This is a set of 75% pure gold medallions manufactured by Salvador Dali. These coins are accompanied by a certificate of authenticity with these words:
We hereby certify that El Salvador Dali Medals are the first oval-shaped medals of the State of Israel. Each carries a color lithograph of one of the Twelve Tribes of Israel, and artwork of Dali. Each is numbered and embossed with the artist’s signature. The medal edge is stamped with the name and emblem of the State of Israel, serial number and metal finess. The Salvador Dali Medals are issued in strictly limited editions.
Question White gold is a great alternative for people who do not have a lot of money but would like to have the look and feel of platinum. Platinum is more expensive than white gold, but when it comes to jewelery made from these two, who’s jewelery is more durable and has better quality? I’m not asking about beauty, since beauty lies in the eyes of the viewer:).
Answer 1 Both white gold and platinum look the same from appearance due to their silver shining color. However, when it comes to pricing, you might notice that a platinum ring with diamonds will actually cost 300% to 600% more than a 14K white gold ring with diamonds.
There are several reasons why platinum is more expensive then white gold. One of them is the color, however, since you do not want to compare them from the appearance perspective, we will move on to another factor.
Platinum is heavier than white gold, therefore, you will not get cheap feeling when you are wearing it. It is also harder than white gold which makes it more durable. However, since it is harder, less ductile and malleable than gold, the cost that is needed to craft platinum metal will be also affected and raised the total of the jewelry.
In jewelry making, platinum jewelry is normally made of 95% of platinum. While for white gold jewelry is normally made of two types of combinations, the first one is a combination of 75% of natural gold with 25% of platinum or palladium and the second one is a combination can be 75% of natural gold with 10% of palladium, 10% of nickel and 5% of zinc. The difference in composition is also one of the factors why platinum jewelry is more expensive.
Platinum jewelry does not need regular maintenance as much as white gold jewelry needs so it can be a real great choice for wedding rings or jewelries that have to be worn all the time. As for white gold jewelry, it may need some rhodium polishing to maintain its luster and to fill up the gold lost due to scratches. Platinum jewelry normally does not lose any metal because of scratches and it does not need polishing to restore its color. White gold can be easily scratched while platinum don’t. White gold tends to change its color due to heating while platinum don’t.
Question I found out today that there is some sort of premium attached to coins, it’s what makes the price of coins higher, so I guess it is a fee of some sort? Could anyone explain a bit more what this premium is exactly and why do we have to pay it?
Answer 1 Premium on products would be the added cost that the manufacturer or the reseller puts on the product in order to cover any additional possible costs that were present during the manufacturing and handling of the item. The same is true for premium on coins.
This kind of discrepancy in price of coins and the spot price of gold is something that confuses newcomers who are only starting in the world of bullion coins. Coins which are made from pure gold and which weigh exactly 1 troy ounce will not have the spot price of gold, which would be around 1700$. Depending on how many hands the coins went through it could have a pretty high price. The mint might add a small percentage of the spot price to the overall price in order to make a small profit, the same is true for the reseller, the middle man between the mint and the buyer. If the coin went through high number of hands it could fetch considerably higher price. The resellers are also adding a small fraction and it could end up as a pretty high price. So premium is sort of like a profit which the people who are handling or reselling the coins add in order to make some money.
High precious metal prices are definitely not one of the situations where you should be making your move and investing in them. The reason why that is the case is because of the fickle markets which could cause you to not lose money, but just wait for a long time on any kind of positive return on the investment. Majority of us have thought about making investments in precious metals, and if you have been thinking about it, and you maybe even decided to invest your money, the least you could do is make sure that you do it properly.
First let’s make one thing clear, when you are investing in precious metals, do not think that what we’ve said just now means that the precious metals could somehow lose their value completely and that you won’t have any kind of money at all. That’s not what we were saying. What we are saying is that precious metals do have its ups and downs, their value oscillates with the markets and if you’re not careful enough, you could end up with a not so very favorable purchase, which is something that is possible and could happen.
Buying precious metals when their price is high is not a good idea. After you do something like this, you’re gonna end up with an investment that’s very expensive. One of the reasons why you should be interested in precious metals when their prices is low is because if their prices was high and has come down, the chances are good that it has the capacity to go back up again. That’s precisely the reasons why you should be doing this type of investments in precious metals when their prices is low.
A lot of you are now probably wondering how can we know when the price is slow, well one way of doing it would be by checking to see just what kind of history the price of the precious metal that you’re interested in buying has. For example, if you were looking into gold, it quite recently experienced an incline in it’s prices and investing in it now is quite a bit more expensive than it was a few months back. One of the things that you could say about the investment would be that it’s gonna be more expensive now, than in the past.
So should you be investing in gold now, when the price is so high? Well there are some people who say that you should, another thing that you need to take into account would be what’s being said on the market about the behavior of a certain precious metals, for example you need to check to see just what kind of things people are saying about gold, if it’s gold that you’re planning to invest in. The reason why you should be careful, because if you’re not, the money that you’re investing in could be tied up in the investment for a long time if it goes down, so be very careful when investing in precious metals when their price is spiking, it could mean that you’ll wait for a long time before masking a return on the investment.
