Author Archives: Ashley Whitfield

Want To Make Money In Gold? Read These Tips.

Getting into gold is a great way to make sure you’re taken care of in the future. Maybe you’ve thought about entering this market, but didn’t know where to start. This article is for you! In this article we will present excellent advice on investing in gold.

Before you get into investing or selling gold, it’s best to understand how it works. With silver, platinum and gold the prices vary wildly throughout the day, and in order to get the correct price you must spot check it on the day before making a purchase. Also, understand that some types of gold will be more expensive than others.

Read reviews and do your research before choosing a dealer to buy your gold. Check for online reviews and reports from the BBB and see how these dealers resolve complaints from their customers. By getting bids from several different gold buyers, you will be more likely to get top dollar for your gold.

Before you buy gold, be sure you know exactly when it will be delivered to you. If the seller delays delivery, you have to get a written confirmation on when the expected delivery date is. The date of arrival should be something you can see listed. If you cannot get this document, do not complete your order.

Only certain kinds of gold are suitable for contributing to your retirement fund. Your gold has to be IRS approved. You want to make sure you buy 24 karat coins or bullion bars. The bars are a better buy than the coins are because they are more likely to retain their value.

Confer with the gold party rep to determine the method used for judging karats. Quite often, the gold will be stamped. There are ways to determine a piece’s purity if no stamp is present. Acid tests are simple ways to do this, so if the rep does this, they’re probably new to the business.

Research the market ahead of investing. Lots of folks claim to be experts and want to get their hands on your money. Be skeptical of “get rich” schemes. Don’t set expectations too high and you won’t be disappointed in your gold investment.

Only buy from a dealer you know. Check with the Better Business Bureau to verify the reputation of a dealer. You can check out complaints and see if they were resolved. If so, think about using someone else.

Do not sell your gold for no good reason. Gold prices always go up. Why not wait until you can get a better price? If holding onto the gold you own is an option, you may stand to benefit greatly down the road.

When selling gold, separate your pieces based on their karat values. Gold values vary based on karat weight, so lumping different weights together will result in a reduction in the price received. The higher its karat value, the higher the gold’s value.

Gold has gone up by four hundred percent in the last 10 years, which is great news for gold owners. Investing in gold depends on how good the dollar is doing. Basically, when the dollar is weak, gold prices will remain strong.

A good way to get a good price on gold is to ask your relatives for their broken jewelry. Buying gold from people you know cuts out the middle man so both sides will make more money than they would going to a pawn shop.

Gold investments can be for any type of investor, from a seasoned pro, to a rookie. Now that you know a little about what you are doing, you can feel good about making a transaction in the gold market. Keep these tips in mind going forward.

What You Must Know About Buying, Selling And Trading Gold

How would you respond if someone said that gold investing had the power to make all your financial dreams possible? You need the right information in order to be successful in gold investing. You can be on your way if you follow the advice and tips below.

Sell your gold online. Gold dealing doesn’t require physical stores anymore. Numerous websites exist on which to buy and sell gold. You will receive a package that details how to send you gold pieces. They will pay you once you send the gold in.

Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. Be sure you have your delivery date in writing. Immediate delivery is best. Make sure that a specific date is listed within this writing. Don’t not follow through with the purchase unless you have this in hand.

Before you mail any jewelry to a particular company which purchases such items, be sure to do your homework and check out the company thoroughly before you do so. The last thing that you want to do is lose money because of a flawed shipment. Make sure that you photograph each piece of gold you’re sending before you mail it off.

If you’re buying gold to save for your retirement, buy the right type. The IRS has to approve the gold. They must be 24 karat bullion bars or coins. Buy bars instead of coins to increase your profits.

If you’re not sure about the value of your jewelry, you can have an appraisal done. This can cost you a little initially, but you want to know right? In order to have it valued most accurately, go with an appraiser who is accredited and independent. Even if you still choose to sell, do know that you aren’t going to get the appraised value.

