Gold Bars in ASSAY - Be Very Careful

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  • Опубликовано: 23 ноя 2024

Комментарии • 475

  • @wgwhit01
    @wgwhit01 2 года назад +130

    I see gold bars (Perth Mint, etc) all the time in local sales posts. Almost every time I reply with "I'm interested and would like to know if I can test with a precious metals verifier", which mostly stops the suspicious sellers immediately. From super chatty to radio silence. Definitely better to avoid when there is any doubt.

    • @SilverDragons47
      @SilverDragons47  2 года назад +12

      smart to test the stuff before you buy no doubt! 🔥🐉

    • @Kayl3ss
      @Kayl3ss 2 года назад +2

      @@SilverDragons47 Would you say online bullion dealers ex. BGASC, Bullion Max, SilverGoldBull are pretty much legit??🤔

    • @JoeGiz64
      @JoeGiz64 2 года назад +2

      @@Kayl3ss APMEX, JM…yes, legit.

    • @Kayl3ss
      @Kayl3ss 2 года назад +2

      @@JoeGiz64 Thanks bro. I don't buy from those guys though but I've heard my guys are pretty much just as legit

    • @um8440
      @um8440 2 года назад

      I bought a bunch of them on ebay, they all got good rating, if they sell fake bar then somebody would of gave them a negative, most of my gold are in the 100k feedback rating, that is when u know that they are real.

  • @glennboyd939
    @glennboyd939 2 года назад +25

    To test for a copper core, hold bar on an angle, and let your magnet roll down it. If the magnet goes slow, it's because of copper causing induction.

    • @gene9230
      @gene9230 10 месяцев назад +2

      what? gold is a similar good conductor as copper, will have the same effect

    • @ttkddry
      @ttkddry 6 месяцев назад

      ​@@gene9230it will slow down with a gold core but it will not slow down with a thungsten core, as far as I understand

    • @gene9230
      @gene9230 6 месяцев назад

      @@ttkddry he is talking about a copper core vs a gold core

  • @leonidas953
    @leonidas953 2 года назад +83

    What you have is a thick coated Tungsten bar . I bought one of these did same tests same results. Tried to bend it would not bend at all. Drilled on center and sure enough was Tungsten. Specific gravity of Tungsten and Gold within .01% very difficult to distinguish magnetically and or dimensionally. Have to bend bar. If it bends easily it’s gold. If it’s solid it’s Tungsten. I’m willing to bet it’s Tungsten.

    • @SilverDragons47
      @SilverDragons47  2 года назад +8

      you tested it on a sigma pro? I would love some photos and more information if you are willing to share please hit me up: silverdragons47@gmail.com

    • @abraham3981
      @abraham3981 2 года назад +6

      A ping sound test should help in determining if it's gold or plated tungsten. The real bar will have a nice gold gingle vs a fake tungsten it will have a thud or no sound at all.

    • @leonidas953
      @leonidas953 2 года назад +20

      Yes tested on Sigma Pro. Even had bar xRF tested. Got exact same results as you did. Bought off EBay. Seller allowed my LCS to do a bend test. You must do bend test 2 directions. Long end bend and diagonal bend. Only way to be sure is drill bar on center. We broke a drill bit trying to drill through after trying bend test. I was able to return for full refund.

    • @leonidas953
      @leonidas953 2 года назад +7

      @@abraham3981 thanks Abraham. We did not try ping test. That’s a good idea.

    • @abraham3981
      @abraham3981 2 года назад +3

      @@leonidas953 There are repositories out there that deal with thicker bars and they use sound to test for plating. Whether it is a ultrasonic thickness gauge or an ultrasound scanner it is the only sure proof way to determine if there are inserts inside other than drilling. With a thinner bar you can still use the concept of sound without any gauge or scanner.

  • @TheQuickSilver101
    @TheQuickSilver101 2 года назад +19

    It's because of how much of a pain in the butt gold bars in the assay are to test that I've avoided them. I'd rather pay more for something that's easier to test and more recognizable. Thanks!

  • @leandrewharton2867
    @leandrewharton2867 2 года назад +24

    I sold three ounces of gold during the height of the pandemic. I had a Canadian Gold Maple, An English coin and a Canadian .9999 bar in an assay card. They gave me spot on the two coins and barely looked at them. The bar they broke out of the case and did a number of tests on it and I got Spot - $100 on the bar. Just something to think about if your looking to buy gold.

    • @atrax7023
      @atrax7023 2 года назад +7

      When buying gold I've noticed the premiums are also higher on the coins then they are on the bars.

    • @richardsanchez5444
      @richardsanchez5444 Год назад +2

      @@atrax7023 premiums are almost always greater on coins than bars. At least sovereigns.

    • @lennybrewster4673
      @lennybrewster4673 Год назад +5

      That's why I buy bars and only from reputable dealers. Save a bit on premium. Gold is gold.

