The Best Ways to Buy Gold for Investing

While The Gold Standard specializes in buying old gold jewelry, we’re always happy to pass along some good advice! If you’re interested in investing in gold, here’s some useful information below

You may have heard the phrase, “all that glitters is gold.”  While this sentiment may not necessarily be true, it is accurate that the price of gold is at a rare high, which means investors are definitely biting.  The price of gold hasn’t been this high in at least a quarter of a century, so if you’re thinking of investing in this precious metal, now is the time.  Everyone is looking for a way to get cash for gold, so it is a great market.

Investing in gold is an interesting way to diversify your portfolio and make a little money.  It is also a good way to protect yourself against the decline of the dollar and impending inflation.  The thing about investing in gold is that you can own it in several different forms.  While some forms are riskier than others, gold can be a sound investment when done right.  Here are some things to consider when buying gold for investment purposes.

Jewelry

If you are considering buying jewelry as an investment, you should probably stop right there.  Buy gold jewelry because you like it, not to secure your future financial status.  Remember, you pay a premium for gold jewelry based on the design and craftsmanship, not just for the metal itself.  Additionally, most gold jewelry is 14k or 18k, which are less pure than the investment grade of 24k.

Coins and Bullion

Gold coins and bullion are definitely a way to go when it comes to investing.  However, because we seem to be in the middle of a modern-day gold rush, there are plenty of scammers out there looking to make a buck.  Be sure to do a lot of research before investing in coins and bullion.  Make sure that you check out the U.S. Mint’s list of authorized dealers to be on the safe side.  Remember, there is a difference in value between gold coins that are valued for collectors and bullion gold coins.

Stocks

As an investor, you probably already know that stocks are an investment in a public company.  If you choose to invest in gold stocks, you are investing in a gold mining company.  It is important to keep in mind that gold mining stocks can often be more volatile than other exchange-traded funds, so be careful!  Always do research on the mining company before buying stock.

Exchange-Traded Funds

Speaking of exchange-traded funds, buying and selling gold bullion can often be just like the stock market.  Because gold carries concerns regarding authenticity and purity in addition to storage and insurance, exchange-traded funds are ideal.  You get to own authentic, pure gold without having to worry about protecting or storing it.

Mutual Funds

If you are a do-it-yourself investor, mutual funds may be your best bet when it comes to investing in gold.  It is a safe alternative to the options mentioned above.  Mutual fund may include gold but combine the investment with other commodities so that all your eggs aren’t in one basket.  This is a really safe bet.

Image: digitalart / FreeDigitalPhotos.net

...readmore

Buy Gold…Digital Gold

It is getting near the holiday season and it can be seen that the option to buy gold is being praised by jewelers and stock brokers. It is the time of the year where stores are offering discounts and incentives to buy gold.  This will appeal to many people but some people still may not like the idea of buying gold, at least in the physical form.  That is where the gold Exchange-Traded Funds (ETF) comes into play.

This option allows people to buy gold as a mutual fund, which tracks the actual price and value of gold. Gold ETF equates to 1 gm of gold. These may be purchased or traded online. But you probably want to know what is in it for you investing in Gold ETF’s? First it is easier to keep track of then owning actual physical gold. Also you can take a loan off of your ETF, which is more convenient, then doing it off of a physical gold. Finally security is less of an issue, as you will not need a safe or any other containment for your ETF, other than a computer. If there are pros than surely there must be cons to this process, and of course there are. ETF’s are really only well established if you are looking for a long-term investment due to fluctuations in gold prices. Also there are fund management charges like any other mutual fund product.

So now you know that buying gold does not necessarily have to be in the physical form. If you want to do the Scrooge McDuck swan dive into a valley of gold (which I do not recommend, REMEMBER GOLD IS A SOLID) you have that option. But now you have the option of swan diving into a data pool of gold!

 

 

 

 

...readmore

Cash for Gold and The Wonderful World of Gold

Gold is a wonderful and magnificent metal.  Gold has been around for thousands of years and has had practical applications other than people being able to get cash for gold.  Although the ability to get cash for gold is nice, there are some other things that gold can do that are innovative and exciting.

Medicine

You can get some cash for gold to get that medication you need, or you can just take 2 gold and call me in the morning. Gold has been considered a form of healing even as far back as the medieval times. The idea during those times is something that is beautiful and brightly colored has to be beneficial to ones health. Injected gold has been determined to help to reduce pain and swelling of rheumatoid arthritis and tuberculosis.

