The idea of buying and selling gold has become very popular, given the safety and hedge it gives against economic turmoil. Keep reading to glean a few insights about how gold can be made to work out well for you.
Always use a reputable company when selling gold. Use resources like the Better Business Bureau and customer reviews. When you choose the right buyer, you will have a great transaction. Don’t let yourself be taken advantage of.
Gold fluctuates a lot, so you must stay apprised on the values of your items. If you are selling gold, those with differing karat designations ought to be weighed on their own. Don’t sell jewelry that may be worth more than its melt value because of its designer piece.
Precious Metals
Know the current price per ounce of gold before selling your pieces. Doing so will help you figure out if a dealer’s offer is a good one or not. Most dealers will make you a fair offer, but some will try and rip you off.
Do not dabble in the gold market until you know how pricing on precious metals. The prices of precious metals fluctuates daily, so be certain you know the spot price before any transaction. You should be ready to pay a higher percentage for fractional pieces like half ounces and quarter ounces over the melt values if you’re buying less than one ounce pieces.
Think about using the internet. You don’t need a physical location to sell gold. There are dozens of reputable websites out there you can use to sell all your gold. The site will send you a kit in which you’ll return the gold items.
Selling gold depends on what sort of piece it is, be it a coin, bar or piece of jewelry. You will only get melt value at pawn shops or with most private buyers. Don’t let this discourage you, because you will eventually find the buyer you are looking for.
Before buying from a gold seller, make sure you have a firm delivery commitment from the seller. If your seller doesn’t offer delivery immediately, you have to get a written confirmation on when the expected delivery date is. The expected date of arrival should be something you can see listed. Do not complete your order until you receive written confirmation.
Get an appraisal if you have no idea what value your jewelry. This will cost a little money up front, but it is worthwhile. If you choose to sell your piece, you’re not going to get the appraisal value.
You may even be able to find old gold at thrift shops or garage sales. If you have a discerning eye, you can locate great pieces. Lots of people sell their items here for low prices, because they are not aware of the value. Their lack of knowledge can be used to your benefit, if you know what to look for.
Anything that contains gold can be sold to a good dealer. It could be a broken jewelry item, gold table ware, home decor items or anything that is in the house. It doesn’t have to be 100% pure gold. It may simply be gold plated or a bit of gold within it. You can still stand to make a fair amount of it.
If you are sending your jewelry off in the mail, make sure you understand any return postage fees you’ll need to pay if you decline their offer. Be certain you know exactly what those fees will cost to get back your jewelry.
Talk to multiple vendors before making a decision about which buyer you’ll go with. You might get surprisingly different offers that reward your patience. Shaking hands with a buyer who brings you the first offer may actually shortchange you. Instead, do your research and get the most for your gold.
Many individuals get energized by the notion of making money in gold. In many cases, however, they don’t know what they are doing, so they don’t make money or even lose it. The above article will help those wanting knowledge on the gold market.