Gold is prized all over the world and has long been seen as a commodity for thousands of years. If you wish to enter the gold market, continue reading to gain insider’s knowledge to the gold investment market.
Consider a fair return policy as an absolute necessity when you’re purchasing gold jewelry, especially if you intend to make a gift out of it. You’re not going to be sure about the jewelry fitting or whether or not a person actually likes the piece. It’s always a good idea to be able to get your money back on a jewelry purchase if it doesn’t work out for you.
Before you purchase a gold piece, ensure you have scheduled a quick delivery. If the seller does not provide immediate delivery, you need written confirmation of when to expect your items. The date should not be a mystery; it should be clearly stated. Don’t go through an order without this document.
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 get insurance for your package.
Remember to look for gold in thrift and antique shops. If you have an idea of what you are seeking, you can really find a bargain in these places. Many people do not realize what they have and sell it or donate it to these shops. If you do some research, you can benefit greatly.
Research the market price before you attempt to sell your gold. You should also look around to see if you can figure out what other people are asking for as well. This will help you figure out a fair market value starting price point.
Shop around before you decide which gold buyer. You never know what kind of offer you wind up getting! Going with the very first buyer might prove a good idea. Take a little bit more time to get the most cash you can for your pieces.
Before selling jewelry as scrap, have an appraisal done. The more intricate the jewelry, the more it will be worth. You may have to pay for the appraisal, but it might help you get more money. In addition, appraisers may know people who may be interested in your jewelery.
Before you consider selling your gold, contact your local Better Business Bureau. You may find out about certain businesses and experiences so that have been listed by the customers who feel slighted. Pay close attention to any of the complaints and if they were resolved or not. If there are a lot of complaints on their record with the BBB, then you need to find another business.
Karat Weight
It is possible to sell your gold online and send it to a different state. Many people prefer this option because it is really easy. They send you an envelope, and you ship the gold to them, then they pay you by check. Just keep in mind that such firms usually don’t pay that much for your jewelry, as compared to other options. Keep in mind that you could be looking at a return of 30% less than other options.
Separate your gold into groups based on karat weight. Some vendors may try to weigh all of your gold at once and pay you what the smallest karat weight is worth. This will cost you money.
You can sell gold through the mail! Many sellers like this process because it is really easy.
Only buy from a dealer you know. Call the BBB or visit their online website to get assistance in finding a reputable gold dealer. By contacting the BBB, you can see if they have any complaints against them. If the dealer does have complaints filed against them, look for another dealer.
Gold is usually a very lucrative but this precious metal can also be volatile. If you do not have the stomach for quick jumps up and down, perhaps the gold market is not for you. If your stomach can handle the rough ride, still limit your downside risk. Only a very small portion of your financial portfolio. A prudent limit is five percent.
As you now know, gold is cherished as a precious metal and traded as a valuable commodity. Gold holds its value, and over time it will increase in value. Now that you’ve read this article, you are prepared to start dealing in it.
Figure out what the buyback policy of the seller is. Certain gold buyers charge premiums for re-selling your gold, though not all do. Consider whether having to ship bulky gold items to a given destination is worth it or not. To protect yourself, never purchase gold and let your buyer have possession of it.