Financial

What You Should Know About This Year

How to Check If Gold Is Real With a Lighter

Gold is one of the most stable and valuable assets since time immemorial. Investors still rank it high because it is considered a safe haven. You are stating at a financial lifeline should things turn south. The last thing you want to imagine is that you will discover later that what you think is gold is actually fake. The number of gold dealers keeps rising by the day. The vast number creates an opportunity for scammers as well. You need to be careful lest you fall into their hands. The good news is that you can avoid getting ripped off by using a household item – lighter. Below is a comprehensive discussion on the things you need to know about gold and how to check if it is real using a lighter.

To begin with, you new to know the basics of gold and what a real one one is. If you are not familiar with these aspects, you can easily get confused. Everywhere around the globe, fake gold is defined as any item with less that 10 karats (41.7% gold content). For a clear breakdown on how this translates to value, click here. The Gold Price per Gram calculator will tell you how much the market will offer for your gold depending on the purity. The moment its content gets below 10 karats, it begins to depreciate. Sometimes the gold isn’t real but some dealers have tricks to lie about its content. They can use gold washing and claim that washed pieces are real gold.

Some dealers also capitalize in gold plating to scam their clients. It is one of the oldest tricks and it is surprising that many people are yet to know about it. It is also worth noting that some dealers use the trick of pyrite application. It is actually known as fool’s gold worldwide. Remember that cheap, fake gold leaves some discoloration when pyrite is exposed to the atmosphere.

Gold testing is an industry on its own because there is a lot of money involved in confirming the authenticity of the product. Gold testing at home is easy and quick because you need a lot of chemical knowledge or chemistry labs as you would here! Using a simple household item like a lighter, you can test to see what you are dealing with here. Before you embark on the process of testing gold at home, ensure that you have the right weapon – lighter. You need a proper butane lighter filled with actual lighter fluid and it should produce a tall flame.

You will need a nail to hang the gold on the wall. You can make a conclusion based on the color changes on the gold. It should heat the gold for at least 60 seconds. For more information and insights into gold and silver industry, read more here.