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Three Reasons to Keep Gold Around

Posted on December 3rd, 2013 by Goldman Buyer

Gold Buyer Chicago

Gold is one of the most fascinating natural metals on the planet. Aside from diamonds, few other materials have held such intrinsic,and instrumental value to people. Did you know that astronauts’ space helmets actually have a thin layer of gold on the visors to protect them from the glare and heat of sunlight in space? Obviously there is a need for gold in technological applications, and people value it in their jewelry, but is there a reason why one might buy gold online, only to sell it again?

Gold has long had a deep connection to global economies, in part due to its rarity. Around the world, 152,000 metric tons of gold has been mined, and in almost every single country and culture, gold is similarly considered to be of great value. Here are three big reasons why you might buy gold.

To sell during good or bad times.

Because the price of gold is often corollary to the price of crude oil, it tends to sell during weak economic times. You could sell used guitars that you haven’t touched in years, but you will get more money by selling off gold. Gold and diamond buyers keep track of gold prices. If you buy gold online when it is relatively inexpensive, then you can turn around and sell it later, when some extra money would go a long way. As of this writing, an ounce of gold is worth approximately $1,200. This number fluctuates on a daily and a monthly basis, so it is important to have good timing.

To keep in a “bug-out bag.”

The Center for Disease Control recommends keeping cash in a so-called “bug out bag,” which is a backpack or other bag that contains everything you need to survive for a period of time, say 72 hours, in the event of an emergency. Other disaster preparedness groups also recommend keeping additional forms of currency, in case things are very bad and your nation’s form of currency is no longer valid. Since gold holds value across different cultures, it is one of the recommended items that you keep in the event of an emergency. If you look for gold sales online, you might be able to buy gold online at an affordable rate, which will allow you to store that gold away for use at some later date.

To give as gifts.

Approximately 90% of all of the gold that has ever been used was was mined after 1848 and the California gold rush, which was triggered when gold was discovered at Sutter’s Mill. Much of America’s history is tied to gold, and to this day, the United States Mint produces gold coins for sale. Purchasing these coins and gifting them can prove to be a very generous gesture. As time goes by and the value of gold increases, the recipient of that coin will one day be able to cash in on that coin, and by then they may have a lot to thank you for.

Whether you value gold for its beauty, its rarity, or its value, you can buy gold online for any purpose. Some people choose to buy gold only to sell it when its value increases, and others choose to keep it for emergencies, or to gift it. It is believed that the largest reservoir of gold is somewhere below the ocean, but it may never be extracted, since the process of doing so would cost more than the gold is worth. Fortunately, there seems to be just enough gold to go around for now.

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Customer Testimonial

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"I drove all the way from the south side just to sell my silver to Chicago Gold Gallery because of the knowledge and professionalism I received on the phone. They gave me top dollar for my silver and were so fast and friendly. I definitely recommend this business!"

Date: 10/27/2017 • 5 / 5 stars ★★★★★

Can't say enough about this place.

This is the most welcoming, non-pretentious place to do business! I was researching where to sell sterling silver I had and ended up choosing here based on the other great reviews. They walked me through the whole process and answered my questions. I got a great price for my items & will go there again.

Date: 09/17/2018 • 5 / 5 stars ★★★★★

Love this place!

Chrissy & Joe are all super friendly and easy to work with. I trust them and they will do whatever they can to help you including giving you advice on what you have or what you should look for. I won't ever go anywhere else and I've recommended it to several friends.

Date: 08/02/2015 • 5 / 5 stars ★★★★★

I would do business with them again

I had a large collection of silver coins sitting in my safe deposit box for 15+ years. Chrissy was so friendly and helpful she even gave me advice about coins I didn't know. She was more than happy to help me for over an hour in between taking care of other customers. They really did give me top dollar for my coins. Whether you are new or a pro with coins, I can highly recommend you take them here!

Date: 02/22/2020 • 5 / 5 stars ★★★★★

Don't Hesitate to call...

I find that Joe at Chicago Gold Gallery consistently offers and pays more for my coins than coin dealers in Chicagoland. He's very nice and easy to deal with. Don't hesitate to call him and preferably visit him.

Date: 12/04/2015 • 5 / 5 stars ★★★★★

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