Gold has been valued for thousands of years. If you are in the market to buy gold, continue reading to gain insider’s knowledge to the gold investment market.
Bullion bars are an excellent gold investment. Their weights can vary. The bullion bars come in half ounce bars and increase up to large bars weighing 400 ounces. If you want a 400 ounce bar, you may have a hard time finding one.
Gold prices fluctuate on a regular basis, so you must stay apprised on the values of your items. If you decide to sell your gold, know that various karat values are going to need to be weighed separately. Avoid selling any jewelry that’s worth more because of the designer.
If you plan to sell jewelry through mail-in companies, check them out before doing business with them. Find out when you can expect your payment, and never send your package without insuring it first.
Before buying or selling gold, be sure you are aware of how metals are priced. With silver, platinum and gold the prices vary wildly throughout the day, and in order to get the correct price you must spot check it on the day before making a purchase. Watching the market can help you to buy or sell your gold at a great price.
Pawn shops and many private sellers may just want to pay the melt value.
Check spot prices of golds the day you buy. This information is available on several different websites. Never pay any more than 8 percent markup on the gold prices. Some will attempt to charge even more, but it is a rip-off.
If you are thinking about selling some of your gold jewelry, know what the going market price for gold is. This can help you discern whether you’re being offered a good price or not. A lot of dealers provide you with market value, but there are some who will just assume you want quick cash and will make a deal that is best for them.
Don’t rule out getting gold in vintage or antique shops. You can find great bargains in these places. You can benefit from the seller’s loss if you do your homework first.
Do your research before you sell. You should see if you can figure out what other pieces like yours for as well. This will give you a fair market value starting price level to utilize.
Make sure that you understand the terms when sending jewelry back through the mail. Find out when you will receive your money, and never send your package without insuring it first. As a last step, take a photograph of the package’s contents before you send it off to avoid disputes.
Shop around before you decide which gold buyer. You might be amazed by the variety of offers. Going with the very first buyer who comes along might not be a bad deal. Take a bit more time at first so you’ve got the maximum return on your gold investment.
Use a magnet to determine if an item is really made of gold. Precious metals do not going to be attracted to a magnet. Sometimes only the clasp is solid gold clasp. This is a good way to test it this way.
Get an appraisal if you do not know the value of your gold jewelry. This adds an up-front cost, but it could save you a lot of money later. Make sure you go to an accredited and reliable appraiser to get valid appraisal papers. If you decide to sell, be aware that it’s not likely for you to get full retail value of your item.
Many pieces of jewelry will see the item have a stamp. However, if there are no visual indications, so the reps have ways to determine it. If you see the gold buyer performing an acid test, it’s an indication they are a newer business.
Read each form thoroughly when you are going through a gold dealer. This is not a large money making endeavor with lots of business; there is big money involved. You need to know precisely what you’re signing. If you’re not comfortable with any terms, get ready to move on. It will pay off to know you have that extra protection.
Don’t sell to entities that are not licensed by the state to buy gold. There’s always a risk of getting ripped off, but a buyer who is licensed poses far less risk of this occurring. There are a lot of stores and individuals that will buy gold, so don’t feel like you have to sell to the first person you come across.
Gold is measured in karats. The higher the karats, the higher the karats and the more valuable it is by the ounce. You cannot just go by the carat stamp.You won’t pay too much for poor quality when you know how to do gold purity.
A good way to get a good value out of gold is to ask your relatives have broken jewelry. If you can buy it from them at below melt value, you can offer friends and family a higher price than what they would receive at a pawnshop.
Don’t let others know you invest in physical gold. Someone around you could be listening in and be untrustworthy. Keep your investment private and secured, preferably in a safe. This protects you as well as your gold.
If you like to invest in gold for its value and its beauty, think about pure gold. You can use your gold jewelry as an investment or a fashion accessory.
As this article has shown you, gold is a great thing to own and to invest in as well. It makes sense to invest in gold because it retains its value and increases in value as time goes on. After reading the aforementioned tips, you can begin investing in the world of gold trading.
You may even be able to find old gold at thrift shops or garage sales. A smart and educated gold shopper can make some great finds. Lots of folks donate items or sell them in such venues simply because they lack knowledge of their true value. If you are smart, you can make a great profit.