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How to handle gold?

Published by Kirke Sööt in category Financial news on 31.01.2008
Gold price (XAU-EUR)
2169,03 EUR/oz
- 33,91 EUR
Silver price (XAG-EUR)
27,58 EUR/oz
- 1,16 EUR

As fine gold coins and bars are extremely soft, they can very easily be damaged. Product’s value is decreased when gold is scratched, bent or the original package has been opened.

Here are some suggestions on how to properly handle gold coins to avoid damage and loss of value.

  • Do not remove coins or bars from their package (plastic capsule, vacuum pack) unless it is absolutely necessary.

  • Always pick up coins and bars only by their edges.

  • Never touch gold anywhere on its surface as fingerprints may reduce the value. Fingerprints cannot be removed from the mirror surface. Be aware that even the finest cloth makes small tiny scratches on the surface of a coin.

  • If you need to touch gold products, it advisable to wear white, clean cloth gloves.

  • Never try to bite gold to test its softness.

  • Try not to let one coin touch another as nicks and scratches can result.

  • Do not drag coins across any surface.

  • When removing coins from a holder is necessary, place them on a clean, soft surface. A velvet pad is an ideal surface. A clean soft cloth or clean piece of blank paper may be sufficient for harder coins (coins with gold proof 900-917).

PS! The above applies mainly to new gold coins and bars. Many historical gold coins have been in circulation and are therefore scratched and nicked. Gold market value has preserved in spite of that.

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