Buying Gold: Safe To Least Safe Options
by Katrina Evans
If you want to get into the field of gold buying, you have to accept that there will be times when you may make an unusual and risky decision to buy the gold offered by a seller. It is tempting to buy up gold as fast as you can get it, but that is not always the smartest or safest way. There are safe options and not-so-safe options when it comes to buying gold, and they are as follows.
Safest Bet: Clearly Marked and Labeled Bullion and Gold Coins
While someone could still go to a lot of trouble of faking gold bullion bars and coins, the trick is that the certification label on these items has to come from a legitimate gold appraiser. That is why buying labeled gold coins and gold bullion bars are the safest gold purchase you can make. Their casings and labels will tell you exactly what you are getting and what each was appraised at in terms of weight, purity, value, etc..
Next Safest: Tagged Gold Jewelry
People may want to sell their broken gold jewelry. Look for the little tags near the clasps of necklaces and bracelets to see what the tags say. They should have the jeweler's mark and the gold purity level stamped on this tiny tag. (Rings and earrings do not have tags, so you will have to test those pieces to be sure that they are gold.) It is smart to test the broken jewelry with a gold testing kit to make sure the test results match the little tags, but usually this is a safe purchase to make.
Maybe Safe, Maybe Gray Area Option: Unlabeled Coins and Bullion, and Jewelry Without Tags
As you work your way down the list of safe options for gold buying, you get to a point where there are coins, bullion bars, and broken jewelry with no labels, certifications, tags, or marks. These may be pure to an extent, or they may be fakes; you just do not know. Use a gold testing kit and a scale to weigh these things before making a deal and completing the purchase.
Risky: Gold Teeth
Gold teeth are rare these days. If someone brings you a gold tooth and wants to sell it, it is an awkward scenario where you just do not know how they came by a gold tooth, and you probably do not want to know either. It could be someone they knew, and they pulled the tooth from the person's mouth, or it could be a case of grave robbing. You just do not know, and you should avoid purchasing this gold option just in case.
For more information about buying gold, contact a local company such as CMI Gold And Silver.
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