For thousands of years, gold has been used as currency and a store of wealth. Some choose to invest in gold coins and bars, while others are storing wealth in 24k gold jewelry.
The old saying, “If you don’t hold you, you don’t own it,” certainly applies to precious metals and wealth. Accumulating precious metals is an excellent way to store wealth and assure financial stability.
However, gold coins and bars can be subject to certain restrictions as monetary instruments while traveling or moving internationally. Customs and border agents receive training in identifying gold coins and bars as a way of concealing wealth. Typically, gold jewelry can be worn or packed in a carry-on bag and goes largely unnoticed.
Ordinary gold jewelry is often an alloy of gold and other metals with a high retail markup, making it ineffective as a store of wealth. However, there is a growing trend with 24-karat gold jewelry, which you can buy at a relatively low premium. Because it’s pure gold, 24-karat gold jewelry holds its value relative to the gold spot price.
Difference Between 24K (Pure Gold) and 18/14K Gold
Measuring gold purity is done in karats. Pure gold is 24 karats, meaning that all 24 of the 24 parts of the metal are pure gold (99.9% pure gold). No higher form of gold than 24K can be called pure gold. Pure gold will not tarnish or decay without traces of other metals, keeping its luster forever. Therefore, 24K gold can be called “Eternal Gold.”
18 K gold is 75 percent mixed or alloyed with other metals such as silver or copper. 14K gold contains 58% gold alloyed with 42% silver or copper. 10K is 42% gold mixed with 58% of other metals.
24k Gold Jewelry is Wearable Wealth
Using 24k gold jewelry as a store of wealth offers distinct benefits compared to traditional precious metal investments like coins and bars. While there are some trade-offs, the added utility makes it a compelling option for preserving wealth.
High-purity gold jewelry can be easily transported without the visibility or documentation often required for coins or bars. Jewelry discreetly allows individuals to carry substantial wealth, particularly in regions where privacy is valued or access to traditional banking systems is limited.
In many cultures, gold jewelry is a traditional and socially acceptable way to accumulate and display wealth.
Some investors see jewelry as a discreet and personal way to store wealth that bypasses certain regulatory or seizure risks. Gold jewelry is less likely to be targeted during government-led gold confiscation initiatives, as seen in historical cases like the U.S. Executive Order 6102 in 193
Gold jewelry is widely recognized and easily liquidated. Pawnshops, jewelers, and private buyers readily accept it, providing flexibility for individuals who may need to convert gold into cash quickly.
While it’s unlikely to occur again, the thought of possible gold confiscation by the Federal government has a historical basis and could happen again during trying economic times.
Some items, such as numismatic coins and jewelry, were exempted from the ban on gold ownership.
Traveling with 24k Gold Jewelry
To travel with more than $10,000 in cash, you must legally declare it beforehand. If correctly declared, carrying large amounts of money when traveling is not illegal. However, carrying large amounts of cash does open you up to unnecessary scrutiny by customs and TSA officials, who may become suspicious, which could lead to a seizure.
Wearable wealth in the form of 24k gold jewelry is relatively easy to conceal while traveling. Numerous options exist, such as fashionable bracelets that contain one troy ounce of pure gold. These 24-karat gold bracelets can be bought for a small premium over the gold spot price.
The premium is similar to those on government-issued bullion coins like the American Gold Eagle or Canadian Gold Maple Leaf, which makes them an excellent investment alternative to traditional coins.
Besides gold bracelets, some online bullion dealers have begun to carry 24k gold necklaces, rings, and other items that can go unnoticed while traveling. Some dealers also carry accessory items, such as buttons that can easily be sewn onto shirts or scarf rings that are simple to wear.
Storing wealth in 24k gold jewelry will make traveling and transporting some of your assets simpler and more manageable, and it can always be accessed in times of need.
And since it’s gold, it can also be an insurance policy while traveling if you need money. It can be sold faster and at a better price than costume jewelry.