Tag: buy gold

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Gold Investment Tips For Beginners

If you are looking to start investing in Gold, there are a few points to consider before you make your first investment. Gold is a brilliant way of preserving wealth from one generation to another as it has a history of holding its wealth. Its natural scarcity and high production cost are the main reasons it holds value. 

Keeping an eye on the price of Gold 

Keeping an eye on the price of Gold is key. Gold prices are continuously updating; when you are looking to buy Gold, keep an eye out on what is happening in the property and stock exchange markets. Generally, if the other markets are underperforming, then the price of Gold will rise, and many companies and investors will use Gold as their insurance backup. 

With Gold, you have to look at it as a long-term investment. Ideally, you will keep your Gold for many years. Therefore, people buy Gold to have a timeless asset and preserve their wealth to protect them during any financial crisis. 

Different types of Gold investments 

Throughout history, Gold ownership has been reserved for the rich, but we at J Blundell & Sons want to make the ownership of precious metals accessible to everyone. 

There are three main options if you are looking to invest in physical Gold. You can either buy Gold bullion, coins or jewellery. 

In one of our recent blogs, how to invest in Gold, we went into detail about each option and why people choose each option. 

How to keep your Gold investments safe 

Our last blog talked about the three main options for keeping your Gold investments safe and secure. You can either store it at home, in a bullion bank vault or in a safe deposit box/consumer bank. Of course, it is always important to take our appropriate insurance to protect your Gold. 

If you are at the start of your Gold investment journey and would like any advice, you can always give us a call or drop by and see us in Hatton Garden, London.

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How to store your Gold securely. 

In our previous blog, we discussed how to invest in Gold and briefly discussed how to store and insure it. This week we will delve a little deeper into the various ways you can store your Gold securely once you have invested in it. 

There are three main ways you can store your Gold. At home, at the bank or in a secure vault. There are pros and cons for each option which we will discuss below. 

Storing Gold at home

Storing your Gold at home is the cheapest option, but it does come with its risks. If you plan to store at home, you need a home storage plan. It is always a good idea to tell one trusted person where you keep your Gold in your house. 

If you are investing in Gold to protect and preserve your family’s wealth, it is a good idea to tell a trusted family member or friend where you are storing your Gold at home. If you become unwell or have a major accident, you have a trusted person who can get your Gold for you. If more than one person knows where your Gold is stored, then the risk of theft is increased, so it is essential to keep the storage place top secret. 

If you are storing your Gold at home, keeping your Gold investment activity secret would be beneficial, so you don’t become a target. Don’t talk to your friends about your investments or post about investing in Gold on social media. If you have kids, avoid talking to them about your Gold investments, as you don’t know who they are talking to. If you own a large home, drive an expensive car and wear valuable jewellery, you could already be a target for thieves, so it would be better to look at other options for storing your Gold securely. 

If you are storing your Gold at home, it’s essential to take out insurance to cover your Gold in case someone did attempt to steal it. 

Storing Gold in a bullion bank vault 

Storing your Gold in a bullion bank vault is a highly secure option for safekeeping. If you have it in a vault, it remains in your full ownership, and you can keep all of your valuables in one place. You also have the flexibility to sell your Gold or have it delivered to you. Most people who look at storing Gold in vaults are owners of large amounts of Gold; most vaults only accept a minimum of 1,000 oz. 

It costs money to store your Gold inside secure vaults, so that is something to bear in mind when looking for storage options. Also, vault storage usually comes with insurance, so always enquire about it when looking for vaults to store your Gold. 

Bullion bank vaults are usually located in major cities, so this option may not work for you if you live outside a major city. 

Storing Gold in a safe deposit box/consumer bank 

Storing your Gold in a safe deposit box at a local bank is one of the most common storage options. This type of storage is convenient and secure; however, you have to take out your insurance, and you can only access your Gold during the bank’s opening hours. 

A bank like Halifax has three options for safe deposit boxes. The smallest option at £200 per year is perfect for jewellery and Gold coins. The second size, at £325 per year, is ideal for collections of valuables or important documents. Finally, the largest size is £475 per year and is used for single large items such as a valuable Gold bullion bar. 

