What information do you knowledgeable about gold trading? Do you feel new to this? Are you an experienced investor that wants to learn new tips and tricks? Whatever your knowledge base, this article has expert tips that will help you. We know you’ll learn something new.
Get your gold valued by multiple sources. There are a large number of venues for selling your gold, and they each have different target margins. By getting multiple estimates, you can be assured that you will get a fair price when you sell.
Research a gold buyers and compare them to obtain the best price for your gold.
Before you buy gold from gold sellers, get a guaranteed delivery date. If delivery isn’t immediate, make sure you get a written contract outlining when the items will arrive. The expected date should be noted somewhere. Don’t go through with the purchase unless you have this in hand.
Look into selling gold on the Internet. You no longer have to go to a store to sell your gold. Many websites want to buy gold from you. You can get a kit to send your gold to these websites for money. They will send you payment for your goods after they receive your items.
Check out current price in the gold market before you sell your jewelry. This way you will indicate whether you’re getting a fair price or not.
If you decide to send your jewelry to a company through the mail, do some research on them and their policies before you do so.Find out when you will receive your money, and make sure you insure your package.
Anything with gold can be sold to a good dealer. Gold pieces can be anything from jewelry to tableware, even home decor. It also doesn’t have to be 100% pure gold. It could be part of an item that’s gold, or just gold-plated. They won’t be worth as much but you can still get money for them.
Only buy gold jewelry from a seller if they have a return it.If this happens, you want to be able to take the piece back for a refund.
Make sure you verify the price of gold the same day you plan to buy or sell. This price can be found on several different websites. Never pay any more than an 8 percent markup above the gold prices. Some dealers charge more than that, but that isn’t ethical.
Find out the spot price for gold on the day that you’re planning to buy. This information is readily available online. Be aware that it is updated every day. When you actually go to buy, do not pay more than an eight percent markup over this price. There are dealers who attempt to charge a higher amount, but they are unethical and simply overcharging.
Research the daily spot price before you attempt to sell yours. You should shop around to see what others are asking for similar gold pieces. This allows you can work with.
Shop around before making any decisions about a gold buyer you will use. You might be surprised by the variety of offers received. Going with the very first buyer might prove a good idea. Take a bit of extra time upfront so you’ve got the maximum return on your pocket.
An inexpensive and simple way to see if an item is gold is with a regular household magnet. Precious metals do not respond to magnets. In some cases, individual parts of a piece (like the clasp) may be solid gold while other parts are plated. A magnet is an easy way to test.
Use a magnet to quickly determine if an item is really made of gold or another precious metal. Precious metals do not going to be attracted to a magnet. Sometimes only plated in gold with a solid but the rest is plated. This is a good test that.
Read and understand the fine print of your sales contract. You should carefully read the whole contract especially if selling through a mail-in purchasing service to sell gold. This helps you keep better track of proceeds you have to pay for fees.
Have jewelry appraised prior to selling it to anyone as scrap gold. This tends to be true for pieces that have intricate workmanship and details. An appraiser will charge you a nominal fee, but it is an expense worth paying if your piece is unique and valuable. The appraiser may also know someone who maybe interested in your jewelry item.
Have your pieces appraised prior to selling it to anyone as scrap gold. This is especially true for one-of-a-kind pieces like jewelry with intricate details and design. You might have to pay a fee to get this appraisal, but it might help you get more money. An appraiser may also have connections with jewelry items.
Now you’re better prepared to tackle the gold market. You can earn yourself a lot of money by being more confident trading gold. After all is said and done, this is what you’re wanting and the above tips can help you with that.
One way to sell gold is through the mail. Most sellers enjoy this process so much due to its simplicity. You put jewelry in a prepaid envelope and you’ll eventually get a check. However, remember that these companies often don’t pay as much for your gold as other places. It’s possible that you might receive an offer that is up to 30 percent less than what you receive from another party.