Buying gold and silver as an investment and/or to wear

[Accy cyclist]

As the thread suggests, do you own any gold or silver and if so did you buy it as an investment in these bank account scrutinised times, as a way of hiding your assets, or did you buy it or receive it simply to wear as jewelry? I hear folk say they are buying gold now as a form of investment due to its expected rise in price/value, whereas money in the bank stagnates and doesn't accrue value due to relatively low interest rates. Not so much silver, as silver is low value compared to gold, with today's silver price at a mere 61 pence per gram, compared to 18 Carat gold at £38 a gram. I've been looking round those usually untidy shops that sell old coins, banknotes, medals, stuffed animals, 78 rpm records etc etc. I've found one where the owner sells 9 Carat gold at £20 per gram which is just slightly above the current scrap rate. If you buy say a 10 gram ring from this shop it'll cost approximately £200. If you bought a brand new 10 gram 9 Carat gold ring it's cost approximately £500. The shop in question has this 18 Carat gold ring for sale at £500.

It weighs 12.2 grams, so if it was new in a reputable jewelers it'd set you back approximately £1,220. Yes, the stone looks like it could weigh 1 gram, so the ring probably has 11.2 grams of 18 Carat gold costing £1,120 if new.


Your thoughts on buying/wearing gold please!

 

[classic33]

The value of gold isn't that high at present

You're paying for the work as well.

 

[Mike Ayling]

WE have a collection of antique silver which we purchased when we were both earning quite good salaries. There is a rarity value because it it no longer made. You could dip your toe in the market with a spoon from one of the well known makers. make sure it has all the right hallmarks.

 

[Mike Ayling]

The value of gold isn't that high at present

You're paying for the work as well.

US$2,000 an ounce not high enough for you?

 

[fossyant]

I thought gold was at a high at present, certainly had gone up a few years ago when MrsF 'lost' her wedding rings and we discovered the value of gold had gone up alot, and we were effectively 'under-insured'.

 

[Accy cyclist]

I heard a 'gold expert' on the radio a few years ago say that all the gold in the world would only fill three Olympic sized swimming pools. Yes, those pools are big, but I would've thought there'd be tons and tons of the stuff. 🤔

 

[Joffey]

Allegedly you won’t lose money on gold and silver But buying jewellery is risky as like said above, you are paying for the work and there will be a mark up. Maybe invest in bullion / coins if you are going to keep it for the long term.

 

[stephec]

I heard a 'gold expert' on the radio a few years ago say that all the gold in the world would only fill three Olympic sized swimming pools. Yes, those pools are big, but I would've thought there'd be tons and tons of the stuff. 🤔

I read something years ago that said that if all the gold in the world was made into a big block it could fit under the Eiffel Tower.

 

[Jameshow]

I've got 7 gold bars in my cupboard.... Value £1.50 ish...... 🤣

Obvs gold's value goes up as the economy falters so now is probably a couple of years to late tbh.

 

[Alex321]

I heard a 'gold expert' on the radio a few years ago say that all the gold in the world would only fill three Olympic sized swimming pools. Yes, those pools are big, but I would've thought there'd be tons and tons of the stuff. 🤔

There are.

A tonne of gold would be a cube 37.26cm (14.66inches) per side. 51.76 litres.

An olympic swimming pool holds 2.5 million litres of water.

So one olympic swimming pool could hold 48,299 tonnes of gold. Three of them would hold almost 145,000 tonnes.

 

[Joffey]

I've got 7 gold bars in my cupboard.... Value £1.50 ish...... 🤣

Obvs gold's value goes up as the economy falters so now is probably a couple of years to late tbh.

The chocolate?? I’ll give you £2!!!

 

[Reynard]

I buy jewellery to wear - I have a passion for lockets. But I generally won't pay more than two and a half times the scrap value for an item unless it's by a well-known silversmith etc. Even then, I won't go bananas. IMHO the current market is a bit overinflated, so I haven't actually bought anything for a year.

My tip is to stick to classic and timeless designs, as that sort of thing never goes out of fashion. Anything that's overly funky, overly glitzy and overly ostentatious may be much harder to sell on. Also, be aware of what styles are trending in the antiques market, and will therefore fetch a premium. The current biggies are art nouveau, art deco and mid-century Scandinavian.

 

[Accy cyclist]

The value of gold isn't that high at present

You're paying for the work as well.

I said that 'new' 9 Carat gold was around £50 a gram. This pendant weighs 3.2 grams, so if new gold is £50 it should be £160, yet it costs almost twice as much at £312. If someone who bought this item decided to sell it as scrap they'd get £64. That 12.2 gram 18 carat ring I mentioned at £500 is far better value for money than this new item I'd say. With that ring you wouldn't lose money, but with this pendant you'd lose approximately 79 percent of your 'investment'. 🤔

Weight: approx 3.2g

https://www.namenecklacesdirect.co....hallmarked-ingot-with-optional-engraving.html

 

[Beebo]

The issue with gold is where do you keep it sate and how do you insure it.
No point in having £10000 of gold if you’re paying £500 a year to insure it or keep it in the bank. As that’s 5% which will negate any gains.
You can hide it under the bed but that’s a big risk.

 

[biggs682]

I've got 7 gold bars in my cupboard.... Value £1.50 ish...... 🤣

Not had a Gold bar for ages must add them to the list 😜