Looking into buying some gold?
hotmama asked:
I have some jewellery that is gold and I want to change it into some gold coins. Is this wise?
I believe I have about 10 ounces of gold in jewellery and if it is a good idea to buy gold coins, does anyone have any suggestions or any online guides where I can get the lastest to know about gold etc.
Thanks =D
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I have some jewellery that is gold and I want to change it into some gold coins. Is this wise?
I believe I have about 10 ounces of gold in jewellery and if it is a good idea to buy gold coins, does anyone have any suggestions or any online guides where I can get the lastest to know about gold etc.
Thanks =D
February 14th, 2009 at 9:15 am
Gold will be always Gold there is no diffrence whether its jewelary or coins
February 15th, 2009 at 12:13 pm
To get the most value out of gold it must be assayed. That is checked for purity. Second hand gold has very little value otherwise compared to the professionally assayed stuff.
Also the professional stuff is only sold in large bars.
The gold in most jewelery isn’t very pure I’m afraid.
If you want an intro into trading gold. May I suggest the very excellent
February 17th, 2009 at 11:52 am
You need a lot of capital to trade in gold. Moreover gold price is now very high and it is not advisable to invest in it a the moment. It should come down soon.
It is not advisable for you to change your gold jewellery into gold coins. Because your jewellery is useful to you as you can wear it in your daily life style, not coins which you have to keep it in your locker.
February 18th, 2009 at 8:10 pm
It is a gamble to invest in gold!
February 19th, 2009 at 11:17 pm
Hi there,
I am a gold dealer and buy gold on a daily basis.
I am guessing that your 10 ounces of jewellery is 9ct gold (37.5% pure).
Gold prices go up and down on a daily basis but at today’s rate, we pay £4.65 per gram of 9ct gold.
10oz is the same as 311 grams so your gold is worth £1446.
If you want to buy gold coins, assuming for investment purposes, now is probably not the right time as gold is currently worth a lot of money and you may find that you loose out when you want to sell the coin.
You are better off putting the money into a cash isa or something like that. visit for more information about these. This also allows you to hide your money legally from Mr Tax Man.
If you still want to buy gold coins, see below for a few current market values (prices based on gold content only):
Full Sovereign (7.9g of 22ct gold): £109
Krugerrand (34g of 22 ct gold): £470
Just to let you know that we don’t sell gold coins, we only melt them down so I can’t help you with buying those! Whoever you do buy the coins from will charge you more than the above prices so expect to pay 10-20% above the actual value.
Good luck with whatever you decide to do!