You can sell anything that contains gold to gold dealers. Decorations, flatware, broken jewelry, anything you have with real gold content is potentially valuable. It doesn’t need to be 100% gold either. It could be part of an item that’s gold, or just gold-plated. You may still get a little of your initial outlay back.

Melt Value

When selling jewelry, be aware that most gold buyers will only pay you on the melt value. Some buyers, including a lot of private sellers and pawn shops, only care about melt value. If you are selling a piece of jewelry, you should pursue a better deal.

Make sure you know the spot price of gold the day you plan to buy or sell. The spot price is readily found on the Internet. When you actually make your purchase, refuse to pay more than 8 percent more than this price. Some dealers are going to try and charge you more, but don’t pay it.

Don’t brag about your gold purchases, no matter how excited you are. You can’t be sure who’s listening or who is trustworthy. Lock your investment up in a safe at home or at a bank and don’t let anyone else know. This ensures that you retain your gold and that it is safe regardless of the circumstances.

You can easily test whether a gold piece of jewelry is real by using a simple magnet. Real gold won’t stick to a magnet. Check the chain as well as the clasp for an accurate reading. You will find this to be an effective way of testing this.

Although gold can be a lucrative investment, it can be volatile. If you cannot tolerate ups and downs, look elsewhere. Even if you are willing to take on some degree of risk, you must take steps to minimize that risk. Make gold just a small portion of your portfolio at first. Typically, you should be okay with five percent.

Though you won’t become rich in one day, profits can build up when using the above advice. Investing in gold is something that will pay off over time. Slow and steady wins the race, so don’t rush it and enjoy the process.

Wise Tips For Getting Into The Gold Market

Gold has been treasured throughout history and still has high value. Everybody cherishes gold, but not everybody is familiar with how to get it. If you wish to purchase gold now, you should keep reading here for information on what to do.

When you invest in gold, the best way to invest in is bullion bars. Bullion bars come in a variety of weight. You can purchase a large, four hundred ounce bar down to a tiny half ounce one. The larger bars can be very difficult to find.

Research several gold buyers and compare them to obtain the best price for your gold. You want to determine how the business treats its customers and whether there are outstanding complaints against it. Additionally, get several offers before selling to a gold dealer to ensure you get top dollar.

If you intend to convert your gold jewelry into cash, you’ll have to choose between selling it as jewelry or for the “melt” value of the gold it contains. If you are selling to pawn shops or most private sellers, expect them to offer the melt value. Don’t lose faith; there is always someone willing to buy the item as an entire piece.

Check the prices of golds the day you plan to buy. This information is readily available online. Be aware that it is updated every day. When purchasing, don’t pay greater than 8% markup above the spot price. Some dealers are going to try and charge you more, but don’t pay it.

Go through thrift shops and antique stores looking for gold. You can find bargains in these places. Lots of folks are unaware of the value of the items they donate to these places. A little bit of effort on your part to look around can yield big results.

Always do your homework before investing. Any market has its bad companies, but the gold market is notorious for having a lot of them. Lots of folks are willing to steal right out from under you. Because of this, you need to be extra cautious and really research.

Shop around before making any decisions about a gold buyer. It might come as a surprise and you never what kind offers are out there! If you choose to sell to the first buyer, you might get a bad deal. Be sure to take time to choose your buyer wisely for the best profit.

There are other ways to invest in gold other than physically owning it. Buying gold-focused mutual funds and stock in companies that mine gold are other options for investing in gold. For those that want to buy real gold, make sure you think about how you are going to keep the items safe.

There are many different companies that you can mail your gold into. Most sellers enjoy this process so much due to its simplicity. You are given an envelope that is prepaid and you pack your jewelry into it. After a while, a check comes to you. However, know that these buyers don’t pay what you might get somewhere else. In some cases, you could get about 30 percent less for an item, so just be aware.

