You’ve decided it’s time to sell some of your gold, silver, or platinum bars you invested in years ago only to find out that the precious metal is plated copper. Sadly, this is becoming a story too often told with some of the most recent reports being in September of this year in Ohio.
The fake bars, which are actually copper, are being plated in their respective precious metals, nickel, or alloy, and the counterfeiters are going so far as to create fraudulent PAMP packaging.
Luckily, there are a variety of ways to determine if a precious metal bar is real. One such way is to know the dimensions of a pure bar. Counterfeiters are sometimes sloppy with their work, and the bars are thicker than a real bar.
Additionally, with the introduction of VERISCAN, an innovative technology available in the form of a smartphone app, buyers and dealers are given a bit more security against counterfeit bars. Since each bar contains its own unique surface characteristics, much like that of a human fingerprint, registered bars purchased through PAMP can be scanned with a phone and the consumer or dealer will know within seconds if the bar is authentic.
Since the launching of VERISCAN, investors and dealers have been thrilled with its ability. Many dealers have stated that the app has cut down on lengthy authentication processes and has been providing a great deal of comfort in knowing the precious metal bars are indeed what they have been presented as. The new technology has increased buyer confidence, leaving many excited for what the future of gold, silver, and platinum investing has to offer.
If you like this article, then you might enjoy other articles in our archives, such as 7 Tips For Surviving Your First Coin Show
Liberty Coin & Currency specializes in rare coins and currency. We are a family-owned business located in Portland and Vancouver. We are also gold, silver, diamond, currency and jewelry buyers. Visit us first for a free evaluation.