The Complete Guide To Buying Gold
Investing in a stunning piece of gold jewellery is a purchase you should look forward to, whether it’s a gift for a loved one, such as an engagement ring, or a piece for yourself, perhaps a stylish gold chain. But there are quite a few factors to consider when choosing your stand-out piece of gold jewellery.
In this blog, we’re going to answer some of the most common questions asked on how to buy gold, where to buy authentic sold gold from, the different types of gold available to buy and more. Explore our complete guide to learn everything you need to know before buying your next timeless gold accessory.
What Are The Different Types Of Gold?
Although yellow gold is likely the first thing that comes to mind when gold is mentioned, there are other variations too. The term gold also encompasses white and rose gold variations, which have become extremely popular choices for jewellery in recent years
Each of these types of gold has different benefits and complements other colours of jewellery in unique ways, so it’s important to understand which gold metal is right for you before making a purchase.
Yellow gold is the most iconic of the three types, due to yellow being its natural colour. However, gold can’t be used for jewellery in its purest form as it’s too soft, so, to improve its durability, yellow gold is mixed with an alloy metal such as copper or zinc.
Yellow gold has been used in jewellery for decades and is a popular choice for wedding rings, chains and necklaces.
White gold is also mixed with an alloy metal, such as nickel or zinc, at a ratio of 75% gold / 25% alloy. To give white gold its bright white colour, it is often dipped to help it achieve a shinier appearance. This type of gold is highly durable and can last many years, especially if the alloy metal percentage is increased.
White gold is a stylish alternative to yellow gold and is commonly used for engagement rings and bracelets
Rose gold also features an alloy metal, just like white gold, but instead uses copper to acquire its ‘rose’ colouring. Its unique appearance and subtle colour has given rose gold connotations of romanticism and femininity.
Rose gold has experienced an incredible rise in popularity since the 21st century and is often used for eternity rings, lockets/pendants and earrings.
Choosing a type of gold
Regardless of which type of gold you choose, it’s important to only buy solid gold jewellery if you want your piece to last. Fake gold, or plated gold, is often masqueraded as solid gold but in fact it is just another metal coated in a thin layer of real gold. If your jewellery is gold plated it will likely chip over time, revealing the non-gold metal beneath the outer coating.
Buying Gold Jewellery
If you’re looking to buy a stunning piece of gold jewellery it’s likely either a gift for a friend or family member, a treat for yourself or an investment. Your intentions as a buyer will probably vary depending on why you’re buying gold.
Purchasing a piece of gold jewellery as a gift is a wonderful way to show love and affection to a partner, friend or loved one. Taking into account that a person's interests and preferences will help guide you to making a purchase that will be cherished by them for many years to come.
Treating yourself to gold jewellery
Buying a piece of gold jewellery for yourself is a journey that will be guided by budget and preference. Firstly, how much are you aiming to spend on your next piece of stunning gold jewellery? And which style do you like the most? Once you’ve answered these two questions you’ll be well on the way to wearing your new purchase.
Gold has long since been a great investment as its value very rarely decreases and can endure in times of economic hardship.
Choosing which piece of gold to invest in will stem from its worth. To find out the real value of a piece of gold you’re looking to buy, you’ll need to seek professional appraisal to ensure you’re paying the right price for it.
You can learn more about buying gold jewellery as an investment in our blog.
How To Buy Authentic Gold
The first step when buying gold is choosing a trusted seller who will offer you proof that the gold you’re buying is authentic. Without certification or other means of authentication, such as a hallmark that will be clearly visible on your jewellery, you can’t be certain that the gold you’re purchasing is real.
How to choose a reputable seller
Choosing a reputable seller is important, so you’ll need to know how to look for one. Reading online recommendations and reviews from previous customers is a great place to start. This will give you first-hand information on the quality of products that the jeweller supplies.
Another way to find out the reputation of the seller is by looking for professional accreditations. Hatton Jewellers is an Assay Assured Jewellery Retailer, a status only given to retailers who have been independently audited and verified by Assay Assured. This means our customers have total peace of mind that all precious metal jewellery (except items exempt by weight) bought from us are independently tested and hallmarked.
Explore the full list of tips in our ‘How To Spot A Trustworthy Jeweller’
How should you buy gold?
Buying your gold in person is a safe way to acquire your gold straight away, ensuring it doesn’t get intercepted or lost during shipping and you can also receive a receipt for your purchase. Alternatively, you can buy online, which allows your gold to be safely delivered directly to your home.
If you choose to buy online, you can exercise a variety of payment methods, including cryptocurrency which Hatton Jewellers now accepts.
Buying gold with cryptocurrency
Cryptocurrencies have quickly become a valid and widely-accepted payment method, as it allows you to securely and conveniently make a payment without worrying about exchanging currencies, transaction costs or data breaches.
When making significant transactions online, which is common when buying high-quality gold jewellery, it’s best to ensure you’re doing so with security in place. Cryptocurrencies, such as Bitcoin and Ethereum, allow you to make these secure transactions and do so extremely quickly without a third party authorising the transaction.
Buying in full
You can buy your jewellery using standard currency in a single payment, using cash or card, if that works best for you.
Using a payment plan
If you’re unable to pay for your chosen piece of jewellery upfront, that doesn’t have to stop you from walking away with a beautiful new accessory. With a payment plan, you can pay for your jewellery in instalments, to ensure it's more affordable. At Hatton Jewellers, we offer finance through Novuna, which can be applied on orders over £100.
Where Is The Safest Place To Store Gold?
If you’re investing a considerable amount of money in high-quality gold jewellery or valuable gold bars, you should ensure that it’s safe once stored. But where do you store your gold to guarantee its safety?
Keep your gold at home
Storing your gold in a secure place within your home under your own supervision is a popular option. Opting for a personal safe to house your gold will prevent anybody from stumbling across your stores and if it’s under lock and key, you can protect it from any potential break-ins.
Use a bank's safe deposit box
Keeping your gold in a bank is a smart move. By doing this, you’re able to protect your gold with all of the security a bank offers, giving you exclusive access to your precious pieces.
Store your gold with a third-party
You can choose a third-party storage facility to look after your gold but it's not the safest option. If you do decide on this option, it’s crucial to make sure that you choose a storage facility that is secure and supplied by a trusted company. You will also have to consider the additional costs of renting storage space to house your gold.
Buying Gold Jewellery From Hatton Jewellers
At Hatton Jewellers, we offer a range of stunning gold jewellery in a variety of styles and gold types. Whether you opt for a gorgeous rose gold engagement ring or an extravagant 18ct chain, you can shop with peace of mind knowing that you’re buying from a reputable, trusted stockist.
To learn more about buying gold, bookmark the Hatton Jewellers blog and follow us on Facebook or Instagram for all the latest advice!