A lot of people need to get into gold as a safe way to hold onto their wealth. A lot of investors will say that the gold is a great place to park your money during times of economic uncertainty.
Bullion is the best choice if investing in gold. They are available in various weights. From .5 ounces to 400 ounces, the choice is yours. Four hundred ounce bars will be hard to locate.
Gold fluctuates a lot, so make sure you are aware of the value before you try to sell any. If you make the decision to sell gold, sort it by karat so that it can be valued separately. Don’t sell jewelry that’s worth than straight melt value.
Before you buy gold from gold sellers, know when it is going to be delivered. If your seller can’t commit to immediate delivery, get something in writing which confirms delivery of your pieces. The date they expect you to get them should be provided. Proceed with the order only if you get this information is forthcoming.
Sell to licensed buyers only. This does not prevent you from getting scammed, but a licensed buyer probably has a better reputation. Many individuals, pawn shops and jewelry stores are interested in buying gold. Be picky about your buyers.
If you’re sending your gold to some company via the mail, make sure to do your research first. Be certain you have a clear understanding of the timeline involved, and be sure things are insured too.
Use a magnet to test inexpensive jewelry to determine if it consists of gold. Precious metals do not going to be attracted to a magnet.Sometimes only plated in gold with a solid gold clasp. This is a smart idea to test that.
Avoid letting people know that you are planning to sell your gold. You never know who else could be listening or who you can really trust. Play your cards close to your chest and keep your gold in a home safe or a safety deposit box at your bank. This will ensure your gold has protection no matter what.
Research all that you can before investing in it. There will probably be people saying that they know what they’re market gurus and want you to invest with them.
Before selling your gold, you will want to inquire with the BBB. You will see if there were any complaints and customer reviews.Look at any past complaints to find out whether or not they were resolved. If the purchaser has any unresolved complaints, consider another buyer.
Always separate out your gold according to karat weight before you sell it. A vendor may scam you by weighing what you have together by the lowest weight in karat. You will end up losing money. Have everything organized to maximize the amount of money you get.
You can still invest in gold without actually having gold in your hands. If you decide to buy physical bars or coins, factor in the cost of storage in a secure location.
One option when selling your gold is through the mail. Many sellers like this option because it is simple.
Know how to test the grade of gold if you are investing in gold. Purity is rated in karats. The higher the karat number, the costlier and more pure the gold will be per ounce. You should not just rely on the karat stamp. If you can test the purity, you will never over pay.
Know your investment goals are before investing in gold. Gold is good to have around in a bad economy, but it is great when you are trying to balance your portfolio through rough economic times. If you’re able to set a limit on being exposed to it and have a few things in mind before you set out, you’ll end up making more money with your gold.
Buying and selling gold is not as complicated as it may seem at first. Anyone can understand it. You just got some great ideas about gold, so you can jump right in. Use this information as you begin investing in gold.
Find out what your seller’s buyback policy is. There are gold buyers who ask for a premium when they resell your gold, and there are those who do not. Think about the cost and inconvenience of shipping gold bars to various locations. For safety’s sake, never allow your dealer to retain physical custody of gold that you have purchased.