Frequent buyers face a lot of trouble before buying gold or silver. And there are frequent questions on how to buy gold in Canada. Here are a few tips and tricks that should be kept in the mind before you buy gold Canada. There is a very bad news that fake metals that appear like gold also exist, like copper and nickel with a thin plating of gold. Much of the fake material is sold online in an auction. Make sure you purchase from a reputed website.
What are several tests that you can carry out before you buy gold in Canada?
- The magnetic slide test
This is an extremely easy test that can be done using a magnetic slide. And one can easily tell the difference between real and fake, without any complicated test. Silver being a diamagnetic substance will slide down the magnetic slope with resistance. Fake silver, on the other hand, will move too quickly. This is a very easy and fun way to spot out.
- The Magnetic Test
This is an almost sure shot test to check the purity of a material. Silver and gold being non-magnetic are not attracted when brought in the close proximity of magnets. And on the other hand, the substitutes of gold and silver like iron or steel will be easily detected and show that it is fake. A neodymium magnet is suggested to test as it is very strong. This is very easy to carry out a trick if you want to buy gold Canada.
- The Weight & Dimensions Test
The bullion coins from Canadian government mints have a maple leaf, that has a very fixed dimension, for this, you will be needing a good digital electronic scale. The weight of the leaf is around 31.103 grams the diameter is around, 37.97mm. This needs a very good caliper, minimize any chances of errors, just read out the exact. The weight of the coin should be around 31.1 to 31.8, if it results in 32+ grams you should be concerned. And this is specific to buy gold Canada.
Make sure you look out for a few words, that indicate that the product is fake.
- 100 mills, this states the thickness of a silver plate. This is just a fancy word that must be avoided while you buy gold, in Canada.
- Silver/ gold plated- this means there is any base metal, but just a silver or gold on the outside to fool the eyes. Look out for this word before you buy.
- First copy/ replica- if this word is mentioned anywhere in the description, you must avoid buying it at any costs.
- German silver – the pieces of jewelry are very famous, but this is just another word for nickel, that has 60% copper, 20% nickel, and 20% zinc.
If you are buying gold from an auction at eBay there are chances that you will be encountering a fake product. So, make sure you apply a little common sense before you buy gold Canada. The best way to avoid buying fake gold is to get them from a reputable coin dealer, as they won’t sell un-authentic products.