Is it worth buying Gold that is a low purity?

[Gary5566]

If I can buy Gold below spot or at spot but it’s 9ct or 14ct is it still worth getting? 
 

I’ve seen 6ct Gold in the US and it seems crazy. 

[TommyTwoShots]

Yes, particularly below spot

[Gary5566]

2 minutes ago, TommyTwoShots said:

Yes, particularly below spot

Ah okay, i’ve just always been curious if I’m making a mistake buying any. 
 

thanks for your reply.

[modofantasma]

Just check that the price is worked out per fine weight 

For example 1 oz of 9ct gold for $1956 is not the same as 1 oz 24ct for the same price.

9ct is 38% I think? So $1956 x 38% would be the spot price $743 

Might seem obvious but I've seen lots advertising 100g of silver coins for what would be spot price for 100g of pure silver when they're actually 50% and therefore advertising at double spot price 

[Gary5566]

2 hours ago, modofantasma said:

Just check that the price is worked out per fine weight 

For example 1 oz of 9ct gold for $1956 is not the same as 1 oz 24ct for the same price.

9ct is 38% I think? So $1956 x 38% would be the spot price $743 

Might seem obvious but I've seen lots advertising 100g of silver coins for what would be spot price for 100g of pure silver when they're actually 50% and therefore advertising at double spot price 

Thank you for the advice. 
 

I’ll keep a look out for the right spot prices then. 
:)

[Dakaras]

Long as the price is right, I always work out what actually the gold content is and pay accordingly, if I like the coin will pay more.

[CySterling]

Complete noob question alert... Would you then refine the jewellery and extract the gold? What's the process / cost involved as I've considered this myself with both gold and silver jewellery. Is it worth it? 

[modofantasma]

2 hours ago, StelliosDriver said:

Complete noob question alert... Would you then refine the jewellery and extract the gold? What's the process / cost involved as I've considered this myself with both gold and silver jewellery. Is it worth it? 

Unlikely you'd refine it. If you sell the scrap gold you'll get about the price of the gold content. If you have refined your own bar without building a brand and reputation you'd get no additional premium for the refined gold even after spending  the time and money on refining. 

There is a chap called Jason on YouTube Mount Baker Mining and metals or something... Mbmmllc if I remember correct. Or another channel I think is 'Sreetips' who talks about the process. 

[SilverStorm]

On 11/04/2022 at 03:26, Gary5566 said:

If I can buy Gold below spot or at spot but it’s 9ct or 14ct is it still worth getting? 
 

I’ve seen 6ct Gold in the US and it seems crazy. 

IMHO, I don't think it's worth it.  The hassle of dealing with non-pure gold, especially when it's time to sell may be problematic.   Before you buy, consider "shopping" around and ask what the non-pure (9ct or 14 ct) gold item would fetch if you were to sell it.  You may be surprised at the lower value.   

The lowest karat gold I personally would buy is 22 karat (or 91.67% pure).  Lots of choices out there, including the beloved Sovereigns.