The prices of gold may be constantly changing but the trend is always upward. Continue below for excellent advice on how to invest in gold.
Get a value from a few buyers before selling your goal. There are many places to get this done, and some will pay you more than others. Getting estimates from several establishments will help you make sure that you receive a fair price.
Get several opinions about the value of your gold from a handful of dealers at a minimum. There are quite a few stores selling jewelry or that buy it, but prices vary from one professional to the next. Getting estimates from several establishments will help you to understand what you can get for your gold.
Research several gold buyer you are considering using and compare them to obtain the best price for your gold.
Verify the market price before selling your gold jewelry. That way you will be able to ascertain if a dealer is providing you with a fair price or not for your pieces. Though many deals will provide you with its true value, others will try to deceive you so they can get a better deal for themselves.
Think about selling gold via the web. You no longer have to go to a jewelry store to sell your gold. You can find a lot of websites out there to sell gold. The site will send you a prepaid mailer to put the gold pieces in.
Prior to purchasing a gold item from a seller, make sure you schedule for timely delivery. If the person selling you the gold does not deliver the product right away, you need to have some kind of written contract or guarantee when your pieces are arriving. You should be provided with the date of delivery clearly listed. Don’t order without this document.
Anything that is gold can be sold. Examples of saleable items include broken jewelry, spoons, forks, household goods, etc. Solid 24-karat gold isn’t the only type that dealers are interested in, either. You could also sell something that is gold-plated or contains only a small amount of gold. You’ll still get a decent return on your sale.
The cost of gold may put you the idea that gold-filled or gold-plated jewelry is better. You still can still buy gold jewelry without spending a fortune at a store. You are able to get gold cheaply in pawn shops or online.
Get an appraisal to find out the exact value of your gold jewelry. This may cost a small fee, but it is worthwhile. If you continue with your plan to sell, you should know that you will not be paid the full appraisal value.
Always check the daily spot price before you buy gold. Many sites offer this information, plus it changes every day. When you do buy, avoid more than an 8% markup. If you find a dealer asking for more than 8%, they’re overcharging and may not be ethical.
Realize that any piece containing gold have some sort of resale value to dealers. This could be jewelry pieces which are broken, broken jewelry, tableware or any other gold items you have around. It also doesn’t need to be 100% gold either. It just be plated or maybe only a part of it’s gold. You still get some decent money selling these items.
Pawn shops and private sellers may just want to pay the melt value.
When attempting to sell your gold, you want to do your research into the market price. You should shop around to get an idea of what others are offering for similar gold pieces. That way, you will have a good starting point. Ask a bit more than you want so you can negotiate with the buyer or seller.
Make sure you know the spot price of gold the same day you plan to buy it. Many websites contain this information daily. Never pay more than 8 percent markup on the gold prices. Some will attempt to charge even more, but it is a rip-off.
You are probably aware that many currencies used to be backed by gold. What that means is that you need to understand how the price of gold changes and how to leverage the gold market to meet your particular needs. Use what you’ve just learned to find your pot of gold.
A lot of times, earring backs are gold, even when the earrings themselves are not. In many cases ring bands and the clasps of necklaces are real gold too. You can often sell these smaller pieces together to get more money. You will get more money if you put them all together.