A magnetic flowmeter is provided including a magnetic flowtube arranged to receive a flow of process fluid. The magnetic flowtube includes a drive coil and at least one sense electrode. Measurement circuitry is coupled to the flowtube and is configured to provide a drive signal to the drive coil and measure flow of process fluid through the flow tube based upon an output from the sense electrode. A memory contains a stored value related to a nominal parameter of the flowtube. Verification circuitry is arranged to measure a parameter of the magnetic flowtube and responsively provide a verification output related to operation of the magnetic flowmeter based upon a comparison of the measured parameter and the stored value.