Although sales over the Internet have increased in recent years, this has also meant an increase in online scams and deception. Gold has not been able to escape this situation since the high demand for this precious metal has also caused an increase in the number of websites that offer gold; however, some of these websites are dedicated to selling fake gold.
Gold IRA scams cover the online field and are present in the physical or face-to-face market since the sale of fake gold can take various forms. An example was in 2012 when it was possible to discover a fraud with gold bars, which were false 10-ounce bars at a lower price than the market. These fake bars came to deceive (at the time) several experts. The ingot inside had tungsten, a metal with weight and density similar to gold.
Currently, some institutions are dedicated to monitoring people and organizations that carry out scams in the sale of fake gold. At the same time, they are warning investors and buyers of possible fraud in commercializing physical gold.
Ask For The Opinion Of An Expert.
Although the authenticity of gold can be verified through quality seals and tests, when you are going to buy gold in large quantities, it is best to seek the opinion of an expert before carrying out the operation; usually, scammers tend to evade the questions from the expert or put up obstacles to carry out face-to-face reviews.
Use As Reference Companies Registered In The LBMA.
The gold seller, whether it is a person, company, or company, must market gold pieces that are accredited by the LBMA (London Bullion Market Association) since, in this way, it is guaranteed that the gold comes from legal activities and that it has been extracted from the responsible way. This entity is very relevant, especially in companies carrying metal castings. If the pieces of gold sold are not accredited, it could be a company that does not sell gold of good quality or dubious origin.
Be certified as Good Delivery.
This certificate means that the piece of gold complies with a set of rules issued by the LBMA, which describe the physical characteristics of the gold bars used in the wholesale market, and the specific characteristics of gold quality, in addition to guaranteeing that the gold has been obtained sustainably and responsibly.
Always Work With A Recognized Company.
It is advisable to buy gold from a store or company with some recognition and a good reputation in the gold trade. Generally, official stores comply with a series of regulations and permits, in addition to delivering invoices or proof of payment, which benefits the buyer in various aspects such as: demonstrating ownership of the gold piece, tax declaration, making trips with gold, guarantee against any eventuality or problem, etc. A point in favor is that the company has a physical establishment where the client can verify the product he will buy.
Avoid Pyramid Schemes
Many scammers tend to use gold to promote different pyramid schemes; in this case, the best way to spot a (gold-related) pyramid scheme is to see if the “opportunity” meets some of these criteria:
- Emphasis is placed on the commissions or income generated by inviting other people.
- No physical gold is traded (certificates, ETFs, or stocks are used)
- In the case of using physical gold, it is sold at overvalued prices.
- Emphasis is placed on “training” or “educational systems” on investing in gold rather than trading physical gold.
Beware Of Special Offers.
Suppose the client sees a price below the market (for example, a special offer). In that case, they should be very careful and suspicious since it is unlikely that a “serious” gold seller or dealer will make offers or special prices since, generally, Gold has internationally established prices. In this case, the only pieces of gold outside this parameter are antiques and collectibles since other factors besides the value of gold determine their value.
Check The Prices In The Market.
Before buying gold, comparing prices to determine how much a gram of gold trades is important. For this, it is important to consult trusted websites to obtain updated information on the price of gold.
Silver and gold are the most recognized and used precious metals in the world of jewelry. They are marketed in all forms and used to make, produce or embellish an infinite number of elements. They are also used for endless things: from investments to creating electronic elements.
One of the main uses for these elements is the creation of all kinds of jewelry. And, as good jewelers, we are sure that the most interesting thing is the differences between the two materials in the jewelry field.
For this reason, you have likely wondered at some point what the real difference between gold and silver is. Both elements have a variety of very similar characteristics, so it is normal for these types of doubts to arise. As jewelry supply experts, we will talk about the main characteristics and differences between these two precious metals in today’s article.
Many differences exist between these two precious materials. However, below, we mention some of the most differentiating characteristics between these two elements.
One of the main aspects that differentiate one from the other is its degree of purity and how it is measured. For example, surely you know that, in gold material, purity is measured by an international standard.
In this standard, the scale goes from 12 to 24 and is measured in carats, leaving the scale as follows:
- 12K, which represents a purity of 50%.
- 14K, with a purity of 58.5%.
- 18K equals a purity of 75%.
- 21K, 91.6%.
- 24K, the highest degree of purity, 100%.
On the other hand, in silver material, two denominations are used to measure its purity. These two ways of defining purity are:
- 925 or Sterling Silver, which equates to 92.5% purity.
- And 958, or Britannia Silver, refers to a purity of 95.8%.
As we can see, this is a differentiating degree of both elements. However, it is not the only difference. There are exclusive tools to work with each variant of these materials, as with 14K gold wire.
A very important characteristic for jewelers is how malleable the material they are working with is. In this, they also differ; the chemical element Ag is much more malleable than gold. In this way, it is not surprising that it is often preferred to work with silver material instead of gold, to carry out some complex designs.
As a counterpart, and due to its hardness, gold tends to maintain its finish much longer, offering the possibility of incorporating a greater number of details and definitions in the final piece.
This is precisely why so many gold jewels are usually created since the final result can be much sharper and clearer for the client, thus providing a plus of beauty.
We must discuss the differences between precious metals by discussing the price. There is little to highlight at this point; all jewelers, and the general public, are aware of the difference in price between one precious metal and another.
However, while silver metal is lower in cost, its price is much more volatile. This is mainly because it has infinite applications in the industrial sector.
On the contrary, gold usually offers less volatility because it is used worldwide to strengthen economies, make investments and evaluate the purchasing power of a nation.
Jewelry in silver tends to lose its shine over time, so it loses some of its appeals if it is not constantly maintained.
But the same is not the case with gold. This material maintains its brightness intensity much longer, being able to last up to several years without the need for maintenance.
Another differentiating aspect of both precious materials is that gold is much more durable. In addition, it is a compound that is extremely resistant to bumps, scratches, and scratches.
As if this were not enough, gold has a privileged composition that allows it to resist chemical alteration, whether produced by a heat source, humidity, or any other corrosive agent, such as oxide.
On the other hand, silver has inferior durability. Although it should be noted that its durability increases significantly if it is mixed with other metals, such as nickel or copper.
As we have analyzed throughout this article, there are many differences between the two materials. However, silver and gold are excellent precious metals to use as raw materials when making all kinds of jewelry.