How to Spot Fake Bullion: 7 Red Flags Every Buyer Must Know
If you don’t know how to spot fake bullion, you’re gambling with your money. Counterfeit gold bars, silver coins, and even platinum rounds are flooding the market — some so sophisticated they fool experienced dealers. In 2025, with record demand and supply shortages, scammers are more active than ever.
At Metal Bullion, we’ve helped thousands of buyers learn how to spot fake bullion before it’s too late. In this guide, you’ll discover the 7 critical red flags every buyer must know — and exactly how to verify authenticity before you buy.
You’ll learn:
- The 7 physical, visual, and behavioral red flags of counterfeit bullion
- How to test weight, dimensions, and magnetism like a pro
- Which products are most commonly faked — and how to avoid them
- Why sealed assay bars (like PAMP Suisse or Argor Heraeus KineBars) are your safest bet
- Where to buy with confidence — and where to never shop
Let’s turn you into a counterfeit-detecting expert — so you never get scammed again.
Red Flag #1: Price Too Good to Be True — The #1 Sign You Can’t Spot Fake Bullion
The most common way buyers fail to spot fake bullion? They ignore price. If a 1 oz Gold Eagle is $100 under spot, it’s fake. If a 100 oz Silver Bar is priced like a 10 oz, it’s a scam.
Why Scammers Use This Tactic: Greed overrides logic. Buyers think they’re getting a “deal” — until they receive tungsten-filled bars or silver-plated lead.
How to Protect Yourself:
- Always compare prices at trusted dealers like Metal Bullion, APMEX, or JM Bullion.
- Check live spot prices at Kitco or the LBMA.
- Avoid eBay, Facebook Marketplace, and unknown websites offering “limited-time discounts.”
Real-World Example: A fake 100 oz Engelhard Silver Bar sold for 30% under spot. Real ones are only 5–7% over spot.
Red Flag #2: No Sealed Assay Packaging — Critical for Those Who Spot Fake Bullion
Reputable refiners like PAMP Suisse, Valcambi, and Argor Heraeus seal their bars in tamper-proof assay cards with matching serial numbers. If a bar isn’t sealed — or the seal is broken — you can’t fully spot fake bullion without professional testing.
What to Look For:
- Intact Seal: No cuts, tears, or resealing.
- Matching Serial Numbers: Bar and card must match exactly.
- Holograms or Security Features: Argor Heraeus KineBars have holographic Kinegrams®.
Safe Picks for Buyers Learning to Spot Fake Bullion:
- 1 oz PAMP Suisse Lady Fortuna Gold Bar (In Assay)
- 100 x 1g Valcambi Gold CombiBar™ (In Assay)
- 1 oz Argor Heraeus KineBar Gold Bar
Red Flag #3: Wrong Weight or Dimensions — A Must-Know for Anyone Who Spots Fake Bullion
Counterfeiters often get weight or dimensions wrong. A real 1 oz Silver Eagle weighs 31.103 grams and is 40.6 mm in diameter. Fakes may be 30.5g or 39mm.
How to Test:
- Digital Scale: Must measure to 0.01g precision. Cost: ~$20 on Amazon.
- Calipers: Measure thickness and diameter. Real American Gold Eagles are 2.87mm thick.
- Specific Gravity Test: For advanced buyers — measures density to detect tungsten cores.
Common Fakes & Their Errors:
- Fake Silver Eagles: Wrong reeding (should be 150+ ridges), off-weight.
- Fake Krugerrands: Incorrect relief, wrong alloy (should be 22k, not 24k).
- Fake Engelhard Bars: Wrong logo font, incorrect weight stamp.
Red Flag #4: Magnetic — The Instant Test to Spot Fake Bullion
Gold, silver, platinum, and palladium are NOT magnetic. If a “gold” bar sticks to a magnet, it’s fake (likely steel or iron core).
How to Test:
- Use a strong neodymium magnet (N52 grade).
- Hold it near the bar/coin — no attraction should occur.
- Even a slight pull means it’s counterfeit.
Exception: Rhodium can be slightly magnetic due to nickel alloys — but pure rhodium (PAMP Suisse Rhodium Bar) should not attract strongly.
Pro Tip: Keep a magnet in your bullion testing kit. It’s the fastest, cheapest way to spot fake bullion.
Red Flag #5: Poor Craftsmanship — Details Matter When You Spot Fake Bullion
Government mints and LBMA refiners have precision machinery. Fakes often show:
- Blurry or Misaligned Logos: PAMP Suisse’s “Lady Fortuna” should be sharp.
