How to Spot Fake Gold and Silver Bullion in the UK
Counterfeit bullion exists, but with basic knowledge and sensible buying practices, the risk to UK buyers is manageable. This page explains what to look for and how to protect yourself.
Why Fake Bullion Exists
Precious metals have held value for thousands of years, which makes them an attractive target for counterfeiting. The motivations are straightforward: genuine gold and silver command high prices, and sophisticated fakes can potentially be sold at or near those prices.
Counterfeiting has become more sophisticated over time. Modern fakes may use materials with similar density to gold (such as tungsten) or employ high-quality printing for packaging and certificates. However, these fakes are not undetectable—they simply require more careful inspection than in the past.
The good news is that most counterfeit bullion enters the market through specific channels, and buyers who understand these risks can take practical steps to avoid them. The vast majority of transactions through established UK dealers involve genuine products.
Common Types of Fake Gold and Silver
Gold-Plated Tungsten
Tungsten has a density very close to gold (19.3 g/cm³ vs 19.32 g/cm³), making it difficult to detect by weight alone. A tungsten core plated with real gold can pass basic visual and weight tests. This type of fake is most commonly found in larger bars rather than coins, as the manufacturing process is complex.
Base-Metal Cores
Less sophisticated fakes use cheaper metals like lead, brass, or copper as a core, with a thin gold or silver plating. These are generally easier to detect because the overall density is noticeably wrong. Weight and dimension checks often catch these.
Fake Coins vs Fake Bars
Coins are generally harder to counterfeit convincingly than bars. They have precise dimensions, intricate designs, and distinctive sounds when struck. Bars, particularly larger ones, offer counterfeiters more margin for error and are more likely to be targeted. Well-known coins from major mints (Britannias, Maple Leafs, etc.) have security features that are difficult to replicate.
Counterfeit Packaging and Certificates
Some fakes come with convincing packaging, assay cards, or certificates of authenticity. These documents are relatively easy to reproduce compared to the metal itself. Packaging alone should never be relied upon as proof of authenticity—it is the metal that matters.
Visual and Physical Checks (Beginner-Friendly)
While no single test is definitive, a combination of basic checks can identify many counterfeits. These methods require minimal equipment and can be performed at home.
Weight and Dimensions
Genuine bullion products have precise specifications. A 1oz gold coin should weigh 31.1g (one troy ounce) and have exact diameter and thickness measurements. Deviations of more than 0.1-0.2% are suspicious. Accurate digital scales (0.01g precision) and calipers are essential tools.
Magnet Test
Gold and silver are not magnetic. If a strong magnet (ideally a rare-earth magnet) attracts the metal, it contains ferrous material and is not genuine. However, passing the magnet test does not prove authenticity—tungsten and other non-magnetic metals will also pass.
Sound / Ping Test (Coins)
When balanced on a fingertip and gently struck, gold and silver coins produce a distinctive, high-pitched ring that sustains for several seconds. Base metals produce a duller, shorter sound. This test requires practice to recognise the difference and works best with coins, not bars.
Surface Finish and Detail
Examine the coin or bar closely, ideally with a magnifying glass. Genuine products from major mints have crisp, consistent details. Fakes often have soft edges, uneven surfaces, or slightly different design elements. Comparing to known-genuine examples or official mint images helps.
Serial Numbers on Bars
Many bars from reputable refiners have unique serial numbers. Some refiners maintain databases where these can be verified. If buying a bar with a serial number, checking it against the refiner's records (where available) adds a layer of assurance. Be aware that counterfeiters may duplicate real serial numbers, so this check is not foolproof on its own.
Testing Methods Buyers Should Understand
Digital Scales and Calipers
A precision digital scale (accurate to 0.01g) and a set of calipers (accurate to 0.01mm) are the most practical tools for home verification. By measuring weight, diameter, and thickness, you can calculate the density of a coin or bar. Gold has a density of 19.32 g/cm³, while silver is 10.49 g/cm³. Significant deviations indicate a problem.
XRF Testing
X-ray fluorescence (XRF) analysers can determine the elemental composition of metal by bombarding it with X-rays. Professional dealers and refiners use XRF machines to verify bullion. These devices are expensive (typically thousands of pounds) and require training, so they are not practical for home use. However, reputable dealers will often XRF-test items on request, and this service may be available at specialist shops.
Ultrasound / Density Testing
Ultrasound devices measure how sound travels through metal. Because tungsten and gold conduct sound differently, ultrasound testing can detect tungsten-cored fakes that pass other tests. This equipment is also expensive and primarily used by dealers and assay offices. For high-value purchases, some buyers have items tested at an assay office or by a dealer with appropriate equipment.
