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A gold bar has a rectangular shape and comes in many different sizes and weights. How much they weigh depends on the size of the gold bar. The easiest way to categorize a gold bar is by its size.
One of the most popular and commonly traded gold bar sizes is one-ounce gold bars. They are an affordable option for those who wish to invest in gold bars but are on a tight budget. Small gold bars also come in a variety of weights, including 1 gram, 5 grams, 10 grams, and 20 grams.
Gold bars also come in larger sizes that weigh more than an ounce. Investors, who are willing to spend more, can invest in larger gold bars. The most popular sizes include 50 grams, 100 grams, and 250 grams. There are even larger gold bars that weigh 10 ounces, 400 ounces, and even a kilogram.
Larger gold bars are higher in value and are an ideal option for investment and storing at home. These gold bars can also be stored in a bank safe or a depository. Some gold bars also come with proof of authenticity like an assay card that states the gold’s purity and weight. Other bars come with a serial number as a mark of authenticity and quality.
Gold bars can come minted or cast. Minted bars are smoother and have a brighter shine while cast gold bars are made by pouring molten gold into molds.
Silver bars come in a huge variety of shapes and sizes. How much they weigh is largely dependent on how big they are. Silver bars can range from 1 gram to 5 kilograms or more. Silver bars are typically produced by private refineries. The only exceptions are the Perth Mint of Australia and the Royal Canadian Mint. Silver bars come at a lower cost than bullion coins that are legal tender at the same purity and weight.
A 100 ounces silver bar typically weighs only 6.86 pounds, which makes them easy to stack and store. They are uniform in shape and are not very heavy.
Most 100 ounces silver bars are pure. This means that investors can store many silver bars in a relatively small space. 100 ounces bars are accepted as trading units. This allows them to be bought and sold easily by investors.
Silver bars are either minted or poured. Poured bars are made by pouring liquid silver into molds. On the other hand, minted silver bars are cut and then stamped with a design. Making minted silver bars are a lot simpler and faster than making poured individual silver bars. However, many investors are willing to pay more for poured bars due to their more rustic designs.
Royal Canadian Mint produces the most readily available 100 ounces silver bars. Other major producers of 100 ounces silver bars are Asahi and Sunshine Minting.
The retail price of a piece of jewelry is an indication of its value. However, the retail price is for insurance purposes only and applies to new pieces. Consumers usually have their jewelry pieces appraised to find out how much it will take to have them replaced.
There are two different types of jewelry replacement insurance, which are referred to as the actual cash value and agreed value insurance. A large percentage of consumers often buy actual cash value insurance, and such buyers need to know that these type of policies does not make it mandatory for the insurer to pay them the appraised value. However, the insurer works with the replacement value of the jewelry.
This is defined by insurers as the actual cash value before depreciation due to wear and tear and obsolescence of the jewelry piece. The premium is calculated on the degree of risk, which means that the insurer can pay a much lesser amount than the figure stated on the policy.
Agreed value policies offer a guaranteed full-dollar amount that is equivalent to its retail replacement value. Such a policy is usually more expensive than actual cash value policies as it represents an agreed-up-front value that will be paid in case of theft or loss. Nevertheless, this means that there needs to be an adjustment to the value every two years or so to reflect the exact retail market price.
You can get genuine gold to show itself through a nitric acid test which you can perform at home. Create a small marking on the gold jewelry to slightly penetrate through its surface. Drop a tiny amount of liquid nitric acid on the affected area and pause until you witness a chemical reaction. Fake gold will instantaneously turn green where the acid was dropped.
Real gold is much softer and is able to develop tiny dents upon impact. Fake gold is a lot denser, so you will not see any dents if you were to bite on it. Before you disfigure your precious jewelry, bear in mind that gold is a soft metal. Bite gently to create a small indentation.
Unmarked gold jewelry is often just costume jewelry that is worth very little. However, some jewelry pieces may prove to be an exception. Jewelry that was made before the 1900s may or may not have a gold mark. In addition, jewelry that was made by an independent jewelry artist or designer may also not have any stamps.
It is popular to test gold jewelry with the use of a magnet. The logic behind the test is how gold is not magnetic, thus will not be attracted to the magnet. If the jewelry in question does get attracted, chances are it has been mixed with other metals.