  • @tommyknocker4829
    @tommyknocker4829 2 года назад +57

    This video definitely answered several questions I've had regarding why 1 ounce gold bars have very, very low premiums. I was so tempted to buy a few welk-known bars, but now I know why I wouldn't. Thank-you for the thorough explanation. I'll stay with Eagles, Buffaloes and Maple Leafs.

    • @erics2506
      @erics2506 2 года назад +4

      Intuition hone it.

    • @justinholland9844
      @justinholland9844 2 года назад +9

      Yes, continue paying more for gold, especially in these times of outrageous premiums.

    • @davidlanham99
      @davidlanham99 2 года назад +1

      Same here. Imagine trying to sell that, or those silver rounds. No one will want them.

    • @crazycrayfish7610
      @crazycrayfish7610 2 года назад +5

      Anything and everything can be faked, even coins. You are better off getting a metal analyzer/verifier like he has if you are serious about accumulating precious metals. Yes, it will cost you $1,200 and up but if it saves you from one mistake then you are ahead.

    • @SilverDragons47
      @SilverDragons47  2 года назад +3

      yeah eagles maples and buffalos are the best IMO 🔥🐉

  • @shiruba2004
    @shiruba2004 2 года назад +2

    So nice and all, but...
    1. Specific gravity is effectively the same thing as density, which is what can be fooled by using something with a similar weight like tungston, so... little reason to be sure it is gold then.
    2. You can be sure it's real gold by buying it directly from the mint.
    3. Usually bars are sold where I live without any sort of packaging to begin with.

  • @jacobs4545
    @jacobs4545 2 года назад +18

    A real good tip on buying gold is if its like less than spot you probably shouldn't buy it

    • @SilverDragons47
      @SilverDragons47  2 года назад +3

      true that less then spot is usually fake! 🔥🐉

  • @elcheekoful
    @elcheekoful 2 года назад +6

    I'm new to collecting gold and silver. I've been sticking to APMEX. It's not the cheapest. But I buy from the website, I know it 100% legit.

  • @usptact
    @usptact 2 года назад +17

    Congrats on your tungsten bar purchase.

  • @moviezaftermidnight6348
    @moviezaftermidnight6348 2 года назад +6

    The assay cards just create another expense that never existed before.
    I like the idea of dissolving gold in aqua regia and precipitating it into a brown powder to keep in a jar. Less likely anybody would be interested in stealing it if they don't even know it is there.
    I can always melt it when selling it if they prefer. Little plastic plant decoration..

  • @arnoutbolman5070
    @arnoutbolman5070 2 года назад +2

    Great informative vid, thanks !
    I look very sharp to how the dealer reacts to my questions and listen very well how his answers sound instead of listening what he/she has to say primairily...
    Only one chance to do it right.
    If some seller looses patience or gets irritated, its a no go for sure !

  • @bigidiot123
    @bigidiot123 Год назад +4

    Does the value really go down though? JMBullion pays the same for generic 1 oz gold in any condition. Which is basically spot.
    I always cut mine out of the cards.

  • @alexdrockhound9497
    @alexdrockhound9497 2 года назад +4

    An XRF can absolutely penetrate into a material. I work in the mining industry. we use XRF extensively. We expect up to 10mm of penetration into a rock sample.

  • @veritasparadoxum6525
    @veritasparadoxum6525 4 месяца назад

    This is a great video! I have learned the hard way based on purchasing and selling experience that if you ever purchase gold bars/coins, stay away from assay carded gold bars and 22K/91.67% gold coins (not financial advice, but just a preference based on experience).
    Here in Canada, 22K/91.67% gold coins (e.g. American Eagle and South African Krugerrand) demand a selling price below spot just because it's 22K/91.67% gold, and gold bars that have been opened from their original assay card plastic packaging demands a selling price below spot as well.
    I have a personal preference of being able to physically hold gold, so assay carded gold (in my opinion) is just a marketing gig to justify selling premiums and ironically if you open them from their packaging, you stand to lose selling points if you decide to sell them to your local gold dealer/buyer.
    Simple is always better; just go ahead and buy widely recognized 24K/9999 fine gold coins (RCM Canadian Maple Leaf for example, preferably the DNA version for added security and peace of mind).

  • @knucklesatx
    @knucklesatx 2 года назад +6

    Great video, thank you for the information. If I were in your position, though, I think I'd go ahead and sell it myself rather than passing it onto my kids. Since you know all of the things to prove it is gold now, you have a better chance of getting a fair return on it. If you pass it down, what if they need/or want to sell it, but you're not able to share that info with them for whatever reason? They may end up getting undercut for it. Better that you sell it to ensure you're getting the most out of it. It's a beautiful bar, but I personally wouldn't trust my kids with it. But anyway that's just my take on it. Very informative, thanks again.

