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That's GOLD! - Part 1

*Last updated on 15/8/2017

It has been a while since I want to post about this. LOL! Bear with me people!~ 😁

It is interesting how Allah has mentioned in many parts of the Quran about gold among others as a type of reward later in the Heaven. For example, in Surah Al-Hajj verse 23;
Allah will admit those who believe and work righteous deeds, to Gardens beneath which rivers flow: they shall be adorned therein with bracelets of gold and pearls; and their garments there will be of silk.”
I can totally relate to this reward since I really fancy these shiny metal – the 79th element of the periodic table! Imagine what gold is like in the Heaven. Yang kat dunia punya pun dah cantik! πŸ˜‹Hehehe.. And because of that, I have been every now and then (only when there is a little extra), purchase a small-small one.



Along the way, I began to collect some data.

What types of gold available?
In Malaysia, retail jewellery is usually made from emas 999 (24K), 916 (22K), and 750 (18K).  24K gold is also known as emas sepuluh while the famous 916 gold stamp (since it reads the same even when it’s upside down) is sometime called as emas Singapore

The K (carat) measure the purity (or fineness) of gold. The higher the carat, the more pure gold it carries. Because Aurum or gold is a soft metal, it needs to be alloyed with other metal to make it stronger, shinier or vice versa (like the Indian jewellery collection) as well as to have different colour tone.
  

With the many types, which is better?
It really depends on you. In previous years, many preferred the 916 since it has better design and the gold purity is midway between 22K and 18K. However, with the new technology in the jewellery industry, 24K gold has now presented itself into many eye catching designs. Trust me on this! πŸ˜ƒ I remember going into one of the stores years back and the assistant was so eager to show us their first 24K jewellery design collection. Cantik jugak la.. but pricier.

The white gold for example, although it is only 14K, people still go for it because diamond looks better with white gold. It is important to note that white gold is not the same as the plated white gold (we normally called it chrome) on 916 jewellery designs. White gold is usually more expensive because the Rhodium metal that is combined with gold to give its white tone is expensive. Unlike chrome, white gold does not fade its white tone with time.

The 750 or 18K gold on the other hand, is normally for designs with stones because they are tougher. Hihi.. This type of gold jewellery besides the 14K gold, is the normal standard used in many English spoken countries such as the UK and Australia. The reason for this is generally because they prefer the colour tone against their fair skin. Therefore, should you are running low in cash while shopping in those country, you can bring your 18K gold to any of the cash converters and are more likely to get a faster good return. 😊

Which jewellery store should I choose?
The answer to this question is again very much subjective. Recently, there are more new names for jewellery stores. To answer this question, I am breaking the gold stores into two categories; 1) the “established” and 2) “non-established”. The established gold stores are simply jewellery stores that have franchisee all around Malaysia.

The main reason to go for the household names in this industry or the established gold store is of course no other than because it is a TRUSTED brand name. Since they have reputation to hold, you can be 99.99% sure that the gold jewellery selling at their store is as what they claimed.

My mother-in-law once shared her friends’ experience re-selling a gold chain which she bought from a non-established gold store that turned out NOT to be a 916 gold as claimed. Yikes! I know. In other words, there are risks to purchase at the non-established gold stores especially if they have no gold stamp on the item. Keeping receipts in this case is very important since you can always get back to them when this kind of issue arises.

Besides that, in most cases, established gold stores usually have their own customized designs. So if you go for latest and exclusive design, then choose the established gold store. Of course if you don’t mind waiting, you might find some of these exclusive designs at the non-established gold stores several years later. But not all designs.. πŸ˜† Having said that, I knew of one particular non-established gold stores which personalises in Indian jewellery which of course have wide range of exclusive designs too. 

The gold price at these established stores however are fixed. Which means, haggling won’t be entertained at these stores. Apparently, they are under a gold persatuan in Malaysia that controls the selling price. Therefore, if you found a design that you like at a non-established store which you can also find it at the established gold store (like this year items in H@bib Raya collection brochure), then go to the non-established and get your best bargain.

From time to time, the established stores do give discounted price on selected items but non-established gold stores usually can offer you lower price especially if you are a regular. 😎

Another point to note is that, buying at established stores means that you can visit any of its franchise (as long as you bring along the receipts) should your jewellery need a clean or fixing.. since they are almost everywhere (to haunt ladies out there! LOL! πŸ˜‚) 


Should I buy gold online?
I can break normal online gold transactions into two:
  1. Non-established gold store providing postage services
  2. Individual selling gold online providing postage services  

The main advantage to buy online is like buying any other goods online - the items come to you like presents!! Getting parcels is always a good feeling. Hihi.. Buying online also means you get to lock items at lower price. 

Having said that, it is very much AT YOUR OWN RISK! πŸ˜… 

Usually when buying online, sellers seldom enough, repeat themselves that buyers are about to make a transaction at their own risk. Imagine, putting forward your own hard earned money first and hoping they would send you the item.. the correct genuine item. And when they actually do send the correct genuine item, there is still the risk of the item got lost during postage. Kann~ But then again, some do explain the situation at great length. Lee W@h gold store from Kuala Pilah for example, has a four-page long agreement letter. Very professional! πŸ’ͺ

Remember I told you about chrome fading its colour.. Usually gold store has a free service to its customer either for fixing or to re-chrome (another reason to keep your receipt). This also means, if you really really really want to buy gold online, go for option 1. To this date, I do not see any individual online seller providing these two services. One additional plus (which I never explore) is, some store allows you to pay monthly at zero interest. As a muslim, one need to remember though, that this method of puchase when it comes to gold is only be OK for jewellery and not gold coins/bullion. πŸ˜‰

Buying online also has the risk of you ended up not liking the items you purchased. Yup.. another classic problem of buying any items online. Lagi-lagi if beli baju ke.. tudung ke... sigh~~ 

I personally have tried both options of this online gold transactions. Alhamdulillah both items reached me safely. Are the items as shown in picture? – Yes. Am I happy with the items? - Yes. Is it risky? – Yes. How do I select individual seller? – I RISK going for trusted seller which has a lot of followers and reviewers. Would I promote others to buy this kind of online transaction? – Honest answer is NO!  

There is however, another kind of online purchase that I might say ‘yes’ to. It is the public gold Aurora Collection. Oh yes, if you feel like buying Aurora Collection after reading this, please quote my name Amelia Wong Azman (PG00098139) as the introducer! Hehehe..

To get the record straight, the reason as to why I say ‘yes’ is ONLY because the risk of losing your item during postage is null. With public gold, you lock the price, order and later claim the items at the public gold store. The drawbacks with public gold collection (at the moment) however, are limited design and selling only 18K gold if you are a hardcore 916 user.

Why do I even bother to know all about this?
LOL! For one.. buying gold is a good investment. You may choose either gold coin/bullion or jewellery. For Muslims, it is worth noting that once your gold bullion which is made out of pure gold reaches 85g, you need to pay zakat on it. As for gold jewellery, it depends on states jurisdiction. For Muslims in Wilayah Persekutuan, further info on this can be found at MAIWP

Another good reason is.. if you are a husband, trust me, buying jewellery for your wife is the best gift you can surprise her with! 

Don’t worry if you are a first timer. I will post up a post on tips to purchase in-store gold in the near future. Hihihi

Till then!~ 😍


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