This month we celebrate the Queens Platinum Jubilee and its time mark the occasion.
Whether or not you are a strong supporter, you have to admire her 70 years of unbridled service to the nation and respect all of the events she has lived through and still be heading the State today.
The daily news seems to feed off doom and gloom and thrives on giving the nation a dose of negativity every morning to put us into a subdued mood. As retailers, we dread the headlines as it sets the tone for the week with warnings of ‘apocalyptic food prices’, spiralling inflation and record-breaking fuel bills. However, when you consider what the Queen has witnessed in the last 70 years, we always seem to get through and it’s really the cyclical nature of the world and its economy. For her it must be just another day at the office!
Every Jubilee anniversary is linked to a precious metal so to celebrate the event Christopher Brown Jewellers are giving a 3 for 2 on all silver jewellery, and amazing discounts with Managers Specials on gold and platinum throughout our stores.
So much is talked about gold, I thought it would be interesting to look at what has happened to the price of gold over the Queens 70 year reign despite all she has lived through.
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.
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 is what my business is all about. Gold is the primary asset used when we make our pawnbroking loans, is bought and sold in the form of sovereigns or ‘old gold’ when customers wish to buy or sell some of their assets and most importantly makes the most beautiful jewellery to wear and stunning gifts 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!
We will never see another Platinum Jubilee in our lifetime. These events are linked to precious metals because they are so special. Make sure you mark the event for the generations to come by buying something to treasure in platinum, silver or gold from Christopher Brown jewellers and benefit from the amazing offers we have to celebrate this special occasion.
Christopher Brown Jewellers have 8 branches across the north with 5 in our region. Visit Christopher Brown jewellers at Seacroft, York, Shipley, Pontefract and Stockport or Brown & Gold Pawnbrokers at Batley, Toxteth and Prescot.
For further information about our products and services visit www.christopherbrownjewellers.co.uk and use our branch locator to visit your local branch and find out more about our pawnbroking lending and gold buying service.
Most of all, enjoy the Jubilee events and celebrate with some special metals!