Gold has always been a very highly-valued metal. Gold was discovered centuries ago and has been adored for thousands of years. If buying gold is something you’re looking to get involved with, here are a few tips to assist you.
Be well informed about the value of precious metals before buying or selling gold. Gold, platinum and silver prices tend to fluctuate daily, so make sure you check the spot price on a specific day before you make a transaction. You also will have to pay more than melt value, but you will sell below melt value.
Get a value from several buyers before selling your goal. There are many places to get this done, and they sometimes make more money on the gold than you make on it. Getting estimates from several establishments will help you to understand what you can get for your gold.
Before you purchase a gold piece, ensure you have scheduled a quick delivery. If you don’t get delivery immediately, get it in writing confirming when you are to expect your piece. The date should be noted somewhere. Don’t proceed with the order anything without this information.
If you don’t know what your gold jewelry is worth, consider having an appraisal done. This adds an up-front cost, but it could save you a lot of money later. Use an accredited appraiser for best results. Even if you still choose to sell, do know that you aren’t going to get the appraised value.
Buy Gold
The high price of gold may put you off. You can still buy gold jewelry from a ton at a reasonable price. You can buy gold cheaply in pawn shops or online.
When selling gold, only work with licensed buyers. Most states require that dealers be licensed when dealing with the buying and selling of gold. Lots of shops or individual operators are willing to purchase gold, so you should never feel you need to go with the first offer you get.
If you plan to sell jewelry through mail-in companies, research them and their terms before heading to the post office. Be sure you figure out when you’ll get sent a payment, and make certain your jewelry is insured.
This can accumulate over time, maybe some each day so that you can get some valuable gold in about a year. Keep your stash in a safe place until you get enough of it to cash in.
Know what you actually have in your possession. Just because it looks like gold doesn’t mean it’s valuable. It’s not uncommon to find gold that has been mixed in with other, lesser metals. This has a detrimental effect on value. So, too, can items that are simply gold plated. If you don’t know what kind of piece you have, take it in to be looked at before you try and sell it.
Have a professional appraise your jewelry if you are unsure what it is worth. This adds an up-front cost, but you want to know right? If you choose to sell your piece, be aware that it’s not likely for you to get full retail value of your item.
If you’d like to sell scrap gold or jewels, shop around for best prices.
Read and understand the fine print in a sales contract. This is especially true if you decide you want to mail your gold off to a buyer. This allows you to know how much of your proceeds will be used to pay for commissions and fees.
Pawn brokers and many private sellers are only looking to pay the melt value.
Sell only to gold to buyers who are licensed. There is no shortage of places to do gold trading, so you can sell to someone else if you’re not happy with the first offer.
If you’ve come across a company over the Internet that buys old gold, shop around for pricing before doing anything. It’s not uncommon to find more favorable pricing from local buyers with physical locations. Although mailing does offer some simplicity, is it really worth losing out on a bundle of money?
Shop around before making any decisions about a gold buyer you will use. You might get many different amounts. Going with the very first buyer might prove a good idea. Take a little bit more time at first so that you have the most cash possible in your gold investment.
You know more about gold after reading this article, and can appreciate its world wide popularity. Gold is a very valuable investment and also beautifully worn. Take what you have learned here and use it to start your own investments in gold today.
Understand that you’re more than likely not going to receive true value for the gold. Dealers need to make money like other businesses. They want to generate profits and need a margin to do that. As a ballpark figure, you can expect to get about half to three quarters of the pieces’ actual worth.