- Incorrect Fonts or Spacing: “ENGELHARD” on fake bars often has wrong letter spacing.
- Rough Edges or Casting Seams: Real minted bars have clean, sharp edges.
- Wrong Finish: Proof coins (Germania Gold Proof) should be mirror-like — not matte.
Compare to Authentic Images:
- U.S. Mint’s official images: usmint.gov
- PCGS CoinFacts: pcgs.com
- Refinery catalogs (PAMP, Valcambi)
Red Flag #6: No Refinery or Mint Mark — A Giant Warning Sign to Spot Fake Bullion
Every legitimate bar or coin has a refinery or mint mark. No mark = huge red flag.
What to Look For:
- Gold Bars: “PAMP,” “Valcambi,” “Credit Suisse,” “Argor Heraeus”
- Silver Eagles: Mint mark under eagle’s tail (“W,” “P,” “S”)
- Maple Leafs: Royal Canadian Mint logo (a maple leaf with “RCM”)
Common Fake Targets:
- PAMP Suisse Bars — fakes often miss the “SUISSE” stamp
- Canadian Maple Leafs — fakes lack radial lines or micro-engraved privy marks
- Engelhard Bars — fakes have blurry “E” logo or wrong weight format
Red Flag #7: Seller Avoids Verification or Returns — The Final Test to Spot Fake Bullion
Reputable dealers encourage verification. Scammers avoid it.
Warning Signs:
- “All sales final” — no returns, even for unopened items.
- No phone number or physical address.
- Refuses to provide assay certificates or high-resolution photos.
- Pressures you to “act now” — classic scam tactic.
Safe Dealer Practices (Like Metal Bullion):
- 30-day returns on unopened/assay-sealed items
- Live customer service (phone, email, chat)
- Transparent product photos and specifications
- Buyback program with fair rates
How to Spot Fake Bullion: Your 2025 Verification Checklist
Before you buy — or after you receive — run through this checklist:
- ✅ Price within 5–20% of spot (depending on product)
- ✅ Sealed in original assay packaging (if applicable)
- ✅ Weight and dimensions match official specs
- ✅ No magnetic attraction
- ✅ Sharp, correct logos and mint/refinery marks
- ✅ Seller offers returns and has verifiable contact info
- ✅ Third-party grading (PCGS/NGC) for rare coins like 1876 Indian Head Gold Dollar
Top 3 Safest Products for Buyers Learning to Spot Fake Bullion
- The Sealed Starter:
1 oz PAMP Suisse Lady Fortuna Gold Bar (In Assay)
Why: Tamper-proof assay card, globally recognized, easy to verify. - The Fractional Safety Net:
100 x 1g Valcambi Gold CombiBar™ (In Assay)
Why: Each segment is sealed and numbered. Break one to test — rest remain protected. - The Government Guarantee:
2023 American Gold Eagle BU or Silver Eagle Tube
Why: U.S. Mint-backed. Easy to resell and verify via weight, size, and design.
What Experts Say About Counterfeit Bullion in 2025
- U.S. Mint: “Buy only from authorized dealers. Verify weight, diameter, and edge reeding.” (usmint.gov)
- PCGS (Professional Coin Grading Service): “Counterfeit gold bars with tungsten cores are increasing. Always test weight and density.”
- LBMA (London Bullion Market Association): “Only buy bars from LBMA-approved refiners. Verify serial numbers against assay cards.” (lbma.org.uk)
Where to Report Fake Bullion — Protect Other Buyers
If you’ve been scammed:
- File a Complaint: With the Better Business Bureau or FTC.
- Report to Mint/Refinery: U.S. Mint, PAMP Suisse, etc., track counterfeits.
- Warn the Community: Post on Reddit (r/Gold, r/Silverbugs) with photos (blur serial numbers).
Ready to Buy with Confidence? Start Here
Don’t risk your wealth. Buy from a dealer that makes it easy to spot fake bullion.
👉 Shop Sealed, Assay-Backed Bullion
→ Start with: PAMP Suisse Gold Bar
👉 Explore Government-Minted Coins
→ Start with: American Gold Eagle
👉 Browse Beginner-Safe Bundles
→ Start with: Multigram Portfolio
Have questions? Our bullion specialists are standing by at support@metalbullion.store or 1-800-SPOT-FAKE.







