Important factors to consider when buying gold jewellery – What to know
Considered as the ultimate when it comes to luxury, gold will never run out of fashion. The mere mention of this elegant metal is already enough to catch anyone’s attention. After all, who doesn’t adore or love shining pieces of gold jewellery?
They make an elegant fashion accessory for people of all genders. In addition, they are extremely pleasant to the eye. Whether it’s an anniversary, wedding, company-sponsored formal event, or any family gathering, gold jewellery is a perfect attention-catcher.
Gold purchases also make for a smart investment. Most people have the habit of buying gold as direct investment and gain profit from selling whenever there is a considerable increase in its value. Others consider it as a valuable item with various industrial uses. No matter what the reasons are, gold buying will always be a trend. It is a purchase that you can enjoy for many years to come.
Before making a purchase and spending a large bulk of your finances, it will be ideal to educate yourself on the various factors you need to be mindful of.
Identification and Certification
In most countries, a piece of gold jewellery is certified by certain agencies proving their authenticity. As mandated by the law, they should also carry a clear stamp or identification of the cartage assigned in making the piece.
Other specifications are also available, all of which are controlled and managed by the country’s hallmarking system. That piece you are checking out may be stunning, but if they do not have the hallmark that guarantees the purity of the metal, then you are probably buying a fake one.
Level of Purity
A gold’s level of purity can affect its price. It is denoted in carats, with 24 carats being 99.9% pure, which is the purest form of gold. A 22-carat piece of gold jewellery is considered to be 92% pure. Every carat is equivalent to 4.2% pure gold, which makes an 18-carat gold to contain 75% of pure gold only. Most jewellers make gold pieces that are only 14-carats and 18-carats since a 24-carat gold is not suited for jewellery-making. When you buy gold, the main rule of thumb is to always check for its purity.
Weigh Specifications
Knowing how much your gold jewellery weighs is important to determine how durable it is. The weight directly affects not just the cost of the jewellery, but also its strength and durability. A piece of gold jewellery is typically measured in troy ounces.
The higher the value, the higher the price of that piece will be. Additionally, heavier and thicker gold pieces are more durable since they can withstand wear and tear over time. A lot of jewellers add high-valued gemstones, such as diamond or emerald, to make the gold jewellery heavier. It could also mean that you are more likely to pay higher for gold that is not really there.
Bottom Line
Buying gold is a worthy investment. However, do your research and select a trusted jeweller before making your purchase. A reliable one will always give you the bill of purchase, which includes all the pertinent information regarding your transaction. That could also indicate transparency, making it easier for you to take necessary actions in case of any claims or discrepancies.
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