I've never opened the vials, but according to the jeweler, gold flake, gold leaf, it's all the same in the way value is obtained. They quoted me a price on each of the vials I had (5 of them) & they pretty much said gold leaf or gold flake is real gold, it just takes a lot of it to equal an ounce. They quoted me a price of $15-$20 per vial. They were busy that day and didn't have time to purchase it from me, so I put it up for auction on here.