Gold remains the hot topic again this month as the price remains at an all time high and shows little sign of dropping back. There have been some fluctuations during the last month including breaking new records on the price but overall this is a very interesting opportunity for investors and sellers alike.
As a result, we have had a record gold buying month with one investor selling his lifetime collection of gold sovereigns and coins worth over £70,000 and many more people bringing in their gold chains, rings and scrap gold to cash it in while the price is so strong.
Equally we have just as many people looking to buy and invest in gold jewellery and coins and as soon as we supply more sovereigns to the branches they are snapped up by investors. Our pre-owned gold jewellery is less than half the price of its new equivalent. As buyers and sellers of second hand, we are one of the few remaining retailers with a big selection of heavy gold chains and rings on offer as its simply too expensive for people to buy them new so most retailers simply don’t stock heavy gold any more. You might find a few large gold plated silver chains in a typical high-street jewellers, but if you want to buy the genuine high quality solid gold original, you should visit one of our branches.
The message from this is simple – if you have cash to invest and want it in a material you can own and touch, then when you look at the performance of the metal over time, it’s been a great investment. However, if you need to raise some funds and have a collection of coins, jewellery or even some scrap gold, now is a fantastic time to turn it into cash as the price has never been as strong in our lifetime.
If you need further persuasion, just look at the performance of gold over recent years. Originally the price of gold remained remarkably stable for long periods of time. From 1699, Sir Isaac Newton was in fact the master of the U.K. Mint and he set the gold price at £3.17s.10d. per troy ounce in 1717. It remained effectively the same for almost two hundred years until 1914, the start of the first world war.
The market price for gold has been free to fluctuate with world prices since then.
Gold Price Change Since 2000
The UK currency used to be backed by the ‘Gold Standard’ meaning the Bank of England had a gold reserve equivalent to the value of the money it circulated.
However, in 1931 we left the gold standard and now only 4% of our currency in world circulation is physically backed by gold. That said, we still have the 2nd highest gold stores in the world (after the US) with over 400,000 bars worth over £200 billion.
The buying, selling and use of this beautiful metal to make stunning jewellery or to lend people money against when they need it most, is what my business is all about. Gold is the primary asset used when we make our pawnbroking loans. It is bought and sold in the form of fine jewellery or sovereigns and makes the most beautiful jewellery to wear that will stand the test of time for generations to come.
However, did you know that gold is the only metal on earth that is naturally yellow or “golden”?
The purity of gold is measured in carats with pure elemental gold being 24 carats and 100% ‘pure’. However pure gold is very soft so it is mixed with other metals such as silver, copper (especially to make rose gold) or nickel to add strength and make it go further!
Therefore, 18ct gold is 75% pure gold, 14ct gold is 58.5 % pure gold, and 9ct gold is 37.5% percent pure gold. In fact 9ct white gold is actually yellow gold mixed with white metals such as nickel, silver and zinc to make it a very pale yellow colour. It is then plated in rhodium to give it its bright silver finish.
5 Golden Facts…..
● Nearly all the gold on Earth came from meteorites that bombarded the planet over 200 million years after it formed.
● The element symbol for gold—Au—comes from the old Latin name for gold, aurum, which means “shining dawn” or “glow of sunrise.”
● Gold is extremely soft or ductile. A single ounce of gold (about 28 grams) can be stretched into a gold thread 5 miles long or beaten into a 300-square-foot sheet.
● Although gold is a heavy, dense metal, it is largely nontoxic. Gold metal flakes may be eaten in foods or drinks.
● Only 142,000 tons of gold have ever been mined throughout history however there is an estimated 9 billion tons of gold in the sea we will never be able to extract!
Christopher Brown Jewellers have 9 branches across the north with 6 in Yorkshire. Visit Christopher Brown jewellers at Seacroft, York, Shipley, Pontefract, Goole, Stockport and Prescot or Brown & Gold Pawnbrokers at Batley and Toxteth to see our fantastic range.
For further information about our jewellery, pawnbroking and gold buying services visit www.christopherbrownjewellers.co.uk and use our branch locator to visit your local branch or find out more about our pawnbroking lending and gold buying service
Don’t miss out on this golden opportunity while the price is right!
Christopher Brown
