| Buy Gold? The Basics. Just because a title says "18ct Gold" does not mean that it truly is that. It may mean plated. Ask about any stamping or hallmark. Online, ask for a picture of the hallmarks.
10kt (or 10ct) means 10 carat gold. This is the minimum in the US. Gold items are usually sold as 9, 18ct, 24ct in the UK. 22ct is used in india. 24ct is pure gold. Pure gold is soft, so one usually buys an alloy so it won't wear. Make sure that the stamps the seller says the item has, are genuine markings.
9ct is rubbish, as it's more base-metal than gold. It can tarnish. 18ct is more valuable, and durable. 22ct is edging into 'maybe too soft for normal usage' i.e. in jewellry. A carat is 1/24th. So 9ct is 9/24 = 3/8th purity. Not so hot! About cheap deals: If you are not sure, DON'T BUY! If the price seems too good to be true, then it probably is!
With the increase in gold prices, more fakes are being sold. To buy a real gold sovereign can cost at least £80 GBP at the time of writing.
For sovereigns: Get an up-to-date copy of Coins of England, published by Spink. This lists the most common fakes but it does not list all of them.
Get a scale. Get a calculator.
If you want to buy gold coins by mail order: Get a high resolution photo from the vendor and blow it up in a photo editor. You should also ask whether the coin has been polished or mounted as this may to bullion-only value. You can sometimes see where one side of the coin is more worn than the other, or the edge is very smooth, or there are regular marks around the edge of the coin.
You can protect yourself by looking at photos of the same coin from different sellers on eBay.com. This reveals the fakes.
If you start to buy gold coins, have coins against which you can compare your new purchases.
Finally, do not ever buy coins from Chinese sellers on eBay. Guaranteed to be fakes. Same for German coins. Unless you're an expert yourself, stick with Sovereigns, Krugerrands and American Eagles, and even then, research what the real thing should look like, and weigh. Alway buy from a reputable source. Don't let greed rule your buying decisions. Gold has intrinsic value. Everyone knows this. Even a doltish seller would find out its true value, before offering it for sale. If it seems cheap, find out why.
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