How to Get Started Investing in Gold
Since trade and bartering economic systems were established thousands of years ago, gold has been a sought-after, high-valued item. Gold is arguably the most prized commodity in all of human history, from the ancient world into modern times. That’s why we started selling gold bouillon at Judy’s Jewelry Antique and Estate Jewelry, and that’s why you should consider buying gold as an investment.
When and where did investing gold begin?
Because gold has unique qualities and is seen as extremely attractive, it has always been sought. The oldest gold treasure hoard was discovered in a burial site dating back to 4,600 BC in Varna, Bulgaria. Indeed, from the ancient Egyptians to the Aztecs to the Romans, gold hoards have been found across the world, symbolizing wealth and power. The Persian ruler Darius the Great minted the first gold coin, known as a Daric, in 500 BC. For many years, minted gold coins became the financial standard in almost every culture.
In 1792, the United States Congress passed the Mung and Coinage Act. This act created a fixed price on gold that was to parallel the U.S. dollar. At the time, the value of gold in comparison to silver was a 15:1 ratio. That meant that the U.S. was purchasing gold and silver at a 15:1 ratio. The Civil War changed this tremendously. In 1862, the U.S. would no longer be able to meet its debts in physical gold and silver. This lead to the production of the paper dollar and a flat fixed rate. The U.S. would impact gold’s uses and standards because of these laws and changes. Today gold is roughly 75 times the price of silver or at a 75:1 ratio.
Ease of Sale and Purchase
One of the reasons gold is such a popular investment is that it is easily accessible. Gold can be purchased or sold by pretty much anyone. However, it is safer to purchase your gold from a reputable jewelry estate dealer, like our experts at Judy’s Jewelry Antique and Estate Jewelry. As a trustworthy local vendor we provide certifications on the products you purchase from us. We are also estate dealers, and as such, additionally we have the advantage of offering multiple forms of gold for you to invest in along with proper receipts for your future reference.
Looking to invest in Gold? Come visit Sal and John at Judy’s Jewelry Antique and Estate Jewelry. We can show you gold coins, and gold bouillon to purchase as an investment.