Buy Old Gold Jewelry As funny as it may sound buying old gold jewelry is an excellent and easy way to get into investing in gold - especially for those on a budget. Old jewelry is often referred as scrap gold, the price of the scrap gold item will always reflect the current price of gold. For example someone has an 18k wedding band that weighs 3 grams. 18k gold is 75% pure gold mixed with other metals. The gold price per gram at the moment is around $35. 18k gold is therefore $26.50 per gram so the ring is worth $79.68. As the gold price gold up and down so will the value of your ring in proportion to the amount of gold in it. So you have just made a gold investment for under $100. If you buy 10k or 14 rings then obviously it will get cheaper. The trick is knowing the scrap gold value of an item. If you go to www.in-gold-we-trust.info there is a scrap gold calculator that will calculate the value of any scrap gold item. Scrap gold can be bought easily on Ebay or try your local coin shop or second hand jeweler. You don't want to be paying more than 10% above the scrap gold value of the item though.
Buy Old European Coins Over 100 years ago almost all European countries had gold coins in circulation, these coins contain small fractions of pure gold in them. An Austrian 1 ducat for example has just over one tenth of an ounce of gold in them. A half British Sovereign has 0.1177 of an ounce of pure gold - pricing them at just over $100. The only draw back with these coins is calculating the current value because they all have very odd amounts of gold in them. If you go to www.in-gold-we-trust.info the gold calculator will calculate the current value of any of these coins.
Buy Silver Silver is also a precious metal and its price tends to rise and fall with that of gold (click here for explanation of the Gold to Silver Ratio). It is also much cheaper than gold with an ounce costing under $20 at todays prices. What is even better is junk silver coins - old US coins such as Kennedy Half Dollars , Morgan Silver Dollars, Peace Dollars and So On. The great thing about these coins is that they are very low denomination for example a Mercury Silver Dime will cost you under $2. Its value will always reflect the price of silver and you can keep adding to your collection even on a very small budget. You want to find a dealer that will sell you these coins in small quantities, try your local coin deall or once again Ebay is a great place. The trick with these coins also is to know the current silver value of each coin you are thinking of purchasing. Go to the In Gold We Trust website linked below and their calculator will give you up to the minute prices on all junk silver coins In Gold We Trust is a website offering information on buying and selling and collecting gold and other precious metals. The Scrap Gold Calculator will give you up to the minute scrap gold prices,calculate the price of all your gold coins, junk silver coins, old US coins etc
Junk Silver Coin - Silver Content (ounces)
Seated Liberty 1837-1852 0.07726
Seated Liberty 1853-1873 0.07205
Seated Liberty 1873-1891 0.07234
Barber Dime 1892-1916 0.07234
Mercury Dime 1916 to 1945 0.07234
Roosevelt Dime 1946-1964 0.07234
Barber Quarters 1892-1916 0.18084
Standing Liberty Quarters 1916-1930 0.18084
Washington Quarters 1932-1964 0.18084
Barber Half Dollar 1892-1915 0.36169
Walking Liberty Half 1916-1947 0.36169
Franklin Half Dollar 1948-1963 0.36169
Kennedy Half Dollar 1964 0.36169
Kennedy Half Dollar 1965-1969 0.14789
Trade Dollar 1873-1885 0.78761
Morgan Dollar 1878-1921 0.77343
Peace Dollar 1921-1935 0.77343
To calculate the value of each coin get the current silver price from the website linked below and then multiply that by the silver content in each coin. So for example if the Silver Price is $16 then the value of a Morgan Silver Dollar is 16x0.77343=$12.37.
Remember that when you go and buy these coins the dealer may quote the price in terms of "face" (i.e. face values) in the above example he might quote you 12.3 times face. It is always handy to know the spot price of any coin before buying it so you know how much premium you are paying. For these kind of coins in small amounts it is not unreasonable to pay up to 20% and this premium will get less the more you buy.
<i>The <a target="_new" xhref="http://www.in-gold-we-trust.info">In Gold We Trust</a> is an Online Junk Silver and Gold Calculator that gives easy up to the minute silver dollar values, prices on all junk silver coins as well as scrap gold prices and the value of gold coins</i>