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Buyer’s Beware: Buy a Real Watch

How many times do you check your watch every day? Many people do not carry watches today as they have phones and tablets always buzzing at them giving the time. If you do wear watches, make sure you have an authentic watch.

Buying a fake watch will bring many problems to you. Although the watch will most likely be cheaper, you will face reliability issues, and if you need to get it fixed, probably an authorized dealer will not be able to repair the watch.

Before I start, I want to add that some people go into a purchase wanting to buy a fake watch to stay cheap. As long as they are aware, that is okay. They know they are buying a fake watch; they have no intention of buying the real thing.

Buying a genuine watch is a matter of doing the homework. Whether you do the research yourself or borrow the knowledge from other collectors or sources, it will prevent you from making many mistakes. From the rather simple mistakes to those that remain unexposed if you didn’t take that extra mile. This rule does not only apply to internet sales, but also to pre-owned and vintage watches sold by traditional jewelry shops and auctions (yes people, counterfeits even show up there once in a while).

There is a difference between counterfeit and “Frankenwatches” watches. A counterfeit watch is a complete fake. Nothing is genuine about the watch. Some makers of counterfeit watches are quite good these days, which means they make them out of decent stainless steel, get most of the little details correct, and perhaps even provide a fake box and false papers. Be very careful about those. One thing will give it away before anything else. The price. It is probably too good to be true. There will be some other things as well, mainly in the details of the watch. So either make sure you can verify whether there is valid movement inside or study all the details to be sure. Ideally, you would bring a similar watch with you that you know to be genuine.

A Frankenwatch is a watch that consists of (mainly) original and genuine parts, but they are either not period-accurate or did not originally come with that specific timepiece. This, or another mix of ingredients, can make it hard to determine whether a watch is genuine or not.

Common sense and education are crucial when it comes to purchasing a watch from any channel other than an authorized dealer or brand boutique. There are many books out that will inform you on this subject, numerous watch blogs, online forums, and trusted jewelers who will give you straightforward answers. Absorb as much information as you can and do not forget to ask for a second opinion when you are in doubt. Asking someone else will not offend the jeweler. They should respect your decision.

 

 

The Gold And Silver Krugerrand Coins

The Gold Krugerrand has the title of the world’s first modern gold bullion and is still very popular in the trading business across the globe. The coin is one of the most coveted investment coins, and because it has been so successful, it is now being offered in silver.

To celebrate the 50t anniversary of the gold coin, the South African Mint has struck the first premium 1oz. Silver Krugerrand.

Back on July 3, 1967, the South African Mint issued the first Gold Krugerrand coins to help advertise South African gold, which at the time, made up 70% of the world’s total production of gold. By 1980, the coin was thoroughly beating out any competition of the global coin market with 90% of the sales.

Where did the name Krugerrand come from? The name was derived from statesmen Paul Kruger, a four-term president of the South African Republic. The “rand” comes from the South African unit of currency.

In 2017, more gold Krugerrands have been minted and than all other gold bullion combined. Because of its popularity, it has become an excellent way to track the price of gold. This has made its new silver counterpart highly anticipated by collectors all over.

ModernCoinMart debuted the Silver Krugerrand at the Florida United Numismatists (FUN) Show in Fort Lauderdale, Florida in January. It was the first time the coin was seen in person in North America. The coin is now offered online for purchase.

The Silver Krugerrand has the same classic design as the gold coin. The coin bears the face of Paul Kruger and the Springbok antelope, one of the national symbols of South Africa, along with a special 50th-anniversary Mint mark.

“ModernCoinMart and GovMint.com are excited to offer the first-ever 2017 Silver Krugerrand as the exclusive North American distributors for this coin,” says Steve Wolff, VP of Product Development of ModernCoinMart. “The worldwide popularity Gold Krugerrand has made the silver version a great collector item. Proof and bullion versions of the Silver Krugerrand will also be released at a later date.”

This coin is historic. If you are remotely interested, check it out. There will be a limited quantity of these being circulated, and it is important to act fast if it is something you want to invest in.

A History of Hoop Earrings

A History of Hoop Earrings

 

Everything has a history, a story, a place where they came from, and learning that can make any accessory you own that much more interesting. Whenever someone puts on a great accessory to complete their outfit, they might not stop and think about where that piece of jewelry came from.

 

The Hoop Earring

 

Of all the accessories a woman can own, the hoop earring is one of the oldest forms of jewelry. They have been around for thousands of years and have been worn by both men and women. Its use has dated back to many different places and cultures, dating back to ancient Rome, Greece, and even ancient Sumerian culture.

 

The first ever hoop earring have been linked to the Sumerian culture, which is now known as Iraq. They then became popular in Egypt, Greece, and Rome.

 

While the hoop earring has come a long way from where it began, it is one of the many styles that has continued to stick around because of the culture and creativity. Many of today’s hoop earrings no longer resemble what they have in the past, but they remain one of women’s favorite accessories.

 

Through the Years

 

The hoop earring has come a long way. While many women, celebrities included all love to wear them, they didn’t always have a good reputation. The hoop earring has paved its way into history, being jewelry only worn by slaves and being very popular amongst sailors and pirates. But lucky for us, they have steered away from that direction and have become the

fashion accessory they are today.

 

The Hoop Earring Design

 

The hoop earring is easily identified. A simple design, the hoop earrings’ design is circular or semicircular and resembles a ring. Now although the hoop earring has a simple design, there are different types of hoop earrings to choose from. Amongst the designs to choose from are fancy, diamond cut, classic, endless, square tube, satin, and twisted.

 

Hoop Earrings & Trends

 

While not much is known about who created the first ever hoop earring, or who was the first person to rock this jewelry, we are glad they did!

 

The hoop earring is simple yet elegant. They can be worn with jeans and a v-neck while also used on a special night. Having that flexibility makes for an easy decision when deciding on earrings.

A Man’s Guide to Wearing Jewelry

 

There’s a certain power of jewelry–for better or worse it sends signals about who we are, what goals we have made, and our status amongst others.   

 

The purpose of this article is to help you understand some rules to wearing jewelry so you can better control the signals you send.  Let’s be honest, these tiny pieces of metal and stone can have a big effect on the opinions of people we’re trying to work with or get to know, and you want to make sure you’re sending the right visual message.

 

You can step outside the norm and people notice. Depending on your goals, this may be a good thing or a bad thing.

 

Please note – this is one man’s perspective.  I am aware that different cultures around the world view the wearing of jewelry differently.

Four Rules All Men Should Follow

 

  1.  Keep It Simple

When in doubt, keep it simple.  Start with a classic leather-strapped silver watch; if you regularly wear a watch and can afford it, consider a sportier watch with a stainless steel band.  Next branch out to tie accessories and cufflinks.

 

  1.  Match Metals

Most men’s jewelry is metallic.  Gold and silver tones are the most common.  Your outfits should only feature one metal tone at a time.

 

  • Gold goes well with browns and other earth tones, as well as royal blue or hunter green. Watch for differing tones if you’re buying multiple pieces of gold jewelry–gold comes in a broad range of darkness/lightness, and you don’t want to end up with pieces that don’t match if the difference is extreme.
  • Silver and polished stainless steel are more neutral. That means they don’t clash, but also don’t provide the contrasts that gold can. Wear silver jewelry with black or dark gray clothing, or you can wear it with lighter colors in the summer without it taking charge over your soft clothing colors.
  • Turquoise is becoming something of a Southwestern gentleman’s stone.  A bit on a ring, bracelet, or belt buckle goes great with jeans and a collared shirt.  Just be aware that it is eye-catching so wear small amounts, and only want to draw attention to wherever the turquoise is located.

 

  1.  Understand Jewelry’s Meaning

 

A man has to be careful when wearing jewelry pieces outside the norm.  It’s easy to appear flashy when you start wearing different jewelry regularly. However, jewelry can add a helpful bit of color and uniqueness to an outfit. So how does a well-dressed man balance it?

  • Avoid Outlandish Styles.  It’s hard to repeat this point often enough. Don’t go overboard on jewelry.  
  • Wear Meaningful Jewelry.  We’ve talked about wedding rings already.  Other examples that have meaning include class rings, a fraternal ring, a military service pin, or an athletic ring or necklace.  These can be “door openers” and conversation starters.
  • Know When to Wear It.  Save your best for the big occasions in life.  Bringing specific pieces out for specific events–instead of everyday wear–makes them less status pieces and more festive statements.

 

  1.  Jewelry and Dress Codes

In the business world, company dress codes can severely restrict male jewelry.  So if you’re hired at a corporate office, you shouldn’t wear as many necklaces as Mr. T.

You can express yourself after work. Jewelry is small enough to slip into a jacket pocket after all.

 

Wearing jewelry is something anyone can pull off. There are several ways to wear jewelry. Some people wear zero jewelry, and some wear a lot. Lenny Kravitz shows off jewelry in ways only Lenny can do. Not everyone would pull off The Crown Jewels as Queen Elizabeth II does. Being able to express yourself is something that you should take great pride in and have the confidence that no matter what you wear, or if you wear any at all, does not define who you are.

Berlin Coin Stolen

Can you imagine a coin so big that you could never flip it or even slip it into a vending machine? Apparently a coin this big was stolen from a Berlin Museum. The 221-pound Canadian piece, coined the Big Maple Leaf, was taken overnight last Monday.

 

The coin is roughly 21 inches in diameter and over an inch thick. Queen Elizabeth II graces one side and a maple leaf is on the other. In currency terms, it is valued at 1 million Canadian dollars, or about $750,000, but with gold prices the way they are, it is worth closer to $4.5 million.

 

The burglars have many obstacles to hurdle, but first, this coin weighs as much as a refrigerator. Somehow they managed to haul it through the museum and up at least one story to get it out of a window in the back of the museum. The police are still in the process of how they exactly did it.

 

The Bode Museum, which is located on Museum Island in the Spree River, is owned by the Prussian Cultural Heritage Foundation. It is close to the east-west passenger train tracks that run across the island.

 

What police know so far is that the burglars might have broken through a window above the railroad’s tracks during the break it takes at night.

 

Around 4 am, police were called to the scene. They speculate the robbery occurred sometime between 3:20 am and 3:45 am. The window above the tracks, stood open and looked to have been “forcibly opened,” said Winfrid Wenzel, a spokesperson for the police department.

 

Once on the scene, officers searching for clues found a ladder near the railroad tracks behind the museum. The police declined to give further details, such as if the alarm system had gone off or if video cameras showed that area.

 

The Big Maple Leaf had been on display since December 2010 in a bulletproof case. It was surrounded by smaller coins that were left untouched. The bulletproof glass “appeared to have been violently shattered,” Mr. Wenzel said.

 

Because of the sheer weight of the coin, authorities are assuming more than one person was involved. The current theory is that the thieves rolled or dragged the coin through the museum, out the window and then possibly alongside the railroad tracks, possibly going to a nearby park on the other side of the tracks.

 

Gold experts have said it would be difficult to sell the stolen coin, but worried that it could be melted down very quickly and the gold be sold to the public.

 

In addition to the gold coins, the museum features paintings, sculptures and other works of art. The museum says its gold medals and coins collection is one of the largest in the world, with about 500,000 objects.

 

The Royal Canadian Mint created its first million-dollar coin, in Canadian dollars in 2007 and made five coins in total for sale. Alex Reeves, a spokesman for the mint says that the first coin is “safe and sound in our security vault,” and it moves around in a trunk with casters similar to those used by traveling music acts and stage shows.  

 

He also mentioned, “customers are responsible for the security of their own assets.”

 

It is always important to keep your valuables in a secure place where you are confident that they will be stolen from. If you believe that they are at risk, it is beneficial to you to move your items to a more secure location. If you need to get rid of them all together, bring them to Gold Buyer OK to be melted down and in return, leave with cash.

 

Platinum vs. Silver…Which is which?

To the untrained eye, two of the most popular precious metals – platinum and silver – can appear to be the same. At first glance, they’re both shiny, metallic, and have a gray hue. But the commonalities between platinum and silver stop there, as a jeweler can differentiate easily. After reading this, you’ll be more confident with these two precious metals.

 

Why differentiate in the first place?

 

While platinum and silver share many properties, there are also differences that stand out. If you are selling platinum or silver or attempting to, being educated on these differences will make it easier to sell, know who to sell it to, and how much you should be getting for it.

 

Knowing the difference between these two will put you ahead of the general public and make it possible for you to turn around and sell items, making yourself a high profit.

 

The differences in the two

 

The differences go beyond what they look like on the outside. It has a lot to do with the properties in which they are made. Gold is rarer than silver, and platinum is rarer than gold and silver – so rare, in fact, that all of the platinum ever mined could fit in a living room. So platinum will always be more valuable than silver because there is much less of it and the demand will always be high.