Gold has the potential to be a profitable investment, yet the market can be volatile. If you cannot tolerate ups and downs, look elsewhere. Limiting your risk is important even if you have a great deal of strength. Only invest a small portion of your portfolio in gold. Five percent is often touted as an advised cap.

As you can now agree, gold is a treasure. Gold is also a highly traded commodity. Gold is a sound investment due to its ability to retain a steady value that is more likely to rise rather than fall. Now that you have a basic understanding about gold and its value as an investment, go out and learn all you can to help gold make money for you.

Learn The Ins And Outs Of Gold With These Tips.

Gold prices are increasing nearly every single day. If you’re someone who has been interested in gold investing, you’re in luck, because anyone can do it. These gold tips can help you earn some profit.

Gold prices change frequently, so you must stay apprised on the values of your items. If you have made the call to sell any gold you have, group your pieces by karat value. Stay away from selling high-end jewelry pieces because they have more value.

Stay with reputable buyers when you sell your gold. Check reputations at the BBB and via online reviews. A good buyer is going to give you a good price, and will provide you with superior customer service too. Doing this protects your investment.

Before you buy or sell your gold, make sure you understand how the prices of precious metals work. Silver, gold and platinum prices fluctuate often, and therefore you need to verify spot pricing the day prior to your intended deal. You must to pay a premium to the melt values if you’re buying less than one ounce pieces.

Gold Buyers

All gold buyers are different, so it is important to look around and find someone that you feel comfortable doing business with. BBB and consumer reviews are two sources of information that can give you an indication of a dealer’s reputation. By getting bids from several different gold buyers, you will be more likely to get top dollar for your gold.

If you don’t want to worry about storing, shipping and insuring your gold, consider buying GoldMoney instead. It’s like opening a bank account, but for gold. You establish your account and deposit your money, and they assign you a certain amount of gold equivalent to the value of your initial deposit. Your gold is physically kept in a vault where it can be cashed in, segmented or redeemed for bullion bars.

Do not forget to search thrift shops and antique stores for hidden treasures. When you know what to look for, you can find a great deal. Lots of folks are unaware of the value of the items they donate to these places. You can reap the benefits of their loss if you do your homework first.

Before selling your gold, comparison shop. You’ll be surprised by all the different offers you’ll get. By picking the first dealer, you could get a horrible deal. Taking your time can really end up getting you the best deal out there.

Talk to a the gold party representative to learn how they make karat determinations. Many times, the items are stamped. However, you may see no sign at all but there are ways to determine its value. One simple way to do this is to use the acid test; if your rep does this, he might be a novice in the business.

Sort your gold by how many karats it is. This will ensure that you are paid correctly; otherwise, a dealer may try to pay you using the lower karat weight values. You will lose money that way. Rather, approach the vendor with separated piles in order to maximize your profit.

When working with gold dealers, make sure to read all of the fine print you are given. There is a lot of money in gold and some unscrupulous brokers out there. It’s best to pay attention to what you’re signing your name to. If any of the terms bother you or cause you hesitation, walk away from the deal. It can be worth it to make sure you have that extra protection.

Now that you have read this information, you can now enter the gold market with confidence. You will be able to do a better job with the information you’ve learned here. Use the advice you learned here, and you are sure to be prepared.

How You Can Make Money By Selling Gold

Gold prices vary daily; however, it is always slowly rising. With precious metals such as gold, there are always buyers. When the economy is tough, the price of gold often remains high. This article will show you some simple ways you can start taking advantage of this precious metal.

Always do your homework to find an honest and reputable gold buyer. Look for online reviews and check the BBB website for complaints and resolutions. When you get bids from multiple buyers, you may be able to get top value for the gold.

Before you mail off your gold, make sure that you understand the polices, fees and terms of the company you are dealing with. Find out when you will receive your payment, and get insurance for your package. Take a photo of all the items you are sending so there will be no questions later.

