Gold has become more and more popular as the uncertain financial times that have been faced by investors of late. Many people are going with gold for safeguarding wealth, but doing so successfully requires a certain level of knowledge. This article contains information that will help anyone and everyone learn how to get more value from their investment.
Go with a reputable gold vendor when selling. Their reputation can be verified though online sources, as well as the BBB. A legit buyer will offer a fair amount for the gold you have. This will protect you from rip off artists.
Delivery Date
Before you buy gold from gold sellers, get a guaranteed delivery date. If your seller doesn’t give you an immediate deliver, get the delivery date in writing.The date they expect you to get them should be provided. Do not finalize your order without this important information.
Always research a company you want to send gold jewelry to. Understand when you will be paid and how you can insure the mailer. Take a snapshot of everything that you send in the mail for security.
The IRS has to approve the gold that you receive. Bars typically are often a better deal than the coins.
Realize that all items containing gold is marketable. This could be jewelry pieces which are broken, broken jewelry, tableware or any other gold items you have around. It doesn’t have to be 100% pure gold. It could be gold plated or a bit of it’s gold. You can still find a fair amount of money selling it.
Make sure you know the spot price of gold the day you plan to buy or sell. A number of websites feature this information, and it changes daily. When you actually go to buy, do not pay more than an eight percent markup over this price. Knowing the value of your gold will keep you from getting ripped off.
Don’t discount the value of looking for gold items from thrift stores or antique shops. You can find great bargains in these places.You can reap the benefits of their loss if you research a bit.
Many pieces of jewelry will see the item have a stamp. However, there are some times when there aren’t visible signs, there are other ways to determine purity. Acid testing is a very simple method, so if the rep does this, they might be new.
Talk to a gold representative to learn how they test gold for purity. The item is stamped, a lot of times. However, at other times, there is no stamp, so a lot of reps use other ways to find out. A representative using acid tests is a sign of a less-experienced gold agent, as this kind of test is not one of the more surefire methods for karat determination.
Always read small print of any contract so you understand it completely. You should carefully read the whole contract especially if you’re using a mail service. This lets you know how much you have to pay for fees.
Many times the backs of earrings are solid gold, even when the actual earring is not solid. Necklace clasps and ring bands often are as well.You can often sell these small pieces together to get more money. This is various gold pieces in quantity and it can help you earn more money.
You can sell gold by mailing it to a buyer. This does not involve posting any advertisements or going into different shops. A prepaid envelope comes to you; you place your jewelry inside and send it back to the company. With the extra expense and the tendency of these companies to pay lower premiums, your profits may be deleted quickly. Be aware of the fact that you may receive approximately 30% less in some instances.
Separate your gold by karat values. Some vendors may try to weigh all of your gold at once and offer you for the smallest karat weight is worth. This will cost you out of money.
Gold is usually a safe investment but volatile investment. If you can’t handle the fluctuations, this is not the investment for you. If you are able to handle it, you should still limit your exposure. Only a small portion of your portfolio should be invested in gold. A prudent limit is five percent.
You can often find a good price on gold by purchasing old gold jewelry from relatives. Purchase a quality jewelry scale on which to weigh the gold. This allows you to compensate your relatives better than a pawnshop while still earning money on the deal.
Gold has been important and popular for many years. The proper information makes it easy for almost anyone to invest in gold and see a good return. Use this information to get the most from an investment in gold.