Are you investing in gold coins for the first time? If yes, we are here sharing important points with you so that you can make an informed purchase.
Purity of the gold coin
Before you go investing your money in gold coins, it is in your interest to know how to know the purity of gold. The purity of gold is measured in caratage and fineness. Caratage is the measurement of the purity of gold when it gets mingled with other metals. 24k is considered the purest form of gold, with no other metal mixed with it. If you look for 22k gold for sale, it will contain 22 parts of gold and two parts of other metals like copper or silver. The minimum permitted carat of gold for sale varies from country to country. Besides caratage, fineness is another way of measuring the purity of gold. It measures the content of gold in parts per thousand. When the purity of gold is stamped on gold in terms of fineness, it doesn’t include decimal points. If you want to buy the purest form of gold, it doesn’t get available in jewelry but you can get it in gold coins.
Weight of the gold coin
You should also get the weight of the gold coin checked before you bring one home. Gold coins are available in the range of 0.5 to 100g weight. You can purchase based on your preference and their availability near you. If you want to invest a small amount in gold coins, then you can consider buying guineas which are 1g, 2 g, 4g or, 8g coins.
If you buy gold coins, you will have to provide less making charges as compared to the jewelry. The jewelry charges depend upon the craftsmanship and make the jewelry more costly than a gold coin. So, if you want to invest in the purest form of gold in lessor price than you have to pay for the jewelry, you should consider buying a gold coin for saving and growing your money.
When you purchase a gold coin, it is a good idea to ask the seller for the proper invoice containing details about the current price of the gold, making charges, karat, weight so that you can have evidence of legal ownership of your investment.
Ease of selling
Also, you should try buying gold coins from certified jewelers or online stores and ask them if they can purchase them in the future. Also, you have to keep in mind that when you sell your gold coins in the market, you will only get the current price of the gold but will not receive back the making charges, administrative fees, and profit margins that you paid at the time of your purchase.
Investing in gold coins is a good option to save your present money and grow it for the future. Before you go buying a gold coin for yourself, you can take care of the above-mentioned things so that you can make an informed purchase.