  • @ES-mc3cc
    @ES-mc3cc Год назад +1

    I recently purchased a one-ounce bar from an online precious metal dealer that prides itself on being very low priced. They had a sale on a brand of bars and I purchased one. The bar turned out to have a prominent defect on it. When I contacted the dealer, they acted like this was normal. Long story somewhat short, there was no resolution to this and I will never purchase anything from them again. But buying the defective bar led me to go to a local coin dealer (to ask what could have caused the peculiar defect) and he gave me an education on bars. For one thing, he said that the Chinese have made some kind of spray that they put on the bars they produce so that anyone who tries to test them can't tell that they are fake. No more bars for me, only coins. Thank goodness I only have a few bars (but they are from a more reliable and trustworthy dealer than the one I bought this bar from).

  • @LowcountryCashForGold
    @LowcountryCashForGold 2 года назад +18

    I bought 250k worth of gold and silver last year alone. And did so for the last 7 years at my business.
    Once removed from Assay card. They do NOT lose value.. I want them loose preferably so I can test dimensions and exact weight.

    • @minutemaniii7062
      @minutemaniii7062 10 месяцев назад +3

      Precisely , Gold is GOLD. He is an Amateur 😂😂😂😂

    • @minutemaniii7062
      @minutemaniii7062 10 месяцев назад

      NO ONE GVS A F ABOUT THE FKG ASSAY PLASTIC CARD

    • @BeanyBeans
      @BeanyBeans 10 месяцев назад

      Damn can you buy me some gold then lmao I can only get silver 😭😭

    • @KurtOnoIR
      @KurtOnoIR 8 месяцев назад

      They dont really lose value but if you look at what they tend to sell for most of the time it seems like they don't carry as much of the premium after the card is opened. Which is fine for me.

    • @twilightgarrison3671
      @twilightgarrison3671 6 месяцев назад

      Yea I think he just means it loses the premium value but yes Gold is Gold finger prints and all.

  • @daveadams8023
    @daveadams8023 2 года назад +5

    Last year I traded all my RMC bars for maples straight trade to a local coin shop. After seeing so many fake 1oz. Bars online I’ve moved away from them and only have gold coins.

  • @grumpy1311
    @grumpy1311 2 года назад +5

    That's one of the best things about coins. They have a known size and weight which can't be replicated by counterfeits.
    Same idea you were showing here with the bars.

    • @BrianHeimbuecher
      @BrianHeimbuecher 2 года назад +8

      Take a look at the somewhat-recent Cook Islands gold coin scandal. Don't fall for that urban legend about coins being immune to forgery.

    • @ClashixTV
      @ClashixTV Год назад

      They can now silver dragons covered it

  • @erics.786
    @erics.786 2 года назад +2

    I bought my Sigma Pro purely for this reason. Peace of mind is priceless..

  • @esquared5064
    @esquared5064 2 года назад +10

    I've been telling people for years to stay away from bars for this reason. Coins are so much easier to test due to being "raw" and having published specs. I even have a Sigma Verifier. Only exception is if you live in Asia where they have a strong bias to bars. And i always preach that you should not buy "what you like". But instead buy "what your future buyers will likely like".

    • @KaliAndy2
      @KaliAndy2 2 года назад +2

      Bars are fine if buy from a reputable company and especially if have receipts. I had never sold any bars before until last week. Sold a couple scottsdale bars at a coin shop and was surprised how easy and quick it was. They were happy to buy it and offered 99.6% of the spot price without haggling.

    • @TheLiamis
      @TheLiamis 2 года назад

      I prefer coins, especially britania. The 21 and on britania has good security.

  • @zacharieaviles9801
    @zacharieaviles9801 2 года назад +2

    Great video. Have a look at Sigmascopes Type B which would be the ultimate test to know whether bars in plastic are authentic. They go for abouk 8k USD and will tell you the conductivity of the metal-which ultimately determines whether it is gold, copper or tungsten.
    Also, the XRF tool used is great, yet test should run until data on the right side, the "differential" goes down and becomes stable. In the case presented in the video test was done for 1.5 seconds with a 2+ differential-there is a lot of room for change in data there. Reply if you want a free test.
    All the best.

  • @SineN0mine3
    @SineN0mine3 2 года назад +1

    Perth Mint bars are serialised, which is far from a perfect system to protect against fraud but it's something. If you buy it directly from them, you can use the serial numbers to get them authenticated when it comes time to sell.
    This has a limited appeal, but could potentially add value to the bar in a private sale. Unfortunately this isn't fool proof and if you're particularly careful about purchasing gold as most people are it probably doesn't make a difference.
    I would expect that it's worthwhile on some of the fractional bars since their small value makes having them tested uneconomical.
    There are also certain serial numbers which are commonly reported as fakes, so if you're able to see the number in photos it can be a quick way of dismissing a fake before you waste time contacting the seller.
    With larger bars, the ratio of reward to risk is much higher so counterfeiters are more likely to spend time going to extra lengths to make their fakes seem authentic, but with smaller sizes that becomes impractical.
    The main reason I like them is that you can handle the bars and look at them without worrying about damaging them. I don't expect them to be worth more than spot price to a dealer, but I like knowing they'll still look brand new a long time from now.
    I don't know about other bars, but I'm quite sure you can have the Perth mint bars tested accurately without removing them from the casing.

