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gold 22 carat

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  • 05-05-2017 9:08pm
    #1
    utmbuilder
    Registered Users Posts: 467 ✭✭


    I want to buy some gold for my girls for when they are going to college to cash in on.

    I was considering going for 22 carat chain's instead of bullion, would I be at much of a loss trying to get 22 carat smelted to bullion in 20 years.


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    #2
    chipfox
    Registered Users Posts: 509 ✭✭✭chipfox


    I always go for whatever is cheapest. I buy any gold I can for a good price and never consider the future melting cost. Would love to hear other's opinions though

    In my lay opinion I think junk gold with a stamp is going to be more valuable than gold you melt down yourself. How am I meant to know you didn't add 10% iron or copper to your gold blob?


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    #3
    Atlantic Dawn
    Registered Users Posts: 81,891 ✭✭✭✭Atlantic Dawn
    M


    There will be a cost in having the gold built as chains, better off going in bullion if end result is smelting to sell.


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    #4
    wordofwarning
    Closed Accounts Posts: 697 ✭✭✭wordofwarning


    chipfox wrote: »

    In my lay opinion I think junk gold with a stamp is going to be more valuable than gold you melt down yourself. How am I meant to know you didn't add 10% iron or copper to your gold blob?

    A cash for gold place can easily test the purity of gold. Slight variations in purity have a massive effect on colour. 99.99% pure gold is almost orange, whereas 9 carats is a dull yellow

    Gold is a horrific investment. An ETF eg S&P500 would return a lot more than gold over a 20 year period


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    #5
    chipfox
    Registered Users Posts: 509 ✭✭✭chipfox


    You won't get as good a price from a cash for gold place. I buy junk gold for as much as 50% spot and will probably keep doing it while I can get good prices.

    I don't think any investor would allocate all of their funds in a single position like the S&P or similar. Having a small amount of precious metals isn't a terrible idea but definitely not a way to get rich.


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