The jewellery experts at Hatton Jewellers have revealed their 5 top tips for investing in gold.
- Ensure Authenticity Of Gold Jewellery
Always buy your jewellery from an authentic, reliable supplier. Less reputable brands are known to offer gold-plated jewellery whilst labelling it as authentic fine jewellery. The four precious metals – gold, silver, platinum and palladium – all require testing and hallmarking to be legally sold as genuine. To check the authenticity of your supplier, find customer reviews from genuine review websites such as Trustpilot.
Trusted online jewellers should also have an Assay Assured certificate or be listed in Assay Assured’s online jewellery retailer directory. Buying investment jewellery from a jeweller that offers returns, also ensures you receive exactly what you expected.
- Choose A Plain Solid Gold Piece Of Jewellery
When you’re buying a piece of jewellery that is very detailed it means you’re also paying for labour on top of the value of the physical gold and gemstones that are used. This is also one of the main reasons why watches are more expensive than other jewellery types in terms of price per gram of gold.
If you’re looking for investment jewellery, we recommend buying a solid gold chain or bracelet, as these pieces usually require minimal craftsmanship. Gold sovereign coins are also popular as investment pieces – they do not require any craftsmanship and can be easily melted down.
- Professional Appraisal
One of the first steps for buying any investment jewellery is to calculate its worth, from here, you can determine how much you should be paying for the piece in order to make it worthwhile. Some jewellery stores offer professional appraisals upon purchase, if your jeweller does not offer this service, we always recommend getting this completed by a third-party.
- Take Out Insurance
It’s recommended to keep your jewellery investment for a minimum of 15-20 years to make the most out of your gold but you never know what could happen in this length of time. Protect your assets with insurance for the correct value. Having jewellery valued on an annual basis ensures your insurance is up to date.
- Buy Jewellery You Like
You should only invest in jewellery that you actually like. Part of the fun of investing in jewellery is buying fine pieces that you can enjoy wearing. If you’re shopping for something that you like, then you’ll be more patient with the shopping process, and you’re more likely to make smarter purchasing decisions.