Gold investing is very popular among investors. Many people trust this precious metal to be a good hedge against inflation. Gold has made some investors very rich because they made the right market decisions at the right time. If you want to find out what gold investing is all about, read the following article for some helpful tips.
Do not expect too much from a gold party. While you will make some money by attending, they are more about having fun with friends or family. Expect to reap about 80 percent of the actual value of your gold. If you are looking to get more than that, consider dealing with a jeweler or other gold dealer.
Before you buy gold from a dealer, get a guaranteed delivery date. When the seller doesn't ship immediately, you must get their promise to ship in writing. A date should be spelled on this piece of paper. Only complete the order if given this documentation.
Avoid gold coins that are being sold at flea markets and local pawn shops. They may seem like a great deal, but all that glitters is not gold. The coins may be counterfeit and/or they may have been cleaned to make them appear far more valuable than they actually are.
Before you go shopping for gold jewelry, be sure you know which particular color you would like to purchase. Yellow gold tends to be the most popular, gold is also found in other colors, like white, rose, and even green. Knowing this information will help you narrow down your choice.
Look at the World Gold Counsel website before buying from an online dealer. This site lists reputable dealers who you can trust working with. Buying from someone else could result in you being scammed, because there are many dishonest gold dealers out there. Do your homework first to make sure you remain protected.
Keep in mind that buying rare gold coins takes a lot of research, expertise, time, and dedication. Some coins tend to look alike, but they may have very different grades. Minor differences like these can lead to an additional thousands of dollars. Try hiring a type of professional grading service to obtain a certificate of authenticity when buying rare coins. These services judge the physical condition and provide it with a grade.
Understand how gold much gold is in each ounce. For example, 18 carat gold contains more gold than 14 carat. This is because in 18 carat gold there is 18 parts gold and 10 parts other alloys. In 14 carat gold, there is 14 parts gold and 10 parts other alloys. For this reason, 18 carat gold sells for more than 14 carat gold.
Try saving on gold by buying some at regular intervals. It doesn't even matter what the current gold price is. Every month or every regular period, try to buy some gold. Its price may be higher one month and lower the next, but that doesn't matter. The consistency is what matters since its value will eventually even out and rise later on due to gold's value going against the value of currency.
Be very wary of anyone that claims to be able to offer you rare and valuable coins at dropdown prices. The reality is that no one is going to give you something for nothing. The coins you are being offered are probably not as valuable as they are making them out to be.
Do NOT sell your scrap gold or gold jewelery to a company wanting to do so through the mail. These types of operations pay less than pennies on the dollar and you will have no recourse once you receive your measly check from them. Visit a dealer in person, get a real evaluation and try to sell it to them.
If you're selling gold jewelry, make sure you know about karats. Pure gold is very soft, so it's mixed with other metals for color and durability. The FTC or Federal Trade Commission requires that all sold U.S. gold jewelry must describe the alloy's karat fineness. A single karat equals 1/24 of pure gold via weight. For instance, 14 karats jewelry is 14 parts gold and 10 parts different metals. Jewelry can't be sold as "gold jewelry" if it's less than 10 karats.
The gold value of a piece of jewelry will never be equal to the amount you paid for it. That is because the gold is not pure and is diluted by alloys. The jewelry will need to be melted down to separate the gold from whatever other material it was mixed with.
Even if your earrings are not real gold, the backs may be. Sometimes rings are only partially gold, and sometimes necklaces just have gold clasps. Attempt to sell pieces such as these as a "lot" since those pieces are fairly lightweight. You may be able to sell them for more as a bunch.
If you have a piece of gold jewelry that has some history to it, or has been in your family for as long as you can remember have it looked at. The melt value might be really low, but there could be someone out there willing to pay a higher price for the intact piece of jewelry.
You should know ahead of time that you won't get the full value of your gold. Just like any other business, gold dealers are in it to profit. Try to get the best deal you can while still making the price attractive to the buyer. Offers of 50% to 70% of the actual value are commonplace.
Separate all of your jewelry according to the karat that it is. By doing this, you are more likely to ascertain the true overall value. This is pertinent because two pieces of varying karats but identical weights will have completely different values.
Learning how to be a smart investor in gold is not hard. However, it does take full understanding of the market in order to make this profitable for you. Good investing techniques take practice and experience. Use what you have learned in this article to give yourself a good start in your gold investment.
Orignal From: Seeking Knowledge About Gold? You Need To Read This Article!
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