Gold has been used as an investment for times immemorial. Metal is considered a lucrative investment due to its consistent price growth. We all have seen shiny and beautiful gold ornaments being purchased not only for their aesthetic value but also for the high returns they bring.
However, buying gold jewelry has its concerns. Intricate jewelry requires craftsmanship which can add to its cost in the form of high making charges. Also, there is a considerable advertisement cost spent on promoting these ornaments. Somehow these charges also find their way into your bill.
A better alternative is to purchase gold coins on sale. Gold coins offer an amazing opportunity for investing your cash. However, you need to be careful when buying gold coins to avoid fraud sellers.
Here are five things that you must look for when buying gold coins.
1. Price
To get the maximum value from your investment, you need to secure such investment at a low cost. The gold prices depend on the karat of gold you are purchasing.
24 karat gold has the highest value and maximum resale potential. Hence, they are the best option for investment in gold coins, followed by 22 karat gold coins for sale.
However, the price of gold coins also includes a premium charged by the seller. Hence, before making a purchase you should ask for quotes from different sellers to get the best possible price.
2. Seller
There are numerous sellers of gold coins in the market. Also, you can find them for sale on online platforms. However, gold coins are a high-value investment, and you should excise caution when looking for gold coins.
Before you make your purchase of gold coins, you need to find a reliable seller. Also, the terms and conditions for sale should be transparent.
Make sure to ask for an itemized bill of your purchases that specifies the price of the metal, its quantity, and purity. Also, additional charges like making charges and taxes should be separately disclosed to avoid any confusion.
3. Purity
The purity of Gold Coins on Sale is an important determinant. 24 karat gold is the purest form of gold that contains only a meager amount of impurities. Most people invest in 22 karat gold coins which contain 22-part gold and 2 parts of other substances.
Gold is mixed with other alloys to make it suitable for making jewelry. Hence, it is difficult to find 24 karat gold jewelry but you can easily find them as coins.
The resell price of gold also depends on the karat of gold you have purchased. Hence, to get a better appreciation of value, you should invest in 24 karat gold coins.
4. Certification
Before you choose gold coins for sale, you should ensure that they are hallmarked. Hallmarks on the surface of the coin ensure the purity of gold.
There are so many fake products circulating in the market that it can confuse even the most experienced buyers. Hallmarks ensure that the product has been tested and certified.
In the USA, there is no official hallmarking agency. However, there are independent assaying agencies that ensure the purity and fineness of gold coins.
Before making a purchase, you should always ascertain the gold coin are certified.
5. Liquidity
Before picking Gold Coins on Sale, you should also check their weight. The coins can range from 0.5gm to 100 gm. Hence, it offers you a wide variety to select from.
Coins with smaller denominations offer high liquidity. However, the large-weight coins have a lesser premium per gm. Hence, depending on your budget and resale duration, you should invest in coins with the highest denomination.
These are some of the things that you should look for before buying gold coins on sale.