ST. LOUIS, MO (KTVI)- There are many scams out there today trying to pass off fake gold and silver as the real thing. There are ways to tell fake from authentic to protect yourself.
Clay Teague, a numismatist with Scotsman Coin & Jewelry spoke with Fox 2 this morning with tips on how to spot the difference.
In gold or silver bullion the wording on the items is so very important. If you have a Gold American Eagle it must have 1 oz Fine Gold 50 dollars. It also must look sharp and crisp plus weight 21.9 DWT. These are ways of making sure that it is real.
The fake gold bar that John sent me a picture of is very convincing to look at is say One Troy Ounce and is also marked 100 Mills .999 Fine Gold, which means that it might have a thin layer of gold. These were give out as gifts to folks from different companies as incentives.
It is also very important to know who you are buying from, a dealer who can answer your question that will give you knowledge and help when you are ready to sell. If it is jewelry make sure you get a return policy so you can get a second opinion.
Scotsman Coin & Jewelry, 11005 Olive Blvd., St. Louis, MO 63141