 

Silver and platinum both have  been a part of many civilizations and cultures. Silver has been a standard of currency with most countries, providing a solid foundation for economies, while platinum always has been seen at as a symbol of high status. Two metals could not be more polar opposite with the way they are used: silver being used for coins while platinum is used to make crowns for royalty. An easier way to put is that silver is the “working class” of precious metals while platinum is the “elite class.”

 

Platinum has a high melting point, giving it max durability and top-notch quality. Since this is the case, platinum is used to connect rare stones such as the Hope Diamond.

 

Although they look related by just to the eye , that is where similarities stop.

 

The differences in appearance

 

Mentioned above, looking at them  makes it hard to distinguish the two. Here is how to tell the two apart.

 

Since the Native Americans roamed North America, platinum has been used as a white alloy with gold because platinum has a much whiter color than silver. This is a difference that many jewelers will spot out.

 

The added “whiteness” that platinum boasts gives it a bright shine that silver lacks. Silver normally is not as pure and shiny as platinum, and after practice, the difference will become more evident.

 

Now that you know the ins and outs of platinum and silver, you can put your knowledge to work. While dealing with jewelers, whether you are buying or selling, you’ll be more confident while pondering the sale of your treasures.

Platinum Sterling

Platinum Sterling And Its Benefits

Have you noticed that in the last few years,  when visiting jewelry stores, platinum sterling and platinum-plated sterling are always in high demand?. Recently, they have become top choices for engagement rings and other pieces of jewelry where beauty and durability are required.

How did platinum and sterling join forces to create such a popular choice? Let’s learn more.

A brief history of the platinum alloyed sterling

Just over ten years ago, American Bullion Inc. of Carson, California, registered a trademark for a new kind of alloy, Platinum Sterling. Their goal was to create an alloy for jewelry that would be beautiful but also resistant to tarnishing – basically, a silver-colored alternative to gold jewelry.

Major success came with this development. The product was pretty and much more tarnish-resistant than sterling silver alloys. Many jewelers also noticed that while the alloy was similar to both white gold and sterling silver, it was much harder and heavier.

Beyond The Alloy: Platinum-Plated Silver Jewelry

Also in the last decade, a growing number of jewelry manufacturers have expanded their manufacturing of platinum-plated silver jewelry, especially engagement rings and earrings because of how durable they are while still maintaining a nice look. Another positive is the price tag. You will quickly see that many high-end jewelry companies are making platinum-plated silver items.

More specifically, platinum-plated silver watches are becoming popular. Appearance wise, they look almost the same as real platinum watches but do not cost nearly as much.

Gain Profit From Platinum and Silver

If you have found platinum silver or platinum-plated silver jewelry items or scraps laying around your house, you could have landed yourself a big payout. Gold Buyer OK will be happy to appraise your items in-house free of charge. If there are valuables, trustworthy staff members will offer you cash then and there!

The King Of Pop And His Gun

Today might be your lucky day. Elvis Presley had a gold and silver revolver that is up for sale. This is making news because it has always been hard to get your hands on any of his memorabilia.

 

The King’s gold and silver Smith & Wesson .357 revolver will be sold to the highest bidder by the auction company, Rock Island in May.

 

Five years ago, an appraisal company valued the pistol at $275,000. Given the fact of its famous owner and personal engraving, a price similar to that should be expected. To an Elvis superfan, it might just be worth it.

 

Elvis purchased the gun in 1970 from Kerr’s Sporting Goods in Beverly Hills. The gun has distinct leaf and scroll engraving while being bordered by inlaid gold and silver. The handle is made of beautiful carved ivory.

 

In different places around the pistol there are animal images etched in the gold. There is a bobcat, a moose, a mountain lion, a puma, along with a deer and an antelope. German artist Frederick Willhelm Heym did these illustrations.

 

An interesting story regarding the gun is that in the same year Elvis bought it, he gave it to then Vice-President Spiro Agnew as a gift. This makes the gun even more valuable. However, Vice-President Agnew later returned the pistol while under investigation for illegal activity.

 

Elvis was known for his flashy style and also his helpful ways. He often gave pieces of his wardrobe away when he was tired of it. His personal driver even received a watch that is also up for auction.

 

Not everyone is into Elvis Presley, but if you call yourself a fan, this might be something you could look into. If the steep price is too high for you, maybe you could find a way to befriend the new gun owner.

 

A Golden Smile

It is important to keep your keep your teeth crystal clean. Sometimes when you have dental work done, dentists put in different fillers into your teeth to help fix the problem. These fillers are made of many types of metals or even porcelain and help keep your teeth healthy. Did you know that some people have gold in their teeth?

Here is some information on gold dental work and how you can benefit from it.

Some places offer to buy your golden teeth! Just make sure they are out of your mouth before you offer to sell them. Most of the time, it is dentists who have collections of gold and other alloyed extracted who have things to sell. Gold Buyer OK will gladly appraise (free of charge) what you have and give you the best price in the region.

Remember, your teeth are your property! What’s been worn in your mouth is yours. There is not a dentist who offers an old dental work discount when giving a price quote for a new gold crown or extracting a tooth that has one. That means it’s your dentist’s obligation to return any restoration back to you if you want it.

However, if you do not want it, most dentists sell dental crowns and bridgework, dentures, inlays, clasps, fillings, gold teeth, grindings, polishings, bars, amalgam and other metal extractions by shipping/bringing them to gold purchasing offices.

That might lead you to the question of when should you sell? At current precious metals prices, even a fraction of an ounce can yield a sizeable return. So the truth is, there is no wrong time to sell dental gold and other dental scraps!

You might be surprised at how much your smile is worth. The price of gold and other precious metals has risen dramatically in recent years. Right now, 24 karat gold is priced at $1226.9 an ounce. In previous years, it almost reached $2000.

As a ballpark estimate, a gold crown may weigh one-tenth of an ounce. If its gold content runs somewhere between 10 and 18 karats, at even just $800 an ounce, it would be worth about $30 to $60. Not an insignificant sum but extra cash that could help you in many ways.

So next time you taking someone’s picture for them, instead of saying cheese, you might say “gold.” You never know what you might see!

Protecting and Storing Your Precious Metals

After buying precious metals, customers are faced with the question of how to store and protect their new investments. Finding the proper storage for your gold or silver should be a crucial decision given the value of your items. Fortunately, it does not have to be a complicated one.

 

Customers have many options when it comes to storing their precious metals, so they need to take into consideration some factors before finalizing on the storage space.

 

Some questions that always need to be addressed are how much money do they want to spend; how much security they might require and how accessible their valuables need to be. To meet these matters, listed are four storage options for your valuables along with potential advantages and disadvantages.

 

House Storage

 

Keeping your valuables in your home is the easiest and cheapest route to go when storing gold. This is a good idea for someone who has a small amount of gold, silver, etc. and does not want to have to deal with the hassle of using an outside source. Putting your items in a secure hiding spot somewhere on your property will keep it out of reach of guests and also out of the hands of burglars, while still allowing the owners easy accessibility. Common ways are either using a hollowed out book or burying your jewelry in your yard.

 

Safes

 

Safes offer more security storing precious metals in your home since they require either a combination code or keypad code to open. Additionally, because of their weight and size, they are tough to move much less steal. Safes can also protect your valuables from any potential damages incurred by floods, fire or other natural disasters. The price of a safe can range anywhere between several hundred to several thousand dollars.

 

Banks

 

Many people are not comfortable with the idea of keeping precious metals in their home because it can make them potential targets of theft. If this is where you stand, use a bank and their storage options. By turning to a third party facility to fulfill their needs, people relieve themselves from the responsibility of having their valuables at their home. Banks offer top level security both internally and externally, so they can assure customers that their gold and silver possessions are well protected.

There are two ways to store your valuables at a bank: safety deposit boxes and a bank vault. Safety deposit boxes are reserved for the private use of a single customer. For customers who don’t mind storing their valuables with other people, bank vaults are an ideal place to store larger investments.

 

Unfortunately, there are some drawbacks to storing your precious metals at banks. First, customers are required to pay fees for these storage services. The second drawback is the limited accessibility. For someone to view their valuables, they must visit the bank during its business hours, which typically is similar to most people’s work schedules. These time restrictions can cause large problems for a customer in the event of a financial emergency.

 

Precious Metal Depositories

 

Placing your valuables in a depository has the most advantages when it comes to storing and security. Not only do they boast the most space for your collection of gold, but most spaces also have climate-controlled rooms so the moisture levels are always correct.

 

The main reason why these depositories are sought after so heavily is because of the security that is in place. Almost always, these facilities are under 24/7 surveillance. Whether it is video, audio, or armed guards, robbery is very rare. With such extensive security measures, customers can rest assured that their valuables are in safe and capable hands.

 

Conclusion

 

Investing in gold and other precious metal is something that millions of people do. In the future, more and more people will seek to invest in things that retain valuable. Because gold will always be sought after, make sure that you are always taking appropriate measures when storing your valuables.

Know Your Karat: How to Tell What Karat Your Gold Is

With so much gold circulating the globe, it’s not a bad idea to make sure you are confident in the karat amount you have. As a buyer or seller, get in the habit of checking the quality of your gold, so you are not taken advantage of. Here are some ways to do so.

The value of gold is determined by its karat rating. An object made from 18-karat gold will cost you more than the same object made from 9-karat gold. An experienced jeweler will be able to guess the value of an item just by the naked eye, but they also use tests to determine the karat rating of gold. Knowing how a jeweler determines the karat value will help you.

Karat (spelled “carat” in the UK) is a measure of the fineness and quality of gold. That is the amount of gold about other metals that make up an object. In US and Canada, the most frequently used karat values are 14 karats and 18 karats (meaning 58.5% and 75% gold respectively). In the UK, 9, 18 and 24 carats gold are the most frequently used alloys.

There are many variations in the color of gold, ranging from white, yellow to red. Pure gold is a deep golden yellow. In its most perfect state, it is very soft, and although this makes it very easy to work with, for everyday use a harder metal is needed. Gold is therefore combined with a base metal, commonly copper or silver, to form an alloy.

What is often referred to as “white gold” has a high amount of silver in the alloy. Similarly, “red gold” contains a lot of copper.

A gold assay test shows the percentage of gold compared to others metals in an item. It is an analysis of value rather than of quality. Expensive materials can be poorly manufactured and, similarly, cheaper metals may have been worked with exquisite craftsmanship. An assay or hallmark is an objective chemical test.

Hallmarks show that an assay test has been carried out on the gold object to confirm its authenticity. The reliability of the hallmark depends upon the country of origin. State-controlled assay offices imprint a mark onto the gold showing the year and place of assay together with the percentage of gold found, or the karat rating. The hallmark is tiny, so you may need a magnifying glass to see it clearly. Many jewelers use a loupe, a special magnifying glass used in the jewelry business.

If the hallmark is clear and readable, this is the quickest way to check the gold content of an item. However, over time some of these marks can become worn, and some may have been tampered. So how do dealers determine how much a gold item is worth if the karat mark is indistinct or missing?

There are different ways to test the state of your gold jewelry. If you do not want to use a jeweler, you can use a take home test. The kit consists of some solutions of dilute acid and a touchstone. The touchstone is made of a dark acid-resistant rock such as slate. The jeweler rubs the gold object gently across the stone so that it leaves a streak mark. He or she then applies the acid solutions in turn to the mark. The higher the gold content of the metal, the less of it will vanish when acid is used.

 

Test Comments
Look at the color The deeper the orange-yellow color, the higher the karat.
Check the hallmark Are the assay marks clear and are they from a country that you can trust?
Carry out an assay test Take care. Wear protective clothing as you will be handling acid.

 

One of the reasons why gold is such a prized metal is that it does not react to air. Thus gold does not rust like so many other metals.

Gold also does not cause skin irritation if worn. Discoloration or rashes on the skin next to the jewelry indicate that the gold has been tampered with and is not pure.

Always be sure to know exactly what you are selling before you make the final decision and sign on the dotted line. Knowing what you are getting out the deal is crucial for a successful transaction.

Always Check Your Couch Cushions

Have you ever scavenged for lost change in between your grandparent’s couch cushions? It is one of those places that coins roll down into and sits until fingers small enough discover them. What if there was a whole suitcase filled with gold and silver coins hiding behind the sofa?

An elderly British woman had an auctioneer over to her home after acquiring it from a relative. Her plan was to sell some of the items in the house that she might not need or want any longer.

Auctioneer Jonathan Humbert came across the treasure after the pensioner asked him to clear the house in Towcester, Northants.

He said: “When I received the call the woman said she had some ceramics and furniture that needed cleaning out. Those are two words that auctioneers usually dread, but she mentioned a few gold coins too. That pricked my ears, and I went out.”

The auctioneer discovered a treasured piece of luggage that surprised both of them.