If you’d like to sell scrap gold or jewels, look around for the best price. Bear in mind that the market price for gold you can find online (the “spot”) is only an average; different dealers will offer you different prices under (or even over) the spot. Stores which are not centrally located may be able to give you a better price.

Go through thrift shops and antique stores looking for gold. If you you’re aware of what to look for, you can find some great bargains. Many people donate or sell to these places at low prices because they don’t know what they own. If you conduct research, their loss can turn into your gain.

Know the true value of your gold. There are many things that look like gold, but are completely worthless. A lot of the time there will be something mixed with the gold so it holds up better. This can make the price a lot lower. This is also true of items that are just plated. If you don’t know how much your gold is worth, then it would be wise for someone to appraise its worth if you intend on selling it.

Go over the fine print that’s in any sales contract. If you are selling gold by mail, this is even more important. That way, you will be aware of the cut of your proceeds that will go to fees and commissions.

Knowing how to determine the grade of gold is essential if you want to invest in gold pieces. The purity of gold is measured in karats. The higher the karat, the more the gold is worth. Although a lot of gold jewelry has a karat stamp, you should verify its accuracy. You can make sure you never pay too much for poor gold quality when you know exactly how to test gold purity.

Map out your goals prior to investing in gold. The gold market is volatile, even though it is a good investment when the economy is in trouble. You will get a better return on your investment if you have some clear expectations and choose an investment adapted to your needs.

You can invest in gold by purchasing beautiful gold jewelry. This type of item can be an investment in addition to being something you can enjoy. High end jewelry also increase the value of this type of investment.

I’m sure you already know the value our financial system places on gold. Take advantage of this commodity that fluctuates daily by understanding it to get more out of it, and then secure any financial goals you have. Put this information to good use when you are considering gold investments.

Unlock The World Of Gold By Following These Simple Tips

A current trend in light of the weakened economy is investing in gold. However, this is not always the case. Read the following article to learn more about gold and how you can make a safe investment.

Bullion bars are a great choice if you wish to put your money in gold. They come in weights that vary. Bars may be a half ounce, 400 ounces or anything in between. If the 400-ounce bars interest you, you’re going to have a hard time finding them.

It is important to only do business with people who have a good reputation. Look at the Better Business Bureau to gather information about the company to see if their legitimate or not. A legit buyer will offer a fair amount for the gold you have. Protect your gold investment by doing this.

Gold Jewelry

Sometimes the cost of gold causes buyers to go for cheaper imitation jewelry instead. You can still buy gold jewelry without spending too much at the jewelry store. You can usually find more affordable gold jewelry online, or if you visit pawnshops.

If you’re sending your gold to some company via the mail, check them out before doing business with them. Ensure you understand the reimbursement terms, and don’t neglect to purchase postal insurance for the package. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.

If you buy gold for your retirement fund, be sure it’s the proper kind. Gold as an investment must be designated as approved by the Internal Revenue Service. The gold has to be either coins or bars, of the 24 karat variety. Gold bars tend to hold their value better than gold coins.

Realize that any piece that contains gold can be sold to a buyer. This could be jewelry pieces which are broken, home decor, tableware or any other gold items you have around. It is not really necessary for these items to be solid gold. A gold plated item or an item that is not entirely made from gold is still valuable. The amount you can get will depend on how pure your item is.

If you take jewelry or scrap gold to local companies that will pay for it, shop around. Many stores do not pay the going rate for gold. Stores which are not centrally located may be able to give you a better price.

Be fully aware of what you have. Even though the item looks like gold, it may not have much value. Many times, gold is mixed with other metals to increase its strength. This results in a price reduction. Items that are just plated in gold can also be affected. Getting gold jewelry appraised is always a good idea if you want to be clear about the potential sale value it represents.

You can use a magnet to determine the authenticity of gold. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. Sometimes you’ll find a clasp to be something solid, but everything else is plated. This is a smart idea to test it this way.

