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Gold coins - 22kt or 24 kt?

Discussion in 'Money Matters' started by satin, Nov 30, 2010.

  1. satin

    satin Silver IL'ite

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    I am planning to buy some gold coins for a huge amount but am not sure which one to buy,shoudl I go for 22kt or 24 kt ones,I will be using it to buy jewllery later probably after 10 yrs or so or I will also keep it as an asset and pass it on to my children.ANy input would be useful.


    thanks
     
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  2. ArathiSingh

    ArathiSingh New IL'ite

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    HI,

    I suggest you to go for ICICI or AXIS Bank gold coins . These banks have in 1gm,2gms,5gms,10gms denominations. The gold will be of 99.9carats gold which is 24kt.

    Thanks,

    Arathi
     
  3. orion80

    orion80 Platinum IL'ite

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    Please go for certified gold coins. As Arathi mentioned, they are 24kt gold.

    Non-certified gold coins dont get the same rate of return as 24kt certified ones as the jewellers say that they might not be 100% pure or show less purity than they actually are.

    -Lakshmi
     
  4. satin

    satin Silver IL'ite

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    Thanks Arathi and Lakshmi for your input! Definately your input will be very very helpful for me as I am investing a huge amount in it!Thanks again!
     
  5. satin

    satin Silver IL'ite

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    One more question,I am planning to buy around 200 grams,I heard that we should not buy in large weight or the minimum one,which one do you both suggest,I mean should I go for coins in 2 grams or in 50 grams,would like to hear from you and others.

    thanks
     
  6. orion80

    orion80 Platinum IL'ite

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    Not sure what you meant by this.

    Purchasing 2 grams or 50 grams depends on what is the end goal of the gold purchase. If you want to purchase gold now and exchange for jewellery later, then it would make sense to buy small weight coins. That way, you can exchange just the right amount of coins for the jewellery.

    If you want to sell the gold after it has reached good price point, then check for the price difference between small weight coins and the bulk weight coins. Take a call depending on the price difference.

    -Lakshmi
     
    Last edited: Dec 7, 2010
  7. satin

    satin Silver IL'ite

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    Purchasing 2 grams or 50 grams depends on what is the end goal of the gold purchase. If you want to purchase gold now and exchange for jewellery later, then it would make sense to buy small weight coins. That way, you can exchange just the right amount of coins for the jewellery.

    If you want to sell the gold after it has reached good price point, then check for the price difference between small weight coins and the bulk weight coins. Take a call depending on the price difference.

    -Lakshmi



    Yeah most probably I will be exchanging it for jewellery after some time,say like 10 yrs..think like you said I need to go and discuss in detail with them so that I can know the price difference and then decide.Thanks for the reply :)
     
  8. mjecintha

    mjecintha New IL'ite

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    I would suggest you to buy from tanish as they wud be certifying you and tht wud be accepted world wide. and do go for a 24C as u mentioned u wud be using it for ur future..

    or else u can just buy a share of gold as tht also is as good as buying a hard gold
     
  9. sukal

    sukal New IL'ite

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    My suggestion would be:
    go for 24t
    to avoid wastage try to go in for max. weight in your budget as gold bars
    bank coins cost much higher, tanishq, i feel is better option.
     
  10. smilealwayss

    smilealwayss Finest Post Winner

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    hello Satin

    Its true that if you buy coins from jewellers like Tanishq and Tata gold plus , those will be certified and can be exchanged with no loss of money for any jewel you wish to buy later on.........
    where as if its from some bank then the purity test of the jewel shop will lead to some amount of loss in terms of purity.
    and yes its standard practice to charge for the making of the coins .. its more for one gram and then less for 4 gm, and lesser for 8 gm........[just for eg if its Rs.75 for 1 gm ,it ll be Rs.[60*4] for 4 gm and it ll be Rs.[50*8] for 8 gm]

    and in ur case if the final intention is making jewels its good u buy the max. weight coin like 8 gm[or more] where by the making charges r less

    happy investing and tc
     

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