Gold has been valued by people since the beginning of time. It has been used as money, given as gifts and turned into jewelry to show affection. Gold is a good investment because it is universally treasured. If you are looking to invest in some gold, here are some tips to help you invest wisely.
Only sell to reputable buyers. Look at the Better Business Bureau to gather information about the company to see if their legitimate or not. Reputable buyers offer great customer service along with fair prices. Research helps protect you and your investment.
Have an idea about what you are selling before you sell. Some jewelry is worth more as is than it is melted down. If a buyer tries to offer you the melted down weight value of the gold, they might not be making a fair offer. Know if you have a popular designer or valuable stones before making your sale.
When mailing your gold away for sale, make sure to read all the fine print before sending it in. Some buyers have less than stellar reputations, and you will not see this until you read the fine print. Make sure you are comfortable with all the terms you are agreeing to, or look to another location to sell your gold.
If a deal seems too good to be true, then it probably is. Be leery of people who are selling their gold for way below the going rate. Chances are probably good that it is gold plated or brass. Even if it is stamped, it is always best to have it tested before you buy it.
If you buy gold for your retirement fund, be sure it's the proper kind. This needs to be gold investments that have IRS approval. That means only 24 karat and only coins or bullion. Consider buying bars instead of coins, since they tend to be more valuable.
Research gold buyers. If you decide to send your gold out of state, make sure your package is certified and insured. You will probably feel more confident selling your gold to a reputable local business that has a storefront. Either way, you should check with the Better Business Bureau.
Before selling any of your gold, check to see what the current sales price is. This will help ensure that you are getting the amount of money you deserve. There are many reputable sites available online that will help you on coming up with a fair price for your gold.
A lot of times the backs of the earrings are gold. Sometimes rings are only partially gold, and sometimes necklaces just have gold clasps. Those odd pieces should be sold as one lot, as they weigh so little on their own. This is various gold pieces in one quantity and it can help you earn more money.
Read the terms and conditions of any gold mail-in service. These operations tend to have a lot of fine print, some of which can really work against you if there are any issues down the line. Before choosing this route, read everything you can so that you avoid as many potential pitfalls as possible.
When shopping around for the best deal on your gold jewelry, get any offers in writing. Most companies will give you something in writing, and that offer will usually be valid for a very short period of time. You can use the written offer to negotiate a better deal at your next stop.
Selling your unwanted gold rings, bracelets and chains is an easy way to put some extra money in your pocket. It is also a great way to be kind to our planet. Used gold can be melted down, refined and then reused in beautiful new pieces without the need for mining new gold.
If you're thinking of getting into gold without a lot of cash, you may still have a chance. Just start small. Purchase small jewelry and coins when you have the money. Over time your collection will build up until you have a substantial amount of gold.
Even when you plan to trade on the gold market, you need to start with a demo account. It is important that you test your theories before taking them live. If you end up losing all of your money because you made a mistake in a calculation, you will never forget it.
If your gold piece has precious stones attached, consider getting them removed by a professional prior to selling the gold. Those gems may have a lot of value on their own, so you'll want to take great care of them. And before you do any of this, get the jewelry appraised. It may be worth more just as it is.
Follow the price of gold online before you sell your old gold jewelry. If the price of gold is at an all time low, it would be a smart idea to hold onto your jewelry until the price of gold rises again. The offer you get from a dealer may not be exactly what the online price is, but it will give you a good idea of what to expect.
It is key when dealing with multiple pieces that the karat types are all weighed separately. That will make sure you are given the correct price for the gold. The higher the karat of gold, the more it is worth.
Know that the term "solid gold" is not always technically correct. Gold pieces made with alloys are often called "solid gold". Really any karat level about 10K can have this term attached to it, so don't think you're getting the purest gold out there when the term "solid gold" is thrown about. Ask about the karats.
Hopefully these tips have given you a better idea of how to go about buying gold. Whether you are looking to invest in it to make money or just to collect beautiful pieces of jewelry, gold has lasting value. It usually goes up in value. Keep these tips in mind and start your own collection of gold today.
Orignal From: The Ins And Outs Of Gold Purchasing And Selling
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