Instead of immediately thinking you have scrap gold, take it to get appraised first. This tends to be true for pieces that have intricate workmanship and details. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. An appraiser might even be able to help you sell your special item.

Karat Weight

Be sure to separate all your gold items by karat weight before sale. Some buyers will weigh all your gold at once and offer you what the smallest karat weight is worth. You’ll lose out on a lot of potential profit this way. Present the buyer with different piles of gold so you can get a good price for your gold.

While many people think that investing in general is hard, investing in gold is not hard if you learn a little about how it works. The information shared here should make it so that you can begin your foray into gold investing. Use the tips to help you invest more wisely.

The Most Useful Gold Information You Will Read

As various forms of currency decrease in value, gold prices continue to go up. This means it is a good investment and also a great tool for creating income. When you sell or buy gold, you should consider certain important things. The following article offers solid information from the experts that shows you how get more out of buying and selling gold.

Think about using the Internet to sell gold. Gold trading doesn’t necessarily have to happen at an establishment with walls. It is possible to utilize a website to sell gold items. They’ll send you a kit in which you can send the gold items you wish to sell. If all is in working order, they’ll then pay you at their going rate.

Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. Always get a timeline in writing of when your gold pieces will be delivered if immediately delivery is not provided by the seller. The expected delivery date should not be a mystery; it should be clearly stated. Don’t go through an order without this documentation.

Buying Jewelry

Do not allow the high price of gold to deter you from buying quality products. You will not benefit from buying jewelry that is plated or filled with gold. You don’t have to spend a fortune buying jewelry at a specialized shop. Pawn shops and online sites have hundreds of gold pieces for sale.

When purchasing a piece of gold jewelry for someone else, be sure there is a return policy. People’s preferences in jewelry are different, and the piece might not fit the person. Because of this, it is critical that you are able to bring the piece back to obtain a refund.

Before you ship gold jewelry to a buying service, find out whether you will be charged for return shipping. If you are not satisfied with the offer, you will have to pay this amount. Many companies offer free shipping; however, they may charge shipping for returns. Be sure you have an idea how much it will cost you to reclaim your items.

Confer with the gold party rep to determine the method used for judging karats. Sometimes there is a stamp. Other times, though, there are no outward signs, and therefore representatives rely on other techniques. If you see the gold buyer performing an acid test, this is probably somebody who is inexperienced in this market.

You must know what investments to make before you actually start investing in gold. Some people swear they’re market experts and attempt to get you to invest with them. But, be wary of get-rich-quick promises. As long as you are reasonable and rational about these claims, you will find it easier to focus on the goal and the best way to achieve it.

The first thing you should do when selling gold is group the pieces by karat weight. The buyer will doubtless weigh all of your pieces before setting a price for them, and if you aren’t attentive you may see everything lumped together and weighed with the lowest-karat pieces. That’ll mean less money for you. Rather, approach the vendor with separated piles in order to maximize your profit.

Don’t sell gold out of desperation if you can help it. Gold usually increases in value, so it is something you should keep around for a while. If you can hold onto your gold, it may benefit you more in the future.

The price of gold has increased 400 percent over the past 10 years, and that is great for gold owners. One of the most important determinations of gold values is the relative value of the dollar. Generally, a weak dollar equals strong gold prices.

It’s easy to see why the market for gold has remained so strong. Gold keeps growing in value, providing terrific returns. Remember what you have learned here when you are ready to begin investing in gold. Take note of the advice that has been provided here and put it to use when you next buy or sell gold.

Tips To Help You Make Money With Gold

Comparison shop when it comes to selecting a buyer. You can see how various dealers handle customer complaints by viewing online reviews and contacting the BBB (Better Business Bureau). If you get quotes from multiple buyers, you will get the most for your gold.

