How to Differentiate Between Real and Fake Silver
Silver is a safe choice when it comes to investing in precious metals. It’s cheaper than gold, and it still gets you good money in the long run. The fluctuating value of paper money in the world has more and more people look toward investments in precious metals as a viable retirement plan.
While a good option, it’s always accompanied by doubts and suspicions. One of these doubts is regarding the authenticity of the metal you’re investing in.
Is the silver coin you’re buying real or has it simply been plated and are you now deceived?
Let’s find out.
First Things First: Silver’s Hard to Fake
Silver is a natural metal that comes with unique properties. While it’s fairly hard to completely fake silver, you still have to be sure you haven’t been hoodwinked. This you can easily do by understanding the physical and chemical properties of silver.
- Silver is very soft
- Silver isn’t malleable enough to form into bars
- Investment silver is 99% silver at best—the remaining is some other metal, which helps keep the silver coin shapely. Sterling silver, for example, is 92.5% pure silver.
Did you know that silver melts ice? Even if it’s at room temperature, silver will melt an ice cube that’s placed on it. We suggest you take two ice cubes from the same tray. Place one on a silver coin and the other on a different metal. Real silver will cause the ice to melt rapidly.
Silver sings. Find a different metal that’s non-abrasive and soft, and strike it gently against the silver coin. You should hear a “ping” which will indicate that your silver is real.
Silver isn’t magnetic. When frauds try and fake silver, they have to coat the metal with others to achieve silver’s shine. When you bring a magnet near fake silver, it will stick to the magnet, belying its false nature. However, you’ll need a fairly powerful magnet—and definitely not refrigerator magnets.
Markings are serial numbers, weight, and other specific information engraved onto bars and coins. Bullions for investment will always have markings for you to see, and this will tell you that the silver you’re looking at is real silver indeed.
Interested in Buying Silver?
A precious metals investment company with more than 50 years of experience in the market, Orion Metal Exchange is your go-to silver buying platform. Whether you need an individual retirement account for silver investment or are simply looking to buy some, we’ve got you covered. Check out our free investment kit or get in touch with us for more information.