Beware of the fake gold coins

Do you like collecting gold coins, or buy them for the purpose of investing in gold? The truth is that if you are dealing with gold coins, sooner or later you would come across fake gold coins. At that time you would really feel the need of having the information which could help in differentiating between the real gold coins and the fake version of them.

It’s not easy to differentiate between a real gold coin and a fake gold coin; if it was so then the fake gold coins would not have been in circulation. At first glance, fake gold coins just look like the real coins and it’s because of this reason that a lot of people fall into this trap. However, if you are careful and have good information about gold coins, you can protect yourself from being ripped off.

In the early days, to find the originality of a gold coin people used to bite on them. This is a very unprofessional way of determining the originality of a coin and at no time should be recommended to anyone. By doing so, you might break a tooth, and also it’s not necessary that this will really help you in differentiating a real coin from the fake one.

So, how can anyone go about testing a gold coin? The other way of testing the originality of a gold coin is by listening to the jangling sound of it. If you have good ears, you would easily be able to use this testing strategy. Gold coins that are fake, sound very dull and so if you are used to the jangling sound of real gold coins, you can easily spot the difference. This testing strategy however is not much reliable, and therefore might not bring you much success.

You might be wondering now as to what’s the best way of testing gold coins? Well, the best way to test the originality of a gold coin is by seeking the help of a professional. You can take your gold coin to any nearby gold dealer and he/she will easily be able to tell you if it’s real or fake. Gold dealers usually have a lot of experience in dealing with gold, not to mention the equipments they have to check originality of the metal. So, if you really want to know if your gold coins are real or fake, the help of gold dealers is something that you can completely rely upon.

Selling your old and unwanted gold jewelry

Do you have old or unwanted gold jewelry lying in your wardrobe? Wouldn’t it be nice to exchange that gold jewelry for some cash? Gold prices are always going higher, and right now they are at record highs. This means that this is the best time to exchange your gold for some cash.

Now, would you sell your gold jewelry to just about any gold dealer that you can find? Perhaps, it wouldn’t be a good option for you. There are a lot of companies which advertise their services related to gold through newspapers and TV, and offer you cash in exchange of your gold. However, most of these companies do not turn out to be much profitable because they only give you about 20% of the actual value of your gold.

You might be wondering why these companies pay so low. Well, the first thing is of course the profit, but these companies also need to gather money to pay for those commercials so they try to reap as much money from you as they can. Therefore, if you are facing a financial hardship, or you are in immediate need of some cash, do not sell your gold jewelry to these companies; rather try to look for gold dealers which provide you the right value for your gold.

Can you only exchange gold jewelry for cash? The answer to that is no. Basically, any scrap gold that you own can be sold to a gold dealer in exchange of cash. If you have gold bullion coins or bars, it would be relatively easier for you to exchange them for cash because the gold content in them is guaranteed and for the same reason are accepted everywhere without any problem.

A beginner’s guide to gold investments

People buy gold for various reasons; however the most common one among them is financial security. People want to become financially secure, and gold investments are just the ones that provide this security.

It is a known fact that gold prices are always going high, but do you know that these prices will continue to go higher even during the times of economic instability? Gold investments are the only investments that remain protected from things like recessions and economic crisis. Few years back, when there was a worldwide recession; gold investors were still getting the regular flow of cash from their gold investments.

If you do not have any knowledge about gold investments, there has never been a better time to get into it. When you will start to learn about gold investments, it might be a little tough and confusing for you. However, once you understand the basic concept of investing in gold, you will realize how beneficial this can be for you.

Since you are new to the world of investments, you shouldn’t be investing money into other business, because if you do so, you are taking too much of a risk in the beginning itself. Gold investments are not that risky because no matter what, you cannot lose the money that you had initially invested.

Now, how would you really invest in gold? It’s totally up to you. If you like to own physical gold, then you can start by buying gold bars and coins and invest in gold that way; however if you do not want to deal with the security and storage issues of physical gold, you also have the option to invest in companies that deal in gold. Whichever way you choose, make sure that you understand the basic concept of gold investment before you start the investment.

Tips on buying gold bars

If you are looking to invest in gold, buying gold bars is an excellent option for you. These gold bullion bars are used by a lot of people for the purpose of investing in gold. The best thing about gold bullion bars is that their gold content is guaranteed, which means that you will never face any problem in selling them at a later stage.

The very idea of investing in gold by buying gold bars, gold coins and gold jewelry is truly effective. This way your investment is protected from economic crisis that may arise in the future. Do you know that these gold bars can be molted and transformed into gold jewelry of different sizes and shapes?

Gold is a very expensive metal. It is so much in demand that the price of gold are always on the rise. It is to note that gold bars which are smaller in size have relatively higher costs as compared to the gold bars that are bigger in size. This is because on small gold bars there is a low premium.

An interesting thing about gold bullion bars is that they come with the markings. These markings indicate the name of the manufacturer along with the purity and weight of the bar. Ever gold bar is quite different and so it is easy to differentiate between them. However, it is true that most of the gold bars that are minted in different countries of the world have a motif on the reverse side of it.

Most of the times when people are buying gold bars or gold coins, they tend to be worried about how they are going to sell them. When you are trying to sell gold jewelry, you might face a bit of problem but not with gold bars. This is because their purity is backed up by the manufacturer and therefore they are widely accepted. So, if you really want to invest in gold, gold bullion bars should remain on the top of your list.

The benefits if investing in gold

Most of the people who invest in gold, do it for long-term. Gold investments provide better returns when done for a longer period. Now, people invest in all sorts of things. They invest in bonds, stocks, shares, etc. but investing in gold is usually a much safer option for new investors.

If you aren’t knowledgeable about investments or if it is your first time you are doing it, you do not want to lose your finances due to lack of experience and knowledge. Therefore, in such circumstances it is better to invest in gold as it prevents your loses and gives you the financial freedom for your upcoming future.

Are you retiring anytime soon? If yes, you might be wondering as to how you are going to survive after your retirement. By doing things like gold IRA, and buying gold bullion coins and bullion bars, you can invest in gold and get a regular flow of cash coming to you even after your retirement.

Some of the benefits of gold investments are listed below:

Price: Gold price is always on the rise. It also does not lose its value like currency. This means that as the years go by, your investment will start to bring you more and more profit. The price of gold also does not get affected by things like economic downturns, recession, inflation etc.

Acceptance: Gold is accepted worldwide. This means that you can buy/sell good just about anywhere in the world. Due to its high price and demand, you will hardly face any problem in selling gold. This makes gold investments a comfortable investment, because if you want to sell your gold in a hurry, you would not have to face any problem.

Investment portfolio: Gold investments also help you in diversifying your investment portfolio. When you diversify your investments, you are quite less at risk and hence more stable.