The suitcase’s contents included $35,000 EU pounds worth of gold along with valuable pieces of silver.

The auctioneer went on to describe how heavy the suitcase was, saying ““I went to lift it and almost pulled my arm out of my shoulder, it must have weighed well over 40 kg.”  (Which is close to 90 lbs.)

Both him and the homeowner, who wishes to remain anonymous, had no idea that the suitcase had that much gold and silver inside of it. The lady explained that a close relative used to invest in silver and gold and had left the bag for her when they passed away.

Inside the suitcase, there were blocks of silver worth £450 ($482) each and hundreds of gold sovereign and full silver coins.

It also contained over a hundred 22-carat gold sovereigns, which cost £200 each ($214), and 17 solid silver bars weighing 1kg (2lbs) that are each worth £450.

It took staff at JP Humbert Auctioneers an entire day to sort out the trove on January 25 before it went for auction on Tuesday. Most of the items will be sold individually. There were so many pieces that they are already planning a second auction next month to finish off the sales.

While many of us only manage to find enough change to make a trip to the laundromat easier, some people occasionally discover fortunes. Back in 2014, a couple in Northern California came across a metal object sticking out of the ground near the roots of a tree. After some digging, they realized that they were jars filled with gold dating back to the 19th century. The couple sold their findings for four million dollars.

Next time you are sitting on a sofa, check the cushions! You never know what you might find. Many people from the older generation tend to hide valuables in their homes, and you might be the lucky person to come across something special.

 

A Proper Copper Cup

Moscow Mule fans insist that there is only one way to enjoy the delicious, famous beverage properly. The original Moscow Mule, the Smirnoff Mule, was introduced in America during the 1940s and 1950s. The drink gained popularity during the 1960s and is again emerging as a popular drink among the younger crowd.

What makes this drink so popular and unique has nothing to do with its ingredients. Since the invention, it has been served in a copper cup. While many party-goers across the nation will settle with regular glasses or even plastic cups, they don’t realize what they are missing out on until they try one in the tradition copper cup.

In this post, you’ll learn everything you need to know about copper mugs, from the benefits of using one to the ease of care involved in owning your very own set.

Copper Mugs Are Safe

Some of asked if drinking from copper is safe for your health. The fact of the matter is that copper has zero risks. Copper is naturally in your body anyways and is necessary for some of the enzymes present in one’s body. It has been reported that many ancient civilizations thought copper brought good health, thus stored liquids in copper containers to ingest some copper as they drank their drink.

The copper lining helps not only with the taste and aroma of your beverage but also will keep the temperature of your drink colder or warmer for longer periods of times.

Buy The Right Size

While enjoying a Moscow Mule in a copper cup, it is key to make sure you pick the right size. Finding the proper balance between its ingredients is essential for a successful drink. Overfilling your copper mug might create a more exciting night than you thought you were going to have.

Cleaning Copper

Even though copper mugs are considered a specialty, this does not mean it is hard to clean them. Taking 30 seconds after using them will greatly extend their lifespan in your kitchen. With warm water and a little soap, your set of mugs will be perfect. Be sure to dry after cleaning them. What happens if you find your mug under the coach after a copper cup “rager” you had weeks ago? Do not worry. Using a mixture of lemon juice and vinegar (salt works too) and a toothbrush or a washcloth to wipe off any tarnishes.

Rinse and repeat until shiny.

Where To Buy Copper Mugs?

Walking into your local Target or Walmart probably will not be where you find your set of copper mugs. Before the Moscow Mule became more popular in recent years, the cups were hard to come by. There are now many online stores that offer them in sets of two all the way up to buying them in bulk. Whether you are having a dinner party or a 4th of July party, your house guests will be impressed with your proper copper cup.

Cheers!

The California Gold Rush: Opportunities For All

Everyone knows about the infamous The California Gold Rush. It all started in 1848 when a farmer discovered a gold nugget. This led to hundreds of thousands of people trekking to California with high hopes of digging up their fortune.

 

Did you know that many people made a fortune without looking for gold during that time?

 

Many merchants who came to the area found lots of success because of the miners around them. For it was them who enabled the miners to stay and keep digging. Whether it was food, clothing, construction supplies, medicine, or wheelbarrows, supplies were in high demand, and if you had quality items, your business was going to thrive.

 

When the massive waves of hopeful migrators made the trip west, the thought of having ample supplies or even a change of clothes were not on their agenda. These people, predominantly men, only saw the “golden dream” and nothing else. Because they would do anything to be close to the gold mining scene, merchants could charge whatever they wanted for essential items. Many dealers found innovative ways to make their personal fortunes during this giant fortune hunt.

 

The lesser known crowd, however, the ones who thought of ways they could get paid by providing services that the miners could not pass up, are the ones that will go down in history as some of the most successful early day entrepreneurs.

 

Here are a few stories of some of the most successful merchants during the great rush for gold.

 

Think about all the gold being mined all day every day. How do you think the miners transported this gold to its next destination? Depending on how much gold they have, it would quickly become a problem for them trying to maneuver. John Studebaker came to the rescue. Before he built up a successful car company, he developed and sold wheelbarrows to the miners. This proved to be monumental because, before him, they were only crude ways to move the gold from one place to another.

 

Two creative bankers wanted in on the success as well. They headed west when they realized the potential in northern California. Henry Wells and William Fargo started a bank for the miners. They had their minds set on making money off of the thousands of people who were there to get rich themselves. Today, Wells & Fargo is one of the most popular banks across the United States.

 

Many of you might own a pair of Levi Jeans. Did you know they were first made in San Francisco during the gold rush? Levi Strauss, a German-born tailor, first started off selling canvas covers for trailers and wagons, but soon realized these miners needed something sturdy. He stitched a denim product that became the pant to wear and popularity quickly spread. Now, Levi’s is a household name all across the globe.

 

The Gold Rush of 1849 brought fortune to some but many miners left with less than what they brought. Hundreds of thousands of people came and many of them left with nothing to show but the group of people who were proactive and thought quick on their feet left with a business or idea that stuck around longer than they could ever imagine.

Golden January

This week gold prices rose, and the stock market declined.

 

This week the President-elect, Donald Trump, announced that the greenback was “too strong” and investors across the world quickly poured money into gold.

 

With 2017 being a year of significant change in the political realm, it should be clear why the price of gold and the activity of the stock market would be so closely watched over.

 

It is safe to say that unless you are heavily invested in gold or consider yourself a gold geek, examining its activity all the time would be unnecessary. Every so often, however, it is important to stay connected with the prices of different natural resources, how different foreign currencies match up and the current costs of precious metals.

 

For those of you who are not watching the gold charts daily, here is a brief overview of its performance in the last week.

 

Following Trump’s  statement on cash, gold has reached an 8-week high, raising eyebrows of many investors. Of course, the more people buy gold, the more the price rises. It will be interesting to see if this current spike continues to peak or if it plateaus over the next week or so.

 

All eyes will be on the inauguration on January 20, 2017,  for some clarity on Trump’s economic plans, since investors often turn to gold as a safe-haven in times of economic uncertainty.

 

With the Chinese Lunar New Year happening later this month, gold experts and economists alike are expecting positive numbers in China.

 

Another reason why gold rose this week is continued talks on Brexit. Citizens of Great Britain and the rest of Europe are worried about the possible outcome, thus buying more gold.

 

Prime Minister Theresa May will call on Britons to reject the bitterness of the general vote in a speech that many newspapers have described it as setting the stage for a “hard” exit from the EU.

 

The unpredictable future of America and Europe’s economies have shown how susceptible the price of gold can be. To gold geeks and non-gold geeks alike, it will be interesting to see what tomorrow holds for our world’s most precious metal.

 

Spot silver rose 0.4 percent to $16.84 an ounce.

Platinum prices were firm at $983.10, while palladium fell 0.1 percent to $748.22.

Prince Loved Gold, Not Just Purple

2016 was a crazy year. Many celebrities and musicians left us. One of the more iconic ones was Prince, the purple-loving musician who’s personality lit up wherever he went, similar to how his famous purple guitar gleamed in the lights during his concerts.

 

But what did Prince love more, or just as much, as the color purple? Prince was not just a talented musician, but also had a knack for real estate investment – and maybe even was a gold hoarder.

 

One thing that stands out is the fact that Prince had gold bars in his possession. A lot of them. The music icon owned 67 10-ounce gold bars valued at $836,166, according to court documents released last week by Carver County, Minnesota courts. The documents also showed that he had zero money invested in stocks or bonds at the time of his death.

 

Normally, people have a will filed with an attorney, and assets are distributed according to said will.  

 

However, officials have announced that Prince did not have a will, which significantly changes the turnout. Not having a will makes it very hard to distribute the wealth of someone, especially when it is estimated the current numbers are well over $300 million dollars.

 

There are many unanswered questions and unresolved issues related to this situation.

 

The next scheduled hearing in this case is January 12th and hopefully some of the problems can start to be cleared up.

 

Prince has several surviving siblings who all want their cut of his fortune. Let’s hope they can figure out how to divide up the gold bars without too much fight.

Who Buys Gold?

The month of December brings many things. Winter weather, hot chocolate, cold hands, family time, and maybe even lots of gold jewelry.

 

During the holiday season, it is important to show people that they matter. The best gifts are the ones that touch the recipient the most. They say money can’t buy happiness, but it can buy gold. Give American shoppers money, and they will buy it. This philosophy works with anything, including gold. Give them lots of money, and they will buy lots of jewelry.

 

The statistics prove it.

 

A consumer’s income almost always correlates with how much they spend on gold. The more money that they make, the more likely they will buy more gold or jewelry in general.

 

The graph below shows that 28% of American households with incomes $70,000 or more account for 68% of the gold purchases annually.

screenshot-2016-12-19-12-42-18

 

Upper-class Americans love gold. The typical household headed by a professional spent $998 on jewelry, nearly double the national household average. White-collar workers tend to have higher incomes.

 

Generally speaking, Americans who have been college educated spend more money on gold. College-educated consumers tend to spend over half the national average on gold jewelry. High-school-educated spend the least while post-college educated are the highest spenders.

 

Where is gold bought?

 

The ten U.S. metros with the highest discretionary income include the following, according to the Conference Board study. These cities also are the top ten metros for diamond jewelry sales, according to information from the Diamond Information Center.

  • Washington DC
  • San Francisco
  • New York
  • Los Angeles
  • Boston
  • Dallas
  • Seattle
  • Miami
  • Chicago
  • Orlando

 

Finally, does it matter if the consumer is male or female? Married or single? Studies show that single women are more likely to buy jewelry for themselves and account for about one-third of all diamond jewelry sales.

15 Amazing Facts About Diamonds

How much do you know about diamonds? They say diamonds are a woman’s best friend, right? With the holiday season in full swing, this is the perfect time to learn more about the dazzling gemstones that we call diamonds.

Here are fifteen facts about the origin and history of diamonds:

The ancient Romans and Greeks shared the belief that diamonds were tears from the gods up in the sky, also called “splinters” from falling stars. They also believed that Cupid’s arrows were tipped with diamonds, (maybe being the earliest association between diamonds and romance.

  1. Diamonds are billions of years old. Experts have determined some diamonds are as old as three billion years old.
  1. Diamond form underground at depths at around 100 miles below and then are carried to the surface by deep volcanic eruptions.
  1. Do you know what diamonds are made of? They’re nearly 100% carbon. While under the ground, the combination of immense heat and pressure make the carbon atoms bond in a special way, causing the beautiful and rare crystal look.
  1. The Greek word, “adamas,” which means invincible and indestructible is the word that diamond comes from.
  1. That makes sense because diamonds are the hardest natural substance. The only other object that can scratch a diamond is another diamond. Let’s hope they don’t ever get in a fight.
  1. For thousands of years, the world’s population has gone crazy over diamonds. There is proof that diamonds were being looked at as valuable and sought after in India as early as the fourth century BC. In the first century AD, Roman naturalist Pliny said, “Diamond is the most valuable, not only of precious stones but of all things in this world.”
  1. Ancient Hindus used diamonds as eyes in statues they used for religious reasons. They believed that a diamond could protect its wearer from dangers.
  1. Hindus were not the group that thought that. Many ancient cultures thought that diamonds brought strength and courage during battle. Many kings wore diamonds on their armor as they rode into the fight.
  1. During the Middle Ages, diamonds were even thought to have healing powers that cured different conditions ranging from fatigue to more severe, mental illnesses.
  2. Throughout history, the countries that provided the most diamonds have changed. India was the world’s first source of significant amounts, beginning in the 1400s when Indian diamonds were sold in Venice and other European countries as popular trade items. In the 1700s India’s supply declined, and Brazil rose as the primary source of diamonds, lasting until the late 1800s when a massive diamond reserve was found in South Africa. In modern times diamonds are mined in all areas of the world.
  1. Bigger is better, right? The largest diamond ever discovered was called the Cullinan diamond and weighed in at an astounding 3106 karats. That is over 1.3 pounds! Found in 1905 in South Africa just 10 feet under the ground, the mine gave the diamond to King Edward. Eventually, the diamond was cut into nine large diamonds and 100 smaller ones. The three biggest ones are on display in the Tower of London along with the crown jewels.
  1. In 1477 Archduke Maximilian of Austria gave Mary of Burgundy a gold ring featuring an “M” spelled out in diamonds. This is the first known use of a diamond engagement ring.
  1. Natural diamonds came from the ground but did you know that there are lab-created diamonds? They possess the same chemical and physical properties as mined diamonds. Even gemologists can’t tell the difference without testing using specialized equipment.
  1. Are there diamonds on other planets? Planets made of diamonds? Scientists have discovered a planet that is composed mostly of carbon and is one-third pure diamond. Found in 2004, the planet orbits a nearby star in the Milky Way, and has the name “55 Cancrie.” What is even more fascinating is that scientists have discovered a star that is pure diamond, or ten billion trillion karats. They named the star Lucy, after the Beatles song “Lucy in the Sky with Diamonds.”