 

 

 

 

 

 

 

 

 

 

Food & Drink

You could use your cash for gold to get yourself a tasty treat or a nice drink, or you could just eat the gold yourself. Ever wondered what gold tasted like? You may have eaten food that contains some form of gold in it. Some gourmet foods as well as liquors contain gold flakes in them. In fact gold has its own E number (food additive number), which is 175.

 

 

 

 

 

 

 

 

 

Electronics

Gold is a huge conductor of electricity and is used in many wiring for high-energy applications. It is rare to have pure gold wiring, but you will most likely find gold on the edge of connectors or printed circuit boards due to its ability to not be tarnished by the heat of electricity.

 

 

 

 

 

 

 

 

 

 

 

Gold has so many practical uses and it is amazing to think how old this substance really is. So as you are getting your cash for gold by going to Gold Standards you can ponder over the many uses that gold can be used for.

...readmore

Selling Diamonds? Know Their Value

Selling diamonds that you own can sometimes be a hard decision. They may have been a family heirloom passed down from generation to generation, a gift from a person you cared about, or you may have just found it. Whatever the reason, sometimes you need to get some extra money.  When selling diamonds it is critically important to understand how to determine the value of the diamond. Most jewelers will tell you the value straight up, and some may give you a lowball rate for them. Here is how you can determine the value of your diamonds yourself. Read the rest of this entry »

...readmore

All That Glitters Is Not Gold

You might have heard the phrase, “all that glitters is not gold”. It isn’t clear where exactly that phrase originated, but what is clear is that a truer phrase was never spoken. Many items that you think would be extremely valuable, appearing to be real and solid gold, turn out to be anything but. Gold jewelry, rings, watches, and other gold items might simply be gold plated, which makes them not very valuable. Another important thing to note is that even if a gold item does actually contain a significant amount of gold, that gold may vary dramatically in quality from piece to piece.

Read the rest of this entry »

...readmore

All I Want For Christmas…is Cash!

Maybe you’re really looking forward to Christmas: time with friends and family, great food, gifts, and just the general holiday good cheer. But maybe this year you’re a little stressed about money as you approach the Christmas season, wondering where you’re going to come up with the extra cash you need for presents and travel. We want you to know that unlike other businesses, who are out to take your money this holiday season, we’re the opposite: we’re here to give you cash!

Read the rest of this entry »

...readmore

Sell Diamonds For Cash: Extra Money for the Holidays

...readmore

Selling Your Gold – Don’t Get Ripped Off!

Today’s gold market may be described as the next big gold rush, and for good reason! With the price of gold being at its highest in years, many people are cashing in at a desirable rate. However, with this anticipated traffic comes a higher risk of swindle. Just taking your gold coins or jewelry to a pawnshop or jewelry store doesn’t necessarily guarantee a big pay off.  In fact, a lot of pawn shops are in the gold buying business temporarily, taking advantage of the spike in the gold market. These appraisers are in the business to make a profit, and may not be honest about the true value of your treasures.

Instead of blindly selling gold to the closest jewelry store and most likely getting ripped off, do your homework! You can abide by a few simple steps to make sure you realize the potential value of your gold pieces. These tips will help you sell your jewelry at the highest possible pay out!

Compare Prices: Like anything else you buy or sell, comparing prices is the best way to find the ballpark value of your gold. Getting a second and even a third opinion from a certified appraiser will allow you to see the difference in the quotes given. If they vary wildly, you may find it possible that one or more of the brokers may be hiding the true value of your jewelry. You may also want to work with an appraiser who determines the price of your item on its own merit and doesn’t simply quote you a set percentage.

Check the Ratings: It may seem easy to over look this tip, but it makes all the difference and it’s relatively easy. Before you decide to sell your gold, contact the Better Business Bureau about some of the local pawnshops, gold buying stores and jewelry stores in your area. The BBB can give you ratings and alert you about anything suspicious about the performance of the store in question. They can also give you an idea of how long the store has been in business and whether any complaints have been filed.

Question Their Method: Gold selling may seem like a science, but doing your research can give you a better understanding of how appraisers rate the value of your prized possessions. Some dealers may even weigh different karats together, which can devalue your items. In essence, they combine your jewels and give you the lowest karat value. Others determine the pay out by gram as opposed to ounces, which can also skew the value.

