Author: J Blundells

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What to Look for When Buying Gold and Silver Bars in UK

Gold and silver bars nestled in a bird's nest, symbolizing the safe and secure investment in precious metals.

Introduction

Investing in gold and silver bars is a time-honoured method of preserving wealth. This article provides a detailed guide on what to look for when buying these precious metals in the UK.

Why Buy Gold and Silver Bars

Gold and silver bars nestled in a bird's nest, symbolizing the safe and secure investment in precious metals.
Secure Your Wealth: Investing in Gold and Silver Bars

Gold and silver bars are tangible assets that hold intrinsic value. They offer a hedge against inflation and currency fluctuations, making them a popular choice for investors. Investors looking to enjoy the touch, feel, and security of owning gold may wish to buy gold bars instead of intangible investments such as gold exchange-traded funds (ETFs). In the current climate of market uncertainty and high inflation, buying gold and silver bars can be a strategic move. These tangible assets offer a hedge against inflation and currency fluctuations, providing a safe haven for investors. As gold and silver prices often move contrary to stock market trends, investing in these precious metals can add stability and diversification to your portfolio.

Why Buy Gold and Silver Bars

Gold and silver bars are tangible assets with intrinsic value. They hedge against inflation and currency fluctuations. Investors often buy gold bars over intangible investments like gold exchange-traded funds (ETFs).

What to Look for When Buying Gold Bars

Consider factors like purity, weight, brand, and price when buying gold bars. The London Bullion Market sets the gold price twice a day. Look for gold bars with full LBMA (London Bullion Market Association) accreditation. Ideally, gold bars should have at least 99.9% purity.

J Blundell and Sons, a reputable dealer, sells LBMA bars at 99.99% purity. All their gold bars have a unique serial number and certification.

What to Look for When Buying Silver Bars

When buying silver bars, consider the purity, weight, brand, and price. Look for a unique serial number on the bar. J Blundell and Sons sells Metalor bars, known for their purity worldwide.

Understanding Pricing

Understanding gold and silver bar pricing ensures you’re getting a fair price. The price does fluctuates with demand however the spot price determines the market price per ounce.

Where to Buy Gold and Silver Bars

You can buy physical gold and silver in bullions, coins or jewellery through an online or local metal dealer, collector or bank. Consider the pros and cons of buying online vs. in-person. At Jblundells we offer both online buying of bullion and in store buying.

Avoiding Scams

Avoid scams when buying gold and silver bars. Review websites like the Better Business Bureau and Ripoff Report to learn about a gold seller’s reputation. Always verify the authenticity of the seller and the gold bars before purchasing. We would strongly advise not buying from any individual or unregistered business over social media or cold marketing emails.

Conclusion

Investing in gold and silver bars can be a sound decision during economic uncertainty. However, do your research and understand the intricacies of buying these precious metals. Consider factors like purity, weight, provenance, and storage to make an informed decision.

References

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Behind the Counter: The Life of Gemstones in a Cash for Gold Shop

Customer and cash for gold shop owner shaking hands after a successful transaction

Introduction

When you step into cash for gold shops, you’re entering a world that revolves around precious metals. But what happens to the stones in jewelry at these shops? Let’s explore this fascinating question.

Understanding the Cash for Gold Business

Cash for gold shops primarily deal with precious metals. They aren’t jewelers, and their main interest lies in the gold, silver, or platinum in your jewelry. So, what does cash for gold pay for? The answer is straightforward: the precious metal content.

The Journey of a Gemstone

When you sell your jewelry, the gemstones embark on a different journey. Cash for gold shops typically don’t pay for these stones. In fact, they might even deduct some weight for them. Why? Because these shops send all scrap gold to smelters, who also pay only for the precious metals.

The Fate of the Gemstones

Small stones, especially, are not worth having professionally removed. The resale value of these used stones is significantly lower than retail prices, often 5 to 10 times cheaper. So, if you’re thinking, “Can I sell gold for cash and also get paid for the stones?” the answer is usually no, not at a cash for gold shop.

Factors Influencing the Value of Gemstones

Not all stones are precious. Their value can vary greatly. If you’re wondering how to sell gold for cash and get the best value for your gemstones, consider having them removed by a jeweler beforehand.

Why Cash for Gold Shops Offer the Best Value

These businesses often provide the best value for your precious metals. High street jewelers may only offer half the price of the precious metal content. Cash for gold shops, on the other hand, specialize in precious metals, which means they can often offer a more competitive price. So, if you’re asking, “Is selling gold for cash worth it?” the answer is a resounding yes!

Customer and cash for gold shop owner shaking hands after a successful transaction
Customer and cash for gold shop owner shaking hands after a successful transaction

Tips for Selling Jewelry with Gemstones

If you’re selling to a high street jeweler, you should have them pay extra for your stones because they can repurpose them. However, remember that the best value for your precious metals is often found at cash for gold shops. For more tips visit this blog and many more in our news and article section.

