If you’ve recently inherited a collection of old coins, you might wonder if they’re authentic. While real gold coins and bullion can fetch a high price, others are ornamental and not worth much. To help you evaluate the collection’s true value, here are a few tips for recognizing real gold coins. 

3 Tips for Identifying an Authentic Gold Coin

1. Weigh The Coins

Authentic 24-karat gold coins are typically designed to weigh one troy ounce apiece, while counterfeit coins made with alloys may be lighter or heavier. Troy ounces are slightly more than normal ounces, equating to 1.09714286 standard ounces.

You can order a special coin scale that measures weight in troy ounces, or use a digital kitchen scale to weigh your old coins. Always weigh the coins individually when determining authenticity. 

2. Inspect the Coins Carefully 

Professionally minted coins should be free of spelling errors, improper kerning, thickness inconsistencies, and strike marks. Inspect your old coins with a magnifying glass and handheld light. Look for wording that wouldn’t be included on an authentic minted coin, such as “COPY.” Inconsistent lettering or spelling mistakes are other indicators of counterfeit coins. 

3. Check for Magnetism 

Nickel, iron, steel, and aluminum are often used in counterfeit coin production, and they’re magnetic. Get a strong rare-earth magnet from a hobby shop and use it to test your coins at home. Gold coins won’t respond to the magnet. 

If you’re wondering about the worth of your old coins, turn to the professional appraisers at Hawaiian Islands Stamp & Coin in Honolulu. Since their inception in 1973, these experts have helped customers buy and sell gold, silver, paper money, and Hawaiian coins. With their experience and dedication, the coin shop is trusted by banks, government agencies, and careful collectors alike. Check out some of their inventory on their website, or call (808) 531-6251 to make an appointment.