Are Gold Coins Magnetic?

By GovMint :

No. Pure gold coins, such as those made from 24-karat gold, are not magnetic. Gold is a non-ferrous metal, meaning it does not contain iron and, therefore, does not exhibit magnetic properties. This characteristic is often used as a simple test to help verify the authenticity of gold coins. If a coin is attracted to a magnet, it likely contains other metals or is not made of pure gold.

However, it's important to note that some gold coins are alloyed with small amounts of other metals, like copper or silver, to increase their durability. These alloys are also typically non-magnetic, so the presence of magnetism would still be a red flag.

Sources Used:

https://www.quicktest.co.uk/blogs/testing-precious-metals/testing-precious-metals-with-magnets