Many folks make gold to keep money inside a “safe market.” Many believe that gold is a good investment in uncertain times.
When you purchase gold, it’s important to set a fairly stringent schedule for delivery of your metal. If this is not possible, make sure you get a written contract outlining when the items will arrive. This should be spelled out in no uncertain terms. Do not complete the order unless you have this in writing.
Research any gold buyer you are considering using and compare them to obtain the best price for your gold.
Check out current market before you ever sell any jewelry. This way you discern whether you’re being offered a fair price when you sell or buy.
If you’ve been thinking about selling your gold to a mail-in company, take the time to read over their fine print before getting involved with them. Find out when you will receive your money, and never send your package without insuring it first. Last, but not least, photograph each item you are sending via mail so that you have recourse if a dispute occurs.
Anything gold can be sold. This could be jewelry pieces which are broken, broken jewelry, and other stuff you have around your house. It also doesn’t have to be 100% gold either. It may simply be gold plated or part of it’s gold. You can still find a good return on the sale of it.
If you’re going to sell scrap gold for cash, shop around.
There are many unexpected places to find gold, including thrift stores and antique shops. Just make sure you know what to look for. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. You can gain from their loss!
Pawn shops and private sellers are only looking to pay the melt value.
Try a site like GoldMoney for buying gold. It is very much like setting up a “gold banking account.” You can open an account, deposit fund and receive the value of your account in gold. The gold physically sits in a bank vault where you’re able to portion it, cash it, or in some circumstances, redeem it for one kilo gold bullion bars.
Look around before buying from a particular gold buyer. The offers you get might surprise you! Going with the very first buyer who comes along might prove a bad deal. Take a bit of extra time upfront so that you have the most cash possible in your pocket.
Know what you have in your possession. Not all pieces that looks like gold are worth its weight in it. Other metals are frequently put together with gold in order to provide strength.This may lower the value. This also applies to pieces that are just plated.
Many times the item will see the item have a stamp. Sometimes, however, there is no visual sign, so the people should have another way to figure these things out. Acid testing is a very simple method, so if the rep does this, they might be new.
Very often earring backs are made from gold even when the earring itself is not. The bands to rings and necklace clasps are often times real as well. They don’t weigh too much so you may want to sell them all together. A larger profit can be obtained this way as many pieces are being sold in one “lot”.
Always read small print on your contracts. You should carefully read the whole contract especially if you’re using a mail-in purchasing service to sell gold. This allows you see how much of your proceeds will be used to pay for commissions and fees.
Many times the backs of earrings are solid gold, even when the actual earring is not solid. Necklace clasps and ring bands are usually real gold too. You can often sell these small pieces together. Selling lightweight gold in quantity increases your profit.
Prior to selling gold, make sure you separate it by karat weight. Some buyers will weigh all your gold at once and offer you what the smallest karat weight is worth. That will result in a lower payout for you. Rather, pre-separate the pieces so you can get the most money you can.
Before doing business with an gold dealer, check the BBB.org website. You can find complaints that you can move forward from there. Pay special attention to whether any complaints and if they were not settled in a satisfactory way. If they have many complaints or lots of unresolved complaints, you may want to go with someone else.
If you understand the gold market, you can profit off it. The tips above have given you the necessary information. Use what you’ve learned here to make the best deals possible.
You cannot rush your investment in gold. You should instead think of it as some kind of a wealth insurance. If you do decide to time your gold purchase, buy when prices have remained steady. When economic times are tough, gold shortages are normal.