A magnetic flowmeter (20) is provided including a magnetic flowtube (22) arranged to receive a flow of process fluid. The magnetic flowtube (22) includes a drive coil (26) and at least one sense electrode (30, 32). Measurement circuitry (154) is coupled to the flowtube (22) and is configured to provide a drive signal to the drive coil (26) and measure flow of process fluid (21) through the flow tube (22) based upon an output from the sense electrode (30, 32). A memory (204) contains a stored value (222) related to a nominal parameter of the flowtube. Verification circuitry (200) is arranged to measure a parameter of the magnetic flowtube (22) and responsively provide a verification output (210) related to operation of the magnetic flowmeter (22) based upon a comparison of the measured parameter and the stored value.