Buying gold and silver is much easier today than before since there are plenty of options to choose from. Nonetheless, this abundance of options may confuse certain buyers as to how to reach out to the best platform to buy precious metals.
Making a purchase from either of these platforms involves very similar processes. You simply browse through their catalog and make a selection when you finally chance upon your favorite piece. However, the practices of online stores are typically different from physical stores that include the delivery of superior customer experience and several other factors as shared below.
The most obvious difference between these two platforms has got to be convenience. Online stores are open around the clock whereas physical stores offer restricted opening hours. Some online stores may also be located outside of the convenient boundary of your neighborhood which requires additional time and money to commute to.
Another difference projected by online shopping is the selection process. Online platforms offer a vast collection whereas physical stores offer just a small range that can fit their physical displays.
Overall, the experience is much better in physical stores which involves storekeepers tending to all the needs of the buyers such as providing useful insights and clarifications of product and technical inquiries.
For a worthwhile long-term investment, it is highly recommended for buyers to visit physical stores and seek advice from local experts.
Today, there are many options available for buying gold and silver coins. However, the best option will depend on the preference and the intentions of the customer. Here are some ways to purchase gold and silver coins.
You can buy gold and silver coins either from a local coin shop or from an authorized online dealer. Local coin shops have been around for a very long time and are physical stores where potential buyers can view coins in person before making their purchases. Online stores are a recent development for customers to purchase gold and silver coins on the web.
Making a purchase from a local shop or online is actually very similar. You usually browse what they have to offer before purchasing merchandise that appeals to you. However, there are some key differences. The biggest difference is convenience. For physical coin-stores, buyers need to visit the store to make their purchase and are limited to the opening hours of the store. On the other hand, if you choose to buy your coins online, you are not limited by the location or opening hours of the store.
The most straightforward coins to buy are the American Eagle and Canadian Maple Leaf bullion coins. Other common coins include the Australian Gold Kangaroo coins and the South African Krugerrand. These coins are typically easy to sell within and outside of the US. Canadian Maple Leaf coins are 22 karats while American Eagle coins are 24 karats.
Are you wondering how you can buy gold bars? Read on to find out more!
Gold bars are available in many different sizes and come at different prices. The market value of gold is based on its weight. Typically, a larger gold bar has a higher value. Your options should be narrowed down to your budget. Depending on the world’s demand and supply, and the local economic conditions, the final purchase price of your gold bar could be slightly different from the spot price of gold.
You will also have to choose the type of gold bars you want. They are either minted or cast. Minted bars are hand-cut and have a glossy finish, while cast bars are made by pouring hot, molten gold into a mold.
Gold bars have specific marks that help identify them. They provide information about the gold’s purity and weight and sometimes come with a serial number. The bar’s assay card is an official document of your gold’s purity and weight and can act as proof of the authenticity of your gold.
You need to think about how you are going to store your gold in an optimal way. Gold bars are easy to store as they do not require much space. You can also put them in a bank or a storage space. If you want to have easy access to your gold bar, find a storage space that is near to you.
It is best to buy your gold bar from a reputable company that has a long history of good reviews and many third-party ratings. A reliable company will not rush you to make your decision and ensure that they educate you before you purchase your gold bar. After you have chosen an appropriate company, you may go ahead to purchase your gold bar.
Handling your coins in an improper way when cleaning them can decrease the value of your gold and silver coins. When you do not clean your coins properly, your coin can be damaged by contact and cleaning marks, worn down features, and more. All these devalue your item. Read on to find out how you should clean gold and silver coins in order to protect your coins.
Handle your coins only after you have cleaned your hands. Your fingers usually have a lot of dirt and oil that can be transferred to your coin. Over time, your coin will start to get tarnished. Before you touch your coins, ensure that your hands are dry.
You can opt to put gloves on in order to protect your coins. Use cotton gloves that do not leave a lint residue. Steer clear from any type of glove that may leave powder or lubricant on the coin. Cotton gloves are perfect as they protect your coins and do not leave any residue behind.
Generally, gold and silver coins do not need much cleaning if they are stored appropriately. However, some people have the misconception that breathing on the coin and wiping it down is great to improve shine. Saliva has agents that can break down chemicals and may leave spotting behind.
