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 Replies: 16 / Views: 22,068 |
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New Member
Canada
2 Posts |
Hi, everyone! I've been lurking here for a while, trying to learn as much as I can, and you all seem so nice! I have a question, and was wondering if you guys could help. I bought some gold bullion coins, the American Eagle ones, 1/10th ounce. They came in the other day, but now I'm not sure how to tell if these are real gold coins. They look real nice, and feel heavy (for their size - these coins are tiny!), but I don't know how to tell if they are authentic. I bought them through http://www.puregoldincome.com after a friend recommended them. I think they are real gold coins, but I'm just wondering if there's a simple, not destructive way to know for sure. Thanks for your help! |
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Pillar of the Community
Belgium
2078 Posts |
Welcome
With a gold coin you buy for the price of gold you are not really intrested to know who coined it and when but if it is gold or not
A cheap electronic weighing scale ( 15 euro )which will do 0.01 gram accuracy will tell you very nicely the weight
Then you have to measure the diameter with a sliding gauge or calipers or whatever to 0.1 millimeter
If the weight and diameter are right you are pretty sure it is gold
because only wolfram can get you that and that is totally irrealistic
In other words the only real danger I see is silver plated with gold
( Or gold drilled out and filled with lead for bigger bars )
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Forum Mom
 United States
5877 Posts |
Hi Templar and welcome to our CC family!  I just took a long look at the website that you purchased from, and although I tend to think that you have purchased authentic 1/10 oz gold coins, I have my doubts about the sales pitch on the website itself. Given the spot price of $58.95 on gold, I would not recommend paying more than $60 each for these coins. For the most part, these coins only have bullion value and very little collector premium. The older gold coins have a significant collector premium in addition to the spot value. The other thing to consider is that these coins are going for spot price in uncirculated condition. If the coins you are buying from this website are being shipped in a manner that causes them to rub together or if they have been mishandled, they will not be in this state and you could lose money. If I was going to invest in gold, I'd purchase old gold coins rather than the modern bullion. I feel that they hold their value better and will always carry a collector's premium which will be higher than the modern bullion. Please keep in mind that I'm not an investment advisor; this is just my opinion.  |
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New Member
 Canada
2 Posts |
Thanks!
I really like the idea of an electronic weighing and calipers to measure - never thought of that to check these gold coins. Great ideas!
Now, I need to find a place that has these things...
Susanlynn9, I appreciate your comments about gold coins vs. gold bullion. I got these just as a place to park some funds, given the US dollar is dropping so much these days. Maybe I *should* look at collectible gold coins, too.
Life is an adventure, isn't it?
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Bedrock of the Community
United States
14454 Posts |
I have a kit that tests silver,gold,platinum and so forth but you have to like rub the edge of the coin/bar or what ever form the metal is in on a test rock, then drop a drop of acid on the test rock where you rubbed the metal and the acid will change colors to let you know if its real and how many carats it is (if its gold). You can find these test kits on ebay pretty cheap if you are interested in them. Not sure its what others would suggest but it is what I use anyway Edited by Bryan1315
04/04/2006 4:13 pm
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Bedrock of the Community
United States
12437 Posts |
quote:
Originally posted by Susanlynn9
Hi Templar and welcome to our CC family!
I just took a long look at the website that you purchased from, and although I tend to think that you have purchased authentic 1/10 oz gold coins, I have my doubts about the sales pitch on the website itself.
Given the spot price of $58.95 on gold, I would not recommend paying more than $60 each for these coins. For the most part, these coins only have bullion value and very little collector premium. The older gold coins have a significant collector premium in addition to the spot value.
The other thing to consider is that these coins are going for spot price in uncirculated condition. If the coins you are buying from this website are being shipped in a manner that causes them to rub together or if they have been mishandled, they will not be in this state and you could lose money.
If I was going to invest in gold, I'd purchase old gold coins rather than the modern bullion. I feel that they hold their value better and will always carry a collector's premium which will be higher than the modern bullion.
Please keep in mind that I'm not an investment advisor; this is just my opinion.
