Keeping some gold around the house, or even at the office, in case of a sudden need for cash is once again growing in popularity. The metal can increase in value, allowing you to invest some cash now for potentially more cash when you're in a tight spot, as long as you're able to get to a gold buyer to sell the gold. Coins, chains, and even small bars are common forms, but the industrial world has another type of gold to consider: casting grains. These are small pellets of gold that companies mix with alloys to create customized metals. Whether you would benefit from getting some of these is something to consider.
Specify Your Karats
First, you have to understand that just as you can get gold coins and chains in varying levels of purity, so too can you get casting grains in varying levels, everything from 10 karats to 24 karats. It's essential that you know exactly what you're getting and that the seller is reputable.
Remember the Price of Gold
One of the advantages of buying gold coins and jewelry is that you can customize the sizes or the amounts to some extent. If you don't have a lot of cash to make your initial purchases, you can buy a small 1/4-ounce coin, or get a couple of thin chains. With casting grains, you often have to buy by the troy ounce, or ozt. This means you'll pay whatever the going rate of gold per troy ounce is at the time of purchase. Gold has been hanging out at over $1,200 per regular ounce (not troy ounce) as of mid-January 2019, and the seller will want to make a profit. So, you'd have to fork out a substantial amount of cash unless you could find a seller willing to break up those troy ounces into smaller amounts.
And that's another thing—you would need to be sure of the weight you were getting. Troy ounces weigh a bit more than regular ounces, and that means the price you pay may look nothing like what you see on gold price boards.
Customized Scrap Selling
The advantage to buying casting grains is two-fold. One, when you want to sell some, the grains are so small that you can bring in just the right amount that you want to sell. Two, casting grains are much easier to store because you can break the bunch up into smaller stashes, if you want multiple hiding places as a security measure.
Most places that sell gold casting grains will also sell silver casting grains, which cost less because the price of silver is normally much lower than that of gold. Whatever you choose, though, be sure the seller is willing to sell to non-industrial people. Companies may have policies against selling casting grains made for the industry to private parties for investment purposes, so double-check that you can buy the grains on your own.
For more information or to check out some gold you can buy, look into businesses like Cmi Gold And Silver Inc.