Is Precious Metals a Good Career Path in 2023?

Precious Metal is a good career path for anyone who is creative and has a passion for discovering, recreating, and selling precious metals. If you are someone who wants to be in the Jewelry space, then precious metals is a good career path you can pursue.

Precious Metal is a skill that requires consistent recreation and is highly patronized globally.

What are precious metals? Is precious metal a good investment? What are the jobs available in Precious metals? is precious metals a good career path?

These and more are questions we will answer in this article.

What are Precious Metals?

Precious metals are also known as precious stones because they are metallic chemical stones gotten from the ground that are rare, valuable, and luxurious. Precious metals are obtained from extracting these precious natural Stones from the soil, melting them to form luxuries such as gold, silver, diamonds, platinum, etc. They are mostly used for decoration and jewelry.

Precious metals are expensive because they are rare and invaluable. Precious metals such as gold, sober, and diamond are used for adornment and beautifications.

You may wonder if Precious Metals is a good investment.

Let’s discuss that.

Is Precious Metals a good investment?

Precious Metals known as coinage such as gold, silver, and diamond are valuable metals that are expensive and luxurious. They are used for industrial creations and aesthetics. They are also a good investment because of their increase over the years.

From old times precious metals have commanded value and were used as money. 

Other precious metals such as Platinum, rhodium brimstone, etc are among the most expensive in the world.

Precious Metals are a good investment because they are tangible and don’t lose their value over the years. It can be stored in a physical store where you can feel and touch them, unlike digital assets. They are easy to carry and easy to sell.

Precious Metals are rare and cannot be destroyed. They can last forever when kept in a good location where they can’t be stolen or scratched. If scratched, they can be reused and recreated to form another shape or size.

One of the precious metals that have over time been traded as a commodity and have increasing value is gold. Gold is not affected by forces of inflation, this makes gold a good investment as the prices go over Time, wealthy and powerful elites in the society buy precious metals as a symbol of wealth and in the form of Jewelries, designs, properties,  some may even keep gold as an inheritance for their kids in the future.  You can sell gold to them at a  price.

If you want to spread your investment into physical properties, precious metals are a good choice as it is a store of value, command influence, and a hedge against inflation. It is safe as you are totally in control of your investment.

Pros and Cons of Investing in Precious Metals

Investing in precious metals is a wise decision and is safer than digital assets such as crypto which is highly volatile and can be hacked but this doesn’t excuse the fact that there are pros and cons of investing in Precious metals.

The following are the pros and cons of precious metals.

Pros

• The fact is that the value of precious metals doesn’t decrease in times of inflation. Unlike other assets that are volatile and can lose value because of inflation, precious metals can stand the test of time and it is a hedge against inflation.
• Precious metals are in high demand because humans cannot get enough of them and their industrial usage makes it wise to invest in precious metals.
• Precious metals cannot be destroyed and their source can not dry out because it is produced by nature. It is tangible and doesn’t take up space, you can simply save them in a simple box.

Cons

• Precious metals are expensive to purchase and even a small quantity requires tons of money, that’s why investing in precious metals can be difficult.
• Trading precious metals attract high taxes and can be expensive to store. It is also prone to theft if not safely kept.
• Holding precious metals can bring about anxiety as they can be stolen. If you are keeping precious metals in your house, you need extra protection from eft not advisable to make it known.

Is Precious Metals a Good Career path?

As we have seen the pros and cons of precious metals, you may wonder if precious metals are a good career path, well yes!

A career in precious metals is rewarding as you will be dealing with expensive and high-demand commodities. You can get precious metals business. 

How many Jobs are in Precious Metals?

Precious metals offer a variety of skills and careers available that you can tap in, you can become a goldsmith, miner, jewelry creator, or seller, You can also be a broker and a marketer. You can also be a dealer in precious metals for industrial use.

Let us discuss high-paying jobs in precious metals.

Top 10 High-paying Jobs in Precious Metals

The following are the top 10 jobs in precious metals that you can choose from:

Brokers

Brokers in the precious metals Industry are a middle man between buyers and sellers. They trade on behalf of investors, firms, and individuals such as forex brokers, and they are paid for their services.  Brokers must get a valid license from the government before they can become one.

The brokers can also invest and trade their precious metals and get profits. They can be a private individual or a firm.

Becoming a precious metal broker is highly rewarded for its services.

Precious Metal Miners

There are workers in precious stone mining factories that control the mining and manufacturing of precious metals. They are quite different from the laborers because they have the tools, and strategies and they monitor the activities of the laborers in the mining process.

Goldsmith

The Goldsmith is a craftsman who creatively forms jewelry spoons, knives, tables, chairs, etc from precious metals. 

They are highly needed in the industry because they make precious metals useful for individuals and they are well paid. Their salary is estimated to be $40,000 and above annually.

Precious Metals Marketers

They deploy Marketing strategies to create awareness of precious metals for firms and individuals to attract buyers and investors.

They must be well informed in the Precious metal industry and know mediums to adopt to create sales.

They are well paid for their services and sometimes get commissions.

Machine operators

The precious metals machine operators work in the factory during the production stage. They are skilled in handling technical machines and their services aid the production process. They are highly paid for their services.

Material managers

The material managers control, manage and plan all materials used for the production of precious metals for use. They also give precise measurements of materials for production. 

They are well paid in the industry.

Gemologists

These are professionals who study precious stones and discover if they are real or fake. They also ascertain the number of precious metals in a spot and help it be different from other stones.

These are highly skilled and are well paid.

Special Jewelry designers

These are contracted to engrave special designs on Jewelries produced from precious stones according to customers’ orders or for general sales.

That jewelry with special encryption and patterns is designed by Jewelry designers and they are well paid for.

Lapidary

These are those who cut, polish, and design precious metals into various forms, they are called lapidaries and they are highly paid.

Precious Metal sellers

These are sellers who sell precious metals in the form of earrings, rings, wristwatches, and bands. They make great sales and profit from the business.

FAQs

The following are frequently asked questions and answers that you need to know.

Are Precious Metals Worth it?

Yes, they are worth it! Precious Metals are valuable and worth investing in. It is also a good career path.

What is the highest-paying Precious Metal?

Rhodium is regarded as the most expensive precious metal on earth. It is a silver-white precious stone that is rare and most valuable.

What are the jobs in precious metals?

We have discussed various jobs you can do in the precious metals Industry. You can be a miner, broker, seller, machine handler, lapidarist, gemologist, etc. You can start a career in any of the top discussed in this article.

Do Precious Metals Provide Income?

Yes! Precious Metals Provide income. They are valuable, expensive, and profitable

Conclusion

So, if You are among those asking questions like – Is Precious metals a good career path in 2022 , I believe this guide has been able to help you answer that on your own

Precious Metals are valuable stones that are used for both personal and Industrial activities. It is good as an investment and a good career path. 

We have discussed facts on precious metals and their value in this article and have also highlighted various jobs you can choose from in the industry.

If you are interested in making a career out of precious stones, then this article is a good read for you.

We hope you enjoyed reading this article.