While diamonds have created a lot of joy and smiles throughout history, they often cause controversy. Communities, where they are mined, are subject to poor work habits and unethical procedures. It is important to learn more about issues that surround global diamond mining, and what organizations are doing to bring positive change.

This Week in Gold

Gold prices fell nearly 5% since election day last week, before recovering by around 1% over the past couple of days. In the stock market, gold futures are the highest they have been in almost a month as the U.S. dollar dropped.

Since Gold is considered a safe-haven asset for an investor, investments on gold are made when the future of the economy is uncertain. And since gold is an investment that offers capital gains, an increase in interest rates tends to lower the demand for it and shifts investors to different things.  

During the third quarter, the price of gold rose sharply because of global activities and raising questions regarding the world economy, such as the unexpected Brexit vote over the summer. London PM Fix gold prices averaged roughly $1,335 per ounce in the third quarter, around 23% higher since the start of the year.

Experts are expecting a spike in interest rates by December because of our job market improving. While the unemployment is still at 4.9%, a recent press release from the Federal Reserve Open Market Committee heightens the expectations for higher interest rates.  

Adding to the impact of rising rate hike expectations, the election further dampened the price of gold. President-elect Donald Trump favors several pro-business policies that could send investors in another direction. Many of the promises he made during campaigning have been well received by markets.

An expected spike in interest rates in December and a potential boost in the economy with a change at the White House is likely to limit the possibility for gold prices in the months to come.

Below are the latest charts from Bloomberg on gold and silver along with some information on other metals.

screen-shot-2016-12-02-at-8-24-44-am

 

 

  • Palladium for rose as much as 2.6 percent to $762 an ounce on the New York Mercantile Exchange, the highest since June 2015. The metal has surged 23 percent this month, heading for the biggest gain since February 2008.
  • Platinum also advanced on the NYMEX, while silver climbed on the Commodity Exchange or COMEX.

Gold Christmas Tree

There are always options for your household’s Christmas tree. Do you go with the natural tree and wrestle with it as you tie it to your car? Or do you bring the artificial one down from the attic every weekend after Thanksgiving? Most households have a tradition that they have followed for many years.

If you are in Tokyo this year for the holidays, there are is a tree that out-sparkles them all.

The Ginza Tanaka store is celebrating its 90th anniversary and has the tree displayed that is also for sale for 1.8 million dollars.  Throughout the holiday season, shoppers can enjoy the beautiful sight.

Made of 42 poundscreenshot-2016-11-24-10-04-54s of pure gold, the precious metal has been processed into 0.04 inch-thick gold wire and stands about 6.6 ft high.

“In the current situation where the global economy is suffering as a result of economic instabilities like Brexit , we made this gold Christmas tree hoping it will wipe out gloomy news and provide a bright and shiny future,” said Ginza Tanka store manager, Takahiro Ito.

The store is planning on keeping the tree on display until Christmas Day and then it will be taken down. Very delicately hopefully.

Although this tree might “top” what it has done in the past, Ginza Tanka has been known for elaborate decorations. In 2011, the store had another festive ornament that measured over 7ft tall.

It’s not the world’s most expensive tree, though – that honor goes to the Emirates Palace Hotel, located in Abu Dhabi. In 2010, the 302-room hotel displayed a 40ft evergreen decked with silver and gold bows, baubles and white lights as well as necklaces, earrings and other jewelry giving it a record value of close to 8 million dollars.

The holiday season is one to celebrate with family and friends, regardless of what type of tree you have, or if you and your family even have a tree. While there are places in the world that construct glamorous trees with gold and other precious metals, always remember that the fake tree in the big red bag outshines them all.

Precious Metals: The Group That Really W0n When Trump Was Elected

Donald Trump has been extremely vocal about his new 10-year infrastructure plan. This would send inflation up, thus helping the current state of gold, a financial fund manager said yesterday.

Even in his victory speech, President-elect reminded the million of viewers and listeners that he plans to groundbreaking a one trillion dollar spending plan that has already spiked precious metals prices up in the last week.

While there is still speculation on what lies ahead when he officially moves to Washington D.C., the consensus is that fiscal spending will be easily attainable than some of the other reforms he has proposed, said Alex Merk, president and CIO of Merk Investments. That alone will set up the appeal of gold as an inflation hedge.

“Ultimately, what is going to matter is if inflation is going to tick up more than rates are going to pick up–meaning is the Fed going to be behind the curve or not? If the Fed is behind the curve, then gold should do just fine; if however, the Fed is able to get in front of this or if inflation is not going to materialize much but the yield curve remains steep and real rates rise, then yes, the gold selling is over,” he added.

The week leading up to the election, gold prices went up nearly five percent as the presidential results rolled in but have sunk since the dollar has risen.

On Tuesday the price of gold hovered around $1,224 an ounce in Asia as people still are unsure of the future of the world’s economy.

“The uncertain environment will likely keep gold afloat,” said Merk.

“I think the world was not prepared for Mr. Trump to win this,” Gartman told CNBC’s S    Squawk Box. So money is fleeing to safer havens — it’s going to gold, it’s going to the Japanese yen.”

The U.S. dollar fell 0.6% against other forms of currency across the globe last week, while gold prices were up 2.3% in early trading. When Donald Trump unexpectedly won, gold prices spiked again.

Gold is not the only metal that could go up in price. As I mentioned earlier, Trump has spoken on his giant infrastructure plan and it is no surprise he plans to build a lot in our country. The prices of copper and steel will increase if he is able to follow through on this plan. Investing in construction, all types of metals will be used, and the demand of them will soar.

If this persists, gold prices will steadily rise because people will want to have something that keeps its value regardless of political influence.

A,U Stole My Gold

Gold and greed are two words that often times are talked about in similar situations. When you think of gold, what words come to mind? Gold is described with words such as valuable, rare, expensive, or classy. Throughout the world, it’s seen as a precious metal…both literally and figuratively. What happens when people want it so bad they would do anything to get it in their hands?

Gold has captured the imaginations of writers and filmmakers for years, but sometimes there are heists that you just can not make up. When thieves take gold, the story always makes headlines. While some are not daring, there are modern pirates, bandits, and highwaymen that risk their lives to steal large amounts of gold.

Here is the story of that even Hollywood couldn’t make up.

The Great Gold Robbery

This famous heist is quite possibly the most famous of all gold robberies, this Victorian crime took place in May of 1855 when 91 kgs of gold were stolen from closely guarded, secured railcars heading from London to France.  

Three boxes had an estimated value of 12,000 Euros at the time, which is around 2.3 million EUR in today’s market.

Because the train company was well aware of robberies, it had teams of security that checked over the boxes faithfully. The boxes themselves were protected by iron bars and two keys, that were kept separate from each other.

“The safe keys were entrusted to railway staff in London and Folkestone and also to the captain of the cross-channel steamer. It was the practice to load the safes with the guard on the night train from London to Folkestone”.  British Transport Police

After the boxes were sealed and weighed twice for exact measurements, the train set off  to Folkstone, where they were kept under the watchful eyes of armed guards. At Folkstone, they were placed onto the Lord Warden steamship to finish the trip to France.

Upon arrival in Boulogne, France, it was discovered that one of the three boxes weighed roughly 40 pounds less than previously recorded. The other two boxes both weighed more than they had previously weighed. Regardless, they continued shipment to Paris.

Once the gold had been dropped off at its final destination in Paris, the bankers found themselves in a big crisis. To their horror, much of the gold has been stolen and replaced with pieces of lead. They were in utter shock because the iron bars that were put in place to stop entry  were all intact with no damage.

Because there was  no damage to the boxes and no keys being reported missing by the trust railroad crew members, this quickly became more exciting and confusing than investigators wanted it to be.

Since the weight had changed between London and Boulogne, British police were in charge of the investigation. Throughout the lengthy ordeal, hundreds of suspects were questioned but only four were charged.

Edward Agar is the criminal mastermind behind the heist. He recruited William Pierce, a ticket printer, who he had met years before. They had discussed robbing the train en route to Paris from London. Two other men were later recruited, James Burgess, a train guard, and Williams Tester, the Margate stationmaster. Agar also enlisted the help of James Townsend Saward, a crooked  criminal lawyer who helped get rid of the stolen gold.

The team hid bags of lead made of leather and carpet material at London Bridge station. They knew the amount of gold that was going to be transferred and had enough lead stockpiled to match that amount.

On the night of the robbery, Agar and Pierce bought two tickets to the train, and by doing so enabled them to give the bags to Burgess, who was working on-site.

Because the criminal crew had two train station workers, they were able to make wax copies of the keys for the iron “cages” that contained the gold. During the train rides, the team carefully snuck in, used the fake keys, and switched the gold for the heavy lead in order to keep the weight as close as possible.

As the train made stops in different cities, as many trains do, the men would get off the train as soon as they had carried out their specific assignments. Within a week, the four met at Agar’s house in West London and built a furnace. For the next three days, they melted down the gold, probably laughing at the stupidity of their clueless foes.

To this day, it is one of the most talked about gold heists, not just in Europe but all over the world. After the robbery, security concerning transportation of gold grew rapidly. There are stricter regulations with processes and who handles the logistics of any type of moving of the world’s most precious gold.

Although security has heightened and with technology at all time highs, greed will always be around and as long as gold is being mined, history says criminals will continue to try to take what isn’t theirs.

Invest in Your Future With Gold

Voltaire (1694-1778) famously said, “paper money eventually returns to its intrinsic value — zero.” Does the famous thinker have a point?

Experts all over speculate  the potential death of modern currency, so there has never been a more crucial  time for you to hold onto the one resource that has existed for thousands and thousands of years–gold.

In other words, investing in gold and other precious metals is  the best way to protect yourself from a  potential currency debacle.  Many financial analysts believe that it is the most sensible option, with bullion prices expecting to rise over time.

The more talk that tradition currency is heading out the door, the more valuable gold will become.

Another key reason to buying gold is due to the fact that it is  universal money, a tangible store of value and wealth protection. While a Euro won’t get you far in America, no will turn down gold, regardless of where you are in the world.

During a crisis, gold bullions tend to increase in value. During turmoil, , countries lose a lot of money but having a  gold supply will give them something  to fall back on. The same is true for someone of the general public for their personal assets.

Remember, gold is not created by governments, nor is its dependent upon governments. All of today’s government issue paper currencies (dollars, euros, yen, pesos.) Currencies have no tangible value and are backed by government decree, mostly legal tender laws. In the past, governments have issued too much paper currency and over time, paper currencies’ value decrease,  until they are ultimately worthless. The average lifespan of a currency is 27 years, while gold is eternal.. Don’t believe it? The same gold discovered hundreds of years ago is still in rotation.

Anyone can buy gold. If you have the money, you can make the purchase. You can also invest in gold privately and anonymously if that is something you are interested in. Buying gold can be done online or in person, making it an easy process for anyone.

Gold is extremely easy to move, able to liquidate quickly, and easy to store in one’s home.

Whether it is politics or  market demand, governments around the world have always bought  large amounts of gold. Gold experts speculate this will only grow in the future.

Returning to a currency system centered around gold could cause the value of gold bullion to spike considerably in years ahead.

“Buy low, sell high.” That is what they say when it comes to the stock market. The same saying can be used when it comes to gold. With the market at record lows, now is a great time to purchase gold and invest in your future.

Digging For Gold: There Are More Ways Than One

Although it is impossible to know exactly when humans first started mining gold, we know that it has been around at least 7000 years ago.

 

That makes sense. Gold, being the most popular precious metal, is highly coveted for jewelry, currency, and many things in between to people all across the globe.

