Before buying gold, it’s important to understand some of the particular the ins and outs that make gold unique:
Since the beginning of recorded history, gold has been a universal symbol of wealth. Because of its beauty and scarcity, ancient civilizations coveted the precious metal as a manifestation of status and power. Ornaments, jewelry, and early forms of money were all crafted from gold.
Many American investors prefer old coins, because they fear another government confiscation of gold and assume that collectible coins may again be exempt. The $5 Half Eagle and $10 Eagle are popular coins that are readily available from coin dealers. The $20 Double Eagle is probably the most recognizable and desirable of the early gold coins. One of the most striking is the Saint Gaudens, commissioned by President Theodore Roosevelt, and designed by famed sculptor Augustus Saint-Gaudens. Old coins minted by other countries, including Great Britain, South Africa, China, Spain, and Mexico, are also attractive collectibles.
Uncirculated gold coins are currently being minted by several countries. While they are all legal tender, they have a meltdown value that far exceeds their face value. Many numismatic (collectible) coins have market values that are even higher. Collectors are attracted by the potential for rising values, based on the rarity and demand of the coins they buy.
Bars are produced by several government mints, as well as private companies, such as Johnson Matthey, Wall Street Mint, Sunshine Minting, Credit-Suisse, Engelhard, and Produits-Artistiques de Métaux-Précieux (PAMP).
Liberty coins minted prior to 1933 were the only coins produced at all the seven U.S. mints in operation at that time. The minting of these coins ceased that year, when, in response to gold hoarding during the Great Depression, President Franklin Roosevelt signed an executive order calling in gold held by Americans, exempting only coins of recognized numismatic value.
Newly minted coins are easy to buy, and their purity is guaranteed by the government mints that produce them. Some popular choices are the American Eagle, Canadian Maple Leaf, South African Krugerrand, Vienna Philharmonic, Mexican Gold 50 Pesos, British Sovereign, Australian Kangaroo, and U.S. Mint 24K Gold Buffalo. Some of these coins are available in multiple sizes to accommodate both large and small investors. For example, the American Eagle is minted in weights ranging from 1/10 ounce up to one ounce.
While it’s true that, as the saying goes, ‘gold has never been worth zero’, there’s risk associated with every investment. Do your own research and prepare yourself for the price volatility of the commodities markets. Unless you’re an experienced trader, gold should be viewed as a long-term investment and safe haven for the future.
While many people think of bullion as the large bars held in Fort Knox, bullion actually refers to the stamped weight and fineness of gold. It can be in bar form, round like a coin, or of any other shape representing a tradable and practical size and form. The price of bullion typically includes the cost of the metal, plus the costs related to refining and shipping, as well as the dealer’s premium.
Gold is a desirable alternative for those looking to diversify their risk. Jewelry, bullion, gold-mining companies' stocks, and ETFs are some of the available investment vehicles.
Solitaire – Yellow Gold
Because 24K gold isn’t widely used for engagement rings, wedding bands and other jewelry, it’s hard to directly compare its price to 14K and 18K gold. Online jewelry vendors such as Blue Nile and James Allen do not offer 24K gold as a choice of metal for their settings.
While 24K gold is extremely valuable, it isn’t widely used for engagement rings. Because gold is such a soft metal, 24K gold bends and scratches easily, making it an impractical metal for a ring that you or your fiancé-to-be will wear daily.
Good settings include this timeless 18K yellow gold solitaire engagement ring or this gorgeous 18K white gold French cut pavé diamond engagement ring. These settings are both made from 18K gold, making them as pure as possible without being too easy to scratch.
Unlike 10K, 14K and 18K gold, which come in a wide range of colors, all 24K gold has the same bright, eye-catching orange-yellow appearance.
When it comes to engagement rings and other fine jewelry, gold is almost always the material of choice.
Gold comes in a variety of purity levels. These levels are categorized using the karat system — a system that measures the purity of gold used to produce jewelry based on the total gold content per 24 parts.
24K gold is 99.99% pure, meaning it contains no alloyed metals. There is no higher level of gold purity than 24K. In comparison, 18K gold is made up of 75% pure gold, while 14K and 10K gold contain 58.3% and 41.7% pure gold, respectively.
Education » 24K Gold: Price, Purity, Advantages & Disadvantages
Bottom Line Recommendation 24K gold is the purest type of gold available. Unlike 10K, 14K and 18K gold, which are all made from an alloy of gold and other