With increasing prices, many people are talking about the importance of investing in gold. If you're interested in becoming a gold collector, it's important for you to first learn about the various ways to purchase gold from your coin and precious metals dealer. Here is a guide to understanding the different types of gold:
When differentiating between various types of gold, you should look at the karat amount of each item. 24-karat gold is pure gold. Lower karat amounts designate how much of the metal is pure gold. For example, a 14-karat gold item is 58.3% pure gold, whereas a 22-karat gold item is roughly 91.6% pure gold.
As your gold dealer can explain, one can purchase gold in several forms, including solid gold and electroplated gold. Electroplated gold is the least desirable type of gold for most collectors, whereas the most profitable and worthwhile type of gold in which to invest is solid gold that ranges from 10 to 24 karats.
Filled gold can be valuable if it contains a high percentage of pure gold. For example, a gold-filled item that is 20% pure gold can be sold for a fair price to your gold buyer. Lower percentages such as 5% or less are typically found in costume jewelry and, therefore, are not a good investment.
Do you have questions about the different types of gold? If so, stop into Coins of the Realm in Gaithersburg to speak with our resident gold experts. You can learn more about the other precious metals we buy and sell by taking a look at our website or giving us a call today at (301) 637-6220.