 

During the 19th century, many gold rushes in regions all around the world caused migrations of people wishing to strike gold. Some examples are the Victorian Gold Rush, the Klondike Gold Rush, and the one everybody knows about, the California Gold Rush. When gold was discovered at the Witwatersrand, not only did it initiate a war, it also helped start South Africa as a country.

 

California is not the only place in the U.S. where tons of gold have been found. In 1961 the Carlin Trend in Nevada was discovered. Officials indicated that total world gold production since the beginning of human civilization has been 4,970,000,000 troy ounces. Nevada’s production is three percent of that, which ranks Nevada as one of the largest gold producing regions in the world.

 

Prior to the 3rd century AD, people in India mined gold by digging small pits. Since then, technology has made mining for gold much easier, and safer!

 

A very common process that is popular all around the world is panning. Wide, shallow pans are filled with sand, dirt or gravel that may contain gold. The person holding the pan then puts it underwater and shakes it, hoping there is gold present. Gold is much denser than rock so it would sink to the bottom of the pan.

 

Although popular, panning is not commercially viable for mining gold from large areas, except in situations when labor costs can be very low or if there is a lot of gold to be found. Panning has been used a tourist attraction on old gold fields.

 

Sluicing is a process where gold miners extract gold from placer deposits. The majority of it is commonly used in small-scale mining.A sluice box is a manmade “channel” with riffles set in the bottom. These riffles create dead areas in the water current to allow gold to fall down. Less dense materials flow out of the box as tailings.

sluice

When water is not accessible, a Rocker box, also called a cradle, is used. Areas with little water tend to use this system, relying on a rocking motion and gravity to separate the gold from other debris.

 

Hard rock mining is the force behind the majority of gold production. Gold is extracted from rock, rather than from loose sediment. Sometimes open-pit mining is used while other gold mines use underground mining, which uses tunnels and shafts.

 

South Africa has the deepest hard rock gold mine at 12,800ft underground. The heat at that distance down is so unbearable that air condition is required for humans to be able to mine.

 

Whether you a large gold mining company, such as Barrick Gold or Newcrest Mining or a tourist in Nevada who wants to try your luck at panning for gold, there is a way that fits you.

 

Just whatever you do, if someone says they’ve been digging for gold, you might want to be sure they wash their hand before you shake it.

This Week in Gold

This Week in Gold

 

Precious metals futures changed little Friday, but they fell for the week. Gold logged a sixth straight loss, settling at a four-month low, and scored its worst week in over three years.

 

Last Friday gold scheduled for delivery in December dropped $1.10 or less than 0.1%  to settle at $1,251.90 an ounce on the Comex division of the New York Mercantile Exchange. This is the weakest since June 7th. Gold advanced early Friday after the Labor Department said the U.S. economy added 156,000 jobs last month, down from 167,000 in August.

 

Gold prices are in a second week of declines–5% this week and 1.8% last week. The lost this week is the biggest since September 13, 2013. Still, gold is 18.1% higher than where it was in late 2015 at 1,060.20 an ounce.

 

In looking ahead to next week, Kitco News offers the following forecasts via their Wall Street vs. Main Street survey:

“Eighteen analysts and traders took part in a weekly Wall Street survey. Fourteen participants, or 78%, called for gold to rise next week. Three voters, or 17%, look for lower prices, while one, or 6%, sees gold sideways.

Meanwhile, 463 Main Street participants submitted votes in an online survey. A total of 264 respondents, or 57%, said they were bullish for the week ahead, while 137, or 30%, were bearish. The neutral votes totaled 62, or 13%.”

Coming in from a 3 ½-month low, silver for December delivery on Friday brought in 3.5 cents, or 0.2%, to settle at $17.38 an ounce. With that being said, silver sank 9.6% this week after a 3% fall last week. Despite two weeks of declines, silver is $3.58, or 25.9%, higher than its ending in 2015, which was 13.803 and ounce.

  Both platinum and palladium remain high this year with gains of 7.8% and 18.8%, respectively.

London Precious Metals Prices

London precious metals prices were mixed. In comparing their levels from Thursday to Friday:

  • Gold rose $4.25, or 0.3%, to $1,258.75 an ounce.
  • Silver fell 43 cents, or 2.4%, to $17.33 an ounce.
  • Platinum added $2, or 0.2%, to $975 an ounce.
  • Palladium gained $7, or 1%, to $674 an ounce.

Their weekly losses equaled 4.8% for gold, 10.4% for silver, 5.7% for platinum and 6.6% for palladium.

US Mint Bullion Coin Sales in 2016

With lower prices, U.S. Mint distributors ordered a lot more bullion coins in the last week. Weekly sales of the Mint’s gold and silver coins were highest since as early as January, when new editions launched.

 

  • Gold coins advanced 53,500 ounces from 32,500 ounces last week. This week’s splits include 45,500 ounces in American Gold Eagles compared to 28,000 ounces and 8,000 ounces in American Gold Buffalo compared to 4,500 ounces previously.
  • Silver coin sales advanced 1.41 million ounces after climbing by 367,500 ounces previously. The weekly splits include 1,405,000 ounces in American Silver Eagles compared to 370,000 ounces previously and 5,000 ounces in America the Beautiful Five Ounce Silver Uncirculated Coins compared to negative adjustment 2,500 ounces.

Welcome to The World’s Most Secure Vault

 

 

If you ask someone what Fort Knox is, they’ll probably tell you it is where American keeps most of its gold locked up. Past that, most information is kept behind lock and key. Here is more information on where according to the U.S. Mint, where $261.6 billion dollars worth of gold is stored.

 

In 1933, during the Great Depression, President Franklin D. Roosevelt outlawed the right to own any gold coins, gold bullion, or gold certificates. This forced American citizens to sell their private gold back to the Federal Reserve. From 1933 to 1937 the value of gold that the Federal Reserve had rose from four billion dollars to 12 billion dollars. The issue that they ran into was that they simply did not have space to keep all the gold. (What a nice problem to have…)

 

In 1936 the United States Government took land that was already a part of Fort Knox, the Army base in Kentucky and started construction on the United States Bullion Depository.  Construction cost $560,000 and was completed in December. It’s encased in 16,000 cubic feet of granite and 4,200 cubic yards of cement.

 

Starting January of 1937, gold was gradually shipped from across the country. The majority of transfers used rail cars and were sent by registered mail. These trains were protected by the U.S. Postal Inspection Service and U.S. Treasury Department agents.

 

Once gold is in the building, it is virtually impossible for someone to steal any. The vault door weighs an astounding 22 tons and made of a 21-inch-thick material that is resistant to drills, torches and explosives.

 

Don’t try to come in through the ceiling either, it features a bombproof roof as well.

 

Additional layers of physical security include: video cameras, minefields, barbed wire, electric fences, armed guards – even unmarked Apache helicopter gunships.

 

Gold is not the only thing that has been safely guarded in Fort Knox. Over the years, it has served as a temporary home to the original Declaration of Independence, the U.S. Constitution, original copies of Lincoln’s Gettysburg Address, and crown jewels from European nations, proving the security of the property.

 

With there being 44 Presidents, only two have visited. Franklin D. Roosevelt and Harry S. Truman. In order for anyone to visit, a Presidential order is required to gain access. It would not be a good idea to attempt to breach Fort Knox’s several lines of defense.

 

Only one man has ever tried to break into Fort Knox. His name was Goldfinger.

 

With Goldfinger being the only one with an attempt under his belt, it looks like we will have to continue to just read articles, watch documentaries and create our own opinions on the gold fortress in Kentucky.

 

Swiss Sends U.S. Gold

Normally the United States exports more gold than Switzerland. This summer has proved to be different.

In May alone, the Swiss sent 20.7 tons of gold across the pond to America. (Can you imagine the security on that boat!) Just two months later, the Swiss sent 23.8 tons of gold over to America. This amount of gold had not been exported to the states since the year 2000 and definitely created global conversation. Why did this happen?

Gold import numbers were on the incline.

Total imports of US gold exploded in May with 50 tons, twice as much compared to April 2016 which 26.5 tons were imported.

With import numbers swelling, gold exports from the US fell to lows in May with 20.2 tons. Total exports of US gold in January to May 2016 totaled 139 tons compared to 195 in the same period of 2015. This is noticeably lower than years in the past.

Back in 2013, the U.S. exported a record 691 metric tons (mt) of gold. Switzerland received 41% of that, or 284 mt. Compare that to the paltry 3 metric tons exported from the Swiss and you will understand the significance of the past summer.

Why is more gold being exported into America?

After the Brexit vote for the U.K. to leave the European Union (In June), it has also put a lot of stress on investors holding assets within Europe. Wealthy Europeans who are in possession of gold are worried with the current political situation. Gold bullion is now flowing into the United States from Switzerland in record volume for the first time in many years.

Switzerland recently has high interest rates on gold. This is another reason why gold investors are sending gold to the U.S.

The transportation of gold is something that is common around the world and has been done for a long time. Many countries do it because they trust American banks and other secure locations more than they would in their countries. Some do it to bypass strict financial rules or high interest rates.

As long as there is trust, transparency, and the need to do it, importing and exporting gold between countries will always be a part of global trade.

Golden Art at The Guggenheim

People have always been obsessed with gold and often times go to great lengths to create extravagant gold pieces, from jewelry to clothing, and even art. Last Friday however, the Guggenheim Museum went to new heights with installing its first gold toilet, while made of solid 18 carat gold, is fully functional and can be used by the general public.

 

Italian artist, Maurizio Cattelan designed and made the toilet in Italy. Two toilets were shipped to Italy and Cattelan cast the toilet in several pieces before he welded the pieces together.

 

Cattelan named the golden throne, America. Are you wondering why? He says it represents Donald Trump and is meant to highlight what the museum describes as Americans’ increasing obsession with wealth and excess. According to the museum’s press release, “the aesthetics of this ‘throne’ recall nothing so much as the gilded excess of Trump’s real-estate ventures and private residences.” It is known that The Donald has gold chairs in his Manhattan penthouse.

 

In Cattelan’s words the toilet is “one-percent art for the ninety-nine percent person.”

 

According to the museum, the toilet is available to general visitors at the museum and is not to be confused with being a “no touch” exhibit. Located on the fourth floor in a standard stall, museum goers who need to use the bathroom can use America.

 

Although it is hooked up to the regular plumbing system, this is no cheap commode. With today’s gold prices, this special toilet is in the price range of anywhere between $1,474,592 and $2,527,872. Talk about a pricey potty…

 

A security guard stands outside the door reminding future users that even though they can use it, it is a piece of art. The toilet is checked for foul play in between every use. Every 15 minutes, the toilet is cleaned by a museum staff member who uses special wipes, rather than using heavy duty chemicals, to keep its shine.

 

Cattelan is not the first person to create a golden toilet. Numerous kings and political leaders in the Middle East and Hollywood celebrities in the Middle East have made headlines for spending millions on golden toilets and other bathroom accessories. Some were given as wedding gifts while some were installed in their very own homes.

 

Well, while rest of the world’s golden toilets were reserved for the uber rich, Cattelan’s work of art can be used by the common man.

 

Covering the Gold

If someone told you the gold medals at the 2016 Rio Olympics and Paralympics, underway right now, weren’t gold, would you believe them?

 

“Gold medals are made out of sweat, blood and tears and effort in the gym every day,” said Olympic gymnast Gabby Douglas.

 

Gabby is half correct.

 

The medals given to the world’s best athletes this year are a fraction of what they once were. To make them entirely out of gold would cost over $22,000 a medal, a practice that stopped after the 1912 Olympics. By taking silver medals and plating them with small amounts of gold, the price of production of current gold medals is closer to $600. Athletes do not seem to mind. During the 2002 Salt Lake Olympics, hockey legend Wayne Gretzky said “the gold medal is everything.”

Each of the Olympic gold medals are covered with six grams of gold (the minimum required by the International Olympic Committee) with 99.9 percent purity. The remaining 494 grams is made of silver with 92.5 percent purity (the standard for sterling silver), according to the Mint of Brazil.

The Rio Olympics had a total of 2,488 medals produced (812 gold, 812 silver and 864 bronze) by the Mint of Brazil. All of the medals are the same size and weight, with a diameter of 85 millimeters and a weight of 500 grams, making them the heaviest medals in the history of the Summer Olympics and tied for the largest medal in all Summer games.

There is no way to put a measurable dollar’s  worth on an Olympic gold medal.

Actually, there might be.

Prices range varies depending on who won it and even what sport. A “common” gold medal-think water polo or archery, with a non-famous athlete behind it, sells for about 10,000.

Rarer, older medals can go steeper in price.

