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Watch Out For Fake Gold
Written by Jack Wogan   
Saturday, 17 July 2010 07:23
Gold bullion has always been thought of as a good investment, because it is rather safe when it comes to economical or currency crises and is rarely affected by inflation. Having said that, if you are thinking of investing in gold, you should keep in mind that because of the recession, the precious metals market is now full of counterfeit merchandise. Forged gold is often cheaper and can make you think you've found a bargain, but remember to be careful and take your time when deciding on a purchase.
by JackWogan


Gold bullion has always been thought of as a good investment, because it is rather safe when it comes to economical or currency crises and is rarely affected by inflation. Having said that, if you are thinking of investing in gold, you should keep in mind that because of the recession, the precious metals market is now full of counterfeit merchandise. Forged gold is often cheaper and can make you think you've found a bargain, but remember to be careful and take your time when deciding on a purchase.

The first thing you ought to know is that the best dealers to buy from are those you already know or those who have the reputation of being good professionals. If you are buying online (which you should know isn't a very prudent thing to do), make sure you spend some time researching the seller and his/her methods. You might come across past customer reviews that could help you decide.

It is also very important that you have a third party specialist check out the gold and certify its authenticity. It may seem to you that the gold is genuine, but a true professional will be able to tell for sure and, if the situation arises, point you in the direction of a genuine dealer.

In case you don't want to work with a specialist, you could also try and test the gold yourself, using gold testing kits that you are available both online and in stores or more traditional methods (like the scratch test or the magnet test). If you decide to do so, remember that these methods are not foolproof and have deceived many buyers before you.

You should also remember not to assume that the dealers are perfectly honest. Trust your instinct: when a deal sounds too good to be true, it probably is. Make sure you are familiar with the price level for precious metals and are up to date on the news from the specialized market.

In the end, if you discover that, despite all the caution measures taken, you have bought fake merchandise, contact your local police station and give them every detail you can gather about the transaction. They should be able to help you regain your money and you will have the satisfaction of having helped them bring the guilty person to justice.

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