  • @roypateman470
    @roypateman470 2 года назад +2

    They don’t want you to open it because it’s fake.if it’s real gold by taking it out the packaging it won’t devalue it it’s all ways the price of the value of gold at that time.

  • @fuzzjunky
    @fuzzjunky 2 года назад +3

    I live in Perth. going to the mint is awesome.

  • @petejames1326
    @petejames1326 21 день назад +1

    i bought a 20g perth mint bar sealed from a reputable dealer and when i asked him to scan it using the XRF gun, he did but it showed it was 95.8% gold through the plastic packaging, he said this is normal, and it wont show 99.9% gold through the plastic, is this true?

  • @stevejahn83
    @stevejahn83 2 года назад +4

    No gold bars for me, at least yet. For that matter I only have a handful of silver bars and the majority of those are ten ouncers. Thanks for the video SD, keep stacking!

  • @Packaroo
    @Packaroo Год назад +3

    I don't understand how taking a gold bar out of the assay card will make the value of the gold go down. Or am I mistaken?

    • @JAVRTH
      @JAVRTH 8 месяцев назад

      Better ask a bank or places where you can sale your gold.. not this guy

  • @BrianHeimbuecher
    @BrianHeimbuecher 2 года назад +5

    Great content. I buy Aussie gold coins & bars for the most part, because I intend to settle down in the Philippines in the next 5 or so years, and there are plenty of Aussie tourists and the continent is fairly close by.

    • @lennybrewster4673
      @lennybrewster4673 Год назад +1

      You taking it with you? I don't think countries let you come in with any more than $10k in precious metal. I use kinesis and bitcoin for this reason. I can cash out into physical gold at any global kinesis vault globally.

    • @BrianHeimbuecher
      @BrianHeimbuecher Год назад

      @@lennybrewster4673 I'm considering PAXG (Pax Gold), another gold-backed token by Paxos. That seems to be where the physical gold coming off the Comex & LBMA winds up. And I'll bring in several ounces each time I travel to visit family there so I'm set when the time comes. Be well!

  • @locksporter
    @locksporter Год назад +1

    All these tests you’re doing should be done on the gold article outside it’s packaging. Even using an xrf. No point if it’s got it’s packaging. Accuracy is still uncertain.

  • @mrvrose9999
    @mrvrose9999 2 года назад +26

    This is an excellent video. Thorough, concise, and well explained. Great job and thank you for the valuable information.👏✌️🦅

  • @JayNayMay
    @JayNayMay 2 года назад +24

    I was having a heart attack for you lol. Man you are on it! Glad this worked out well for you

    • @SilverDragons47
      @SilverDragons47  2 года назад +4

      lol it was such a roller coaster! 🔥🐉

  • @P8REN
    @P8REN 2 года назад +9

    0:23 It won't go down in value. Gold is gold and that's why there's a global spot price. By taking it out of the assay, you just lessen the likelihood of being able to charge a premium on top of the spot price.

    • @eazye519
      @eazye519 2 года назад

      Well if you cant charge a premium then it's worth less

    • @P8REN
      @P8REN 2 года назад +2

      @@eazye519 Yes, it will be worth the global spot price as a minimum, which is what I said in my comment. But it can't be worth less than spot price (I.e the value of the gold).

    • @honestyfirst8835
      @honestyfirst8835 2 года назад

      Gold has a premium regardless of the package. Take the gold out and test before you buy. You will only sell gold for a premium to individuals. No refinery or coin shop is going to buy your gold with a premium. I deal with two. At the least I get 98% for bullion from refineries or as of late, I get spot price. Silver rounds I get spot price plus $5 premiums for generic rounds and bars.

    • @honestyfirst8835
      @honestyfirst8835 2 года назад

      @@eazye519 Not when you bought gold when it was low. No one is buying gold for $1700 with a premium of $80. Then trying to sell it for $1700. I bought 10 bars in July 2019. $1400. I paid $33 USD to $60 over spot. I sold six this year. Four for $1800, One for $1820 and One last month for $1671. I did not get a premium when I sold. But I made money.

    • @honestyfirst8835
      @honestyfirst8835 2 года назад

      @@P8REN Gold is only worth what you sell it for. Yes there is a spot price. But if you sell it below spot price, then it is worth less than spot when you sell it. However, if you bought the gold for less than the current spot price at which you are selling, plus the premium and are making a profit, then who cares?