Why Home Tests Are Limited
Basic home tests (weight, dimensions, magnet, sound) can catch many counterfeits, but sophisticated fakes—particularly tungsten-cored gold bars—may pass all of them. This is why buying from reputable sources remains the most important protection. If you have concerns about a specific item, professional testing is available.
Where Risk Is Highest
Understanding where counterfeits are most likely to appear helps buyers make informed decisions about where to purchase.
- Private sales: Buying from individuals (at car boot sales, through classified ads, or in person) carries the highest risk. There is often no recourse if the item turns out to be fake.
- Online marketplaces: Platforms like eBay or Facebook Marketplace have counterfeit bullion listed. While some genuine sellers use these platforms, the lack of verification makes them riskier than buying from established dealers.
- Deals that seem too good to be true: If someone is offering gold or silver significantly below the spot price, there is usually a reason. Genuine bullion has a known value, and sellers rarely accept large losses.
- Unverified overseas sellers: Purchasing from unknown sellers abroad compounds the risk. Returns may be difficult or impossible, and legal recourse is limited.
How UK Buyers Reduce Risk in Practice
Most UK buyers purchase bullion without ever encountering a counterfeit. This is largely because they follow sensible practices that minimise exposure to high-risk channels.
- Buying from established UK dealers: Reputable dealers have their reputation and business at stake. They typically test incoming stock, offer guarantees of authenticity, and have clear return policies. The small premium you pay over spot price includes this assurance.
- Understanding return and buyback policies: Before buying, check what happens if you need to return an item or sell it back. Dealers who offer straightforward buyback at transparent prices are demonstrating confidence in their products.
- Keeping documentation: Retain receipts, invoices, and any certificates that come with your purchase. This documentation establishes provenance if you later sell the item and provides evidence if a dispute arises.
- Storing items securely: Keep bullion in its original packaging where practical, and store it securely. Tamper-evident packaging (such as sealed assay cards) provides additional confidence in the item's integrity.
Frequently Asked Questions
Can fake gold pass a magnet test?
Yes. The magnet test only detects ferrous (iron-containing) metals. Non-magnetic metals like tungsten, lead, brass, and copper will not be attracted to a magnet, just like real gold. The magnet test can rule out some fakes but cannot confirm authenticity.
Are silver bars easier to fake than coins?
Generally, yes. Bars have simpler shapes and less intricate details than coins. Coins from major mints have precise dimensions, complex designs, and sometimes security features (like micro-engraving or edge lettering) that are harder to replicate. Additionally, silver's lower value compared to gold means counterfeiters have less financial incentive to invest in sophisticated fakes.
Is packaging proof of authenticity?
No. Packaging, certificates, and assay cards can be counterfeited more easily than the metal itself. While tamper-evident packaging from a reputable dealer provides some assurance, packaging alone should never be relied upon as proof. The metal itself must be verified.
Do all dealers test bullion?
Practices vary. Established dealers typically have processes for verifying incoming stock, which may include XRF testing, ultrasound testing, or detailed physical inspection. However, there is no universal standard. If testing is important to you, ask the dealer about their verification procedures before purchasing.
What should I do if I suspect a fake?
If you purchased from a dealer, contact them immediately with your concerns. Reputable dealers will typically offer to inspect the item and resolve the issue. If you bought privately and suspect fraud, you may wish to report it to Action Fraud (the UK's national fraud reporting centre) and seek legal advice. Having the item professionally tested can confirm whether it is genuine.
Are coins from The Royal Mint safe to buy?
Coins purchased directly from The Royal Mint are genuine. The risk arises when buying Royal Mint coins from third parties, where the chain of custody is less clear. If buying from a dealer, established UK bullion dealers source their stock through verified channels and offer authenticity guarantees.
Can I get bullion tested at a pawn shop or jeweller?
Some pawn shops and jewellers have basic testing equipment (such as acid tests or electronic testers), but these may not detect sophisticated fakes like tungsten-cored gold. For more thorough testing, specialist bullion dealers or assay offices with XRF or ultrasound equipment are more reliable options.
Is it worth buying a gold testing kit for home use?
Basic testing tools (precision scales, calipers, a strong magnet) are relatively inexpensive and useful for initial checks. Acid test kits are available but require care and can damage the item's surface. Electronic testers vary in reliability. For most buyers purchasing from reputable dealers, basic tools are sufficient. Those buying from private sources or secondary markets may find additional testing equipment worthwhile.
Important Notice
This page is for general educational purposes only. It describes common methods for identifying counterfeit bullion but does not guarantee detection of all fakes. No testing method is completely foolproof. Buyers should exercise their own judgement and, where appropriate, seek professional verification. This information does not constitute advice of any kind.