Gold and Y2K: 1)non-event, 2) intermediate term , or 3)meltdown scenarios.
Let us start with the basics.
First of all...
To deal in gold, one has acquire certain basic knowledge and lingo.
Basic Knowledge:
Locations of Gold.
Characteristics of Gold.
Weighing of Gold.
Colors of Gold.
Testing of Gold
Wholesale and Retail value of gold.
Probably the hardest 3 areas of knowledge for the US consumer is:
Testing
Weighing
Buying and selling in the wholesale/retail world of gold.
In testing:
there are only and I do mean ONLY 4 ways,
time tested,
scientifically reliable,
methods of testing gold.
I.)Fire Assay
II.)X-Ray such as FBI does and some other sophisticated labs
III.)Chemical test
IV.)Color Test
Let's take them in reverse order from the easiest and least expensive to learn approach.
IV. Color Test
It is easy to learn,
portable
and can be used covertly or overtly!!
FWIW, One can be easily fooled by so-called tests here in the USA and globally if proper instruction is NOT received!!!
Primarily a national biz "requirement" in nation of India:
In the nation of India, color testing is a state licensed skill, required of all gold buyers who have retail locations.
Said applicants are required to pass visual color of gold tests before state examiners before being allowed to advertise to buy gold in their retail locations. So, color testing is a serious endeavor and an acquirable skill.
In Y2K 1)non event,
2)intermediate term event,
3)meltdown event,
CONCLUSION: This Color Method is quick and effective
and will be useful as a skill for the rest of your life.
I've taught many people the color testing method.
Src of color testing instruction, tool & samples:
worldaccessnet.com
*****
II. Chemical Gold Testing of Gold AND Silver
Chemical Testing is the second easiest, and second least expensive way learned way of testing for gold & silver content has been around for a long time.
The chemicals are for adults, safe if used sparingly, and normal handwashing or wiping on a facial tissue after application is sufficient for handlers. Most often, a chemical test is the one you may have seen applied to your piece of gold or silver if you ever were a seller.
Housed in Plastic Bottles with tight fitting caps, and applied by a glass rod dropper onto item to be tested, reliable results by reading the reaction of chemical on test items,
are available in seconds for both Gold and Silver, and visible to both buyer and seller.
Depending how often you use the chemical test solution in the test kit, 2 oz should last for approximately 90 days. Easy to reorder, it could save one costly phoney gold buys; an immediate investment payback.
Usally the seller of such Chemical Test Kits is also a source for gold purchases and gold sales.
CONCLUSION: II. Chemical Test Method is quick and effective
and will be useful as a skill for the rest of your life.
I've taught thousands of people the chemical testing method in the last 11 years.
Src of chemical test kit:
worldaccessnet.com
*****
III. X-Ray Testing in Y2K non event, intermediate term, or meltdown.
X-Ray equipment only available to mining companies and those seeking authentication of genuine or counterfeit items. Only administered by experts, seeking to determine purity.
Personally, I've never have had to use it. Do patronize a lab who has had assay work test results examined by FBI X-Ray and passed w/flying colors. Yes, 4 of 7 samples came back 100%, theoretically impossible, but still in writing. That lab tech is Good enough for me to use! Impractical in real life, day to day applications.
Probably not available to the common person, and would expect the cost to be exhorbitant.
CONCLUSION: X-Ray examination is available but impractical and cost prohibitive in normal situations during Y2K non-event, intermediate term, or meltdown.
I.)Fire Assay in Y2K non-event, intermediate term or meltdown scenarios
This is THEEEEE oldest form of gold and silver testing known to man.
It has been around since before the bronze age, frankly, it is so widely acknowledged. It can be expensive, if required by both buyer and seller prior to a transaction.
As with any expense, most inexperienced parties prefer to conduct business in publically hallmarked w/purity stamp(fineness percentage) items, such as nationally issued coins and commercially refined bars by the Engelhards, A-Mark, Johnson & Matthey refiners of the world.
However, shade tree assayers DO exist and their cut rate prices run $20 per test.
Reputable labs charge more & said costs are NOT prohibitive, usually ranging in the under $50 per fire assay category, but it is well worth it if buying or selling large quantities from unknown sources.
Most of us in the gold trade will buy placer gold (alluvial or elluvial placer)i.e., gold that has migrated by erosion from the hardrock vein source, without requiring an assay. Usually we discount the price back of spot to take care of any errors in color test judgement we might make on fresh out of the creek/riverbed dirty ore, and have it refined in bulk later, getting the assay done at our cost, at that time.
An color visual illustration of the scientific process Fire Assay process, which is a metallurgical skill of no small value. It is rather complicated to master, as metallurgical training via the Colorado School Of Mines is a 4 year course of study before certification. Of course, not all labs have this certification, and that lack of certification is not nearly as valuable as a word of mouth referral to a good reputable lab.
Srcs for viewing assay process is available at:
worldaccessnet.com
worldaccessnet.com
FWIW, the business of assaying/refining is covered in my Kit as well, so that one need not be taken advantage of when pursuing this path of metallurgical verification of gold, silver, platinum, palladium, rhodium, ruthenium, etc., etc., etc.
CONCLUSION: FIRE ASSAY*** in Y2K non-event, intermediate term, meltdown:
1)Y2K non-event:, it will be a resource for income diversification when opportunities to pick up inexpensive gold during hysteria phase, when less informed part with their gold.
2)Intermediate term:
a reusable referral resource for purchase of verifiable resources, as counterfeiting will take off as a major cottage industry.
3)Meltdown:
will be an absolute necessity to have MULTIPLE trusted assay sources as their services will be in much demand and backlogs will jam the calendar, leaving Y2K investor vulnerable.
In closing...let me address the weighing of gold issue briefly:
WEIGHING OF GOLD: by both Seller and Buyer:
Gold is weighed in grains, pennyweight, grams and Troy.
All of us in the gold business do the math the same way, and let the customer dictate which of the above 4 they are comfortable with.
Inexpensive balance scales are available...from $10 up,
Expensive triple beam balance scales are available...from $150 & up
electronic scales are available...around $200 that weigh in Troy and pennyweight...
In the event of Y2K:
1)Non-event: you'll have an expensive rather non-portable postage scale, which you can Schedule C it for its full expense and move on...
2)Intermediate term: you'll still have an expensive rather non-portable postage scale, which will still qualify for Schedule C but will have a longer time frame in which to recoup your cost.
3)Meltdown: You'll be glad you own one or two or three, the more portable the better, and stock up on batteries if you are getting a digital readout type.
In a meltdown, more people than ever will be bartering/buying in gold/silver of many forms! If you can't weigh it before you sell it and they can't weigh it when they buy it, then you won't have a meeting of the minds, required for all business transactions, and you'll go bread-less, fuel-less, shoe-less, clothes-less, until you can find someone w/what you need and you can experience "meeting of the mind."
The language of gold is simple...
Identification,
testing,
weighing,
buying/selling.
Hope this helps.
***PS...When talking about assaying...I will not give any validity to the popular spectrographic analysis of gold. I refuse to use it, or buy from anyone who does. |