  • @randallkelley3599
    @randallkelley3599 2 года назад

    2002 I bought 14 ounces at one time. I purchased at a well known coin store, and never regretted it for a moment. I stay with know sellers, always. But this was the most interesting vid you have made...ya for sure,....

    • @danielrozmiarek9303
      @danielrozmiarek9303 2 года назад

      Yes, a good one. A lot better than than reading the news for 12 minutes.

  • @jimmyofthesea1883
    @jimmyofthesea1883 2 года назад +3

    I like assy bars from Perth. They all come with surveyors numbers on them. I only have a few coins, but I'm coming around to them (no pun intended).

  • @bvssrsguntur6338
    @bvssrsguntur6338 2 года назад +6

    Do we need to be concerned, even if we buy from authentic brokers like SD bullion, APMEX etc?

  • @geigertec5921
    @geigertec5921 2 года назад +1

    There's probably tungsten rods inside that bar, that's a common trick they do in Chinese black market. They hollow out the bar and put tungsten rods inside.

  • @ralphemerson497
    @ralphemerson497 2 года назад +1

    Where are you buying these Assays? Does buying from the higher premium companies, like APMEX, ensure you are getting true products?

  • @shauncorless8965
    @shauncorless8965 2 года назад +3

    It's very easy for forgers to forge the cardboard the metals in ,,if they can forge the metal they can forge the card ,,only buy from reputable dealers 🤔

  • @erikk77
    @erikk77 2 года назад +1

    Thanks for the test info. I recently purchased two 1 oz gold bars for the possibility of election turmoil.

  • @leefury7
    @leefury7 2 года назад

    I like bars and I ONLY buy from a major bullion provider who ships Credit Swiss, valcambi or pamp bars. However, their last shipment were their own brand stamped bars, all serialized with certificates of authentication. You HAVE to trust your vendor. Personally, I don't buy local because he's about 40 stop lights away. Ugh.

  • @go4it764
    @go4it764 2 года назад +1

    The company was fined sued multiple times for threatening customers who posted negative reviews. The government has taken action against them

  • @philfortner1805
    @philfortner1805 2 года назад +4

    How about that several tons of copper infused gold plated gold that got discovered a few years ago from China? It was held as collateral for years and only discovered after the collateral was called and tested.

  • @TalkingBullion
    @TalkingBullion 2 года назад +7

    I did a recent video on a 2014 Libertad (silver) and had the same issue with the standard Sigma. It measured on the scale but was out of the brackets by a few ticks. Very curious. I did 5 other tests on it that all passed and I came to the conclusion that it was real. Maybe the mixture was off a bit or they only had .996 or .997. Not really sure why the standard Sigma didn't work...although I know they are not perfect. They are verifiers, not guaranteers 😀Great video SD.

    • @SilverDragons47
      @SilverDragons47  2 года назад +2

      yes indeed verifiers not a guaranteed thing 👍🏽🔥🐉

  • @XtremeChiliPepper
    @XtremeChiliPepper 2 года назад +3

    Have always stacked/collected silver bullion and coins. Just got into gold last year, and honestly I think I will only buy gold bars, in assay card, from reputable dealers. I pass on any 'bargains'. American gold is very expensive with the premiums, and Britannias aren't far behind. I just look for a good price on popular minted bars, whenever they come up.

  • @NickFromLongIsland
    @NickFromLongIsland 2 года назад +1

    Another reason why I only stack gold coins….. way less of a headache and worth the premium

  • @justinholland9844
    @justinholland9844 2 года назад +3

    It's not an assay card because it doesn't have an assayer's signature on it.

  • @onlylordknows9816
    @onlylordknows9816 2 года назад +2

    Great video…I am always learning something new on your channel,great information. I do have a quick question? Should I invest into a
    Sigma metalytics pro machine as well? I actually already invested in the standard sigma metalytics verifier you showed in the beginning, where you just set the coin on top and run. I know the pro runs approximately almost $900 more. Is the standard one not that accurate? Again great videos,any information would be appreciated,God bless.

  • @davidmiles4678
    @davidmiles4678 2 года назад +2

    That had me scared and it’s not even mine. Glad it was legit. New subscriber thanks for the information brother.

  • @eliasmailosson9547
    @eliasmailosson9547 2 года назад +2

    Seeing many pamps but not sure if it’s worth the risk

    • @ClashixTV
      @ClashixTV Год назад

      Definitely not buy from a reputable bullion dealer or mint of your country.

  • @GD-qn7xo
    @GD-qn7xo 11 месяцев назад

    The price of coins is affected by factors other that the amount of gold and are generally more expensive as they reflect the subjective value as a collector item rather than just the pure gold weight

  • @oldarkie3880
    @oldarkie3880 5 месяцев назад

    I began buying this year At first I was told to buy bars because of lower premium but then I found that it would be hard to sell. I am selling my bars ack to the dealer but it is very slow on their end.