Do not allow the high price of gold to deter you from buying quality products. You will not benefit from buying jewelry that is plated or filled with gold. It is very possible to buy real gold without spending a lot of money at a jewelry store. It is easy to get great deals on gold jewelry from online retailers or pawn shops.

Figure out what return shipping will cost if you don’t like the offer the mail order gold buyers are willing to give you. Most companies will give you free shipping to them but charge you an arm and a leg for return postage. Be sure you figure out what things will cost before you start mailing off your jewelry.

Although buying gold is exciting, don’t talk to people about this. You cannot put your trust too easily on people. Stay quiet about the investment and make sure you keep it safe. This will ensure your gold has protection no matter what.

Ask what method is used to determine the purity or karats of your jewelry. Often, the item will be stamped. However, there are some times when there aren’t visible signs, so the reps have ways to determine it. The most simple test involves the use of acid. If the company claims to use that type of test, it may be an indication that they are not as experienced with accurate testing methods.

Prior to selling your gold to a buyer, jeweler or dealer, check them out on the BBB. In this way, you can get sound information on the performance and history of these entities. Look carefully at complaints and whether they were solved or not. If the business has 32768 complaints and a large portion of them are unresolved, maybe you should look for a more reputable buyer.

Gold should be separated by karat weight before sale. Weighing the items separately ensures you get the true value its worth, but some sellers won’t do this. You will walk away with less money. Separating the gold before you go prevents this from happening.

One choice for selling gold is sending it through the mail. This is an easy way to get the job done. Oftentimes you will be provided with a prepaid envelope and will receive a check in the mail. One thing to consider, though, is that the majority of these places won’t pay nearly the same amount as a local place in your area. In some cases, you could get about 30 percent less for an item, so just be aware.

Don’t sell gold out of desperation if you can help it. Just because the price is higher than ever doesn’t mean it won’t go even higher, since gold is something tends to continually increase in value. The longer you can hold your gold, the more profit you can make on it.

Karat Values

When selling gold, separate it into different karat value groups. The gold values differ by karat values so if all the gold you have is weighed together, it won’t be the best value you can get. Higher karat values yield higher prices.

What You Must Know About Buying, Selling And Trading Gold

Anyone following the gold market is aware of the new interest stemming from investors from all walks of life. It’s important to be informed and ask those that are successful for guidance. This article will help you begin your journey to gold investment profits.

Bullion bars are hands down your best gold investment. They are available in various weights. The weights range from 0.5 oz to 400 oz bars. A heavier bar may be more difficult to find, however.

Gold Online

Sell your gold online. Gold trading doesn’t necessarily have to happen at an establishment with walls. There are many places to sell gold online. Most sites work by mailing you a mailer or kit. You then use your mailer to ship the gold. They will pay you once you send the gold in.

Prior to purchasing a gold item from a seller, you must be certain you have a firm delivery agreement. Always get a timeline in writing of when your gold pieces will be delivered if immediately delivery is not provided by the seller. Their expected delivery date should be indicated. Do not finalize your order until you receive written confirmation.

Get an appraisal to find out the exact value of your jewelry. The small investment required will ensure you get what your jewelry is worth. Use an accredited appraiser for best results. Remember, though, that you won’t get the appraiser’s price for your gold.

If you send off gold by mail, see how much it is to have it returned to you if the offer isn’t that great. Many companies will pay for your postage when you send but charge a high price when they return the piece to you. Make sure you know in advance what you might have to pay to get your jewelry back.

Think about GoldMoney and other such services when you want to buy gold. It s sort of like a bank account for gold. You make an account, bank your money, and then you receive gold at the price you chose for your account. Instead of having to keep this valuable commodity at home, it sits safely in the vault at the bank. You are free to withdraw any time you chose.

When selling gold, research the market price. Also, ask around to find out how much similar pieces are going for. This will give you a price point to work with. Always ask a little above what you want so there is room for negotiation.

