Gold has been used as money (or a store of value) for thousands of years. It’s always been valuable to humans, for some reason, and it’s withstood everything history has thrown at it.

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Silver too.

Fiat money is what we use today. It’s essentially money created out of thin air, on a spreadsheet, by banks and the government via monetary policy, and it has absolutely nothing backing it. This is why currencies come and go, such as the Zim Dollar which lasted a few decades.

Of course, you should expect to pay a fee for the appraisal, but it’ll save you time and worry because you’ll have a solid answer on whether or not your gold is real or fake. Real Gold Stamps. When in doubt, use the following stamps to recognize the various karatages of real gold. Keep in mind these stamps can be fake, which is why it’s. Not only is gold coinage money, but it is often referred to as real money. To truly be a “gold coin” it must be legal tender of the government that issues it. Because the face value of gold minted coins are lower than the intrinsic value of its bullion, gold coinage is not used in commerce. The fundamental value of gold is likely above the $1200 per ounce range it is currently trading in. For those who believe paper dollars in circulation should be backed by physical gold, the real.

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Bitcoin is an interesting spanner in the wheel, mind you, and it’s one about which precious metals consultant Claudio Grass has mixed views. For good reason; cryptocurrency is very new and is invisible. It’s nothing more than computer code dependent on electricity and an internet connection.

But, like Bitcoin, gold and silver have something special about them.

They exist outside of the central banking system. They represent a type of independence; a kind of sovereignty.

I find that appealing.

Claudio joined me for a conversation about all of this.

Buying gold can be a great long-term investment, as long as you are buying real gold. Gold is a precious commodity, and for that reason it is frequently faked. The best way to determine whether your gold jewelry is fake, is to go to a jewelry store and try it on, however, this could cost you some money. Before heading out to purchase gold, you can read about a few simple ways to tell if gold jewelry is real.

Magnet
Jewellery cleaning cloth
Silver cleaning solution or bleach
Face powders
Powder brush

You may also be interested in: What is more expensive, yellow or white gold

Steps to follow:

The first way to tell if gold jewelry is real or not is to place a magnet next to the piece of gold. Real gold is not attracted to magnets, however, fake gold or gold-plated metals are.

Rub the gold with a jewelry cleaning cloth. If the gold is fake, a few rubs with the cloth will be enough to remove some of the gold. You can also do this with a white plate.

Place the gold in a silver cleaning solution. After a day, real gold does not rust, however, gold plated metals will.

Another more drastic method that involves chemicals is using bleach. Use rubber gloves to handle everything. Pour a drop of bleach on the ring. If it's fake, bleach can destroy the ring whereas it won't have any effect if it's real.

This is not a recommended method if you want to keep and wear the jewelry no matter if it's real or fake, as this will damage your jewel if it's a fake.

Rub face powder on the gold jewelry with a powder brush. Rub the powdered gold on your skin. If it makes a black mark, you've got real gold on your hands.

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Pieces of gold jewelry all have to be marked to indicate their realness. Get a magnifying glass and search for a mark o your jewel, which should indicate the amount of Karats that your gold jewel has.

If you have a piece of jewelry that is older, it may not have this mark.

Have you ever seen the iconic image of people biting a golden ring to make sure it's real gold? This is because, when bitten with slight pressure, fake gold jewelry will have dents or markings, whereas real gold will not.

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If you want to read similar articles to How to Tell if Gold Jewellery Is Real, we recommend you visit our Fashion & Style category.

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Your best bet if you want to rest assured if a gold jewel is real or not is to take it to a professional, especially if you don't want to damage it.