Gold has consistently held its ground since it was initially discovered a commodity for thousands of years. If you’re looking to invest significantly in gold, read these tips to be the best at it you can be.
Bullion bars are an excellent gold investment. Bullion bars come in a variety of weight. Bars may be a half ounce, 400 ounces or anything in between. If 400 ounce bars interest you, know it will be hard to find them.
Do not dabble in the gold market until you know how pricing on precious metals works? Silver, gold and platinum prices fluctuate often, so spot check a price on the day you plan to do business. 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.
Research gold buyer before selling your gold.
Check out current market values before you ever sell any jewelry. That is going to help you figure out whether you are being offered a good deal. Most dealers will make you a fair offer, but some will try and rip you off.
Think about selling your gold via the Internet. You no longer need to visit 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 mail you a special kit for mailing in which you’ll return the gold items.
Expected Delivery Date
When buying gold jewelry for another, make sure you can return it. You’re not going to be sure about the jewelry fitting or whether or not a person actually likes the piece. If that happens, you want to be able to take the piece back for a refund.
Before you buy gold from a dealer, ensure you have scheduled a quick delivery. If you don’t get delivery immediately, you have to get a written confirmation on when the expected delivery date is. The expected delivery date on which you can expect to receive the items should be something you can see listed. Don’t order until you have this documentation.
If you’re sending your gold to some company via the mail, you need to be sure you do your research first. Find out when you can expect your payment, and never send your package without insuring it first.
Check the price when you are buying gold. Many websites contain this information and it varies every day. Only place your order if you can find a dealer willing to sell for an 8% markup or less over the spot price. If you find a dealer asking for more than 8%, they’re overcharging and may not be ethical.
The IRS needs to approve the gold that you receive. Bars typically are often a better deal than the coins.
Have a professional appraise your jewelry if you are unsure what it is worth. This will cost a little money up front, but it could save you a lot of money later. If you decide to sell, do be aware that you won’t receive the price the piece has been appraised at.
While purchasing gold can be quite exhilarating, try not to discuss your purchase with others. Someone around you could be listening in and be untrustworthy. Keep your gold investments to your own self, locked up and secure. Consider a bank lockbox or a safe at home. That will ensure that a home robber doesn’t get away with it.
Make sure you verify the spot price of gold the same day you plan to buy it. This price can be found on several different websites. Never pay any more than 8 percent markup on the gold prices. Some dealers will try to charge more, but they are overcharging and oftentimes, which is generally unethical.
GoldMoney is a good resource to use in gold buying gold. It is very much like setting up a “gold banking account.” You can open an account, and they assign you a certain amount of gold equivalent to the value of your initial deposit. The gold will physically sit in the bank where you can cash it, cash it, or in certain circumstances, you can redeem it for gold bullion bars that weigh a kilo.
You can sell your gold by mail. It’s an easy and quick way to sell your gold. They send you an envelope, and you ship the gold to them, then they pay you by check. But, keep in mind that such enterprises tend to offer lower prices than some competitors. A seller might offer you as little as 30 percent of the value, so be careful.
As this article has shown you, gold is a great thing to own and to invest in as well. It is generally a good investment because it holds its value over time. Now that you are more educated about acquiring and owning gold, begin creating your own gold collection today.