Conclusion

Cash for gold locations offer a quick and convenient way to turn unwanted gold into cash. When it comes to gemstones, it’s a different story. However, understanding this can help you make informed decisions when selling your jewelry, ensuring you get the best value for your precious metals.

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How to assess the quality of Gold investments

Investing in physical Gold has long been considered a safe and reliable way to protect your wealth against inflation and economic uncertainty. 

But, not all Gold investments are equal. When you are buying Gold coins and bars, it is important to assess their quality and purity before making any purchase.

The quality of a Gold investment can greatly impact its value and durability over time. Factors such as weight and size, appearance and finish, brand and reputation, and certification and authentication should all be taken into consideration. 

A reputable and trustworthy Gold dealer will provide you with detailed information about these factors, giving you peace of mind that you are investing in a high-quality product that will stand the test of time.

It’s also important to check the purity of your Gold investment. The purity of Gold is measured in karats, with 24k Gold being the purest form. However, many Gold coins and bars will contain alloys such as copper or silver, which can affect their overall purity level. It’s really important to understand the hallmarks and markings on Gold coins and bars and the testing methods used to verify their purity. 

This knowledge will help you make informed investment decisions and ensure that you get the best value for your money.

Investing in high-quality and pure Gold is about securing your financial future and preserving a piece of history. 

Gold has been a symbol of wealth and power for centuries and continues to hold a special place in our British culture. By investing in physical Gold. you are becoming a part of this rich history and ensuring that it endures for generations to come. 

Quality factors to consider

Firstly, ensure you’re not getting short-changed on the weight and size of your Gold coin or bar. A well-minted Gold product should match the description provided by the dealer with no discrepancies. You want to ensure that you invest in a legitimate and trustworthy product.

Appearance matters! A high-quality Gold coin or bar should have a clean and crisp design, free from blemishes or dents. The surface should be uniform and reflect light evenly. The more pristine the design and finish, the better the quality of the gold product.

Choose a reputable dealer with a solid track record of providing high-quality products. Investing with a trustworthy dealer can help you avoid scams and fake products that could cost you a lot of money.

Certification and authentication are crucial when investing in Gold. The refinery providing Gold bars should be accredited to LBMA (London bullion market association) 

All gold bars <100gm  should be sealed and carry a certificate on the packaging itself and 

have a physical certificate. All Gold bars have a serial number indented on the bar, which should be the same on the certificate.

Always ask for certificates of authenticity to verify the weight, purity, and other important details of your gold investment. This documentation will give you the peace of mind that you’re investing in a high-quality product.

By keeping these quality factors in mind, you can invest in high-quality Gold that will hold its value and bring you years of financial security.

If you need help with your Gold investments, you can call or visit us at our shop in London. We will be happy to advise you!

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The Recyclability of Gold

Gold is a rare and precious metal valued for its beauty, rarity, and unique properties for thousands of years. Its unique combination of physical and chemical characteristics makes it a highly sought-after commodity. Gold is a key component of the global financial system and is used as a benchmark for currency values and as a reserve asset by central banks worldwide. 

The demand for Gold is driven by various factors, including its use in jewellery, electronic devices, and investment, as well as its role as a hedge against inflation and market volatility.

The Recycling Process of Gold

Gold recycling is a critical part of the Gold industry and helps to conserve it. The recycling process involves the collection of scrap Gold, which is then refined to produce new Gold. 

Here’s a brief overview of the recycling process:

  1. Collection of scrap gold: The first step in the Gold recycling process is the collection of scrap gold. This can come from various sources, including jewellery, dental fillings, electronic waste, and other sources. The collected scrap Gold is then sold to a refiner who will process it further.
  1. Refining process: The next step in the Gold recycling process is the refining of the collected scrap Gold. This involves a series of chemical treatments that remove impurities and separate the Gold from other metals. The resulting pure Gold is then melted into a bar, coin or another form, ready for reuse.
  1. Recovery of gold from electronic waste: Recently, there has been a growing demand for Gold recycling from electronic waste. This is because electronic devices contain a significant amount of Gold, which can be recovered through recycling. The process involves the dismantling of electronic devices, followed by the extraction of Gold from the recovered components.

Gold recycling is important because it helps to reduce the demand for newly mined Gold. This, in turn, helps reduce the environmental impact of Gold mining, which can significantly impact the environment. The more Gold is recycled, the less that needs to be extracted from the earth. Additionally, recycling Gold is more cost-effective than mining for new Gold, which makes it an attractive option for many organisations. Encouraging responsible Gold mining practices and increasing transparency in the supply chain can also help make the Gold industry more sustainable.

