Buying gold jewelry is not the only option to save gold as your investment, but you can buy gold coins and make them a long-term investment. Sometimes you might think that gold coins do not contain real gold in it.
Your perception is wrong, but the fact is that investing in gold coins is way better than having gold jewelry. It is an excellent way to keep physical gold in the form of gold coins or bullions. The following tips will help you buy pure gold coins.
Check Out the Purity
There is no point in investing your money in the fake gold. Therefore, follow the legit way to measure the purity of your gold coins in the beginning. Fitness and karat measurement are the two most vital signs of having the gold pure.
24 karat is the ideal measurement of gold that contains 24/24 gold parts. And 22KT gold means having 22 gold parts with two other pieces of metals to make the jewelry more durable. Since you are buying gold coins, buying the 24KT is what you need.
Fitness is measured as the weight of the gold in proportion to the impurities mixed with the gold. It is explained as units per 1,000. When the pure gold of 24KT is measured in fitness, it shows 999.9 parts in every thousand of purity.
Ensure Tamper Proof Packaging
It will help if you are looking for good packaging with tamper-proofing when buying gold coins. It is a security guard option that supports the delivery from potential damage, scams, and counterfeiting.
As you will save the coins for a long time, you should not open or tear the packaging even if you want to resell them. The tamper-proof packaging ensures the credibility and the legitimacy of the purity of your gold coins.
Hallmarking ensures you are not cheated or caught in fraudulence while buying gold. It is about the certification you get from the sellers in terms of gold or silver jewelry or coins. Hallmarking is used mostly for purchasing gold jewelry and coins of 22KT, 18Kt, and 14KT.
Options to Resell
When buying coins, make sure they have opportunities to resell in a higher amount. The gold coins you buy from a jeweler end up in a lower resale price when fetching to another jeweler.
It happens because the other jeweler does not pay for the making charge, profit margin, or administrative fees you had to pay to the first jeweler. So, make sure you know this fact before buying and search for an alternative option to it.
Know about the Making Charges
Gold coins do not require a lot of making charge compared to the gold jewelry. You can also buy the purest form of gold within a lower charge. So, know that it might take only about 8-16 percent of making charges when buying coins from a jeweler.