![]() ![]() Last, you need to be able to accurately determine a precious metal's value. ![]() I strongly recommend acquiring an XRF device at your earliest opportunity because it's bar none the most reliable method of testing. They involve spectrometers that can detect the authenticity of a metal in 10 seconds or less, but they run several thousand dollars and even well into the five-figure range for a decent piece of equipment. Last, portable XRF tests are the most expensive option, but they're highly reliable. If you want to take this route, there are plenty of electronic testing devices available on Amazon for $200 or less. Here's a great guide to DIY acid testing for absolute beginners who want a quick testing method using low-cost materials.Įlectronic testing is a better method for testing low-carat metals (14-carat or lower), but they can sometimes misinterpret a gold- or silver-plated metal for the genuine article. Take it a step further by hand-testing your gold, silver or platinum's chemical properties using an acid testing kit. These days, those can be faked pretty easily. It's not enough to check for hallmarks on your bullion or coinage. Pawnshop and auction metals absolutely must be tested via any of the following methods: When you're buying wholesale off the major distributors and market-makers, testing becomes less important because the suppliers themselves work with independent analysts to test the authenticity of their bullion. Stick to trusted, local-level suppliers where you have due recourse if you run into a bad actor. I recommend staying away from eBay, Craiglist and classified ads if you want to avoid scammers and frauds. Then, Google if your state hosts safety deposit box auctions to source low-cost, high-quality metal from unpaid bank accounts. See if you can work out a deal with your local midsized pawnshops to buy their scrap metals at 100% value. Check with your local auction houses to see if they sell jewelry or scrap jewelry. In the beginning, you have to start with the public retail showrooms, auction houses or pawnshops to source your gold and precious metals. ![]()
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