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7 Warnings for Those Planning to Buy Gold

7 Warnings for Those Planning to Buy Gold

Is it better to invest in physical gold or digital gold? This is a question that many citizens are seeking an answer to. In recent times, even gold purchased from jewelers has been found to be counterfeit, indicating that there are certain points to be cautious of when seeking a safe haven investment. Suat Yıldız, who shares posts under the username 'Dividend Master' on platform X, highlighted seven points to consider when investing in physical gold.

Source: https://onedio.com/haber/altin-alirke...
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How can one distinguish fake gold? This question was posed by a user on X.

How can one distinguish fake gold? This question was posed by a user on X.
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A user named '@@savingup' on X platform asked about how to identify fake gold. Sharing a picture of a gold piece, the user expressed, 'Apparently, this gold is counterfeit. I specifically want to ask those who accumulate physical gold:

How do you discern whether such 1-gram gold pieces are fake or genuine? Is it absolutely necessary to open the package and check it to truly understand?

I'm curious about your experiences.'

Things to Consider When Buying Physical Gold.

Things to Consider When Buying Physical Gold.
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Suat Yıldız shared his insights on the matter, stating 'When I buy physical gold, I pay attention to 7 things,' and listed the following points:

1. The first thing I look at is the packaging.

The name of the refinery, serial number, weight, purity, and hologram. If there's the slightest imperfection or fading in the print quality, I don't buy it straight away.

2. I always check the serial number.

It can be instantly verified on the websites of refineries like IAR, Nadir. It's a 10-second task, but it gives me peace of mind.

3. An unopened package is a red line for me.

Blister packaging can't be resealed. If I see any signs of opening, stickiness, or bubbles on the edges, I don't bother.

4. I ask the jeweler, 'Can we check it with a device?' and get confirmation.

Having a receipt is also a must for me. These are usually not a problem at a trustworthy jeweler.

5. I also perform a magnet test.

Gold doesn't react to magnets. If there's any attraction, it's a bad sign.

6. I try to check the weight as well.

1 gram of gold + packaging usually weighs 1.15–1.25 g. If there's a significant difference, I become suspicious.

7. Trustworthy jeweler

I've been shopping from the same jeweler for years.

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