Simply stated, when you’re looking around for an appraisal, make sure you find one that is trustworthy. The Better Business Bureau suggests finding a local shop that you trust to sell your gold, perhaps a reputable jewelry store. If anything, you want to be sure to find a licensed appraiser. Working with pawnbrokers will certainly guarantee that you won’t be as susceptible to a scam. The one downside to that is they will know the real worth of your valuables and may give you even less payout than a broker with less knowledge.

Educating yourself on the rules of the game and the terms of service when it comes to selling your jewelry will ultimately guard you against becoming a scam victim. With so many gold buyers out there these days that are looking to make a quick buck, you can very well lose your valuables at a fraction of their true value. So stay sharp and ask around. The power of knowledge is something that you can literally bank on when it comes to selling your jewelry.

 

Author Bio: Kristina is an author of all things gold. She loves writing about topics in the gold market as well as selling jewelry.

 

...readmore

Gold Sale Scammer Uses Google Maps to Find Victims

A gold sale scammer who will soon sit before a judge revealed his secrets in an ABC news report recently and the things he said were very frightening. The scammer conned fourteen hundred people out of tens of millions of dollars by using the recent rise in gold sales to convince them to invest in his fake company. The most terrifying part though was that he used Google Maps to do it.

In today’s society, the internet has made large amounts of personal information easily accessible to the public. This is a good thing when you’ve forgotten your friend’s phone number or you need to get to directions someone’s house, but there is a dark truth to this information age. That information is also available to criminals who can use it to steal from you without your knowledge. Campany, the gold sale scammer, searched Google Maps for houses that looked large and connected those addresses to phone numbers that he then called to ‘sell gold stock’. There is a reason that people made such a big deal about Facebook selling their personal information to companies. The information age makes it easy to find information about almost anyone.

I recently sold an item on Amazon. The item was a somewhat child marketed video game that was bought from me by a middle aged woman. I needed to contact her, but I didn’t know if she was buying it for her son or for herself and I didn’t want to offend her in my email so I put her name into Google and found her facebook page. I scanned through her pictures and saw that she had a young son, which proved my theory that she wasn’t buying it for herself. I began typing the email to her and realized how creepy that whole situation was. Just from having her name, I was able to find out what she looked like, where she lived, and what her son looked like.

While I’m sure there are lots of legitimate gold sale outlets, the gold sale scammer has done a lot of damage. He has been caught, but the money he stole is still gone. What do you think? Is there too much personal information available on the internet? Is there some way to fix it without inhibiting its convenience? Sound off in the comments!

Image Courtesy of Ken Teegardin/Some Rights Reserved

...readmore

Gold Jewelry: Now from a Vending Machine!

Remember when you were a kid and you dumped a bunch of quarters into a vending machine to try to get that exact piece of plastic jewelry that was advertised on the front of the machine? Remember when you wish you could use a credit card to get real jewelry made with gold, diamonds, or silver from vending machines at ridiculous prices? I sure do, and the Gitanjali Group in India has finally made that dream come true.

Apparently, companies have been selling extravagant vending machines that dispense gold bars and gems for several years without my knowledge, but it wasn’t until recently until that it was taken a step farther. The Gitanjali Group has just unveiled the first ever jewelry dispensing ‘ATM’ as a tribute to the growing economic success of India. Diamond, silver, and gold jewelry at prices from $20 – $610 are dispensed from the machine as are bars of gold and silver, like in the machines it is based on. Customers select the product they want from a touch screen and pay with a credit or debit card.  But wait until you hear why the company built the machine.

The company stated that the machines are of special significance to people of the Indian culture because the people of India get their loved ones jewelry to observe traditions on special days. This is, of course, not true for people in other countries who get their loved ones wet noodles on special occasions.  However, the company also stated that the machines have jewelry available for men who forget their wife’s birthday or anniversary, which is the icing on the cake. Imagine coming home to your wife on her birthday and giving her a gold chain that you got from a vending machine at the mall on the way back from work. What a great husband you are. Jerk.

The next logical step can only be the inclusion of Happy Meals in the deal. ‘Are you hungry AND a bad husband? Well now we have a solution for that!’ Anyways, I’m sure there are tons of people out there who think these machines are a wonderful idea. Interested in selling gold jewelry in Merrick, NY? Feel free to sound off in the comments below.  What do you think about the jewelry dispensing machine?

Image courtesy of calflier001/Some Rights Reserved

...readmore