Frequently Asked Questions
- What testing equipment do you utilize for DUX Bullion Testing?
-
We have acquired and customized the equipment and necessary regulatory permits to operate X-ray spectrometers, ultrasound readers with different aperture probes (for coins and bars), as well as trade approved scales, including highly accurate electromagnetic force compensation scales. We also use the Electrical Conductivity methodology in which a Precious Metal Verifier is used to measure the bulk metal in a bullion bar or coin. As for the Precious Metal Verifier, it is able to detect counterfeit precious metals coins and bars and it is able to generate reading through plating and surface features to test the interior in the coins and bars.
- Have you tested gold plated bars with DUX?
-
Before launching DUX we have tested the system on a gold plated tungsten bar to validate our testing processes. We are very pleased with the results as gold plated tungsten bars have failed all three DUX tests with the ultrasound test being the most obvious.
During the months preceding the launch of DUX Bullion Testing, we were able to demonstrate the process on genuine and gold plated tungsten test bars to several mints and major bullion dealers as well as an LBMA Referee and have consistently received praise and approval of these processes.
- I have a bullion bar with no serial code. How is this bar matched with the test results?
-
Tested bullion is marked with a Tamper Proof Label (TPL) which references the test result ID. The TPL ID is in turn specified on the Test Report for cross referencing and redundancy purposes. The TPL is a custom label that is attached to the bullion during testing which invalidates itself upon removal by leaving “VOID” marks across the label. Test report data will also be retrievable online in the near future so that the TPL on the bullion can be keyed in to review test results. This means that there is no need to rely on printed test results as the online check is quick and easy. This is also a strong form of security against the possibility of somebody forging printed test results.
- What if somebody fabricates a fake DUX Bullion Testing report which looks like yours?
-
While the printed report itself can be forged, the result it references via our website is secured. You can verify test results directly from our online database at from here. If you find that online data is not matching to a printed test result please contact us at [email protected] and we will pursue the matter.
- How can I ensure the purity of bullion?
-
If you buy physical silver or gold for investment purposes then you should buy well known “branded” bullion as it is much more liquid once you want to sell them and the company behind the bullion guarantees its purity.
“Branded” in this context means bullion that was cast either by a well known government mint or a major foundry. Such “branded” bullion is safe because these foundries have been in the business for a long time, sometimes hundreds of years, and have independent assay processes in place. In addition, these mints sell so much bullion that many third parties conduct random assays on their bullion.
Branded bullion pretty much eliminates purity concerns due to the high manufacturing standards but leaves open the possibility that the branded bullion is not genuine. If you are worried about such a scenario, consider a DUX Bullion Test which will give you an accurate surface composition report while the ultrasound scan will test for pure gold or silver.
- Can I have a certificate of authenticity or purity for my coins and bars?
-
Government mints such as the Royal Canadian Mint, United States Mint, The Perth Mint and Austrian Mint do not issue certificates for investment silver bullion coins or bars. Exceptions are gift items or special limited edition coins whose value includes a 'collectible' or numismatic factor beyond bullion value and sell individually for a much higher premium. This is a different market segment altogether.
Investment bullion coins are certificates in themselves as they either state “9999 Fine Silver” (Maple Leafs), “Fine Silver” (American Eagles or the German equivalent of “FeinSilber” in case of the Austrian Mint), or “999 Plata Pura” (Pure Silver in Spanish, on the Mexican Libertad coins). “Fine Silver” is defined as .999 Purity.
The coins are also legal tender representing Canadian Dollars, US Dollars or Euros. Asking for an additional certificate of authenticity for these coins is akin to asking for a certificate of authenticity for the US dollar, Euro or our Singapore dollar notes. In the case of bars, the private mints are all brand name mints which have third party assayers and maintain product quality for their reputation.
Furthermore, a certificate of authenticity only makes sense if the item being certified is uniquely identifiable using a serial number that matches the certificate. Silver coins and small bars do not have serial numbers therefore a certificate could not be linked to the specific coins, making the certificate effectively meaningless. However you can have a DUX Test perfomed on your bullion and have it marked with a TPL (tamper proof label).
- If Silver Bullion Sdn Bhd buys bullion back, how do you know it is genuine?
-
Buybacks are DUX tested.
- How do you know your supplier bullion is genuine?
-
Quoting an officer from the Royal Canadian Mint, the best way to ensure authenticity is to buy from a reputable dealer. We are a primary distributor for The Perth Mint which in turn is owned by the Australian Government. We are also a direct distributor for the Central Bank of Mexico (Banco de Mexico). In addition, we purchase directly from LBMA Good Delivery refiners such as Metalor (Switzerland) and Nadir Metal (Turkey). For all other bullion we go through the largest American physical bullion distributors, one of which handles over half of the Royal Canadian Mint sales and more than 40% of US Mint sales. If there are any doubts we willl conduct a DUX Test.
- I read about acid tests on the Internet, are they reliable?
-
Acid tests are not really recommended as the test kits cannot be shipped by plane. They damage the silver or gold and they are quite ineffective as they just test the surface of a bar.
- How can I get sealed coins from mints?
-
Consider purchasing an unopened monster box that was sealed by the mint (500 coins per box). Besides receiving a sealed box, we give you a quantity discount when you purchase three of such boxes (Tier 2 at 1,500 ounces). You can open the box upon delivery or you can choose keep it in its sealed state.
Keep in mind however that Canadian Maple Leafs, American Silver Eagles and Vienna Philharmonics monster boxes do not utilize a tamper proof seal. Only Mexican Libertad coins - since late 2013 packaged in multiples of 450 - come with a proper tamper proof metal seal.