Tips for Scrap gold buyers pickers FAKES Red Flag - stories

well I've had a lot of requests recently for what I would call a red flag a video and that is I've had dealers and buyers asking and what I watch for when I have somebody just bring something in off the street and you know what what makes me take a second look at something and and I've normally got a lot of scrap to sort through some parcels that came in today but well the first thing you can can look at it is color you know is that is the color what it should be a plated piece of brass will have a certain Sheen to it a plated piece of stainless steel will have a certain Sheen to it other plated metals have a different tone or sheen or glisten to them and so that's one thing I look at right off the bat I can look at that from from a distance then the next thing is it's just Joe Joe public coming in with a you know couple wedding bands or whatever you know that he would would commonly have then if I see a file mark on an item well that's that's a big red flag you know if you see a file mark on something well you know there's a good chance you want to get your asset out and give it out if a kid who's 20 years old brings in a bracelet of that magnitude in 14 carat you know I'm I'm gonna be wondering what's he doing with because this is something that you know someone in their in their 50s might commonly have as or older as opposed to a young person having something that elaborate you know it doesn't matter what gold price was you know that's an expensive piece and so you want to watch that and that that's as much as anything that is a guard yourself against stolen goods type of advice so for people just getting into this you know you want to keep some some crap around you know and just study it or as you're out picking or as people bring things and you want to educate yourself educate yourself through experience deeply as possible and and compare weights you know if you have a piece uh you know a ring that is no good you know compare the weight of that ring to another ring and then compare the weight of a say a 10 carat ring to the weight of an 18 carat gold ring now just recently I seen some one of my buyers brought in a couple of fakes and they were I mean they were old they were made back at turn-of-the-century they they could have been as old as as 1880 but they were somewhere between 1880 and say 1930 because they had the very old type 18-karat stamping which is basically a a square depression with the raised 18 carat inside and these were extremely heavy rings and he told me and then they had been filed and they told me that he thought they were no good and I looked at the market and I said well that would be a first and I checked them and yeah sure enough you know I don't think they had any gold content and and what you'll find is is people will bring these in and they will look very good because they might put them on a buffing wheel and polish it up you know you can make brass look very much like gold if you give it a good buck so you know that's something to look for if you're you're looking at an old piece and it's way too bright and shiny looking well you know maybe somebody has buff that for things that are out of the ordinary look for weight problems you know I would strongly recommend that you know you see something you think it's not quite right you know go off on a tangent and start doing everything you can to not get burnt on that item one of my favorite is as I smell it I smell almost everything that comes in and so because gold has no smell and you know if you if you do get a smell off of something you're you've probably got a problem brass has a very distinctive smell and there's no way to get away with your loop you can look at a gold item let's say you you get a chain in and its marked 14 karat but it looks like someone has worn it quite quite a lot we you separate one of the links and what you want to do is look in here where the wear is gonna be and you want to inspect that with your loop because you're going to find that you know if it's a plated item or something other than gold you're gonna have a color change in the wear spot and you will never see a color change in the wear spot on a piece of gold because it's the same color all the way through you know in that item right off the bat doesn't quite have the right color of of what a gold item should be so that would throw up a flag and I would test that item pretty extensively it definitely has lolly times people asked me what to pay for diamonds well diamonds for the past ten years have just gotten more and more and more dollars a gram or something on this here I'm gonna pay him that for the diamonds I may not pay him any extra now years back I used to pay extra for diamonds but when you're paying for the diamonds right along with the gold weight you know you're gonna be lucky to break even as old it was eleven point eight carats of small diamonds on eBay and they ranged anywhere from one pointers up to I think the largest one was a maybe a fourteen point but most of them were in that three three point range three to five point range three to seven and they brought two hundred eighty three dollars and there was at least 11 carats of a be --scent small system that's a crazy crazy cheap price to to get out of diamonds or to sell them for tell you the truth I wish I had kept them because I would have used them to to teach people and shoot I could have give him away and had more satisfaction out of it that that's all the tips I got for you today I hope that's helpful and I'll see you again real soon

Channel: ScrapGoldExpert

Views: 34,853

Keywords: Tips, Scrap, gold, buyers, pickers, FAKES, Red, Flags, items, Learn, look, weights, smell, taste, old, school, field, silver, 14K

Id: NV0VGXLdUgw

Length: 8min 13sec (493 seconds)

Published: Wed Jan 26 2011