Distilled water can be used on both sides of the coin. Avoid using tap water as there may be fluoride and chemicals present in the tap water. Let the coins sit in distilled water and let your coin air dry.
Gold and silver coins generally keep their value well even through resale. Universally, sovereign coins are recognized to be legal tender and can typically be sold promptly. As coins are high liquidity, it is possible to get an even higher resale value than from rounds. Furthermore, since the retail market for coins is very active, it is almost always possible to sell your coins.
Although selling your coins to a pawn shop means that you do not have to worry about how you are going to ship your coins to buyers, they typically offer low returns on investment. Although there is room for negotiation, the price will likely not be the best.
Pawnshops do not offer the best rates. However, if you intend to sell your coins to the pawnshop, ensure you compare the prices offered from different pawn shops and take note of the current sport price of gold and silver.
Selling your gold and silver coins to dealers online may be a more efficient way that brings you higher returns. The reason they can offer you better prices than coin shops and pawn shops is that they have significantly smaller operating expenses than physical stores. One option you can consider is selling to authorized businesses and buyers online. Look out for buyers that are willing to give you a quote beforehand, and who provide registered mailing for you to post your gold coins. Buyers should also be willing to send your items back should you be unsatisfied with the price offered by them.
There are plenty of factors that you need to consider before selling your gold jewelry. By following the recommended steps below, you can optimize the selling process and get the highest value possible.
Most jewelry stores do not possess the license to purchase gold jewelry. This simply means that they could have their license revoked if something goes wrong after they purchase your gold jewelry. Such stores also usually do not have any calibrated scales for the proper measurement of your gold jewelry. They are also more prone to pressuring you to make a separate purchase after buying your gold jewelry.
Pawnshops are in a type of business that typically pays the lowest for an item that they can sell. Hence, try to avoid them at all costs as you will be losing so much value. They are also not professionals who are able to recognize expensive jewelry and they are often highly manipulative.
A gold buyer is your best option. Buying gold is their expertise so they do not have any other motives to manipulate you or try to convince you in making a new purchase. Gold buyers possess the necessary license to buy your gold jewelry which is provided by the Department of Justice and police departments. This is important to track down any unscrupulous activities with the purchased jewelry pieces. In addition, they also own calibrated scales to provide a fair and accurate reading for the purchase value.
Physical gold and silver pieces are considered bullion, which possesses a high purity content. They are usually stored in the form of gold/silver coins, bars, and ingots. Bullion may also at times be considered legal tender and is held as reserves by central banks or investors.
Gold bars are precious metal ingots produced by either government or private gold mints. Gold bullion is often not legal tender without any face values and is much cheaper per ounce or gram as compared to gold coins.
Gold bullion can be purchased at the current market price of gold as it has the same density and purity. Its price also includes a small percentage of fabricating, refining, and shipping costs. A simple definition of bullion is a refined and stamped weight of precious metal.
Firstly, layout your gold bullion on top of an unglazed ceramic plate with a little pressure. Observe for any gold markings on the ceramic after this process. Real gold bullion will leave a gold mark whereas a fake piece will leave a black mark.
All banks that do business within the USA are obligated to accept and insure gold deposits to their full value. They must also allow for the unrestrained transfer of assets within the banking system throughout the whole of the U.S. and its boundaries.
Silver bullion is any piece of silver with a high concentration content. It is basically defined as 99.9% pure and is often intended for investment purposes. Silver bullion typically comes in the form of coins or bars and is produced by either government or private mints.
Silver is one of the most valuable elements known to man. It is a good conductor of electricity and heat as compared to other pure metals. Throughout history, the ability of silver to reflect light makes it the superior choice for the production of mirrors. Silver is also a representation of wealth to a large percentage of society.
Silver bullion coins are produced by government mints for investors. In modern times, they possess a purity content of 99.9% or higher. Most pure silver bullion coins weigh one troy ounce which is equivalent to 31.1025 grams. This set of standards makes it easy for owners to track their silver assets.
Silver bullion bars which can come in the form of minted or poured bars are produced to the same .999 fineness level of silver bullion coins. They often come in a variety of shapes and sizes which can range from 1 to 5,000 grams or more. Private mints make nearly all the silver bullion bars in the market with probably just a limited number of exceptions. Silver bullion bars typically cost lower than legal tender bullion coins even when they are made with the same weight and purity content.
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