If you want to invest in Gold, it is crucial to have a well-thought-out storage plan to keep your investment safe and secure. As mentioned above, there are three main ways to store your Gold, it will be down to you to determine which option works best for you, but we can always advise you if you have any further questions. 

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 How To Invest In Gold

Gold has been around for as long as we can remember and has always been a symbol of wealth. People have been investing in Gold since 550BC when Gold was first used as a form of currency. One of the reasons that people invest in Gold is because it is a way of preserving and protecting wealth. 

There are three main options if you are looking to invest in physical Gold. You can either buy Gold bullion, coins or jewellery. Investing in physical Gold has many benefits; it is timeless and offers a safeguard against any turbulence in the financial market. This blog will discuss the three types of physical Gold options in more detail. 

Gold Bullion:

Gold bullion is pure Gold formed into bars or oblong blocks so they can be stored in vaults easily. In the UK, if you buy a Gold Bullion bar with a purity of at least 99.5% (we only sell 99,999% purity bars which are 24ct) then they are investment-grade Gold and VAT-free. If you are buying Gold bullion and storing it at home, you should ensure that you have included it in your home and contents insurance to cover you in case of theft. 

To get protected, you must provide proof of purchase and all relevant documents to validate the insurance. It could be a good idea to store your Gold in a safe deposit box at the bank or with us; it is a much safer way to protect your Gold. 

Gold Coins

Many people decide to invest in Gold coins as they are smaller and, most of the time, more affordable. Gold coins have had a very long history as a currency and hold a lot of value. It can sometimes be better to invest in ten 1oz Gold coins instead of one 10oz Bullion bar so that if you need to sell some of your Gold, you can sell a portion of it and keep the rest rather than having to sell a whole bar. 

The beautiful and intricate designs of the Gold coins are another reason why people invest and collect them. Different coins are available, including The Sovereign and The Britannia. These two coins, in particular, are leger tender in the UK, which means they are exempt from Capital Gains Tax and VAT.

Gold Jewellery 

Buying Gold jewellery is another way for people to invest. People have been buying Gold jewellery for centuries, it is always in high demand. A Gold bracelet can be re-sold quickly for cash and can be transformed into coins or a bar if needed. If you purchase jewellery, it’s essential to make sure that it is authentic and bought from a reliable supplier. Some people accidentally purchase costume Gold jewellery that is being passed off as the real deal and end up getting stung when they find out their investment isn’t worth anything. If you are buying Gold jewellery online, always check that it is Assay Assured verified; you can check here. It is also important to remember that the cost of jewellery is made up of gold cost and the making/manufacturing cost. This cost can be up to 50% of the total price of the jewellery.

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A short history of Gold

“The Golden Rule: He who has the gold makes the rules.”

Gold has always been viewed as one of the most precious metals throughout history. 

Gold is the only metal with a distinct golden colour and is also one of the rarest natural minerals.

Did you know that nearly all of the Gold on Earth came from the supernovae and neutron star collisions which resulted in an explosion creating atoms of Gold? Scientists believe that Gold buried itself deep into the Earth’s core during the creation of Earth, and geologists have even found rocks of Gold as old as 4 billion years.

Since Gold was so precious and rare, in around 550 BC, Gold started to be mined and used as a currency in Greece and the Middle East. Gold was used as a currency in many countries before paper money was created. When paper money was introduced, it was called the Gold Standard. The Gold Standard set a fixed price for Gold which determined its value. The paper money was linked directly to the Gold, and countries agreed to convert the paper money into a fixed amount of Gold. 

Still to this day, Gold is one of the world’s most useful and highly valued metals. Even though it is technically a heavy metal, it’s very soft and can be moulded and shaped into jewellery. Gold is also used for Olympic medals and trophies; it can even be used to conduct electricity. 

Today many people, including governments, hold investments in Gold. Buying Gold as an asset can help protect your wealth in the long term and be an excellent addition to your investment portfolio. Gold can never be destroyed and can not be altered or hacked like some investments in the digital world. 

At J Blundells & Sons, we’ve been trading Gold since 1839. We’re a family-run business based in the heart of London’s famous jewellery district, Hatton Garden. If you are interested in buying Gold, we’d love to help you take that first step.