BORDERLAND JEWELRY
We buy and sell gold and silver!!
Yes, it’s true; we buy and sell gold and silver bullion!!
The information in this document is for educational purposes only and is not to be taken as investment advice. No guarantees are made as to the information provided as situations can change from day to day. Every investor should do their own due-diligence to determine which investments are best for them.
HOW DOES THIS WORK?
You come in to Borderland Jewelry; you tell Rob or one of our associates how many ounces you would like to buy OR how much you would like to spend. We will tell you how many ounces you can purchase for that amount. If it is a small amount, we are likely to have it on hand; if it is a large purchase, we may have to lock in your price and order it on the spot. It is important to know your dealer. Rob is a trusted member of this community.
WHY INVEST IN BULLION?
Investors buy bullion for one of three reasons according to Warren Buffett: investment, inflation hedge or for survival puposes. Fear of a financial meltdown, uncontrolled inflation or concern for the kind of currency that would be used to barter for goods and services drives some people to buy bullion. Bullion’s purity is largely irrelevant among gold and silver dealers. Coins and bars are bought and sold based on their weight, not their purity. Unless you are going to melt the coins down, it’s just not an issue and doesn’t affect the price. Investing in bullion is just one more portfolio diversification strategy recommended by many investors.
1. What is bullion? Gold bars, silver bars, other precious metals bars or ingots. The word bullion comes from the old French word bouillon, which meant “boiling” and was the term for a mint or melting house. Bullion refers to precious metals in bulk form, which are regularly traded on commodity markets. The value of bullion is typically determined by the value of its precious metals content, which is defined by its purity and mass.
• Pre-1965 coins (quarters, dimes, and half-dollars) are 90% silver. This does not include silver dollars.
• Silver rounds are one ounce of 99.9% pure silver (or .999 fine) minted in the United States. They are made by various private refineries and are not just round “blanks” of silver. They all have varying pictures from the companies that use different designs.
• Gold American Eagles minted in the United States
• Gold coins such as Austrian 100 Coronaes and Mexican 50 Pesos may be a smaller percentage of gold, however, the 22 karat South African Krugerrand gold coin contains exactly one troy ounce of fine (pure) gold. There are American Eagles, Maple Leaves, Philharmonics are modern issues.
2. What do you pay to buy one ounce of silver?
You would be charged the spot price, or what the market is for that exact moment, plus a premium to the dealer for handling. This price fluctuates by the moment.
3. What is Spot Price? Who determines that? Spot Price is the current price at which a particular security can be bought or sold at a specified time and place. This is different from securities futures where a price is based on the expected value of the security. The price is determined by the marketplace, how many are for sale and how many are being purchased on the national and world market.
4. What about taxes? There will be sales tax charged on your purchase. Everything is exempt from reporting when you buy gold and silver, unless you pay more than $10,000 in cash. Even then it’s not your gold or silver purchase that must be reported, only the cash transaction.
5. What if I want to sell my bullion? Bring it in to Borderland Jewelry. We will check the Spot Price and make you an offer based on the market.
**Information gathered on 2-4-15 from websites: CMI, GoldSilver.com, goldline.com, themoneychanger.com and wikipedia, google images.