Ukrainian boxer, Wladimir Klitschko put his gold medal up for auction four years ago for a cool one million dollars. One of Jesse Owen’s gold medals from the 1936 Berlin Games was sold for 1.47 million dollars three years ago. One of the “Miracle on Ice” gold medals was expected to sell for 1.5 million this past summer but failed to do so at auction. Michael Phelps, who announced retirement after winning his 23rd gold medal in Rio, could sell some medals in the future, although with his endorsement list, he seems to be in good shape.

Although gold medals are not truly gold, the story of winning each one makes it nearly impossible to give a real money value on them. If you are willing to look past the sentimental value, GoldBuyerOK is the best place to go to sell your gold.

This week in precious metals

Headlines from June 18 – 22:

  • The case for adding precious metals to your portfolio (Bloomberg)

Chris Gaffney, EverBank World Markets president, said people might want to add precious metals to their investment portfolio because of its cyclical nature. Looking back through the year’s ratio between gold and silver, Gaffney predicted that silver has more room to catch. The expanding economies in India and China leads to growth potentials for demand for gold and other precious metals, according to Gaffney.

JPMorgan has appointed its top oil trader as the new head of its commodities division, the latest move in a business that has reinvented itself since selling the bulk of its physical operations two years ago.

  • Gold at a three-week low (Kitco)

Gold prices ended the U.S. day session lower and hit a three-week low Wednesday. The yellow metal was weighed down by a rallying U.S. dollar index this week and by the better risk appetite seen in the world marketplace the past couple weeks.

As mentioned by the automaker, the Cayenne Platinum Edition (PE) gets a like-to-like design with the RS Spyder, mostly recognized by its 20-inch wheels. “With purposefully selected materials. For an even greater sense of style. With eye-catching details, like the Porsche Crest on the headrests. For that certain ‘je ne sais quoi’.”

silverscrap

Capitalize on the rising silver prices

Start digging out your silver and gold to sell at your local gold buyer and capitalize on the rising prices in silver and gold that has investors flocking to the precious metals.

First things first, know and understand what you are looking for before starting your search. Sterling silver is the only silver worth your time and effort, so look for stamps that say “.925” or “sterling” on your items. Sterling silver is silver of a special quality, over 90 percent made of pure silver, making it especially perfect to sell as scrap metal.

Your home may be its own “gold-mine” for silver so-to-speak. Search through drawers, closets, attics and basements to uncover silver or silver-plated items. Here’s what to look for:

Old, Unwanted or Broken Jewelry

Old, broken jewelry is still one of the easiest and fastest ways to find a precious metal that you’re looking for, whether it be silver scraps, gold or platinum. Silver can be found in cuff links, silver earrings, bracelets, rings, watches and other miscellaneous items that you don’t need to use anymore.

Broken (or simply unwanted) jewelry is particularly valuable for scrap silver because you won’t need to make any repairs to the jewelry in order to sell it. When selling precious metals, it’s not the functionality of the item that matters, but the metal the items contain.

Sterling Silverware

Old or antique silverware sets are perfect candidates for selling precious metals. If you’ve upgraded your silverware set for something more modern and kept your old sterling silverware set because you thought it might pay off, you’ve now found the way to make it pay off.

Pins, Clips and Wire

You’ll also be able to find silver prevalent in clips, pins and wire around the house. If you have any large quantities of these miscellaneous scrap pieces.

Keep your eyes peeled for these objects, as they’re usually smaller and more inconspicuous. If you do herd this kind of scrap silver into your selling pile, make sure that you actually are able to throw in a sizable amount. It’s fine to toss one or two small silver objects you found, but a small silver pin or other similar object won’t be able to profit you much.

Hint: You can also search local garage, yard and estate sales for these items. Look for inexpensive bulk purchases of silver jewelry or decorative items that are tarnished or are labeled as “.925” or “sterling.”

Selling your Scrap Silver

Once you have searched through your silver to find any silver you can spare, you should have a pretty sizeable amount of silver in your possession – even more than you originally thought you would find. You’re ready to sell it now.

Once you are, take your scrap bin to GoldBuyersOK and get the items appraised and sold, with money to spend.

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Gold and wedding traditions

It’s wedding season! As couples begin their journeys in life together, their loved ones shower them with love and gifts. And in many cultures, this ceremonial recognition of love is also an avenue for a plethora of gold!

Gold has always been powerful stuff and has frequently accompanied the most lavish of parties and celebrations throughout history. Humans almost intuitively place a high value on gold, equating it with power, beauty, and the cultural elite. While the earliest history of human interaction with gold is long lost to us, its association with the gods, immortality, and wealth itself are common to many cultures throughout the world.

Gold, being one of the few items that transcends all cultures, has its own place – whether fully adorned or in superstitious scarcity – in cultural celebrations around the globe. Here are a few of the unique wedding traditions involving gold:

  • An old Hindu belief states that no gold object should be worn below the waist. That is why some say that bichiya – toe ring – should not be made of gold. Nowadays many do not care about it anymore, however, and toe rings made of gold and diamond are common.
  • In Italy, gold adornment is said to bring bad luck. Therefore, the bride does not usually wear gold.
  • In Finland, however, the future bride wears a golden crown.
  • There is an old Swedish wedding tradition in which the bride walks with coins in her shoes. Her father puts a silver coin in her left shoe, and her mother puts a golden coin in the right shoe.
  • Norwegian brides traditionally wear a silver or gold crown to accompany her white or silver wedding gown.

These are only a few wedding traditions involving gold. Some cultures bestow gifts of gold bars upon newlywed couples, while others have steered away from gold and began tying paper money to money trees.

Regardless of the tradition, though, gold is still a very prominent participant in the celebrations worldwide of the union of two people. Take note and maybe buy a gold bar to bring to the next wedding you attend!

This week in precious metals

Headlines from June 4 – 8:

  • SNL: Producers’ average AISC $833 per gold ounce in first quarter (Kitco)

Most gold-mining companies continued to reduce expenses in the first quarter, with the all-in sustaining cost per ounce for the top 17 publicly listed gold companies coming in at a weighted-average of $833 an ounce, according to a report from the mining consultancy SNL Metals & Mining.

  • Gold ends solidly up at 3-week high on bullish outside markets (Kitco)

Gold ended the U.S. day session solidly higher and scored a three-week high Wednesday. The precious metals were boosted by bullish outside markets that saw higher crude oil prices and a lower U.S. dollar index. In fact, most of the raw commodity futures markets were in rally mode today, which added to the upside pressure on the metals. August Comex gold was last up $16.10 an ounce at $1,263.10. July Comex silver was last up $0.611 at $17.00 an ounce.

  • International Precious Metals secures entire mint box of rare Gold American Eagle Coins (Market Watch)

International Precious Metals (IPM), a leading provider of rare certified coins and physical precious metals, announced today that they have secured an exclusive allocation of Edmund C. Moy Signature Label 2014 $25 American Gold Eagle coins. With a mintage of only 35,000 pieces, they’re one of the lowest minted Gold American Eagle coins ever produced and have replaced the 1996 $25 piece as the third rarest “Key Date” $25 Gold Eagle.

Two Palm Beach County residents and a Massachusetts man are facing civil charges in an alleged $3.7 million precious metals and rare diamonds fraud, according to the U.S. Commodity Futures Trading Commission. The charges include fraud, engaging in illegal, off-exchange transactions in precious metals, and acting as futures commission merchants without registering with the CFTC as required.

estate-jewelry

Steps to liquidate and appraise an estate

Decided what to keep and what to sell is one of the many difficulties involved with losing a parent. But the process does not have to be as draining as you might think.

There are many methods of liquidation that people use in these situations.

Some people sort through everything and facilitate the sales themselves through selling items online or at a yard sale. A smoother process, though, is to hire an estate liquidation company to stage a sale – like McNeil Liquidations in Edmond.

Of course, it’s always beneficial to talk to people you know who who may be able to recommend companies to find good, experiences liquidators. Then cross-check those lists with reviews online. Not all liquidators will be appraisers, but the best ones should at least have one on speed dial.

Regardless of if you decide to manage the sale yourself or hire a professional, though, it is important to have your items cataloged, researched and appraised so that you have a better idea about what types of offers your should expect and accept.

A word of advice: Don’t shortchange the things you think look worthless. It is far better to have something appraised as worthless than to assume that something is and later find out it was worth thousands of dollars.

Finally, after the estate sale, the remaining items can be reevaluated to do one of three things with:

  • Sell items to a gold buyer. The items that were appraised may be able to be sold directly to a gold buyer. We accept more than you might think!
  • Donate items to thrift stores. Anything that functions well, but isn’t worth the time and effort to try selling away, can be donated to places like Goodwill and Salvation Army.
  • Discard the rest. After all is said and done, whatever you haven’t kept, sold or donated can likely be discarded.
Invest in gold - bank gold bars bullions on dollars

Guide: Bullion investments

Like any and all investments, investing your money and diversifying your risk with bullion can be lucrative, depending on your strategy. The following is a guide to investing in bullion:

What is a bullion?

A bullion is simply gold (or silver) valued by purity and weight, which differs from other forms of gold, such as jewelry or currency, whose value comes from other factors, including aesthetics. When buying gold bullion, you’re paying only for the market value of the gold plus the minor costs of manufacturing the gold into its current form – its purest form. Bullion often come in bars or coins.

Investment goals

The simple aim of any precious metal investment is to buy when prices are low and sell when prices are high. However, life and the markets are never simple or easy to predict. Precious metals are best regarded as a long-term investment. Bullion tends to move on a different track than equities and other commodities, which makes it very useful hedge against losses in other investment classes.

Ownership of physical bullion

The benefits of owning gold bullion or coins in the long run include:

  • Inherited value will increase over time
  • Physical gold balances the performance of your portfolios
  • Peace of mind against paper stock volatility and bank failures
  • Private asset comes with minimal reporting requirements
  • Physical gold benefits from nominal spreads

ETF ownership

The ETFs are a type of investment fund typically traded on the stock exchange market. The ETF acts like an open-ended mutual fund where all the money gathered from the entrepreneurs is invested in gold. Advantages of holding gold ETFs include:

  • Investing in ETFs means you don’t need to pay charges
  • Easier to sell off gold ETFs
  • Purchasing ETFs when the currency is weak provides a good support for your portfolio
  • ETF constitutes a good short and medium term investment because of their liquidity
  • Buying ETFs involves paying a fixed amount, price variations do not affect them
  • ETFs are more tax efficient overall

How to sell

It is important to invest with a supplier that has a transparent, liquid market for buying back bullion at favorable rates that do not disadvantage the holder. You will often discover that companies who sell bullion to you, particularly in the case of bars, will discount the market price by only 2% or 2.5% if you bought it from them.

This week in precious metals

Headlines from May 9 – 12:

  • Donald Trump behind this year’s rally in gold? (Kitco)

Donald Trump’s popularity might be the reason for the rise in gold prices since the start of the year. The metal is up 20 percent year-to-date and some analysts believe that Trump’s success in the presidential race is bringing about uncertainty. During uncertain times, investors flock towards the “safe-haven asset” of gold. On the flip side, the rise in gold may have more to do with the Federal Reserve’s recent indications that it won’t hike short-term interest rates so soon, amid global growth worries.

  • Gold pushes above unchanged as jobless claims data dents U.S. dollar (Kitco)

Gold prices moved to higher levels on Thursday, after trading moderately lower in overnight action. A significantly downbeat U.S. jobless claims report released just after the Comex gold futures market opened put downside pressure on the U.S. dollar index, which in turn helped to lift gold prices above unchanged. June gold was last up $1.70 an ounce at $1,277.20.

The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in May. These operations are aimed at ensuring the operational readiness of the TDF and providing eligible institutions with an opportunity to maintain familiarity with term deposit procedures. On May 19, 2016, the Federal Reserve will conduct a floating-rate offering of term deposits with an early withdrawal feature through its TDF. The Federal Reserve will offer seven-day term deposits with a rate set equal to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point.

This week in precious metals

Headlines from April 25-April 30:

  • Shoar antimony project to include precious metals recovery (Zawya)

The promoters of a major antimony roaster plant currently under development at Sohar Freezone have announced plans for the incorporation of a precious metals recovery process that will allow for the production of gold and silver from feedstock, in addition to antimony as the primary product. The move, which was green-lighted by the company’s Board of Directors on Thursday, promises to generate a new revenue stream from the project, as well as position the Sultanate as an emerging producer of bullion.

  • Precious metals climb on weak dollar; silver at 15-month high (Platts)

Precious metals were all higher Friday morning, supported by a weaker US dollar, gold touching seven-week highs of $1,280 per ounce, while silver continues to outperform, hitting 15-month highs close to $18 per ounce. As currency investors continue to mull the US Federal Reserve’s hesitation to raise interest rates this month, in addition to the Bank of Japan’s surprise decision to keep rates steady Thursday, the dollar has weakened to multi-month lows.

