If you’re interested in having gold as part of your investment portfolio, you have to find out how to go about doing so. It isn’t just buying some bullion and crossing your fingers; having the right information will help. The article that follows is going to teach you what you need to know when dealing with gold.
When selling gold, it is a good idea to get an estimated value from more than one source. Gold buyers and jewelry stores are out to make a profit, so they’ll all pay less than the actual value of the gold you’re selling. Getting multiple estimates gives you a better idea of the prevailing market price, which prevents you from getting ripped off.
Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. If your seller doesn’t offer delivery immediately, you need written confirmation of when to expect your items. This should include the date the gold will arrive to you buy. If you cannot get this document, do not complete your order.
Only buy gold jewelry from a seller if they have a return policy 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.
Know that gold in any form can be sold. Gold pieces can be anything from jewelry to tableware, even home decor. It doesn’t need to be 100% gold either. Items that are partially constructed of gold or even gold plated are acceptable. You may still get a little of your initial outlay back.
You could also use GoldMoney to buy gold. This is the equivalent of establishing a gold bank account. You set up an account, deposit your funds, and you’re assigned some gold at a price that prevails to your account. Your gold is physically kept in a vault where it can be cashed in, segmented or redeemed for bullion bars.
Do not discount the value of searching through antique stores or thrift shops for your gold. You can find bargains in these places. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. Their loss can be your gain.
Earring backings are often solid gold, even when the earrings are not. In addition, necklace clasps or ring bands may be gold, too. These pieces don’t weigh much, so try selling them all as a “lot.” A lot is a collection of separate pieces weighed and sold together; selling off jewelry in lots is often the best way to get maximum value.
Research any buyer before you decide to purchase any gold. This is crucial when dealing with any buyer who is out of the state. Consult the BBB to determine whether anyone has lodged complaints against a prospective buyer.
If you are trying to acquire some gold as an investment, check with friends and family to see if they have any broken jewelry pieces they want to sell. Purchase an accurate jewelry scale to weigh your gold. With a good scale, you can offer to buy gold for more than pawn shops will offer.
Check prices before selling online. Frequently, a local dealer who has a physical presence will provide a better deal. Although mailing your gold is more convenient, it could cost you several hundred dollars more.
After reading this article, it is time to begin using the knowledge you have gained. Consider what you have now learned, and use it within your investment strategies. Gold is a great way to fill out your portfolio to secure your future.