2008 April

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Archive for April, 2008

Staying Safe When Buying Gold Jewelry Online

You may have seen a nice diamond gold ring online that you are thinking of purchasing, you may have seen a gold bracelet. Now this is not a cheap purchase, all too often, this can cost several thousand dollars. Before buying, learn how to stay safe, and get what you plan to get.

Offline in the world, we find many jewelers, and these retail outlets have a nice range or gold jewelry, but the selection often is not great, and the price is pretty standard! You want a bargain, and the best place to go is online.

Today more and more gold jewelry sellers can be found online. The selection is vast, and if one online gold jewelry seller does not have the product you need, then another will. You have much more choice online, but this does not mean you will always get the best deal. Your purchase can easily become more than you bargained for.

There are several ways to protect yourself when buying gold online. The first is to look at how old that site is. How long has that website existed for. Some stores may look nice and modern, but this is no guarantee.

A great way to find out how long they have been around is to look at a whois database. There are many databases online and simply searching for ‘whois’ in Google will give you many sites. You simply type in the domain, and then can find out how long the website has been registered for. The reason for doing this is that an established site that has been around for years is unlikely to run off with your money.

When purchasing online, always try to use a credit card. This acts like a protection. You can generally get your money back from the credit card company, if the site was a scam. However, no one wants this as it generally is a process that can take months, and in that time, you may have to still pay for it!

One of the greatest suggestions I can offer, is that you to look for trusted sites. The websites you have visited over the years. eBay is great, but again, we are dealing with independent sellers. There is no guarantee there either, that you will get what you purchased. However, looking at feedback can help.

There are many more websites online that sell gold jewelry, and many are working, and many can get you your product in time, at the best prices. However, keep an eye on the price. If you see several other stores offering a similar item around a certain price, and one sticks out like a sore thumb with a price drastically different, then this can be a thought for concern.

Some sites will also have the ‘hacker safe’ logo. These sites are generally ones which value you a lot. They have to pay money to get that certification that the site is safe. Though not all sites have this kind of logo. Another way in that case is that when you purchase, look at the address bar. Make sure that the site is using https:// when your order goes through. Also make sure the connection is encrypted.

A last point before closing the article. When spending several thousand dollars online, try calling the company or send an email. If a company responds within 24/48 hours, it is likely you will get your order.

Gold As An Investment

For thousands of years, men and women have held gold in high regard. We want more of it! And this is not down to greed, but rather the soundness of gold. Gold is a stable investment; the price does not fluctuate as drastically as oil or the stocks on the stock exchange. Before you go and buy your hundred grams of gold investment, consider these points.

Everyone wants a gold bar. It is the epitome of wealth, after all, you likely have a wealth strategy, and if you don’t then hopefully this will make you consider it. Usually investing in gold bullion comes after investing in high yielding savings accounts, stocks and bonds, and other investments, art possibly.

A good strategy is to have 1-5% of your wealth in the form of gold. As I stated earlier, gold is stable. A look at the price of gold does not show major differences. You will not see gold increase 30% in a day, and likewise, you will not see that kind of decrease, so this makes gold such a good investment strategy (to keep just on top of inflation).

Looking for a gold bullion bar will show you many sizes. From ounces to grams, right up to the kilograms if you really want to invest in gold bullion bars, you can. However, buying these amounts of gold in one piece can cause many problems in the long term.

Imagine for a moment, you invest in this gold bullion bar. Now, you have one big piece of gold. That is great! However, looking long term you likely want to pass that gold to your spouse, your children or even a charity when you leave this world. And what about if you really need to sell it to free up some cash in an emergency? The gold bullion bar will at some point in time be exchanged for cash.

Now, it is not as simple as buying the gold bar. Now, you also need to consider how you can convert the gold bar to cash. There are not that many places that will buy the gold bullion bar, and some of the places selling gold bullion bars may not be interested in buying your gold bar back.

This leaves you in a dilemma. One option is to cut the gold bar, but no one wants to do that! The gold bullion bar has stamps on it, which indicates its authenticity.

An overlooked option is gold bullion coins. Coins are small enough that there is no need to cut them to pieces! Also if you should need the cash, then you can sell some of the coins and keep the rest, thus preserving at least some of your original investment.

Gold bullion coins can also be more easily split up in your will. You can distribute some to each of your loved ones, and everyone is happy. Gold bullion coins are also more readily available, and as such more people are willing to buy them. You can even increase your holdings over time, by buying gold bullion coins every few months or once a year, and have a pouch of gold coins!

The price of the gold bullion coins does have its own problems. For example, they need to be kept in pristine condition. Obviously the benefit also is that well kept gold coins may actually be worth more than the base gold value.