All men and women should own gold jewelry for two main reasons. The first reason is obvious and I'm sure you've heard it before: gold jewelry looks good. There is nothing that shows success like wearing an expensive gold bracelet. The second reason for wearing gold jewelry is one I'm fairly certain you have not heard before: Gold jewelry is a sound financial investment and store of value. Gold has been climbing to record highs as the dollar continues to fall. Why not store a portion of your assets in a timeless store of value that you can wear everyday?
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Can You Elaborate More? Why is Gold Jewelry a Great Investment?
Historically, there have been two gold audiences: investors and wearers. The investors have typically invested in gold coins and stocks. The wearers have typically been mainly attracted to the luster and look of gold jewelry. The purpose of this article is to bridge the gap between these two audiences.
If you are a gold investor, why not purchase some gold jewelry? You already know the benefits of owning gold. Jewelry is just another form of gold ownership. Gold jewelry is a great way to diversify your existing gold portfolio and is also a great tangible way to enjoy your gold.
Wearers, I urge you to read the articles on this site that illustrate the power of gold. Gold is a great investment for many reasons, the single biggest one being store of value. Throughout the centuries, countries have come in and out of power and currencies have gained and lost all their value. There is only one universal store of value over the long term: gold. No matter what happens to the economy (which is not looking too good right now with the dollar losing a lot of value), gold is always valuable for its intrinsic metal value. I see gold jewelry as another form of gold ownership and as a way of storing and protecting your wealth. If you already own gold jewelry, that's great. I urge you to take the opposite advice I gave investors and consider buying some coins and stocks in addition to your jewelry.
Gold Bracelets, Watches, Necklaces, or Rings?
Ok, so you agree in the value of owning and wearing gold jewelry. Now, where to begin? There are really three important questions here, one that pertains mostly to the investment side of the equation and two that apply mainly to the fashion side of the equation. Looking first at the investment aspect of things, I try to find jewelry that has the lowest markup as possible against current spot gold prices. I typically find the best deals with bracelets and necklaces. Watches are typically very heavily marked up making them the least efficient investment. Rings are ok but they usually are small and don't store enough value to make them valuable from an investor's standpoint.
There are two main checkpoints I look for from the fashion standpoint: looks and durability. Looks are important. After all, we're talking about jewelry here! The problem with looks is you will typically pay more for looks which brings the price higher and higher above spot gold. It's a careful balancing act. Take your time and look for savvy deals. I have found some good deals that The Jewelry Exchange. In terms of durability, I always look for jewelry that is well made. Why spend a lot of money on something that is going to break? Always buy the best quality so you don't have to pay for repairs in the future.
Yellow Gold, White Gold, or Rose Gold?
I always go for yellow gold. White gold and rose gold have become more popular in recent years but are most likely just fashion fads that will phase out over time. Moreover, white and rose can be easily mistaken for cheaper metals. Why pay all this money for gold and then not have the prestige of an item that is immediately recognized as being gold? My recommendation is to go with yellow gold because yellow is the natural color of gold and is the most recognized form of gold all over the world. There will always be a strong market for yellow gold jewelry.
12, 14, or 18 Karat?
I personally think 12, 14, and 18 karat gold jewelry are all fine, with a bias towards 14. The key here is to not be fooled on price. The lower your karat rating, the cheaper the price should be. When pricing your jewelry, you need to factor in the weight of the actual gold content versus current spot gold price. I personally like 14 karat gold jewelry because it is durable yet still has a high enough gold content that it has a great luster. The key in shopping for your gold jewelry is to also understand the investment aspect which will give you an insiders edge against most jewelry salespeople.
In closing, I would like to advise you to be careful. It's never a great idea to be too flashy because then you'll attract negative attention and potential theft. Buy high quality understated gold jewelry. If you really love jewelry and will be buying more than a few pieces, consider storing your excess jewelry in a bank safe deposit box. You will be able to better sleep at night knowing your valuable jewelry is stored safely. Most of all, have fun in finding your gold investment jewelry! Want even more information on gold jewelry? Check out our new beginner's guide to investing in gold jewelry.
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