GrahamBristol
Registered Shopper
- Joined
- Jun 13, 2014
- Messages
- 121
So this evening 3.7g of 22 carat gold as a spiga chain for £899.99. And the presentation is majoring on how much this is worth as it is 22ct gold. Talk of people investing in gold etc etc. Of course the truth is buried and it isn't a complete con, HOWEVER.
If you want to invest in gold I would suggest but not recommend - a gold sovereign weighs 7.3224g and will cost you in the region of £550 today. So a higher purity and twice the weight (except for 0.0776g - but what is that between friends!) and less than two thirds of the price (again very rounded). But simply put the sovereign is more for less. Of course pure gold is available in other coins and ingots and if you have the funds for a 1 oz coin or a kilo bar you would get a better price per gram!!
I get it that if you buy a chain it has function but you need to be in it for the long run if you are hoping to ever be able to sell the chain and get your money back. Admittedly as a seller you will also immediately loose money the moment that you buy the sovereign too but at least it is far more saleable as it is always worth its weight - selling that gold sovereign today you should manage to get £500.00 back
Just wanted to vent!!! If you want to buy a gold chain because it is pretty then by all means go ahead. But the inclusion of 'people invest in gold' is near to 'miss selling' in my opinion.
If you want to invest in gold I would suggest but not recommend - a gold sovereign weighs 7.3224g and will cost you in the region of £550 today. So a higher purity and twice the weight (except for 0.0776g - but what is that between friends!) and less than two thirds of the price (again very rounded). But simply put the sovereign is more for less. Of course pure gold is available in other coins and ingots and if you have the funds for a 1 oz coin or a kilo bar you would get a better price per gram!!
I get it that if you buy a chain it has function but you need to be in it for the long run if you are hoping to ever be able to sell the chain and get your money back. Admittedly as a seller you will also immediately loose money the moment that you buy the sovereign too but at least it is far more saleable as it is always worth its weight - selling that gold sovereign today you should manage to get £500.00 back
Just wanted to vent!!! If you want to buy a gold chain because it is pretty then by all means go ahead. But the inclusion of 'people invest in gold' is near to 'miss selling' in my opinion.
