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WHAT TO DO BEFORE BUYING PRECIOUS METAL?

September 21, 2022

In this time and age, when buying precious metal is a business for many, there are chances that buyers could be deceived by fake gold pieces. Gold is no more found in mines because they are emptied long time ago.

Before buying precious metal like gold, one should take certain factors into consideration. The first factor is about the originality of the metal. Simply put how pure the metal is. In case of gold, the purity is measured in carat and only 24K is considered as pure gold. The gold prices are an all time high these days hence one needs to be careful while buying gold. There are people who look for ways to dupe jewelers by producing fake gold as pure. The buyer should rely only on the gold acid test and not on the bogus claims made by the seller.

If you are into the business of buying precious metal then you should know how to do an acid test on a gold piece to ascertain its value. First buy a gold acid test kit from the market and try on the gold pieces you have at home. Soon you will become an expert as acid testing is not a rocket science. Though there are computerized gold testers available in the market, jewelers rely on acid test because it gives accurate results. In addition, you can take your acid test kit to places and since it is manual, you don’t fear of technical glitches.

In this time and age, when buying precious metal is a business for many, there are chances that buyers could be deceived by fake gold pieces. Gold is no more found in mines because they are emptied long time ago. Now gold is found in our homes in the form of broken ear rings, damaged necklace and rusted ornaments. Buyers tempt people to sell old and worn out gold pieces for quick money. Sometimes people sell their gold out of their necessity. Most of the times, people don’t know the exact value of their gold hence they rely on the test done by the buyer.

Buyers should make sure that their acid test kit has all the acid bottles and black stone to convince the seller. Buying precious metal is not a big deal but determining the value of gold is really a job. The acid test can provide great help but there are other considerations that too need to be solved. The buyers should have a fair understanding of what makes a gold price rise. Also they should have the means to know the current gold prices. An unaware buyer will only lose money.