$20,000 Lost on Carousell: Why You Should Always Test Before You Buy Gold

Published by BuyGold.sg | Gold Testing Services, Singapore
www.buygold.sg/gold-testing-services

Real Case: The 2024 Carousell Fake Gold Coin Scam

In early 2024, a Singaporean investor was scammed out of S$20,000 after purchasing what he thought were genuine 1oz 24K gold coins from sellers on Carousell. The coins looked perfect — sealed, weight-matched, and stamped with markings resembling official mints.

But when he tried to sell the coins to a licensed gold dealer, they failed both XRF and density tests. Internally, they were made of brass with a thin layer of gold plating — virtually worthless.

Three suspects were later arrested after multiple victims came forward with similar experiences.

Why Visual Inspection Is NOT Enough

Gold scammers today use advanced tools to mimic:

LBMA-stamped coins
Correct weight and dimensions
Even plastic seals and barcodes

But what they can’t fake are the scientific readings from professional XRF analyzers and density machines.

How BuyGold.sg Prevents This

At BuyGold.sg, our Gold Testing Services use a Thermo Scientific™ XL2 XRF Analyzer, the same equipment trusted by customs and refiners worldwide.

✅ Detects actual gold content (karat/purity)
✅ Finds fake cores (e.g., tungsten, brass, lead)
✅ Works on coins, bars, jewellery & scrap
✅ Non-destructive, no damage to your item
✅ Option to test in your presence — full transparency

Combo Testing = 100% Confidence

We also offer density testing to detect weight discrepancies that XRF alone may not fully confirm in fake bars or sealed coins.

Example:
A fake 1oz coin that weighs 31.1g but has the wrong density is often filled with brass or lead — a red flag even if it looks perfect on the surface.

Real Case from Our Customer

“ A customer brought in gold jewellery inherited from her elderly parent. It looked authentic, but after testing with our XRF analyzer, we confirmed it had zero gold content — it was merely gold plated. She was shocked, but grateful she didn’t try to sell it without verifying first. ”
— Verified Client Case, BuyGold.sg Testing Services (Client identity withheld for privacy.)

Don’t Be a Victim

Before buying gold from any marketplace, private seller, or online platform, test it at BuyGold.sg first.

Buy gold in Singapore with confidence at BuyGold.sg. All our pre-owned gold jewellery, bars, and coins are professionally tested using XRF and PMV Pro equipment to ensure authenticity and protect you from scams.

Visit us at Woodlands 11
Instant testing, instant results
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