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The New Commemorative King Charles Coins

After the passing of our late Queen Elizabeth II in September, we knew that the coins we use every day with her portrait on them would eventually have to be phased out and replaced with the portrait of our new King Charles III. 

At the end of 2022, The Royal Mint unveiled a new coin effigy of King Charles III; these new coins were released at the beginning of the year. This new coin design features a portrait of King Charles III facing right and was designed by Martin Jennings. The Royal Mint has a long-standing tradition of creating new effigies to mark significant changes in the monarchy, and this new effigy of King Charles III continues that tradition.

The King’s portrait will appear on the heads of the new £5 and 50p coins. On the reverse of the 50p coin is a design that originally appeared on the 1953 Coronation Crown. The reverse of the £5 coin features two new portraits of Queen Elizabeth II that artist John Bergdahl created. Both these designs will commemorate the life of our late Queen.

5 New Memorial Bullion Sovereign Gold Coins 

To mark the passing of Her Late Majesty Queen Elizabeth II and to honour her long life and reign, a new memorial range of Sovereign bullion coins are being released this month. 

This is the first Sovereign Bullion range featuring the official portrait of His Majesty The King; it features Benedetto Pistrucci’s St George and the dragon and an intricate reinterpretation of the Royal Arms by Jody Clark. 

The five new coins are:

  • The Memorial Sovereign 2022 Gold Bullion Coin
  • The Memorial Soverign 2022 Twenty-Five Bullion Coin Tube
  • The Memorial Half-Sovereign 2022 Gold Bullion Coin
  • The Memorial Double-Sovereign 2022 Gold Bullion Coin 
  • The Memorial Quarter-Sovereign 2022 Gold Bullion Coin

These coins will all feature our new King Charles III for the first time, and they will be released on the 7th of February. 

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The Forecast of Gold prices in the UK in 2023

As 2022 drew to a close and we welcomed in the New Year, Gold was one of the best-performing assets, just behind the US dollar. 

Supply and demand are the two main factors that affect Gold prices. When demand for Gold increases, so does its price; when more people sell their Gold than buy it, prices drop. Other factors include inflation, economic growth or decline, currency exchange rates, and political turmoil—all of which influence the global markets and play a role in setting Gold prices. 

In 2022, Gold did underperform due to The Federal Reserve System, which is the central bank of the United States; raising their interest rates which had a negative impact on bonds and Gold. This meant that the value of the U.S dollar increased, and it became a safer investment, so the demand for Gold decreased. 

However, the forecast for Gold prices for this year looks promising. As we enter 2023 and see that many economies could face a bit of a recession, Gold will naturally become more attractive to investors. Gold is the only asset that every central bank owns, and according to the World Gold Council, in the third quarter of last year, central banks bought 400 tonnes of Gold. 

Towards the end of 2022, we saw the value of Gold start to rise as the US dollar started to weaken, and if this continues, then the value of Gold will continue to go up in value during 2023. It’s important to remember that Gold prices aren’t always stable; they often fluctuate based on short-term events like news reports or natural disasters. This means that predicting long-term trends with any degree of accuracy is difficult. 

We are looking forward to seeing what unfolds this year! As always, if you are looking to invest in Gold, we’d be happy to help you alongside a financial advisor.

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When is the best time to buy Gold?

Investing in Gold is a great way to protect your wealth and secure your future. But when is the best time to buy Gold? 

Gold prices tend to move seasonally, meaning they are likely to peak at certain times of the year. The most important factor to consider when deciding when is the best time to buy Gold is what Gold prices are doing at any given moment. The best approach is usually buying during periods when Gold prices are falling and selling during periods when Gold prices are rising. 

Let’s take a closer look at buying Gold and determine when you should invest.

The best time to buy Gold depends on several factors, including the current market conditions, political landscape, and economic outlook. 

Here are our top three points to consider before investing in Gold: 

  • Market Conditions: When determining when to buy gold in the UK, it is important to keep an eye on global market conditions. People tend to flock towards Gold if there is volatility or uncertainty in other markets—such as stocks or foreign currencies. This can drive up demand for Gold and push prices higher. 
  • Political Landscape: Political events can have a major impact on Gold prices. For example, suppose there is political unrest or turmoil in a certain country or region. In that case, it could cause investors to flee that region’s currency and seek out the stability of Gold investments instead. 
  • Economic Outlook: The health of an economy can also affect when you should buy Gold. During times of recession, investors may view buying Gold as a safe bet instead of putting their money into other investments that may be riskier during an economic downturn. On the other hand, if an economy is expanding rapidly, people may want to invest in higher-risk ventures instead of buying Gold.  

Many factors go into determining when you should buy Gold. It’s essential to pay attention to market conditions, political events around the world, and overall economic outlook before making any decisions about investing. Keeping track of these indicators will help you make informed decisions about your investments to maximise your returns over time. By understanding how different factors affect Gold’s price, you can ensure that you invest at just the right moment!