Susan, just an FYI, 1/10 oz gold eagles had a closing price of almost $66 spot on Monday. The spot on eagles carries a premium over plain bullion with the 1/10oz having the highest premium. Retail-wise, 1/10 oz eagles have a price of about $68-70 right now. 1 oz. $614.46 1/2 oz. $317.52 1/4 oz. $160.23 1/10 oz. $65.86 4/3/06 closing prices As far as authenticity goes, most dealers of bullion and scrap gold have a device that measures the conductivity of the metal by applying an electric current to it. I believe the purer the gold, the higher the conductivity. This is a nondestructive method. Edited by biokemist6
04/04/2006 5:03 pm
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by Bryan1315
I have a kit that tests silver,gold,platinum and so forth but you have to like rub the edge of the coin/bar or what ever form the metal is in on a test rock, then drop a drop of acid on the test rock where you rubbed the metal and the acid will change colors to let you know if its real and how many carats it is (if its gold). You can find these test kits on ebay pretty cheap if you are interested in them. Not sure its what others would suggest but it is what I use anyway
There are two problems First you damage the coin Second you only know what the outside ( plated ? ) composition is like These test were made for jewellers selling 18-14-12-10 carat gold on the assumtion the gold content of the surface is the same as the gold content of the core If you really have doubts you need to measure specific gravity by the method of weighing the coin and then weighing the coin submurged in water |
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Moderator
United States
23478 Posts |
I have some great calipers but can any of you recommend a good scale and supplier of same?
rggoodie
aka Richard
"catch em doing something right"
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by rggoodie
I have some great calipers but can any of you recommend a good scale and supplier of same?
Most affordable scales are made in china and then labelled by the "local" vendor I think You need an accuracy of 0.01 gram ( cheapest is 50 grams as maximum range ) It is also essential to have a calibrating weight of the max range of your scale in this case 50 grams because the postal treatment makes that your new scale is wrong upon arrival I bought the Tomopol 50 grams with calibration weight After a year of use it was only wrong upon arrival I post the pic since it probably is sold under another name in other parts of the world ( the price for the weight is 1.50 euro ) The vendor I post only ships to europe but if it slips in under the price at which customs get difficult he might ship outside europe Good Luck http://cgi.ebay.de/50g-0-01g-EXAKTE...mZ8402374911http://search.ebay.de/tomopol |
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Moderator
United States
23478 Posts |
Has anyone tried this device It is supose to tell you if a gold coin is real or not i have emailed them about one for Australian coins but no answer yet Check out their site How to tell if a Gold coin is REALrggoodie
aka Richard
"catch em doing something right"
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Moderator
United States
23478 Posts |
I have just received a reply from the seller of this item in reference to Australian Gold Question- "Do you have a fisch for AUSTRALIAN coins?" Response- "Hi Richard, Sorry, but we don't. All the coins, medallions and bars that can be checked by the Fisch can been seen on www.fisch.co.za Regards, Ken Rutherford" rggoodie
aka Richard
"catch em doing something right"
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Valued Member
United States
397 Posts |
Ain't ya seen the movies there partner....Ya take it tween your thumb and index finger, and stick it in your mouth and BITE on it.... MM  |
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by morganman
Ain't ya seen the movies there partner....Ya take it tween your thumb and index finger, and stick it in your mouth and BITE on it....
MM
I got a 210 year old french gold coin somebody bit Consequently it got a queer one quarter bent in it I guess those guys either had no teeth or strong ones |
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by rggoodie
Has anyone tried this device
It is supose to tell you if a gold coin is real or not
i have emailed them about one for Australian coins but no answer yet
Check out their site
How to tell if a Gold coin is REAL
It does not tell you whether a fake coin is real or not It only tells you the size and weight match the real coin So if you melt down a 1904 double eagle and strike a perfect key date with that mixture the thingy will tell you density and measurements are allright Most fake sovereigns have the corect dimensions and correct weight of gold They are slightly offcolor or slighly different fields or slightly different devices etc |
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Forum Kid
Kuwait
1523 Posts |
You could Bite it, if you break your tetth, its real!
while if it tastes like aluminium, you lost alot of money!
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Rest in Peace
United States
2684 Posts |
I use a relatively inexpensive mechanical powder scale used for reloading cartridges which has units in grains (down to 1/10th of a grain) to be more precise in weighing coins. (437.5 grains = 28.3495 grams = one ounce.) Since reloaders need to measure very minute and very accurate powder loads, reloading scales (especially balance beam types) are both accurate and capable of being calibrated and are perfect for coins (I also reload cartridges, so get double duty off my scales). As an example of such scale's precision, a Mint State Morgan silver dollar is supposed to weigh 412.5 grains; I weighed a well-circulated 1879CC G-06 Morgan at 398.2 grains which demonstrates the amount of metal lost in circulation and a counterfeit Morgan in AU condition I have weighs 380.0 grains which shows it is made of cheap metals. Such scales are available or can be ordered at any gun shop and I noticed a large selection on ebay, both mechanical and more expensive digital scales for a lot less than one would cost from a gun shop: eBay Powder Scales . Make sure the scale of the scale is adequate enough for the heaviest coin you might encounter (about 510 grains). |
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Replies: 16 / Views: 22,068 |
Posted 04/04/2006 2:06 pm
