While silver has previously been considered the precious metal to buy, the spotlight is on gold. It isn’t just those in the food market that are turning to the yellow metal, but also collectors who see its value increase.
Are you looking to start grabbing gold as a long-term investment? Several types of gold can get confusing.
If you’re thinking of buying gold and need help figuring out where to begin, keep reading to learn about the different kinds and their uses.
Karat Gold is a distinct gold type widely used in jewelry making. It is composed of a combination of pure gold and other metals, usually copper or silver, to create a metal alloy.
Karat Gold is usually measured from 10 to 24 karats depending on the ratio of pure gold to other metals. The higher the karat number, the larger the percentage of pure gold.
Karat Gold not only looks beautiful but is also very durable and can withstand daily wear and tear. Despite its durability, it is not recommended for items that will come into contact with water, such as swimming jewelry, as higher karat numbers can cause the metal to corrode quickly.
24 Karat Gold
24-karat gold is the absolute highest form of karat gold, meaning it contains the highest amount of pure gold content. 24 Karat gold is not mixed with any other metals, making it the most valuable and luxurious gold. It is soft to the touch and, when polished, reflects a bright, deep yellow color, unmistakably gold. 24K gold is usually used for high-end jewelry. Its high percentage of pure gold makes it too soft for everyday wear and tear and more prone to accidental scratches and dents. Compared to other karat gold, 24K carries a higher worth based on its pure gold content and scarcity, making it the most sought-after and precious gold alloy.
22 Karat Gold
22 Karat gold is a type of gold alloy that contains 22 parts pure gold out of 24 total parts. It is the highest purity of gold alloyed with other metals such as copper and silver, making it more durable and harder. This type of gold is considered extremely valuable not only for its rarity but because of its beauty.
The combination of metals makes 22 Karat gold more scratch resistant and less likely to tarnish than other karat gold varieties. Its warm yellow color is more striking than the duller colors of less pure gold alloys.
18 Karat Gold
18-karat gold is unique because it contains 18 parts of gold and six parts of other metals, such as silver, copper, or zinc. 18-karat gold usually has a rich yellow color, but depending on the type of alloy added to the gold can result in different colors of gold. The value of 18K gold is also affected by the purity of the gold being used. The higher the purity, the higher the value.
14 Karat Gold
14 Karat gold is a unique type of gold due to its composition. It is approximately 58.5 percent gold and 41.5 percent alloys, usually copper or silver.
The gold and alloy content gives the metal its unique color and strength, along with other desirable metals such as nickel, zinc, or palladium. Due to the lower gold content, it’s also typically much more affordable than higher karat golds. It’s incredibly popular, as it’s gold enough to take advantage of all of gold’s benefits but cheaper than pure gold and alloys that will only wear out slowly as other alloys may.
White Gold is a type of gold alloyed with different metals, usually silver, palladium, and zinc, to give it its white look. It is also sometimes referred to as “dipped gold” or “rolled gold” because of its process of being dipped or rolled into sheets or bars.
Unlike yellow gold, which is instantly identifiable by its yellow hue, many people are unaware that white gold is a type of gold. Refined white gold is often used to craft jewelry. Its silvery hue pairs nicely with many gemstones and other metals. White gold tends to stay shiny and new for much longer than yellow gold, and its durability makes it the perfect choice for pieces meant to last a lifetime.
Rose gold is a type of gold with a unique reddish hue. Its name comes from its rose-colored hue, created by alloying gold with copper.
Rose gold has become increasingly popular in recent years, as it has been used in jewelry, watches, and fashion accessories. The rose gold color is subtle and elegant, making it perfect for subtle and minimalist jewelry designs.
Rose gold is also said to represent love and romance, making it a popular choice for engagement and wedding rings. Rose gold is considered a cooler colored gold than the common yellow gold, making it ideal for colder climates.
Bullion is a type of gold used as a collectible investment or a store of wealth. Bullion comes in bar or coin form, with coins generally easier to buy and store due to their smaller size and acceptance as legal tender.
Also, bullion is a type of gold that has been used as a currency since the dawn of civilization. Various factors, including supply, demand, and market conditions, determine gold ounce price.
A gold ounce has approximately 31.1035 grams of pure gold, and prices fluctuate throughout the day. That’s why bullion is most popularly purchased in 1 oz (ounce) size, although other sizes are available. Gold bullion is considered a safe and secure investment option, providing a store of wealth and diversification from other assets.
Invest in Your Future With These Types of Gold
Collectors now have a comprehensive guide to the different types of gold. While gold is a highly sought-after commodity, it is important to understand the many forms that it comes in.
With this collected knowledge, a gold collector can confidently decide how to spend their money when adding gold to their collections wisely. Now is the perfect time to start a gold collection and diversify your investment portfolio.
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