Talk about precious metals, and most people are interested in gold. After all, it is more like a liquid asset, and finding a buyer is never hard. Also, gold is universally acceptable as a currency and investment. If you intend to buy gold, either in form of coins or jewelry, it is advisable to do some initial homework and research. In this post, we have listed some of the aspects that matter for dealing in gold.
Get familiar with the terms
Gone are days when you would have to look for dealers. Today, you can find many dealers near your home with a single click on Google. However, before you start looking for options, you might want to get familiar with the metal. Karat refers to the purity of gold. 24-karat gold is 100% pure, but it is also very brittle, which is why it is not ideal for making jewelry. For jewelry, you can look for either 18-karat or 22-karat, depending on what you want to spend. In terms of color, yellow and white gold are traditional choices, but you can also buy rose gold, which contains parts of copper. There is also something known as green gold, which is more expensive as it also contains silver. With gold, it is better to buy what’s practical for you. For example, if you are buying jewelry for regular wear, 18-karat works best.
Beware of fake dealers
Despite all the regulations, there are plenty of fake gold dealers out there, and you need to be careful. A good dealer has the necessary permissions and licenses and is experienced enough. When you visit such a dealer, you will get all the essential information that you require. Right from understanding the hallmark markings and other details to knowing the best choice for your investment, you will have the expertise at hand. Also, if you are buying something expensive, always check and verify your purchase in person. In some cases, additional warranties might be applicable, and it is always better to work with a dealer who deals in precious metals regularly and will buy back the gold, if you need money at some point of time.
Consider your investment goals and find a good gold dealer now. Before placing an order, check all the things as listed above and ask questions related to the product. With gold coins, you are likely to enjoy better liquidity.