Was over at a buddies house trying to educate myself on gold, coins and bullions. He just started buying silver rounds and wanted to learn a little so I brought over my small rare earth magnet to test his silver. I decided to try it on his gold coins to see how it would react. He has 1 1oz gold maple leaf and 1 1oz gold american eagle. I used the magnet the same way I use it in checking my silver bullions I have collected. I was surprised when the magnet reacted the same on his gold maple as it does on silver. A slow steady fall when held at an angle. When I tried it on the eagle, it barely slowed at all. It seems strange. He said that being 24k and more pure that is why the magnet reacted more on the maple then the eagle. Not dealing with gold I wasn't sure the reason or if it is correct. I also noticed that the maple was more yellow then the eagle, but that is to be expected I guess. Any thoughts??
If you look where gold and silver are on the periodic table it's no surprise that they react similar. They're supposed to based on their properties. Also the maple I think is .9999 fine while the eagle is .9123 or something like that so that's probably why the maple is more yellow.
Gold has been thought of as having diamagnetic properties, but under extremely strong fields ( well beyond any outside of specific research facilities) it has been shown to have some paramagnetism also. This article explains it fairy well, and there are definitions at the bottom. However, describing the actual effects would in the field of a quantum physicist or chemists. http://www.spring8.or.jp/en/news_publications/press_release/2012/120123_2 But I don't think the small amount of additional purity would cause this effect. If the color is off, it reminds me of a maple leaf shown to me by a gold bullion shop that was made of bright brass and not gold at all. It was brought in by a 'snow bird' from Toronto. Specific gravity testing or accurate weighing, measurements would help detect if it was false. IMO.
Thanks everyone. I won't be able to get over to his house until later this coming week. Going to bring my scale and see if I can also get a density on the coin. It certainly did not feel like brass and had a noticeable soft feel to it compared to his eagle. Interesting to say the least. Thanks.
Don't get diamagnetism, paramagnetism, and common ferromagnetism confused. Gold is not ferromagnetic.
I have no idea of the magnetic property of these two metals. However, you get the certificate of purity with every coin, which is the best way to know it. _____________________ Where Should I Buy Gold Coins
It seems everyone is hinting around, but I guess I will be the one to spell it out. A strong rare earth magnet should slide slowly down a silver or gold coin. If it slides quick or sticks most likely that coin is a fake.
Hey, I observed the same result on my eagle and maple. I bought my krugarrand from Apmex and it shows no resistance at all to magnet. My 1987 Gold eagle also shows no resistance whatsoever when I slided the magnet down. However, my maple leave and other 999 pure gold bar show some resistance. The weight and dimesions are all correct. The eagle also has a long last nice ping sound. Can some one please try it on their eagle or krugarrand and get back to us?
Have you tried it on a gold eagle? Or krug? Coz it shows no resistance at all on my ealge and krug. Bought them from Apmex...
Hey. Same result on my eagle...it slides right down. Same with my krugarrand. Bought the krugarrand on Apmex and the eagle from a bank. Maple leave and 999 gold bars all show resistance. So...Apmex selling fake gold coins?
I am wrong. A strong magnet does not react to gold in any way. On real silver or clad coins it slides slowly.
I was thinking I always heard people using magnets on silver, not gold......thats why you buy from reputable sources.
Not sure if my magnet is rare earth or not, it was pretty strong. It does show some slowing down on all the 999 pure gold bars and coins I have. However, no slowing down at all on gold alloy 22karat ones like Eagles and krugs. I bought them all from reputable sources such as Apmex and Government Banks. I dont know the physical reason behind it.
You should really spend the $20-30 it would cost to obtain a digital scale and graduated cylinder to complete very simple specific gravity testing if your worried about authenticity. As I stated in the other thread all a magnet is good for with gold is a very quick in no way accurate test of whether it sticks to the item in question or not. In which case if it does stick you can reasonably conclude the item isn't real gold or very low purity. The magnet slide test is more compatible with silver than it is with gold although both have diagmagnetic properties; the effects present are greater with silver. Gold http://periodictable.com/Elements/079/data.html Silver http://periodictable.com/Elements/047/data.html To accurately test gold determining density is the way to go. It's really simple and easy once you've done it a couple times. For anyone that has spent the money to own gold; I'd recommend spending the $30 it would cost to be able to quickly, accurately and easily test your precious metals using this method.
You can test for specific gravity without the necessary measurement of volume which can be difficult with good precision by using the formula. SG = Weight of coin in air Weight of coin in air - weight of coin in water Here is a simple setup to do with a weight table in air, and one below the surface to get a quick specific gravity. The more precision your scale has, the higher precision ( accuracy ) of your SG measurement. http://www.mineralab.com/Scale.htm
