Gold is a wonderful asset which is globally important. For many, it serves a dual purpose of being both an excellent investment, and a personal adornment. It can fashioned into many different types of luxury goods and portable assets, including jewellery, watches and ornaments, besides being stored in bars, and used directly as currency in coins. People have owned gold, worn gold, traded in gold, pawn gold, bought and sold gold and importantly, valued gold for thousands of years.
Widely used throughout the contemporary and historic world, this ongoing popularity can be accredited to its relative durability and adaptability of characteristics to suit a wide range of different purposes. Fulfilling many separate requirements, for example being a certain hardness to ensure durability, having a particular depth of colour, or being pliable enough to be worked into delicate shapes, gold is the perfect material to be used for a range of very different purposes.
For certain uses, gold comes in different purities, ranging from 9ct to 24ct. Jewellers, valuers and pawnbrokers all assess jewellery based on the carat gold it is fashioned in. The higher the carat, the higher proportion of pure metal the piece contains, and therefore the higher price a pawnshop or jeweller will pay for the piece. A ring can be fashioned in 22ct gold, making it very valuable, but also gold is accessible in jewellery as the same piece can be made in 9ct gold.
The carat of gold also makes it simple to value without seeing it. There is a price index for gold, which can be accessed online, making a price for different items made from gold easy to calculate from a distance, based purely on weight and carat. Gold can be valued by metal dealers, online pawn shops, pawnbrokers online, and valuers at auction houses just by knowing the carat and weight of the piece.
It can be stored and transported relatively easily, due to its stability and relatively small weight-to-value. This makes it an ideal asset for the physical storage of wealth. Vaults, safes and bullion investment companies all have the facilities to easily store precious metal – as the environment it requires is relatively simple. Even companies who are not so specialised for precious metal, for example lenders and Pawn shop London and UK wide, largely all have the facilities to store an amount of gold onsite. This is because all that gold requires to be stored well are a relatively stable ambient temperature (but it can also cope with the heat, humidity, damp and cold), and a secured safe or door to store the assets. In comparison, storing antiques, textiles, pictures and other assets require specific temperature and humidity stable conditions, low levels of light exposure, protection from moths and other infestations, as well as specialised wrapping and protection from dust and physical harm. Therefore Pawnbrokers gold will be as well stored as that found in a private vault or from a bullion seller.
It is easy to see why it is so globally popular and important. As an investment, it is simple to understand, assess and store.