*Please note that we are not financial advisors, so always do your own research before investing in Gold.  

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An Overview of the Current Price of Gold in the UK

As with any investment, keeping an eye on the market is important. This is especially true when it comes to Gold. The price of Gold can fluctuate greatly depending on various factors, making it difficult to determine what will happen next. In this post, we’ll take a closer look at the current price of Gold in the UK and what factors influence its value. 

Current Price Of Gold In The UK  

The live price of Gold can fluctuate dramatically daily and even hour to hour. Today the price of Gold is £1,557.47 per ounce (£50.07 per gram). It has dropped slightly this week but is nearly at its highest since September 2022.

Factors Influencing the Price of Gold in the UK 

Several different factors, including supply and demand, geopolitical events, and currency exchange rates determine the price of Gold. Supply and demand play an important role in determining the price of Gold; if there is an increase in demand for Gold, then prices may rise. Likewise, if there is a decrease in demand for Gold due to political or economic events, then prices may also fall. 

Inflation also plays a role in determining the price of Gold. If inflation is high, people may turn to invest in Gold as a haven from potential financial losses due to rising living costs. 

Gold Coins & Bars 

Investors need to consider additional costs, such as premium prices for special coins or bars and shipping fees or taxes, when buying or selling physical Gold coins or bars.

Another important factor to consider when buying physical Gold is storage fees. Most banks offer safe deposit boxes that provide secure storage for valuable items like jewellery and coins – but these come at a cost, so make sure you factor this into your budget before making any investments! 

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2022 recap

Happy New Year! As we welcome 2023, we thought we would recap the Gold market in 2022. 

In 2022, Gold saw a period of significant changes in the United Kingdom. It was an eventful year for the precious metal, from new regulations to rising prices. Let’s take a look at some of the key developments and what they mean for investors and consumers alike. 

Price Changes 

Gold prices rose significantly during 2022, reaching their highest level since 2011. This was largely due to increased demand from central banks and other institutional investors seeking to diversify their portfolios or hedge against economic uncertainty. This surge in demand led to higher prices across the board, with Gold coins becoming increasingly popular as investments among individuals and institutions.

One of the biggest changes to gold prices in 2022 was due to Brexit. After Britain officially left the European Union on January 1st, it caused great uncertainty in global markets. This instability caused investors to flock to safe-haven investments such as gold, significantly driving its price. 

Regulatory Changes 

The UK government also implemented a few regulatory changes related to Gold. This included the introduction of new rules around how Gold can be traded, including restrictions on who can buy and sell gold bullion bars and coins online. 

These regulations were established to protect consumers from potential fraud or manipulation by rogue traders or dealers. Stricter reporting requirements were also put on companies that deal with Gold trading, aiming to improve transparency and accountability.

The Royal Mint started producing new coins.

Along with the rest of the UK this year, we were deeply saddened by the news of Queen Elizabeth II’s death on September 8th. The coins we use every day started to phase out in December, with new coins being introduced featuring our new King. This year we will start to see new coins featuring King Charles III’s portrait. 

We are looking forward to seeing what 2023 brings!

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Investing in Gold for your child’s future

Investing in Gold can be a great way to ensure that your children have a secure financial future. Gold is a precious metal, and its value tends to appreciate over time, making it an attractive option for diversifying investments. 

Physical Gold is a great way to ensure that your children have something tangible and lasting to pass on through generations. Gold bars, coins, and jewellery are all popular investments. 

What Are the Benefits of Investing in Gold? 

Gold is seen as a hedge against inflation and currency depreciation, meaning that even if prices rise or the value of a currency falls, your investments will still retain their value (or increase) over time. This makes it an ideal long-term investment option. 

Investing in Gold for your children is also tax-advantaged; depending on where you live and how you structure your investments, you can benefit from lower taxes on any profits earned by investing in Gold. 

Things To Consider Before Investing In Physical Gold 

When investing in physical Gold for your children, there are a few things to consider before making any purchase.

  • Research Gold products to find out what best suits your needs and budget. 
  • Make sure you buy from reputable dealers who can provide certificates of authenticity for their products if necessary. 
  • Understand the tax implications of buying, holding and selling physical Gold so you can decide on the best way to invest in this precious metal for your children’s future. 
  • Research insurance and storage to protect the Gold until your children are old enough to look after it themselves. 

Investing in physical Gold is a great way to ensure that you leave something tangible behind for your children when they grow up. It offers many potential benefits, including liquidity and diversification, but some risks are involved, too, so research carefully before making any purchases.

We are always happy to help you with investment advice, but please be aware that we are not financial advisers. It’s important to do your own research before making any investments.