Gold is among the precious metals group. With that, it is important to know its material properties. This 'Is Gold Magnetic?' article will help you understand if it can attract gold or not.
Additionally, we will be tackling the implications if the gold you is magnetic. Moreover, should you be worried if the gold you bought attracts metal?
Without further ado, let us start this 'Is Gold Magnetic?' article.
Why Is Gold Valuable?
Precious metals have been a part of human civilization since the earliest of times. Particularly, gold and silver were the ones that held the most weight.
They evolved into the foundation of power and prosperity. Furthermore, they serve as the main drivers of trade and commerce. Finally, many people use them as jewelry and adornments.
Aside from these aspects, many people are interested in gold because of its ability to act as an investment. Individual retirement accounts (IRAs) in gold are becoming more popular as a result.
To further clarify, a self-directed IRA that focuses on employing precious metals like gold and silver as assets is known as a gold IRA. In comparison, it has its similarities and differences to other IRA types.
Listed below are some of the characteristics on why gold is valuable and is a great asset to have in your portfolio.
- Reliable Hedge Against Inflation
- Ease of Management
- Ability to be Liquidated Easily
- Great Way to Diversify Portfolio
Material Properties of Gold
Undeniably, gold's purpose is that of investments and jewelries. Focusing on the latter, a big chunk of gold is utilized to create rings, necklaces, bracelets, etc.
As such, it is essential that the gold must have the correct material properties and characteristics. Here are some of the things you need to know about real and authentic gold.
- Good conductor of heat and electricity
- Highly reflective of heat and light
- Ductile (can be stretched to thinner sizes and lengths)
- Malleable (can be flattened into thin sheets)
Also, real gold is measured in troy ounces. When mixed with other alloys, it is expressed in karats to illustrate the percentage of pure gold present.
For its numerous chemical properties, you can refer to this website.
If you are looking for real gold, be careful not to fall for any scams! Purchase only from a reliable bullion dealer such as Goldco.
Should Gold Be Magnetic?
To answer, pure gold should not stick to a magnet. However, as mentioned above, it may stick to a magnet if it has alloys or any other substance mixed with it.
As an example, a gold alloy will stick to a magnet if it has a considerable portion of atoms replaced by other materials. Moreover, at certain circumstances, this alloy may magnetize all on its own.
Should you purchase gold in different karats, do not fret if it does or does not attract magnets. Remember, the resulting attraction will depend on the material combined with gold.
Pure gold is hard to come by, and even harder to be purchased at a legitimate seller. But, it does not mean it is impossible! Goldco is a legitimate and reputable dealer of pure gold.
Now, we will be listing all the possible implications of your gold being magnetic or not. First, we will tackling the scenario of your gold not being attracted to magnets.
To start, pure gold will not attract magnets at all. So, you can be assured that your gold is the real thing. Contrary to popular belief, this is not the only implication behind that.
Some metals or substance added to gold may not attract magnets, such as aluminum, copper, bronze, lead, tin, etc. The best thing to do is to ask your dealer what materials are added to your gold.
Second, the scenario of your gold attracting magnets. This is quite a simple predicament since you will be certain that your gold is not pure. Again, it is better to ask for your seller to educate you about the content of your jewelry.
To further explain, jewelry makers add other materials to compensate for the gold's malleability. Most of the time, your jewelry will have a smidge of other materials to prevent bending or scratching.
To put it simply, pure gold is not magnetic. Thus, this 'Is Gold Magnetic?' article will be concluded with a resounding no. However, there are some things you need to keep in mind.
First, although your gold is not magnetic, there is a strong possibility that it is combined with other metals that are not magnetic. In cases of jewelry, this is done to prevent the jewelry from unnecessary bending and scratching.
Second, if your gold attracts magnets, you will be assured that your gold is mixed with other materials. Keep in mind, gold mixed with other materials are measured in karats. On the other hand, pure gold is measured in troy ounces.
Lastly, if you want to avoid falling for scams from bogus sellers and dealers, I suggest purchasing from a top-rated company. Goldco is more than willing to assist you in any of your gold needs!
To conclude, I extend my gratitude and appreciation to you for reading this 'Is Gold Magnetic?' article of mine. Any suggestions or comments can be written in the appropriate section below.