Before you sell a piece of jewelry for scrap, have the piece appraised first. This is an absolute must-do if you are selling unique, handcrafted pieces of jewelry. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. Appraisers also may know of an interested party for your precious jewelry.

Before you consider selling your gold, check the BBB.org website. You should easily find basic facts concerning the specific business, as well as complaints and reviews from previous clients. Pay attention to complaints and see if they’ve been resolved. If you see lots of complaints that have gone unresolved, think about moving on.

Before selling your gold, separate it into different karat weights. You don’t want everything thrown together in one pile, because it will all be weighed as if it is the same karat. You’ll lose out on a lot of potential profit this way. Separate your items by karat in advance to avoid being tricked.

Research a gold dealer before doing business. To ensure you are dealing with a trustworthy dealer, inquire with the area BBB. Get in touch with the BBB to find information about which complaints, if any, have been filed. If you find filed complaints, you may want to think about going with a different dealer altogether.

Gold is currently a very popular way to safeguard finances. If you want to begin investing in gold, use the information located above. By using the things you learned here to deal with gold, you will find yourself to be successful.

What You Have Always Wanted To Know About Gold

The market that gold commands has seen a huge spike in popularity because of the worldwide recession. It could be that you’re looking to join in on this popular gold market frenzy as a way to ensure that your financial future is safe. Eliminate your doubts with the tips below.

Gold prices constantly change so you must know your piece’s value before selling it. If you decide to sell your gold, pieces with different karat values should be weighed and valued separately. Don’t sell jewelry that’s worth more due to maker or designer.

Before you buy gold, be sure you know exactly when it will be delivered to you. To ensure timely delivery request a confirmation on the shipping date. This should include the date the gold will arrive to you buy. Do not finalize your order until you receive written confirmation.

Gold Jewelry

Sometimes the cost of gold causes buyers to go for cheaper imitation jewelry instead. You can acquire gold jewelry from a number of sources at a reasonable price. You can buy gold jewelry more cheaply in pawn shops or online.

Scrap gold is an excellent investment if you are working with limited investment money. This can be done bit by bit. For example, you might invest a bit each payday to amass an impressive collection of gold as time passes. Protect your gold until you can sell it.

Before selling your old and broken gold items for cash, make it a point to visit at least 3 or 4 buyers. You cannot count on these stores to pay the national standard of the day. Some stores outside of busy urban areas do not have to pay as much on rents as stores located in a shopping mall and will offer a better price.

If you plan to mail your jewelry, be sure that you find out how much the return postage will cost if the price offered you is too low. A lot of companies say they offer free shipping, but if you refuse their offer they charge a great deal. Know what you’re up against before you mail anything away.

Sell only to gold buyers who are licensed. Licensure is not a guarantee of credibility, but it is certainly a good indicator. There are plenty of buyers for gold, so do not think that you must make a sale to the first buyer that you meet.

Use a magnet to determine if an item is made of gold. Precious metals do not respond to magnets. There may be times when an item of jewelry has a solid gold clasp, but the rest of the item is only gold plated. A magnet can help test jewelry quickly.

Fine Print

Read the fine print of your sales contract. If you use any of the abundant mail-in gold buyers, study the fine print carefully before making the sale. This way, you will know the exact amount of the fees and commissions you will be paying.

One option when selling your gold is to send it away in the mail. Many people prefer this option because it is really easy. You get a mailer that is prepaid, place jewelry inside and send it, and you get a check. Remember that these places usually do not pay as much as other places for gold. You can lose as much as a third of the value.

When you are negotiating with someone dealing in gold, read all the forms that are given to you. Gold buying and selling is serious business, not a game. Be aware of what you’re signing. Move on if their terms don’t meet your needs. It pays to watch out for yourself in this way.

Lately, gold has really boomed, mainly because of the state of the economy. Knowing how to buy and sell gold like a pro is a good way to leverage the gold market for your personal goals. Take the tips above to heart, and see what you can do with the information to improve your own circumstances.