Selling gold jewelry has become a popular way to gain extra cash these days, but gold in other forms reaps just as high of a return, if not more. Though gold investments for Syosset, NY gold buyers require a bit more industry knowledge than simply acquiring a valuable ring or necklace, there is plenty of cash to go around. Because gold is sold for its scrap value, which is most likely melted down to make coins or bullion, the artisan value is just a bonus feature. It likely has no effect on the overall value of the piece. Besides, it’s a bit harder for people to sell gold jewelry that has some sentimental value that a gold coin or bullion may not have.
These tips of the trade, and many more, are not always open knowledge for new investors. And these days selling gold jewelry has become a more conservative venture for investors than real estate or stocks. So if you’re ready to get into the gold buying business in New York, know what you need to be working with the get the highest rate of return. According to Syosset gold buyers, here are the top three types of investment gold to make part of your business venture.
Bullion and investment trade gold is the best type of gold to have on hand for investments. Though not the highest treasured commodity, bullion still give a moderate return over time. Gold buyers of Syosset, New York recommend that this type of investment gold make up between 25-30% of gold assets. The most common forms of bullion include the St. Gaudens and the American Eagles.
St. Gaudens – Named for its designer, Augustus Saint Gaudens, the coin was minted in 1907 and again in 1911 under Teddy Roosevelt’s presidency. Because of its beauty and coveted “High Relief” of Lady Liberty, the coin is believed to be the highest sought-after collector’s coin on the market. This coin alone sells for thousands of dollars above its pure gold price.
American Eagles – Minted since 1986, American Eagle coins have been produced in gold, silver and platinum. They are considered to be the leading bullion coin in The United States and also feature the Walking Liberty design.
Mint State Gold
Minted coins like the Liberty and Indian Head are valued for investment because of their high payout. Mint state gold gives a higher rate of return than bullion, but still takes time to mature. It’s recommended to have between 15-20% of mint state gold as part of your gold investment.
Indian Head Coins – Also called Buffalo Nickels, these coins were first minted in 1913. Though they don’t contain gold or silver, their return rate doesn’t fluctuate as much. What makes them most valuable is their rare mint dates, variety, and condition.
Because of their high commodity, rare coins receive the highest rate of return. However, the nature of the investment requires aggressive acquisition. Gold buyers who come across rare coins offer high payouts, but it is still a long-term investment game. It’s recommended to possess between 50-60% of rare coins as part of a worthwhile investment. Finding coins that are especially high in demand only increases the return amount.
Photo courtesy: Carlos Porto