Frequently Asked Questions | Goldanalytix

Bars or coins are usually made of pure gold or well-known alloys. However, when it comes to precious metal jewellery, there are many different compositions of a wide variety of materials, which can pose a challenge. With the CaratScreenPen, however, you can determine the fineness (karat) of gold non-destructively and in a matter of seconds. If you’d like to learn more about what to look for when testing jewellery, you can find detailed information on our gold testing page.

Yes! The products are also suitable for authenticity verification at banks.

Thanks in particular to their non-destructive testing in a matter of seconds and their clean measurement method that does not require hazardous testing acids, Goldanalytix devices are the perfect choice for banks and asset managers. 

Learn from the mistakes of others (Sparkasse Göttingen, Kingold, etc.) and find out now about suitable testing methods. Abroad, the GoldScreenSensor  is already being used on a large scale by banks.

The sound test is only of limited use for reliably verifying the authenticity of precious metals. Only a trained ear can detect counterfeits this way; however, with some alloys or certain manufacturing processes (e.g., sintered counterfeits), the sound can be imitated very effectively. Therefore, this test alone is not sufficient and cannot replace other testing methods.

1. “Highway Gold”: These are counterfeits that are sold as real gold but are actually made of a different material and are merely gold-plated. For counterfeits of this type made with tungsten, conductivity measurement using the GoldScreenSensor/GoldScreenPen is highly effective for identifying the counterfeit. If the object is made of a different material (e.g., brass), then its weight, dimensions, and density will also differ from the original.

2. Under- or Over-Alloying: This type of counterfeit occurs primarily in jewellery. In this case, a gold content different from what is actually present is stamped on the object. For example, a gold necklace might bear a 750 hallmark, even though it is actually made only of 333 gold. This type of counterfeit is best identified using the CaratScreenPen. 

3. Cores Made of Foreign Metal: These objects often consist of a relatively thick layer of gold but have a core made of a different metal (usually tungsten). Their dimensions, weight, and density are very well imitated, which is why these counterfeits are very difficult to identify. For thicker bars, the BarScreenSensor is suitable; for smaller ones, the GoldScreenSensor or the GoldScreenPen  can also be used. 

4. Counterfeit hallmarks and stamps: This type of counterfeit is most common in the jewelry and coin sectors, but has also appeared in gold bars in recent years. Older coins with high collector’s value are imitated, and attempts are made to sell these specifically. These counterfeits can be detected by carefully examining the minting or by testing the physical properties using various devices and methods. In the case of gold bars—usually weighing 1 kg—illegally mined gold is often stamped with the mark of renowned mints, such as Argor-Heraeus, and sold as genuine. With this type of bar, one should pay particular attention to the security features that have since been incorporated, similar to those found on banknotes. Otherwise, the fineness differs only minimally from the 999.99 of the originals, as these counterfeits have not been manufactured to the same high standard.

Investment Gold: EU Directive: “Gold in the form of bars or ingots of a weight accepted by the gold markets and a fineness of at least 995 thousandths […] or gold coins with a fineness of at least 900 thousandths.” For gold coins, it is also essential that they were minted after the year 1800, are or were legal tender in their country of origin, and are sold at a price that does not exceed the market value of their gold content by 80%. 

Bars: Bars are molten metal cast into a standardized shape to make them easier to transport and process. 

: A blister pack is a type of transparent packaging used primarily for ingots of all kinds. The ingot is usually positioned in the center of the blister card, which both protects it and presents it attractively. The packaging allows the ingot to be viewed from both sides. 

Fineness: This expresses the percentage of a precious metal in a coin or bar. Fineness is stated in parts per thousand. 

Electroplating: Electroplating is a surface finishing technique. Two purposes: functional plating (e.g., protection against corrosion/wear) and decorative plating (chrome plating). Counterfeiters use this technique to make tungsten cores appear genuine. 

Gold Standard: The gold standard refers to a monetary system commonly used in the past, in which gold was the primary component of currency. 

Karat: Karat is used to indicate the purity (fineness) of gold. Example: Gold 585 refers to an alloy with a gold content of 583 1/3, which corresponds to 14 karats; 999 fine gold refers to gold with a purity of 999 parts per 1,000, which corresponds to 24 karats. 

Full-value coin: This term refers to coins whose face value is (nearly) fully backed by the metal from which they are made. The opposite of this is a token. 

Alloy: Alloys are mixtures of usually two or more metals. Well-known alloys in the precious metals sector include, for example, rose gold (gold-copper), white gold (gold-palladium-silver), and yellow gold (fine gold-silver-copper).

Hallmarking/Hallmark/Stamping: The stamping of precious metals is referred to as hallmarking. The fineness of the material is often stamped onto the coin. 

Refinery: A refinery (also known as an assaying plant) is a company that separates various metals bound together and, so to speak, recycles metals. The end product is a precious metal that is as pure as possible, which can then be resold. 

