Protect Your Investment: A Guide to Spotting Fake Gold Sovereigns
Gold sovereigns are a popular form of bullion and are highly sought after by collectors and investors. They are widely recognized and are seen as a safe investment option. However, with the increasing demand for gold sovereigns, there has been a rise in the number of fake gold sovereigns in the market. This has put many investors and collectors at risk of being scammed. In this article, we will look at what fake gold sovereigns are, the risks associated with them and how to authenticate them.
The Rise of Fake Gold Sovereigns
The demand for gold sovereigns has been on the rise in recent years, making them an attractive target for counterfeiters. The rise of online marketplaces and private sales has made it easier for counterfeiters to reach a wider audience and sell fake gold sovereigns.
The Risks of Buying Fake Gold Sovereigns
Fake gold sovereigns pose a serious risk to investors and collectors. They are often sold at the same price as genuine gold sovereigns, making it difficult to differentiate between the two. Not only do fake gold sovereigns have no value, but they also pose a risk to the buyer’s reputation. If it is discovered that a collector or investor has a fake gold sovereign in their collection, it can damage their reputation and credibility.
How to Authenticate Gold Sovereigns
It is essential to authenticate gold sovereigns before making a purchase. Here are some steps you can follow to ensure that you are buying a genuine gold sovereign:
- Check the weight and size of the gold sovereign. Genuine gold sovereigns are usually 22.05mm in diameter and weigh 7.98g.
- Examine the edge of the gold sovereign. Genuine gold sovereigns have a reeded edge.
- Look for hallmarks on the gold sovereign. Hallmarks are markings that indicate the quality and purity of the gold.
- Check the date of the gold sovereign. Genuine gold sovereigns will have a date and the name of the monarch who was in power at the time.
- Have the gold sovereign appraised by a professional. This is the most accurate way to determine the authenticity of a gold sovereign.