People have been buying and selling gold for centuries. The curiosity about gold has been growing in recent years and more people are turning to gold as an investment. There is so much information about gold and investing in it that it might be perplexing for most people. There are different ways you can own gold.
Jewellery
The easiest way that most people don’t think about is owning gold jewellery. Gold jewellery is common in certain cultures. A lot of well-known gold jewellers stamp their creations with hallmarks that bear the specific karat value of the gold used to make a specific piece. This hallmark is usually found on a discrete area of the jewellery. It could be 10, 14 or 18Karats. When buying very expensive jewellery, you should make sure that you get a certificate of authenticity.
The main advantage of jewellery is that it is cheaper to buy and you can enjoy owning it by wearing it. It has monetary value and can attain a certain status of heritage when passed down from generation to generation. In cultures like the Indian culture, gold has a specific meaning and has an emotional significance. The attachment is so strong that gold usually is the last thing to leave the house when there are financial difficulties even if there is a lot to be profited from the sale of gold jewellery.
When you buy gold jewellery keep its investment value in mind and choose a quality item with a high karat value. The purest gold is 24K, but this is too soft to be used in the making of gold jewellery. You will find 18K to be the highest purity in the jewellery market but you can still get 22-Karat gold jewellery. This is rare and expensive.
Yellow gold is popular but you can get gold in other colours like Rose, white and even green.
Gold Bullion Bars
A lot of gold investors buy the precious metal in the form of bars. You can buy gold Bullion bars from certified gold dealers. Gold bullion bars come in a variety of shapes and sizes to meet the needs of different customers. Gold bullion bars are made from the purest gold. They are made with 24K or 99.99% pure gold Liquidating gold bars may be tough. It is not convenient for smaller transactions.
Gold Bullion Coins
Compared to gold bullion bars, gold bullion coins are more convenient to own because they are more portable, easier to store and easier to sell. They are probably the best choice: compared to jewellery and gold bullion bars, gold bullion coins are more convenient to own in terms of portability, ease of storage and size.
Small investors will find them ideal. They can be purchased from any gold dealer. When you buy gold bullion coins or gold bars make sure you get the certificate of authentication that indicates the quality of what you are buying. You should also make sure that they are sold in a tamper-proof container to prevent any damage.
When investing in gold, you should be aware that gold on its own does not provide any dividends or regular investment like shares. It is important to know your gold and to understand what you expect by investing in gold.