Gold is probably the safest investment you can make. Perhaps you have considered the gold market but aren’t sure where to begin. This article will give you the ins and outs of gold.
When you invest in gold, the best way to invest in is bullion bars. These come in various weights. Bars may be a half ounce, 400 ounces or anything in between. The 400 ounce bars are generally hard to find.
Sell Gold
Gold fluctuates a lot, so make sure you are aware of the value before you try to sell any. If you choose to sell gold items, keep in mind that pieces that have different karat values need to be valued and weighed separately. Don’t sell gold jewelry that is more when sold as a designer piece.
Always make delivery arrangements before purchasing gold from a vendor. Delivery times are important. If this is not possible, make sure you get a written contract outlining when the items will arrive. The expected delivery date should not be a mystery; it should be clearly stated. If you cannot get this document, do not complete your order.
If you’re thinking of mailing off some jewelry to someone, do your homework on the company and its policies before you make a commitment. Find out when you will receive your payment, and make sure you insure your package.
Get an appraisal to find out the exact value of your gold holds. While you may have to pay a fee, you will at least then be fully aware of what you own and what it is worth. If you’re going to sell the gold you have, understand you won’t be offered full value it was appraised for.
If you want to send jewelry to a gold company via mail, check them and their conditions out carefully before going to your post office. Be sure to understand when to expect payment and how to insure your items. Last, but not least, photograph each item you are sending via mail so that you have recourse if a dispute occurs.
Pawn brokers and private sellers are only looking to pay melt value.
Check the prices of golds the day you buy. This price can be found on several different websites. Never pay in excess of 8% markup on the gold prices.Some will attempt to charge even more, but it is a rip-off.
Only buy gold jewelry from a seller if they have a return policy It’s not uncommon for many pieces to not be the receiver’s taste or the wrong size. If that happens then you’re going to want to return it and get your money back.
When sending off your jewelry, be certain you know how much return mail will cost should you change your mind. Be sure that you know exactly what those fees will cost to get back your jewelry.
Sell only to gold to buyers that are licensed. There is no shortage of places to do gold trading, so avoid thinking you have to go with the first buyer you see.
Make sure you verify the price of gold the same day you plan to buy it. This information is available on a number of websites. Never pay more than 8 percent over the current sales price of gold. Some dealers will try to charge more, but they are overcharging and oftentimes, not ethical.
Don’t discount the value of looking for gold items from thrift stores or antique stores. You can find great bargains in these places. You can reap the benefits of their loss!
Be sure you know about the true value of your items. Not everything is worth its weight in it. Other metals are often mixed with gold in order to make it stronger.This will lower the value. This also applies to gold plated items as well.
Never sell to an unlicensed gold dealer. There’s always a risk of getting ripped off, but a buyer who is licensed poses far less risk of this occurring. Do not be forced into selling to the first buyer you find if you are not happy with the terms on offer.
Research the market price of gold before you sell yours. You should see if you can figure out what other people are asking for as well. This will give you to have a fair market value starting price level to utilize.
Use a magnet to test inexpensive jewelry to determine if it consists of gold or another precious metal. Precious metals do not going to be attracted to a magnet. Sometimes only the clasp is solid gold clasp. This can be a good way to test that.
Be careful approaching the gold market. Every marketplace has bad apples, but the gold arena is renown for possessing quite a few. You must be diligent and do your homework. Always exercise caution.
Many pieces of jewelry will see the item have a stamp on it. Sometimes, however, you won’t be able to see any kind of a stamp, so many representatives have other methods of figuring it out. If you see the gold buyer performing an acid test, it’s an indication they are a newer business.
Gold investing is a good idea for anyone with some extra money. Now that you have learned the basics on gold buying, you can be more confident with your abilities in the market. Refer to this article whenever you have a question.
A fast, cheap way to test for gold’s authenticity is to use magnets. Precious metals like gold are not going to be attracted to a magnet. Certain pieces have a clasp made of real gold while the remaining parts are plated. You will find this to be an effective way of testing this.