Testing precious metals can be a problematic thing, especially if you are not sure just how to do it properly. The main reason why it might be problematic is because there’s a good chance that the items which you are testing, whether they may be jewelry, precious metal bars or coins can get damaged or worse destroyed beyond recognition. For these reasons you should be very careful when testing precious metals, but one of the most important places where you need to take care that the precious metals are not damaged would be scratch testing.
For those who are not familiar with what exactly scratch testing really is, it’s one of the several ways of how you can detect fake precious metals and it’s used because it’s a very precise test. In order to test the precious metals, it has to be scratched up against a scratch stone of some sorts so that a thin mark of the precious metal surface is left behind. Acids will then be poured on the the mark that was left behind. Depending on how the acid reacts to the precious metal, the tester will know just what kind of quality of gold, silver, palladium, platinum or any of the other precious metals it is dealing with.
Key thing here would be that the precious metal item is scratched, and that’s something that we’d like to turn your attention to. One of the major disadvantages of this type of tests would be that the precious metal item will lose a bit of its weight each time its scratched, not to mention that it’s gonna be damaged as well, it’s surface will lose cohesion and it won’t be as shiny and beautiful as before since there will now be marks present along the surface.
For these two reasons, because there are gonna be loss in weight and because there will be a certain degradation in the appearance of the precious metal item, whether it be jewelry, bullion coins or bars, you need to be very careful not just how you are testing for precious metals with the help of scratch tests, but also how many times something is tested. Excessive testing could cause you to lose a lot of the weight of the item, not to mention that it’s appearance is gonna take a huge hit. Even do each scratch test takes aways only a very small amount of the items weight, given enough tests you’re gonna end up with a substantial lose of the weight, even if it’s 1 gram, you could lose 50-100$ depending on what kind of market price for gold is, if gold is what we’re talking about. Be very careful not to overdue it, and only test when you absolutely have to. Take care of your precious metals.
Mass of the precious metals that you are investing in is very important, because with gold, if gold is what you are investing in, is very expensive. I’m sure that this is not something which you haven’t heard before, pretty much all of the precious metals that exist are very expensive, they are so expensive that even the slightest discrepancy in the size of the precious metal that you are investing in will cause you to lose money, so make sure that you have precise weight of the precious metals bullion bars and coins when you are investing.
Majority of professional precious metal investors are gonna be straight up and not try to cheat or scam you in any way. But if you happen to come across some shady dealers, and just because they offer you lower prices for the precious metal that you are interested in investing. In those types of situations you have to be very careful about what kind of weight the coins or the precious metal bars are gonna have.
Best way and pretty much the only way of how you can weigh the precious metals precisely when you’re buying them would be by using a scale, but not just any scale. Best type of scale that you can use would be a digital scale, which can read out the weight of the items without us having to determine where the scale is, which is what we would have done with old “analog” scales. Digital isn’t the only thing that the scale has to be in order to be good.
The second thing that you need to make sure it that your scale has is accurate. Scales which you should be focusing on the most would be the ones that have grams, in other words the ones that can measure as smaller unit of weight as possible. It would be preferable that you find a scale that can measure miligrams, since it can come in handy when you for example need to measure the damage of testing.
Next to the danger of being cheated with lower weight of the precious metal coins or bars that, excessive testing could also cause problems where miligram scale could come in handy. One of the most widespread ways of testing for the authenticity of precious metals like gold, silver, platinum and palladium would be scratch testing. As you may have noticed we did say that these are scratch tests, and in order to test precious metals like these they actually have to be scratched.
Precise scale here is very important because it’s gonna allow you to check just how much of precious metal weight has been lose due to scratch testing. Even though to actually lose a gram it would have to be some very rough tests in order of the precious metal that are being tested to be affected by the entire processes. With a precise digital scale you can check to see just what kind of weight the precious metals which you are interested in buying have. Next to quality testing, making sure that the weight of the precious metals that you own and are interested in owning really is what you and the seller have agreed it will be, only then go through with the sale.
Precious metals are one of the best ways of how you can spend your money, any excess money that you happen to come across after selling something or after inheriting money, which is something that’s a far more possible to happen. The main account of precious metals will be used for gold and pretty much everything else that you can see for all the other precious metals will gonna gonna into this mix. Radios are a great way of how you can keep up with news, and being informed about the precious metals which you have invested in very important, unless you are using a broker.
Most people will use a broker, a third party which is gonna do everything for them, and the just need to get paid the excess caused by the change in the price of the precious metals that was invested. One of the main drawbacks to using a third party broker would be that you don’t have to worry about any of the work from actually finding the bullion or jewelry of the precious metal that you’ve decided to invest in, to actually taking care of the investment, dealing with gold, silver, palladium or platinum gold bar and coin. Storing and so on. If you actually decided to take are of the cube somewhere else.
The drawback of using a third party middle men would be that they are gonna take a cut of course. Given that in the world today there’s no such thing as free, there’s hardly anything that you can come across that’s gonna be free, so if you are interested, a certain fee is gonna have to be paid to the middle man. This free will of course not be something overly expensive, but it does exist, and if your not careful, it could eat up a lot of the profit that you make off of the precious metals.
Managing the precious metals investment on your own also isn’t something that’s very easy, but if we are talking about maximizing the profits, then you need to make sure that you invest on your own. Inform yourself about all the ins and outs of investments and then once that the time actually comes to make an investment, the markets are favorable for investment, precious metals are acceptable, then do it, buy low, sell high and make a profit, it’ll be more than when using a broker, if done properly of course.