A Helpful Guide on the Best Ways to Buy Gold Jewelry
It is important in life to understand and know how to buy gold jewelry. If you want to learn more about this, you should check out this guide.
What if you could invest in something that never loses value?
Gold is one of the best and safest investments that anyone can make. And buying jewelry is one of the easiest ways for you to start buying gold.
Wondering how to buy gold jewelry and grow your investment? Keep reading to discover our complete guide!
Purity: It Really Matters
You may think you know nothing about the relative purity of gold. However, chances are you have heard about the vocabulary of purity your whole life.
For example, 24 karat gold is the purest gold you can possibly get. It is the most valuable, but this gold is also too soft to be used as certain kinds of jewelry.
Because of that, many types of jewelry are actually 18 karat gold or even 10 karat gold. These pieces may hold less overall value than 24 karat pieces, but their general sturdiness may help you find someone to sell them to (assuming you are trying to "flip" your purchase).
Purity vs. Practicality
Earlier, we mentioned how certain types of jewelry are more suited to 24 karat than others. This mostly comes down to how the jewelry is going to be used.
For example, a 24 karat gold necklace is generally safe to wear. Once the necklace is around someone's neck, it is unlikely to come into contact with any hard surfaces.
However, a 24 karat ring is a very dangerous piece of jewelry. Think about all of the times your hand bumps into walls and other hard surfaces. This can lead to a golden ring that is scratched and warped, greatly diminishing its overall value.
More Than Skin Deep
You might think that everything called "gold" is referring to the same thing. However, it's important to pay special attention to whether the jewelry is mostly gold or only partially gold.
Certain kinds of jewelry may be described as "gold-filled." This is pretty self-explanatory: some kind of alloy covers the surface of the piece while the inside is filled with valuable gold. Many buyers like these pieces because the external alloy protects the gold from potential damage.
"Gold plated" is the opposite of hold filled. This is jewelry that is primarily composed of some non-gold alloy. Meanwhile, the surface of it has been dipped into gold to create a valuable and shiny appearance. While these pieces are beautiful and flashy, they hold less actual valuable because they hold less actual gold.
Special European Meanings
If you start to get serious about buying gold jewelry, you will eventually encounter European pieces. Before that happens, it's important that you understand some special European meanings.
European gold may be marked with a number such as "750." This is like a percentage: it describes 18 karat gold because such pieces are 75% pure.
Similarly, 14 karat gold is marked 585 in Europe and 10 karat gold is marked 517. This system is pretty easy to learn and master, and it allows you to become an international gold shopper practically overnight.
Many Different Colors
Many of us imagine gold as a color and not just a material. This is ironic, though, because gold comes in many different colors based on other alloys that may be mixed in.
One of the most striking colors is rose gold. This dazzling color occurs when copper is mixed with gold, creating a kind of faint pink shade.
White gold is very striking and fashionable. Such a shade is created by mixing nickel or palladium into the gold mixture.
Green gold is very unexpected and impressive. It comes from mixing in silver with gold. Because silver is a valuable alloy in and of itself, green gold is especially expensive.
We mostly think of yellow gold as being purer than other colors. However, yellow gold often still contains impurities that may impact its overall value.
Gold Dealers: Do Your Research
When it comes to buying gold, you may get lucky with the occasional in-town find or online auction site. Eventually, though, you'll need to deal with a gold dealer.
Finding the right dealer is a bit of a gamble. You can go with the big names such as Tiffany or Cartier because they are reliable. However, that reliability comes at a cost.
If you're trying to save a few bucks, you can try to find independent dealers. The only downside to this approach is that you will need to personally verify that they are reputable and trustworthy.
Check the dealer's credentials and certifications. And be sure to compare similar items to discover the fairest price for what you are seeking.
Vermeil Gold: Something Special
Earlier, we talked about the process of gold plated jewelry. In this process, just about any material can be dipped into molten gold to create a shiny piece of jewelry.
There is a special version of such gold plated jewelry known as vermeil gold. With vermeil, the base material that has been covered in sterling silver.
One reason why many prefer vermeil gold is that it offers relative sturdiness and value. Additionally, those who are allergic to precious metals can safely wear vermeil gold wherever they go.
Buy Gold Jewelry: Which Kind Is Best for Me?
That brings us to the big question: which kind of jewelry is best for you to invest in? The answer depends on what you intend to do with the jewelry.
If you intend to keep the jewelry yourself for its pure value, then 24 karat gold is the best bet. Other valuable types of gold include gold filled jewelry or green gold.
If you intend to sell the jewelry to someone, you may want to focus on 18 karat gold or vermeil gold. These forms of gold are sturdier than others and easier to wear, increasing their resale value for the right customers.
Not All That Glitters
Now you know how to buy gold jewelry like a pro. But do you know how to properly diversify your investments?
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