With the value of the Dollar dropping and Gold rising, is it wise to cash in ones Gold Jewelry or …?
By… is it wiser to buy Gold Jewelry, in case the Dollar's bottom falls out ?
Old Jewelry Worth Its Weight in Gold
http://finance.yahoo.com/banking-budgeting/article/104772/Old-Jewelry-Worth-Its-Weight-in-Gold
jewelry is not an investment because you buy it for its beauty and workmanship, not for the meltdown value of the metal. if you're going to buy gold, buy what is called "PAMP," which is always sold in an assay-certified container, and is issued by the credite suisse, with beautiful designs on it (look up the definition of "pamp.") if you buy PAMP, you will be buying .9999 pure gold. if it were actually 100% gold, it might melt or bend. an assayer is licensed and probably bonded to give the complete truth of the amount of any precious metal that exists in a piece of it.
the time to sell it was about two weeks ago, when gold hit the high of $1000 per troy ounce. gold has leveled now to about $914/troy ounce. then you must figure out carat value also: 14K is 14/24 = .583, or 58.3% real gold. if you sell what you do not wear, be careful who you sell it to and be careful that you know its caratage before you sell it.
be prepared to pay true market value or higher if you buy gold or gold jewelry on eBay, but it's harder to sell it on eBay for what you paid for it! and then there are the fees…
yep, i'd buy as much gold as i could these days, but i'd buy PAMP or nuggets, if you can find them, but only if they are assayed.
How to Create Chances to Sell your Jewelry (part One): Developing the Habit of Selling
3 Comments
June 28th, 2009 at 8:00 am
jewelry is not an investment because you buy it for its beauty and workmanship, not for the meltdown value of the metal. if you're going to buy gold, buy what is called "PAMP," which is always sold in an assay-certified container, and is issued by the credite suisse, with beautiful designs on it (look up the definition of "pamp.") if you buy PAMP, you will be buying .9999 pure gold. if it were actually 100% gold, it might melt or bend. an assayer is licensed and probably bonded to give the complete truth of the amount of any precious metal that exists in a piece of it.
the time to sell it was about two weeks ago, when gold hit the high of $1000 per troy ounce. gold has leveled now to about $914/troy ounce. then you must figure out carat value also: 14K is 14/24 = .583, or 58.3% real gold. if you sell what you do not wear, be careful who you sell it to and be careful that you know its caratage before you sell it.
be prepared to pay true market value or higher if you buy gold or gold jewelry on eBay, but it's harder to sell it on eBay for what you paid for it! and then there are the fees…
yep, i'd buy as much gold as i could these days, but i'd buy PAMP or nuggets, if you can find them, but only if they are assayed.
References :
June 28th, 2009 at 8:41 am
If you'd like to invest in gold i recommend looking into
GLD
it tracks with the value of gold. That way you dont have to actually hold real physical pieces of gold (unless you really want to)
References :
June 28th, 2009 at 9:19 am
If you think the U.S.'s economic and credit problems are solved with George Bush and Ben Bernanke's policies, THEN I would recommend selling gold. Personally, I think Bush and Bernanke have made things worse for the middle class so I would hold on to your gold. The Titantic is already sinking and highly doubt the Democrats can patch the holes fast enough. I strongly recommend buying more gold at what has amounted to a 10% discount the last couple weeks. Buy GLD on the stock market or get gold Eagles from your local coin store.
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