  • BYD- changing the game for lithium and cobalt? (Kitco)

The Tesla’s Model 3 pre-sale rekindled a hype around electric cars last month, leading to higher prices and concerns for lithium, but there is another metal investors should keep an eye on. Cobalt, remains even more of a question mark, one that perhaps not enough market participants fully recognize as of yet. While Tesla captivated the media with several hundreds of thousands of preorders for their lithium-cobalt battery-based Model 3.

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Unexpected Gold Around the House

Gold prices have been increasing by more than 70 percent in the last three years, and consumer demand for gold jewelry has increased by 13 percent, while the demand for golden bars and coins spiked 26 percent. With these different events forecasting a good market to sell gold in, it  leaves the question of what to sell. So, where can you find gold around the house?

The Unlikely Candidate

You may be surprised how much gold is contained in some of those old trophies and “participation” metals you’ve thrown out in the garage. According to a Huffington Post article, the famous Oscars statues contain approximately an armful of gold. Although, these Oscars may be covered with a thin layer of gold and contain a much cheaper, more common metal inside. Gold plating – using a gold coating and another metal for the bulk of the object – is something to look out for when selling gold and silver jewelry as well.

Don’t Underestimate the Jewelry Box

Of course, it is best to start with the most likely source of gold in your home: your jewelry box. The vast majority of gold jewelry has a stamp indicating whether the item is made out of gold, which ranges from 5K to 24K. Even your broken and mismatched jewelry has value in its internal contents.

Coin Collections are Made to be Broken

While not abundantly common for selling purposes, coins can have traces of gold and silver that can pay off. Although most American coins still in use today are made out of copper, if you are a coin collector, there is a pretty good chance that you have at least some gold. For instance, many foreign countries still use gold bullion coins, which are more profitable to sell than American currency.

gold_bullion

What is a “bullion”?

A bullion is simply gold (or silver) valued by purity and weight, which differs from other forms of gold, such as jewelry or currency, whose value comes from other factors, including aesthetics.

When buying gold bullion, you’re paying only for the market value of the gold plus the minor costs of manufacturing the gold into its current form – its purest form.

Gold bullion comes in different forms, most commonly bars and coins. Each type has different benefits and downsides.

Gold Bullion Bars

When you envision pure gold, images of big shiny gold bars most likely pop into your head. That’s what they show in the movies at least, and it’s actually not too far removed from reality. Bullion bars provide a great way to efficiently purchase large quantities, and they’re pretty easy to store.

However, gold bullion bars can be difficult and costly to liquidate when you’re ready to use and/or sell them. Also, while they do come in a range of sizes, they tend to come in larger sizes than coins, making them less versatile. Overall, they’re more appropriate for serious gold investors.

Gold Bullion Coins

The only real difference between coins and bars is that coins have a different shape and are smaller. They are also produced by different entities, including the United States and Canadian governments.

United States American Eagle Gold Bullion Coins contain their stated weight in gold, plus some alloy to help them hold their shape and ward off damage, making them just under 92% gold. They’re the only coin world-wide whose “weight, content, and purity are guaranteed by the United States Government.” The value of these coins is whatever the current market price for gold is, plus a small amount to cover production costs.

There are other types of coins too, including the highly desired Canadian Maple Leaf Gold Bullion coin. Since they’re smaller and already in usable form, coins are easier to liquidate and use than bars. Because of their versatility, gold coins are a good way for beginners to venture into the world of gold investing.

To sum it up: when you’re looking around at different gold investment options, don’t be intimidated by the phrase “gold bullion”—it simply means gold in its purest form, valued by its weight and quality.

This week in precious metals

Headlines from March 28-April 1:

  • Gold lowers following as-expected U.S. jobs data (Kitco)

Gold prices are lower in early U.S. trading Friday and saw some added selling pressure from overnight losses in reaction to the just-released U.S. employment report that was in line with market expectations. The U.S. employment report for March is arguably the most important economic report of the month.

A stronger than expected March U.S. employment report sent the dollar higher against most of its developed and emerging-market rivals this week. Investors cheered the jobs data, saying it shows the U.S. economy has remained resilient even as growth slows abroad. However, the jobs report also indicated an increase in unemployment from 4.9% to 5%, due to a rise in participation. The numbers show that the U.S. inflation is on track and continuing to rise.

  • Precious metals funds emerge as a powerful leveraged gold play (Investment News)

As a broad category, equity precious-metals funds have lapped the field since the start of the year, cranking out an average gain of more than 36%, according to Morningstar. The category performance more than doubled the 15% gain by the next best category, commodities precious metals, which includes just one fund. As should be expected, there is a bit of performance dispersion among the funds populating the equity precious-metals category.

  • Zinc plants expansion and precious metal stockpile sales update (PR Newswire)

The Zinc Expansion Project enables processing of the primary copper-zinc-gold-silver ore at up to 2.4 million tonnes per year, producing both copper and zinc concentrates from the existing copper flotation and new zinc flotation plants. Current reserve life with the completed Zinc Expansion Project is to 2025. The forecasted total cost remains approximately $80 million, significantly under the original budget of $100M.

When to sell estate jewelry and items

Estate pieces

As we navigate the hard times following the loss of a family member, there comes a point in which estate items need new homes as well. Whether it’s the never-been-used silver tea set, the white gold vanity tray or various pieces of valuable jewelry, Gold Buyers OK is dedicated to understanding your specific situation and giving you the best price for your previously owned items.

When to sell

Selling pieces that have sentimental value is not easy. The most important part of the process of selling estate jewelry and items is the separation of things that hold sentimental value and the items that need a new owner. This process takes time and consideration as you determine what to hold onto and what to sell. After distinguishing between items with continued personal value and those with potential selling value, appraisal is the next step. At Gold Buyers OK, we appraise jewelry and items absolutely free, while you shop around for the best price, which we offer.

Determining value

The value of your estate jewelry largely depends on three factors. First, your jewelry’s rarity and how big a demand there is for the item can determine value. Second, the company who created your item could add to the value of items. Finally, the intrinsic value of the gemstones and precious metals can create a higher price point.

Even broken items hold value, since the jewelry industry is one of recycled materials. Damaged jewelry is bought for intrinsic worth of metals and gems.

Our Process

At Gold Buyers OK, we are dedicated to giving you the best prices for your estate jewelry and items. Though, our free appraisal allows customers to shop around to find the best price for their previously owned items. Our staff aims to provide the best service to each our customers, particularly in their time of selling estate items.

Einstein was right, proven by precious metals

ESA_LISA_Pathfinder

After a century, scientists have finally proven one of Einstein’s theories, thanks to gold and platinum.

In November 1915, Einstein presented his general theory of relativity, known as the spacetime continuum, which introduced a new understanding of one of the main forces in nature known as gravity.

The European Space Agency (ESA) announced the detection of gravitational waves in space on Feb. 11, as theorized by the great physicist Albert Einstein 100 years ago.

“Gravitational waves are elusive no more: an exciting breakthrough that has been 100 years in the making,” ESA’s press release stated.

The LISA Pathfinder spacecraft, which is made up of g0ld and platinum cubes, was launched in December with the mission to study the gravitational universe.

“LISA Pathfinder will monitor…two identical gold-platinum cubes measuring 46 mm on each side and weighing 1.96kg each – as they free fall through space,” the agency said.

At current prices, that amounts to $152,000 worth of gold and platinum, according to Kitco.

Gold is a hot commodity

 

When looking to buy or sell gold, it’s important to know what is happening in the market involving the commodity. In the last few weeks gold prices have skyrocketed because of the volatility of the market. It’s a good time to sell gold, whether you’re in Oklahoma City or Sheboygan, Wisconsin.

China’s gold shopping spree

The Chinese are on a massive gold shopping spree, consuming about 40 percent of all the gold mined every year, according to CNN.

Gold imports to China have surged over 700 percent since 2010, according to the latest data from Hong Kong, which shows an increase of importing 100 tons of gold in 2010 to almost 1,000 tons last year.

In addition to all the imports, China is also the world’s largest gold miner, according to the World Gold Council. So it’s both buying and unearthing a lot of gold each year.

Still, China lags the U.S. in gold reserves. The U.S. has by far the largest government reserve of gold in the world with over 8,000 tons.

U.S. stock market for gold and mining

With the price of gold up about 4.3 percent with no signs of stopping soon, gold mining stocks have spiked as well. With all the attention gold is getting right now, there are a couple things investors and sellers should know.

Uncertainty influences gold prices

The most important factor that influences gold prices is the level of confidence or uncertainty in the market. The stock market being off to a historically bad start, European banks hitting multi-year lows and the dollar yielding low have all weakened investor confidence and turning their attention towards commodities, especially gold.

The fact that gold is an actual physical thing that we can see and hold on to gives it a certain level of value protection. Gold is more certain than paper money, which is why investors look to it during times of uncertainty.

Typically, a lower dollar means that holders of other currencies can buy gold at cheaper costs. Also, lower yields mean less incentive for investors to buy bonds, pushing them towards gold instead.

Mining stocks are affected

In a rather obvious correlation, mining stocks move with the price of gold. So gold’s current increase allows gold miners to sell their raw material at a higher price, ultimately leading to increased revenue and higher profits.

With gold mining being an extremely volatile business, mining stocks often outperform gold when it is gaining. Today, for instance, gold is up about 4.3 percent, but the mining ETFs are up about 7 percent.

This week in Precious Metals

  • The space race for mining metals from asteroids gans more focus (Platts)

The Luxembourg Government announced new measures to boost asteroid mining and the use of space resources, according to a statement from the country’s Ministry of the Economy on Feb. 3. The use of asteroids to mine for various resources was initially announced in 2012 by Planetary Resources. The Seattle-based company revealed that it planned to mine asteroids for raw materials, ranging from water to precious metals. According to Planetary Resources, a single 500-meter asteroid can contain the equivalent to all of the platinum group metals mined in history. So the mining space race begins where no man has mined before.

 

  • Gold rallies to three month highs, mining stocks get a lift (The Street)

Gold prices and mining stocks rallied Thursday, helped by a weaker dollar. Any dollar strength will put a crimp in the rally, but some say that $1,200 an ounce is optimistic for gold, despite its rally to three month highs.

 

  • Infographic: the world’s most famous case of deflation (Mining.com)

The Great Depression was the most severe economic depression ever experienced by the Western world and set the stage for the world’s most famous case of deflation. The resulting aftermath was so bad that economic policy since has been chiefly designed to prevent deflation at all costs.

 

  • Safe-haven demand will be ‘swing factor’ for gold in 2016 (The Street)

The London Bullion Market Association’s newly released 2016 survey shows that more and more analysts are bullish on gold. One forecaster, Will Adams, head of research for the U.K.-based firm, FastMarkets, says he is expecting gold to work in a range of $980-$1,222 in 2016. Adams forecasts the metal to trade in a range of $12.80-$17.40 with an average price of $16.20 an ounce.

How It’s Made: Jewelry made of precious metals

Gold, Silver and Platinum… Oh My!

Throughout the ever-changing landscape of jewelry and metals, three types of metal have remained constant in jewelry making: gold, silver and platinum. They have each stood the test of time and have been used for centuries in jewelry making. These three metals and the alloys that utilize them are referred to as the Noble Metals.

Noble Metals have four properties in common:

  1. They are precious metals and are also used as currency because of their intrinsic value.
  2. They are found worldwide, but not in large enough quantities to render them less valuable.
  3. They lend themselves to jewelry making because of their workable and rust resistant.
  4. These metals are increasingly appealing because of their considered beauty, indulgence, and glamor.

Because of all of these properties, the Noble Metals – gold, silver, and platinum – are frequently used in jewelry making, throughout history and today.

History of Metals in Jewelry Making

The source of the term “metal” is unknown, but many believe it could have originated from either a combination of the Greek words metallin (“to search after”) and metallon (“mine” or “metal”), or the Latin word metallum (“mine” or “metal”). Over time, jewelry making evolved as new metals were discovered, starting with Gold in 6000 BC.

How It Works

Jewelry was originally made with wax carving, by sculpting and embedding the design in plaster. Model designs were burned from the plaster to create an impression to be filled by metal. Precious metal was melted and poured into the mold. After cooling, the metals were ground and finished into castings. Jewelers who use this ancient method today also refine and weld these designs to look exactly how they want.

Handmade jewelry is made from alloying raw precious metals to create the color and karat desired. Once the metal is prepared, it is shaped and formed through jewelry fabrication. After casting the models, they are removed from the mold and polished with a series of compounds.

After the preparation is complete, jewelers use a jeweler’s torch, the dominant tool for soldering and welding, or a precision laser for additional settings or parts. Lasers play a big role in modern jewelry making, allowing precise welding on areas of jewelry where heat needs to be controlled, like welding in close proximity to sensitive, valuable stones.

