In this article, we’ll be discussing everything you need to know about buying certified gold bullion bars, including what to look for when purchasing them, where to buy them, and tips on how to spot the real deal.
Introduction to Certified Gold Bullion Bars
Gold bullion bars come in a variety of sizes, with the most common being 1 oz, 5oz, 10 oz, and 1kg sizes. There are strict criteria to evaluate the bars, including weight, purity, and condition.
Understanding Gold Bullion Bar Serial Numbers and Certification
An identification number that is engraved on the bar is called a serial number. There are three different locations where each bar’s unique serial number can be found. It is initially located at the bottom of the bar, barely below the surface. On top of the bar close to its centre is the second location where it can be discovered. The third location is towards the edge of the bar on either the front or backside.
Each bar must have at least one certification mark for it to be considered authentic. These certifications include:
1) A raised or holographic seal that reveals the gold bullion bar’s serial number and/or additional details
2) A micro-printing (small print) logo that includes the gold bullion bar’s serial number and/or other identifying details.
3) Each gold bullion bar has a certified assay (certification number) stamped into an imprinted spot-on top of it.
How to Check for a Legitimate Gold Bullion Bar
Here are some guidelines and techniques to assist you to identify whether a gold bar is genuine or fake:
- Check the bar’s weight.
- Verifying that the certification number and the serial number of the bar match is the best way to do this.
- Check the purity seal (if available)
- Verify that the bar’s surface is free of laser traces.
Dangers of Fake Gold Bullion Bars
A legitimate gold bullion bar is one that has been produced by a recognized mint, with a metal purity of 999.9 or above.
Not all gold bars, nevertheless, are real. “Plated” or “panned” gold bars are two terms used to describe some fakes. To give them their golden appearance, these are constructed from other materials like brass or copper and then plate with actual gold dust.
Buying Certified Gold Bullion Bars
The first thing you should do when you want to buy gold bars is to find a reputable dealer. Here are some tips:
Do your homework. Researching online will help you learn more about the market for gold bars, its laws and regulations, and the different kinds of dealers that can be found nearby. On numerous platforms, including eBay and Amazon, you may also review information on each vendor.
Enquire locally Consult with your friends and relatives to see if they have ever purchased from the dealer in question or know someone who does business with them. Inquire about the dealer’s reputation, the products they offer, and other information.
Verify their credentials – Before making a purchase from any dealer, you can confirm that whether they are a trusted dealer by checking their reviews online or whether they have been listed as authorized dealers by reputable mints. Instant Gold Refining for example is listed as an authorized Royal Canadian Mint dealer on their official website. These certifications give the customer the peace of mind required when purchasing precious metals.
Takeaway: Buy gold bullion bars with confidence.
By following our tips, you will be able to spot the real deal and make a wise investment in certified gold bullion bars.
Contact Instant Gold Refining today to purchase your Gold and Silver Bullion products. We carry a huge variety of denominations that will surely fit your investing and collecting needs. Should you be looking for a specific Mint or Company, contact us for availability on your favourite products like the 1 oz Silver Maple or even Fractional Gold Maples. We have it all!