  • @ItsEverythingElse
    @ItsEverythingElse 10 месяцев назад

    Agreed. I bought a bar from SDB because of a sale and while I'm sure it's real I may not get even spot when I go to sell. Stick with coins.

  • @davestruble1728
    @davestruble1728 2 года назад +2

    My local coin shop said they don't ike seeing pamp or Perth. They said because they are so popular they are faked alot. So he pays under spot for them if at all. On the other hand he said he liked my Geiger bar and would pay spot for that any day

  • @laurensargent5559
    @laurensargent5559 Год назад

    Thank you for the video. It's very eye-opening. I have some questions. What about cast gold bars? Are they easy to sell?

  • @750SonyP
    @750SonyP 6 месяцев назад

    Measure the electrical impedance of a coil with the bar or coin inside. Compare the readings to a identical you know is good.

  • @therealhawkeyeii7888
    @therealhawkeyeii7888 2 года назад +1

    The only thing I have in an assay card is a 1 gram Palladium Bar from Valcambi Suisse.

  • @masonjc8597
    @masonjc8597 2 года назад +2

    I take all my bars out the cards I’ve sold loads of gold and it hasn’t mattered that it isn’t in the assay card. All dealers will test the bars either way they definitely don’t rely on those assay cards to prove authenticity. Admittedly if you’ve got a rare bar or a collectible bar it’s best to leave in the assay

    • @lostepic5641
      @lostepic5641 2 года назад +6

      I also always get them out of the blisters and never have a problem with reputable dealers. Were previously always purchased at the current daily rate on the website. When I was once with a small gold buyer who buys something like dental gold or jewelry from private individuals, he actually tried to persuade me that they can only buy it as scrap gold because I opened the essay card. As I then told him that he could forget about that and that I would look for someone else, he wanted to negotiate again 🤣

    • @onehungrypanda316
      @onehungrypanda316 Год назад

      @@lostepic5641 ohh he had a sudden change of heart? lol

  • @danielrozmiarek9303
    @danielrozmiarek9303 2 года назад +2

    I have bought gold bars and coins from SD Bullion, BOLD PM, JM Bullion, and Monument Metals, all during 2022. The only bar is a 1 oz gold Perth Mint from SD Bullion and it is in the original assay. The others are all 2022 coins in capsules or sleeves: British Sovereign, 1/4 Canada Gold Maple, 1/4 gold Kangaroo, 1/4 gold Britannia, and 1/4 gold Perth Lunar 2023 Rabbit. (I wanted 2022 coins with Queen Eliz II) Do I have any reason to be suspect of these products from these dealers? I don't have the fancy testing equipment. Would these dealers ever acquire fake gold bars/coins and resell them without testing their authenticity? Could I end up with a fake that slipped in to their inventory by mistake (or not?)? How concerned should I be?

    • @KenWangpiano
      @KenWangpiano Год назад +2

      From the dealers you mentioned, the chances are nearly impossible that you'll get a fake.

  • @uhadme
    @uhadme 2 года назад +1

    Send it to professional grading service.. that certifies it, and preserves it

    • @deltalima6703
      @deltalima6703 2 года назад +1

      Then you know the one you sent was real, still cant be sure about the one you get back... ;P

  • @nathanr.494
    @nathanr.494 2 года назад +2

    if it were me. I wouldn't buy assay, but proven bars from a lcs right in front of me after testing.
    makes me wonder why these companies don't put security features right on to the bar itself though.
    I know some do, but it is not often.

    • @elcheekoful
      @elcheekoful 2 года назад

      What's some good proven bars you'd recommend? I'm a big Fan of APMEX

  • @cobra_joe6237
    @cobra_joe6237 2 года назад +2

    Great video - I have some gold bars by PAMP.

  • @ifindmetal
    @ifindmetal 2 года назад +1

    I have never heard X-RAY florescence only does surface . Plating would be so thin I would think any XRF would have no trouble

    • @rommee
      @rommee 2 года назад

      Yep, true XRF machines are xray machines and so can recognise entirely what they are made of. This is why they cost between $15000 -$30000 to buy. Many YT vids on this.

  • @guyjoslin7682
    @guyjoslin7682 Год назад +1

    Have you ever gotten fakes from reputable bullion dealers. Like SD or APMEX

  • @DigitalViscosity
    @DigitalViscosity 2 года назад +4

    At my shop I do buy assayed bars but I bust them out of the package and cut them in half they have to agree to this before I do. I only pay right at spot for them anyway. You won't believe how many I have found to have another piece of metal in the middle.

