If you want gold as part of your investment portfolio, it is essential that you know how to do it. It is not so simple that you can just dive in, but having all the information you need prevents it from being too complicated. This piece is meant to teach you about gold investment strategies.

Only sell to reputable buyers. You are able to find out more about their reputations with the local BBB and through online reviews. Do not do business with a buyer who does not treat you as a valued customer or does not offer a fair price. You have to protect your investment as well as yourself.

If you plan to invest in gold as part of your retirement plan, be sure to do it wisely. You want to ensure that it is IRS approved. You need to buy only 24-karat bullion coins or bars. Try going with bars over coins since they tend to be more valuable.

Don’t have much money? Invest in scrap gold. You can do this over a period of time, say around each pay day, and accumulate a considerable amount of valuable gold within a year or so. Keep your stash in a safe place until you have enough of it to cash in.

Melt Value

When considering selling your gold jewelry, you need to figure out if you want to get melt value or sell it as jewelry. Usually, you will only get the melt value from both private sellers and pawn shops. If you want to sell your gold as a jewelry item, you should keep looking for a good buyer.

When you plan to buy gold, make sure you look at the spot price. You can find that on a lot of websites, and that can change every day. Paying for gold that is any higher than an 8% markup is not a wise investment. Be on the lookout for any unscrupulous dealers who try to get away with overcharging you.

Think about shopping thrift and antique shops to discover gold treasures. When you know what to look for, you can find a great deal. Many people donate or sell to these places at low prices because they don’t know what they own. Reap the benefits from that loss, but only after researching first.

Always research the market price before you try and sell your gold. Look around to understand what people are asking for similar pieces. You will get a general idea of the kind of price you can get. Always start a little higher that what you are actually hoping to get, so you have room to negotiate.

You can easily test whether a gold piece of jewelry is real by using a simple magnet. True precious metals such as gold will not stick to the magnet. In some cases, only an item’s clasp is solid gold, while the remainder is merely plated. This is a smart idea to test it this way.

Carefully read and check the small print in the sales contract. If you’re using a mail-in gold program, read all the fine print prior to committing to the deal. This will show the commission and fees associated with your transaction.

Now is a good time to use this knowledge and invest in gold. Remember the information you have learned and use it for your investment strategy. If you are future planning, then you may find gold investment an exciting idea.