Photo credit by Snrang
We associate gold most closely with money. If someone has a real gold necklace, we assume they have money, or that the person that gave it to them has money. Buying gold jewelry used to be common place. Valentine’s Day, birthdays, or anniversaries were all call for jewelry for that special someone. Now because of our economic struggle, only very wealthy people are still buying gold jewelry.
You don’t have to be rich to purchase gold jewelry. Most jewelry stores offer credit options so that you can buy the piece you want and pay later. You can have almost any credit score and most jewelry stores will give you the jewelry on credit.
Some of the benefits of investing in gold jewelry is that you can transport it very easily if you are wearing the piece. You can go from country to country with your gold and you won’t have to worry about it getting lost if it has been stored in your luggage. You will also always know where your gold is because you are wearing it.
When investing in gold jewelry, you will need to keep in mind the karat size. The higher the karat size, the more gold is in your jewelry. 18 karat gold is actually 75% gold and 24 karat is 99.99% gold. For investment purposes, 12 to 14 karat gold is considered a good investment. 24 karat is preferred because it contains more gold.
You must also keep in mind what type of piece you are buying; if you buy a 24 karat gold ring that you wear normally it can wear thin because it is exposed to hard surfaces and everyday wear and tear. A 24 karat gold necklace is a better investment because it is more protected; a gold broach is an even better gold investment and can be 24 karat gold.
When purchasing your gold jewelry new, make sure that the jeweler has a good reputation. Some jewelers are known to sell only quality pieces and you should purchase from them. If you are looking for older gold pieces, start looking within your family. Some older pieces can be worth far more than new pieces because they may be antiques or heirlooms. Keeping grandma’s old gold jewelry just might pay off in the end.
You don’t have to buy your gold jewelry, and you can make it yourself. If you want to do this you will need gold bullion. There are many different jewelers that will do this for you, but again, you will only want to deal with a reputable jeweler. Making your own gold jewelry as an investment is a good idea because you can have direct input on the design. Also, make sure you draw up a contract with the jeweler to make sure you both understand the terms and agreements. After your gold jewelry is made, take it to another jeweler to have it examined to make sure it is the karat that the jeweler told you it would be.
Investing in gold jewelry is a great idea when done correctly; it is easy to transport, looks good, and you can sell it if you need the cash. Almost everyone at some time is looking for a piece of gold jewelry so you will almost never have any problem finding someone to buy your piece.