  • @TheJimmy5454
    @TheJimmy5454 2 года назад +4

    Great video very informative. I had an issue with silver also even on the sigma (basic one) an older trade unit. Only item I have cut in half and was real. Lol

  • @vongdong10
    @vongdong10 4 месяца назад

    My dad came home (australia) from vietnam and he showed me this gold bar and i just stared at him. I asked if its legit because the packaging is mediocre. He said he bought it from a jeweller but im not buying it.

  • @yf222000
    @yf222000 Год назад +1

    I have tried to bend a 1oz bar from Argo and Valcambi. To my surprise. It’s not easy to bend it by using fingers. I even put it in between the door frame and door and it took quite a bit of force to bend it. I got it from SD Bullion, so I don’t think they sells fake gold plated tungsten bars. Anyone has any different experience with trying to bend it?

  • @bobwilliamson9562
    @bobwilliamson9562 2 года назад

    Another way to test
    precious metals is to take a strand of hair and hold it down on the metal tightly so that no air is underneath the metal. Next take a lighter and put the flame directly on the hair, I the metal is real the hair will not burn. Try it bc it will blow your mind. I was taught this by my aunt who was 100% Cherokee.

  • @KurtOnoIR
    @KurtOnoIR 8 месяцев назад

    Would your machine normally say thin for a bar of that thickness? Because plating is thin...

  • @chiil034
    @chiil034 2 года назад +1

    I just stick to gold sovereign coins - Maples, Buffalos, ASEs, Krugerrands, Philharmonics, Britannias.

  • @James-un2zj
    @James-un2zj Год назад

    Coins have widely published sizes and weights. Much easier to verify a coin without any expensive machines. Simple home tests can verify a coin with 99.999% assurance.

  • @stevelauda5435
    @stevelauda5435 Год назад

    Very good, well informed video. most of my gold is maples then bars but they are from the ones you mentioned and Royal Canadian mint, my local coin dealer gets them from there. I do own some old American coins from U.S constitutional gold such as Eagles, and Indian heads because at heart I am still a coin colecter. I have a 1OZ gold Britania, but what i really want now is a gold buffalo, and a Libertad 1 OZ.

  • @James-un2zj
    @James-un2zj Год назад

    Cutting bars out of the assay card is better. Easier to test and sell. Gold is gold, taking out of assay card for NOT lower the price!! Unless it’s some special collector type. But loose gold always sells and at the going rate.

  • @martindrab4298
    @martindrab4298 2 года назад +4

    Thank you for your video, as always. I kinda envy you that advanced Sigma verifier. I wanted it too but when I finally gathered all the money necessary, it got sold out :-). Actually, do you know about any website that let's you verify your gold bars by their serial number (i.e. you enter the serial and get information about the bar)?

    • @SilverDragons47
      @SilverDragons47  2 года назад +1

      I do not know about any website with serial number look up but maybe perth mint bars you can contact the mint directly 🤷🏽‍♂️🔥🐉

    • @jimmylieb5225
      @jimmylieb5225 Год назад

      PAMP has a camera based system. It is called Veriscan.

  • @2fathomsdeeper
    @2fathomsdeeper 2 года назад +1

    A Sigma is my next purchase! Will be getting the bridge for 100 oz bars too.
    I did a massive silver buy under spot/face value ($10K+ in Constitutional, 1000 oz in bullion, and 200 oz gold for $2K!). The Constitutional came with about 10% being counterfeit. So, I'm testing everything! For $3400 in dollars, $300 in either brass or steel fakes were found. Haven't found any bad ones yet in the halves. The dimes concern me, as there's way too many bright uncirculated Mercury dimes in there to be real. Don't yet know about the 1 oz gold Krugerrands I found buried in the dimes, or the 100 oz bars I got in the deal. At least this deal has brought my cost average to 20% of face on the Constitutional, and about $4 per ounce on the silver bullion side.

  • @herbertvonsauerkrautunterh2513
    @herbertvonsauerkrautunterh2513 2 года назад

    I duck with Perth mint stuff. All the specs are on the website and they are here in Australia so shipping is easier for me.. plus their product is just way better

  • @tuyetpatten6270
    @tuyetpatten6270 3 месяца назад

    It's kind complicated for all the test ,I love the dragon Bar but too risk to buy one

  • @hagbard72
    @hagbard72 2 года назад

    Got a Gold Maple in an assay card five years ago, arrived the card was all warped. Let them know (SGB) and they didn't do anything about it. Have always wondered if the entire thing was fake. Haven't bought anything from them since. Also got a JM 1oz gold bar in plastic (not assay), from a local dealer ten years ago, has a serial number but the rear of the bar is bare. Never seen one like that which puts it on my questionable list. Don't think anyone around here has a Sigma machine to test it with.

  • @UPdan
    @UPdan 2 года назад

    I would say be more careful who you buy from and only buy from a company buying new from the country's mint, correct?