Legal tender coin: This term refers to coins whose face value is not backed by their metal value. Ounce/Troy Ounce: An ounce is a unit of measurement for the mass of a wide variety of objects (e.g., common ounce, fluid ounce). In the context of precious metals, the troy ounce is used, which is approximately 31.10 grams. Test your precious metals safely with Goldanalytix testing devices.

Density: 
- The density of a body describes its mass in relation to its volume 
- “Pseudo-density” can be calculated from the dimensions and weight of the object in question
- Every material has a specific density 

Conductivity: 
- Conductivity refers to a material’s ability to transmit energy (e.g., electricity, heat) 
- Conductivity is measured in megasiemens per meter 
- Our devices measure conductivity using inductive eddy current measurement 

Magnetism: 
- Diamagnetism = the occurrence of a magnetic field (magnetization) when an external magnetic field is applied to a substance, whereby the magnetization is directed opposite to the external field 
In short: Diamagnetic materials are repelled by a magnet. 
- Paramagnetism = a form of magnetism in which a material exhibits no measurable magnetic moment in the absence of an external magnetic field, but becomes magnetized in the presence of an external field. 
In short: Paramagnetic materials are slightly attracted to a magnet. 
- Ferromagnetism = When an external magnetic field is applied, the elementary magnets align in the same direction. The ferromagnetic material itself becomes a magnet. 
In short: Ferromagnetic materials are attracted to a magnet. 

Susceptibility properties: 
- Describe the ratio of a material’s magnetization to the magnetic field strength 
- This so-called magnetic susceptibility can be measured using a magnetic balance

Goldanalytix manufactures and develops its own products to the highest quality standards in Regensburg, Germany, at the headquarters of its parent company MARAWE GmbH & Co. KG.

Anonymous purchase only possible below 2000 Euros:

If the purchase of gold, silver or other precious metals in Germany is to remain anonymous, the price of the purchased precious metal must not exceed a price of 1.999.99 Euros. For any sum exceeding this amount, the dealer is required by the Money Laundering Act to record personal details. Most countries have their own limitations, which should be researched before buying.

For large gold bars, the dealer surcharge is lower:

If a fixed amount is to be invested in physical precious metals, it is advisable to buy bars that are as large as possible, as the dealer's markup is comparatively large for small bars. A 1-ounce bar costs about € 1770 (as of August 2023). 1 ounce of gold in the form of 1 - gram bars, on the other hand, costs 1840 Euros. The price per gram exceeds the price of an ounce significantly. For coins, the premiums are also higher than for bars because of the minting.

Buy gold coins or 995 gold bars instead of paying VAT:

In Germany, if gold is to be purchased in bar form, it makes sense to buy pure gold bars (99.5% gold content), as no VAT is due for this purity or more. Gold coins are exempt from VAT from a purity of 90% on, but only if they were minted after 1800 and are or were considered official currency in their country of origin. In addition, the price may not exceed the material value of the gold content by more than 80% (some collector coins have an even higher market value). When buying silver or other precious metals from commercial dealers, the usual 19% German VAT is always charged in Germany.

Jewellery and collector coins are mainly suitable for connoisseurs:

With jewellery and collector coins made of precious metals (e.g. antique or rare coins), it should be noted that the value of the piece is not only composed of the pure metal price, but other factors can also influence the value. For jewellery, for example, the quality of workmanship, the manufacturer, or an additional gemstone can drive up the price. With coins, such an increase in price can be caused by the age, the country of origin or the depicted motif. A certain amount of expertise is required to determine value, and possible increases in the value of new coins are usually associated with speculative risks.

Small objects are usually easier to sell:

Even though the premium for smaller objects is higher, they are often easier to sell. You can both turn part of the investment amount back into cash (cutting up large bars reduces the sale value) and, in social crises, better use the small pieces as barter items.

Buy from the dealer or check for authenticity yourself with private sellers:

It is advisable to buy gold and other precious metals from reputable dealers. Otherwise, if one would like to save e.g. the value added tax (amounts to with precious metals except gold after all 19%) by private purchase, it should be examined whether the precious metal is genuine. The necessary tests can either be done by yourself (e.g. with the GoldScreenSensor) or by a precious metal dealer.

Purchase gold locally instead of buying a fake on the Internet:

It is not advisable to buy precious metals via private online trading platforms such as Ebay or Amazon, as fraudsters have an easy game there. It often happens that customers assume they have made a good deal and then only receive a fake made of copper with a thin layer of gold. However, if there is ever a genuine offer on these platforms, it is usually overpriced, as platforms such as Ebay or Amazon always demand fees from sellers. A personal sales meeting is preferable to sending a package when buying privately to be able to verify authenticity. Scammers would not allow you to do your own verification nor give you a return policy.

Hallmarking is not essential, yet it is not unimportant:

Hallmarking is standard on newer coins, jewellery or bars. In addition to the fineness, it sometimes provides further information about the precious metal, e.g. which manufacturer it comes from, what material it is made of or when the piece was manufactured.