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Counterfeit gold on the Internet. Low-priced dirt jewelery floods sales groups on social media, NOVA viewers report. Counterfeit jewelry is very actively offered during the pandemic, and fraud is becoming more prevalent with rising gold prices. Also, jewelry is among the most popular gifts under the Christmas tree. How to avoid counterfeits? Georgi Georgiev reviewed the topic in the “On your side” section.
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Counterfeit jewelry is mainly sold on social media. The most common abuses are related to offering products with lower purity of gold and even replacing it with a completely different material, which sometimes reduces the value of the ring or bracelet.
We show the offers of the professional goldsmith Dimitar Alexiev. With 50 years of experience in the trade, it is difficult to confuse the original with the counterfeit. According to him, this is a classic scam in which, attracted by the low prices, customers buy jewelry of unclear composition and quality.
The industry has also seen an increase in attempts to sell counterfeit gold jewelry in recent months. With the rise in the price of gold and the exchange of trading on the Internet, fraudulent offers are more and more, warns currency and gold trader Martin Milanov.
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To avoid counterfeiting, experts recommend carefully monitoring merchants, even those selling online. Each of them must be registered and the jewels must be accompanied by a quality certificate.
Gold bar and coin fraud is also growing significantly, traders warn. Recognition of forgeries is mainly based on external characteristics, since the detailed images and inscriptions of the original can hardly be repeated.
See more on the subject in the video.
We look forward to your signals and topic suggestions in the email and on the Facebook page of the “On Your Side” section.
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