  • @tryolegend
    @tryolegend 2 года назад

    the cards are flimsy sometimes though, mine the back is has already fallen out and i have to put in another plastic ziplock bag

  • @dragonshoardstacker
    @dragonshoardstacker 2 года назад +2

    Hey SD I am worried about a site called Ali express they have so many fake bars in assey cards from all the main mints its ridiculous so until I get a sigma only coins or online bullion dealer purchases for me and I'm staying away from assey cards because my local coin shop only one in town won't take them because there are to many fakes coming through these days so be careful my friend thanks for the cool video

    • @SilverDragons47
      @SilverDragons47  2 года назад +1

      yeah never buy gold from them! 🔥🐉

    • @dragonshoardstacker
      @dragonshoardstacker 2 года назад

      @@SilverDragons47 yeah I'll never by from Ali express but because of them I won't buy anything in an assey card either right now

  • @goldbearbunny4787
    @goldbearbunny4787 Год назад

    Great advice I agree stick with gold that can be more recognized

  • @patriciaannelisedamrow-reg644
    @patriciaannelisedamrow-reg644 Год назад

    Good presentation. Trust no one, test everything.

  • @thatguy7085
    @thatguy7085 2 года назад

    Can you tell which is fake… US gold coins are purchased because making or selling a fake one is a felony.

  • @zed332l
    @zed332l 2 года назад +1

    I stay away from Gold for the reasons you discussed to much fake and the equipment to test is expensive. And the ROI ( return on Investment).is not worth the risk over silver IMO.

  • @Rbl7132
    @Rbl7132 2 года назад +1

    I only trust gold coins! Plus they have numismatic collector value on top of the intrinsic gold value! And you don't have to worry about counterfeits and you don't have to test it. You can weigh it and that's enough

  • @normanbrennan8684
    @normanbrennan8684 2 месяца назад

    you need a Vantage GX is much meter and will tell you what's in it all the way through and all other metals in it

  • @dariodiez395
    @dariodiez395 2 года назад +1

    very enlighting demostration

  • @Sheepy19801
    @Sheepy19801 2 года назад +2

    I dislike Gold for this very reason. Too much money in one investment that may go bad. If this was a silver bar/coin and you got it from a dealer who was scamming/lazy/incompetent. You are only out 30 some dollars (1oz). If you do this with gold you are out thousands of dollars. My local coin shop doesn't always catch everything (morgan dollars) so there is some risk no matter what.

    • @SilverDragons47
      @SilverDragons47  2 года назад

      yeah very true! 🔥🐉

    • @danielcruz2256
      @danielcruz2256 2 года назад

      If it's 1 deal ,you're right. But I'm assuming you're a stacker ,so let's say you buy a couple hundred oz of fake silver over a 2-3 year period then you're kinda in the same boat. So gold vs silver doesn't matter as much as its more of a you should be testing everything no matter what or who sells it to you

    • @danielrozmiarek9303
      @danielrozmiarek9303 2 года назад

      Also, after you get over 500 ounces of silver it gets too heavy to carry. My goal is to be able to carry my entire stash in an airline carry-on case. That means most of the value has to be gold.

  • @beakfish7319
    @beakfish7319 2 года назад +1

    I only buy from sdbullion or my trusted lcs. That way theres no chance of getting a fake.

  • @CaptainCurt07
    @CaptainCurt07 2 года назад

    *What about 1oz gold bars from “bought from APMX “ Switzerland with MINT ID chip that’s inside package, if u open it, then chip says tampered*

  • @MrPillowStudios
    @MrPillowStudios 2 года назад +1

    Always make sure you buy from trusted dealers.

  • @thesarge4457
    @thesarge4457 2 года назад +1

    WOW, that is scary Sir, I'm happy for you that it worked out well. Is there a poor's man's way to check Gold? IDK, just asking, I purchase fractional Gold coins, the meters you tested your Gold Bar with are not cheap, but I do purchase from reputable dealers online, hopefully they are not ripping me off and I should still check some how. Really Great Info Video, really appreciated. Thank You Sir.

    • @PHUCKyoutube689
      @PHUCKyoutube689 2 года назад

      Coins you just ping test. The pocket ping tester is good and paired with an app it is pretty hard to fool and pretty cheap.

  • @zackbarton7859
    @zackbarton7859 2 года назад +1

    Incredibly helpful. Thanks so much.

  • @Dautuvangbac
    @Dautuvangbac 2 года назад

    I wish i have so much machine to test gold like you.

  • @dasfahrer8187
    @dasfahrer8187 Год назад

    Why is there such a wide margin of error when measuring the size of it on that Sigma machine?

  • @bigripj
    @bigripj 2 года назад

    Ive been doing acre gold, i received my first bars and it seems cool, what so you think? I'll check ur passed vids

  • @SilverTiger86
    @SilverTiger86 2 года назад

    What’s a good way to test for those who can’t afford the Sigma?