How to Spot Fake Silver Coins?
Coin collecting is one of the most preferred hobbies around the world. The strong demand and limited supply of silver has led to a significant appreciation in the market value of silver coins. This is one of the reasons why several investors are now realizing the potentials of investing in this precious metal and its coins.
When you’re in the market shopping for silver coins, there are many fraudulent businesses that charge a premium over counterfeits and fakes. Such coins have little to no yield and their intrinsic value is insufficient to cover even a cent of your investment.
So the next time you’re on a lookout for genuine and high-value silver coins, here are a few ways by which you can spot the fake from the real ones:
A piece of magnet always does the trick. Silver and gold bullions and coins are non-magnetic. Fake coins are produced from highly-magnetic materials and easily adhere to it. If your silver coin tends to show even the slightest attraction towards a magnet, then it’s time to throw it away and sue your seller for damages. For the best results, use a strong neodymium magnet.
Use the Ice
If you don’t have a magnet at home, then there’s another simpler way to test a silver coin. Place an ice cube on your coin, sit back and observe it. Of all the metals in the periodic table, silver ranks the highest in terms of thermal conductivity. This means that the ice should start to melt almost as soon as it is placed on the coin. If it takes longer than 5 minutes to melt, then it’s either an alloy or impure silver.
Check the Dimensions
This test only applies to bullion coins issued from government mints. In the United Sates, a genuine American Silver Eagle coin can easily pass this test. You can use a digital electronic scale to measure the authenticity of silver coins, up to the nearest decimal place. American Eagle Silver coin has a minted weight of 1 Troy oz. (approx. 31.104 grams) and measures around 41mm in diameter. If your coin surpasses or is smaller than the said dimensions, it can be a fake coin.
Digital electronic balance is a sophisticated machine and is not easily available. For a cheaper alternative, you can use bleach to determine the worth of your silver coin. Pure silver easily oxidizes in bleach and tarnishes very quickly. A drop of bleach is enough to turn it black. While this test is efficient, it will reduce the market value of your coin substantially.
Silver is not only a good conductor, it is also malleable and produces a high-pitched ring sound when colliding with another metal. This “ping test” requires you to place the silver coin on your finger top and another coin between thumb and forefinger. Tapping silver coin with the other metal coin produces a bell-like ring. This ring is an indication that the silver coin is authentic.
Buy from a Reliable Dealer
Reliable and quality-assured coin collecting supplies can only be availed from a reliable coin supply vendor, such as CS Supply Central.
Contact CS Supply Central today and learn more!