Article: Test gold with a magnet. Gold does not have magnetic properties. Test gold with a fine steel file. Gold is easy to file, but the file will bounce off of other metals. Purchase acids for testing. Follow the instructions on the package to test the gold for genuineness, testing in an inconspicuous spot to prevent visible damage. You can find the daily market prices of gold on many brokerage websites. You will need to purchase a jeweler’s scale that weighs gold according to pennyweight (1/12 of a troy ounce) rather than simply weighing gold in grams. Many customers are happy to sell their gold jewelry and coins to a respectable dealer. Many dealers at a trade show will give a price break to someone who is just getting started in the business. Large volume purchases tend to have a lower price per ounce.
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Learn to test the quality of gold. Follow market prices. Obtain a scale. Buy gold from customers. Purchase gold at trade shows. Purchase gold in large volumes.