What You Should Know Before Sending Gold and Silver to Refineries

Post on 16-May-2015

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Garfield Refining, one of Pennsylvania’s oldest precious metals refineries, presents actionable ways to avoid gold scams for people looking to send gold to a refinery.

Transcript of What You Should Know Before Sending Gold and Silver to Refineries

What to Do Before

BROUGHT TO YOU BY

SENDING GOLD TO A REFINERY

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

Research the

EXACT ALLOYSmixed with the gold you want to send. A trusted refinery with industry technology can help you determine these alloys—and your gold’s value.

www.garfieldrefining.com/pages/resources/refining-101

Test using a

MAGNET.True gold is not magnetic and should not react at all.

Do not rely solely on a magnet test. Non-magnetic metals can be used to produce counterfeit gold.

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

Inspect gold pieces for

MARKINGSwith magnifying glass.

Older pieces may lose markings from wear and tear. Counterfeit pieces may imitate markings.

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

Look for

NOTICEABLE DISCOLORATION.If a different shade of metal shows, the piece is only gold-plated.

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

Test the

DENSITY of gold. Historically, this method was used to test only pure gold.

Today, this test is completed solely by lab technicians.

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

DO NOT BITE THE GOLD TO TEST IT.

The piece could be gold-plated lead, which is softer than gold.

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

Place a drop of

NITRIC ACIDon the gold. If it bubbles/ fizzes or turns green, the metal is not karat gold. The less the metal reacts, the higher the purity. This test cannot accurately assess the actual value of the gold item, but it can help you spot fakes.

WHAT TO DO BEFORE SENDI NG GOLD TO A REFI NE RY

KNOW YOUR

WEIGHTS. All metal is

always weighed in “Troy Ozs”, and

not the standard avoirdupois. (If you

are using a standard scale,

be sure to adjust accordingly!)

1 avoirdupois oz = 0.911458333 Troy ozs.

CONNECT WITH US:

www.GarfieldRefining.com • www.facebook.com/GarfieldRefining • www.twitter.com/GarfieldGold

Find out more ways to protect yourself against gold scams:

GarfieldRefining.com/Gold-Scam-Prevention

THANK YOU!