What can be done with gold bars?
Despite the fact that gold has historically been considered an absolute value to mankind, many people still wonder what they can do with their gold bars. We have previously covered the work of gold exchanges, yet most investors do not choose gold to play on such platforms at all. And that makes sense, because there are a lot of ways that you can do with gold bars.
First of all, what are gold bars?
Even if you have a box full of gold jewelry, remember that bullion is not at all equal to the same weight of earrings or rings. And it's all about the fineness. It is the fraction of pure metal in an alloy. Gold is quite a soft metal, so for jewelry, it is alloyed with other components. As a result, your gold pieces most commonly have a 585 fineness mark, which means that there are only 585 milligrams of pure gold per gram of metal. Sometimes this figure can be higher, i.e. the 858 fineness mark has 0.858 grams of gold in its composition. The gold bars have as a standard 0.995 or 0.9995 grams of pure gold per gram of bar. And this is a completely different value and completely different prospects. We'll talk about them next.
What options for the use of gold bullion can be taken into consideration?
Let's study the most profitable and at the same time simple ways of operating with gold bars.
- Storage. What could be easier and more convenient than storing gold in bullion. If you want, you can rent a safe deposit box for this purpose so that you are not responsible for the safety of the yellow metal. It is quite common for people to store bullion simply at home. They have a convenient format and size, do not take up much space, and for their preservation it is not required to maintain a special microclimate. It is enough to have a regular safe at home, or a vault if your gold reserve is significant in size.
- Convertibility into jewelry. Almost half of all gold in the world is mined for the fashion and beauty industry. Which means, for melting into jewelry. You can follow this trend and sell your gold bars to a jewelry company. Good price is guaranteed. Moreover, if you want, you can order unique author's jewelry for yourself and your loved ones and use the available bars for their creation. This will allow you to get original jewelry at a low price, because in this case you will pay only for the design and work of a jeweler.
- Selling bullion is quite a simple and convenient business. You can get registered at the exchange, you can sell bars to banks or financial institutions, or you can conclude a contract with an industrial enterprise and sell gold for technical needs of a corporation.
- Gold bullion is a perfect gift. If you care about the well-being of your family or friends, a gift in the form of gold bullion will be a worthwhile investment in your family's future. They will be able to keep it until the moment they need cash, or learn to accumulate a gold reserve for the future thanks to your initiative. And the availability of gold bullion in a variety of weights allows you to choose a gift for any budget.
Gold bars combine the stability and durability of an investment with ample opportunities to turn your gold investment portfolio into real money. In addition to their aesthetically pleasing appearance, they do not require complicated storage conditions or a long search for clients willing to buy them.
The company Golden Way offers you high-quality gold bars from its own mine. We carry out all processes from exploration and gold mining to smelting the ore into bars and certifying them in London by ourselves.