Meteorites are rocks that once were part of planets or large asteroids, and usually contain a great amount of extra‐terrestrial iron. Nowadays, the meteorite business is booming and the demand is increasing all over the world, whereas supply (originating especially from Morocco and Algeria) is limited. Thus, specimens presented as meteorites often turn out to be common Earth rocks or old smelter and castoff iron dubbed as a ‘meteor‐wrong’. In the present study, a compact handheld instrument based on fast‐response multi‐elemental analysis technique, i.e., laser induced breakdown spectroscopy (LIBS), has been used to identify specific major elements (Ni and Co) and trace elements (Ga and Ir), in order to discriminate a certified iron meteorite with respect to a suspected meteorite fragment and a pig iron product. Furthermore, a calibration freeLIBS method has been used to quantify the main elements Fe, Ni and Co in the iron meteorite and Fe, Mn, Si and Ti in the other two fragments.