When all metal work is complete, the precious stones to be highlighted are added to the piece. With metal work completed and stones placed, the last step in jewelry making is polishing and finishing. Jewelry polishing is a multistage process where metal is buffed with soft rotary tools applied in descending stages, from coarse to fine.

Now, designing and creating jewelry is aided by computer design. “Sculptors whom once worked in wax are now using keystrokes and a mouse to transform ideas into works of art.” Once digital works are completed, they are milled from wax or grown in resin with high tech equipment and complex software.

In the past, jewelry mold making procedures were used to preserve designs. Uncured rubber was hardened around finished models to form molds that could be filled with wax to recreate them. Modern jewelry making only requires saving the computer file that contains the artwork.

Common Metallurgy Terms

  • Alloy: Mixing two or more metallic elements, especially to give greater strength or resistance to corrosion
  • Amalgamation: Purifying gold by mixing it with mercury.
  • Cementation: To surround a metal with a substance that will react with the metal under heat. Silver is parted from gold by cementation with salt.
  • Cupellation: A means of separating gold and silver from other metals and impurities. The ore is heated in a “cupel,” (a ceramic cup,) which absorbs the impurities.
  • Distillation: Metals with a low boiling point, like mercury, are vaporized to separate them from other metals.
  • Noble Metals: Metals that resists corrosion and oxidation.
  • Smelting: To melt an ore to separate and refine the metals within it.
  • Water Concentration: Washing ore causes the heavier metals to stay behind where they can be recovered.

Do you know how much gold you really have to sell?

Before gathering all the gold jewelry, scraps, pieces or teeth and rushing to the sell them at GoldBuyerOK.com, it’s important to know just how much gold you have. First and foremost, larger amounts get better returns than small ones because of shipping and refining expenses.

Know your percentages:

Most gold is mixed with an alloy to harden it and make the ultimate item more durable. Start by sorting out your items by type – gold, platinum, silver – and fineness, the percentage of gold opposed to other blended metals (beware of fraudulently marked jewelry).

While some pieces may have a fineness mark as well, gold is often times marked with a karat purity mark instead. Pure gold is 24 karat and fineness is found by dividing the karat by 24, e.g. 18K divided by 24K = 750 fine gold, or 75 percent fineness. (Disclaimer: Marks such as 18K H.G.E., 18K G.E. or 1/20 14K GF are not gold, but are gold plated.)

 

FINENESS MARKS YOU MAY SEE AND WHAT THEY MEAN
GOLD Fineness Purity Notes
999 24 karat “carat” in UK
958.3 23 karat Often used in Eastern jewelry
916 22 karat Prevalent in the East & Mid-east
750 18 karat Standard in Europe
583 14 karat May be marked“585” in US
500 12 karat Half gold, half alloys
10 karat 10 karat Often used in class rings, etc.
375 9 carat Not legally “gold” in US
PLATINUM 999 “three nines” Purest platinum
995 Most common for bullion
950 Most common for jewelry
900 “one nine” Also common in jewelry
Platinum is often also marked with notation of its alloy
SILVER 999.9 ultra-fine Canadian Silver Maple Leaf
999 “three nines” Used in bullion bars
958 Britannia silver
950 French “1st Standard”
925 Sterling silver
925 gold color “Vermeil”, gold plated silver
900 “one nine” USA coin silver
1 g 0.32 ozt 0.63 dwt 0.352 avoirdupois ounce

Chart by Nancy Stacy, GG, ASA, Master Gemologist Appraiser

So now you have piles of precious metals and sub-piles of fineness. Now, it’s time to weigh your piles to calculate the approximate value of each pile based on the current spot price of gold.

 

Know the weight:

Precious metals are weighed in Troy ounces (ozt), which is about 1.10 times the weight of a “regular” ounce and equal to about 31.1 grams or 20 pennyweights (dwt). Weighing your precious metals in grams on a food scale or a digital scale is most convenient. Once you have weighed each group of metal of the same fineness, you can figure the fine gold content by looking up today’s “spot price” on www.kitco.com, and referencing the chart above.

 

A guide to diamond clarity and cuts

For most people, buying a diamond is a new experience, but that doesn't mean it should be overwhelming. Understanding a diamond's quality characteristics is straightforward and simple. At GoldBuyerOK.com, our certified gemologist knows the ins and outs of all things diamond: cut, color, carat and clarity. Of the Four C’s, the two that gemologists can discern more than those with a naked eye are clarity and cut.

For most people, buying a diamond is a new experience, but that doesn’t mean it should be overwhelming. Understanding a diamond’s quality characteristics is straightforward and simple. At GoldBuyerOK.com, our certified gemologist knows the ins and outs of all things diamond: cut, color, carat and clarity. Of the Four C’s, the two that gemologists can discern more than those with a naked eye are clarity and cut.

 

For most people, buying a diamond is a new experience, but that doesn’t mean it should be overwhelming. Understanding a diamond’s quality characteristics is straightforward and simple. At GoldBuyerOK.com, our certified gemologist knows the ins and outs of all things diamond: cut, color, carat and clarity. Of the Four C’s, the two that gemologists can discern more than those with a naked eye are clarity and cut.

Clarity

Clarity is a measure of the number and size of the tiny imperfections that occur in almost all diamonds. Many of these imperfections are microscopic, and do not affect a diamond’s beauty in any discernible way.

Clarity simply refers to the tiny, natural imperfections that occur in all but the finest diamonds. These imperfections are referred to by a variety of technical names, including blemishes and inclusions. Diamonds with the least and smallest imperfections receive the highest clarity grades. Because these imperfections tend to be microscopic, they do not generally affect a diamond’s beauty in any discernible way.

Diamond Clarity

FL, IF: Flawless, Internally Flawless: No internal or external imperfections. Internally Flawless: No internal imperfections. Very rare.

VVS1, VVs2: Very, Very Slightly Included: Very difficult to see imperfections under 10x magnification. An excellent quality diamond.

VS1, VS2: Very Slightly Included: Imperfections are not typically visible to the unaided eye. Less expensive than the VVS1 or VVS2 grades.

SI1, SI2: Slightly Included: Imperfections are visible under 10x magnification, and may be visible with the unaided eye. A good diamond value.

I1: Included: This grade of diamonds will have minor inclusions that may be visible to the unaided eye.

I2: I2 clarity: The diamond has an eye visible inclusion that significantly detracts from the beauty of the diamond, or could potentially endanger the stone.

I3: I3 clarity: The diamond has an eye visible inclusion that detracts from the beauty of the diamond and endangers the diamond.

diamond-copy

Anatomy of a Diamond

Diameter: The width of the diamond as measured through the girdle.
Table: This is the large, flat top facet of a diamond.
Crown: The upper portion of a cut gemstone, above the girdle.
Girdle: The narrow rim of a diamond that separates the crown from the pavilion. It is the largest diameter to any part of the stone.
Pavilion: The lower portion of the diamond, below the girdle. It is sometimes referred to as the base.
Culet: The tiny facet on the pointed bottom of the pavilion, which is the portion of a cut gem below the girdle.
Depth: The height of a gemstone, from the culet to the table.

 

Cut

Cut is a diamond’s most important characteristic. It has the greatest overall influence on a diamond’s beauty and determines what we generally think of as “sparkle”. A diamond’s cut is crucial to the stone’s final beauty and value. And of all the diamond 4Cs, it is the most complex and technically difficult to analyze.

When a diamond is cut with the proper proportions, light is returned out of the top of the diamond, the “table”. If it is cut too shallow, light leaks out of the bottom; too deep and it escapes out of the side.

To evaluate how successfully a diamond interacts with light is determined by how well the diamond can create desirable visual effects such as:

  • Brightness: Internal and external white light reflected from a diamond
  • Fire: The scattering of white light into all the colors of the rainbow
  • Scintillation: The amount of sparkle a diamond produces, and the pattern of light and dark areas caused by reflections within the diamond

Cut grade also takes into account the design and craftsmanship of the diamond, including its weight relative to its diameter, its girdle thickness (which affects its durability), the symmetry of its facet arrangement and the quality of polish on those facets.

The typical range for diamond cut ranges from ideal to poor:

Ideal Cut: This cut, only applicable to round diamonds, is intended to maximize brilliance and has the added benefit of creating a great deal of dispersion or ‘fire’ as well.

Excellent:This cut is intended to provide maximum brilliance and fire for all diamond shapes.

Very Good: These diamonds reflect most of the light that enters them, creating a good deal of brilliance. In many cases many of the parameters of diamonds in this range will overlap with certain parameters of diamonds in the Ideal or Excellent ranges.

Good: Diamonds that reflect much of the light that enters them are considered good cut. Their proportions fall outside of the preferred range because the cutter has chosen to create the largest possible diamond from the original rough crystal, rather than cutting extra weight off to create a smaller Excellent quality diamond.

Fair/Poor: A diamond graded as fair or poor reflects only a small proportion of the light that enters it. Typically these diamonds have been cut to maximize the carat weight over most other considerations.

 

 

 

 

How to Get the Best Value Selling Your Jewelry

When you sell used jewelry you want a trusted buyer - like GoldBuyerOK - who is going to give you the best deal in Oklahoma City.

When you sell used jewelry you want a trusted buyer – like GoldBuyerOK – who is going to give you the best deal in Oklahoma City.

As the price of gold rose in recent years, so did the companies advertising that they purchased gold, silver, diamonds and other precious metals. The trouble is that while any company can purchase these items, very few are actually qualified to evaluate theses pieces accurately and assign a fair value to them.

Figuring out which diamond buyers are actually qualified and trustworthy can be a tricky task if you do not know what to look for. Below are some the most important things to know if you find yourself in the position to sell  jewelry.

Research

Sometimes items are handed down as heirlooms and the intrinsic values are stretched in stories as they are passed from one person to the next. Determining value is the first step in selling your jewelry.

There are many variables that contribute to a diamond’s value. Think of selling diamonds like selling a house – when you go to value your home, you factor in square footage, location property condition, and more. The same is true for a diamond – you must know the carat weight, color, clarity and cut in order to determine the value.

Once these characteristics are known, the value of the diamond or diamond jewelry can be obtained. However, if the business or diamond buyer you are working with is unable to accurately grade the diamond, they are unable to accurately assign a value to it.
The common result is that the consumer is greatly underpaid for their diamond. The difficulty is finding a qualified buyer who can accurately grade diamonds, and know how to associate a fair value.

Testing the metal to make sure it’s genuine gold can be done cheaply and easily with a simple test. In addition to testing, information about each piece can sometimes be easily found through stamps on jewelry that indicate brand, metal purity and even age. All of these will help you determine its value more accurately.

Remember you don’t get paid for the jewelry in relation to what you paid but the condition and demand when you sell.

Clean

Just like everything else, jewelry looks it’s best when cleaned. Properly clean your jewelry before showing it around. However, the wrong cleaning can damage and even destroy jewelry. If your are unsure of how to clean the jewelry or gem, let the professionals do it.

Here are some cleaning tips:
Know for certain the best cleaners to use on your jewelry and do it carefully.
Never clean gold and gems in chlorine. Ammonia based cleaning products can damage some gems. Try and avoid them.
Use a mild soap with warm water and a soft toothbrush, then rinse thoroughly.

Know the price

The more precious metal in the jewelry, the more the piece is worth. The current price of gold or silver is known as the spot price. No gold buyer is going to pay you the spot gold price. They will pay you the melt price—what it costs to melt the precious metal down to its purest form. And each gold buyer will take a small percentage as a commission. This commission and their ability to accurately estimate the jewelry’s value is why you will see evaluations of the same piece vary from buyer to buyer. It’s why you should do your homework and research buyers.

Before you sell, make sure your gold does not have any antique value that would trump its meltdown value.

Be realistic

Being honest with yourself about your jewelry, especially if it has sentimental value, is important. When selling jewelry, you’re not going to get the retail value. Researching different prices may be initially helpful, but continuing to do so until you find a price that is almost retail will likely frustrate more than benefit you.

Stick with reputable review sites and do your research. Trust sites like the Jewelers Vigilance Committee and review sites that allow for customer reviews directly on their sites, such as Angie’s List.

“Independent” ranking sites about Top Diamond Buyers are usually not what they claim to be. Work with a company who has earned their reputation rather than one that has purchased it through clever Internet marketing.

  • Unfortunately with fake review sites also come a handful of other Internet scams. Here are some useful tips:
  • If you are trying to sell a diamond piece locally on a platform that allows you to post something for sale in your local town, do not send your diamond piece to anyone other than a company, regardless of how many emails you get from PayPal saying funds have been deposited into your account.
  • Choose a company that is easily accessible by phone, has a brick and mortar facility and that you feel comfortable with.
  • Stay away from companies that send high values via email quotes.
  • Avoid companies that advertise fast cash.