound when gently tapped against another metal. This is called the “ping test.” Real gold coins will give off a long, clear tone. Fake coins often sound dull. You can also use mobile apps to compare the sound of your coin with a verified real one.
This is a fast trick. Pure gold is nonmagnetic. When your coin hangs or clings at all to a magnet, it is not real gold. Take care though because some of these fakes use non-magnetic metals to deceive this test, therefore do not solely rely on this check.
To be sure, you can send your coin to a respectable grading company, either PCGS or NGC. These are professional companies that assess the authenticity of coins and their grades according to the conditions. They seal the coin in a case and provide you with a certificate confirming its authenticity.
This can also make it easier to sell or trade your coin later.
At US Precious Metals, you can be sure that every coin is genuine. We only sell certified Gold Coins and other products that meet government standards. Our team assists in leading the process whether you are a first-time buyer or you have been an investor over a long period of time.
Education is also a major part of what we do, so you know why gold is important, and how to shape your financial future with confidence. Â
US Precious Metals is one of America’s most trusted coin companies. We specialize in gold coins, gold bars, silver coins, silver bars, platinum coins, and palladium coins.
