If you want to use gold in your investment portfolio, then it’s important that you learn how to do that safely. There are a lot of things to master, but it is not rocket science, and nearly anyone can learn about gold. This piece is meant to teach you about gold investment strategies.
Get valuations for your tangible gold from a handful of dealers at a minimum. There are lots of services, jewelry stores and pawn shops that buy gold. Of course, they will want to make a profit when they sell it. When you seek more than one estimate, a fair price is going to be more attainable.
Before going to sell your jewelry, investigate what the current market price of gold is. This can help you discern whether you’re being offered a good price or not. Dealers often assume that people who are trying to sell gold need quick cash and will try to take advantage.
Research any mail-in gold jewelry purchaser before sending your jewelry off to them. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured. Take a snapshot of everything that you send in the mail for security.
If you want to start investing in gold but don’t have much money to get started, think about buying scrap. This can be done over time, maybe some each day so that you can get some valuable gold in about a year. Keep it inside a safe location until you get enough to cash in.
Figure out what return shipping will cost if you don’t like the offer the mail order gold buyers are willing to give you. A lot of companies say they offer free shipping, but if you refuse their offer they charge a great deal. Be sure that you find out ahead of time how much it will cost to get back your jewelry.
While buying gold is extremely exciting, you need to keep it quiet. You cannot put your trust too easily on people. Keep your investment private and secured, preferably in a safe. This keeps your gold hidden and secure, as it is a very valuable investment you want to protect.
A fast, cheap way to test for gold’s authenticity is to use magnets. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. Sometimes, the only thing real about a piece of gold jewelry is the clasp. Using a magnet is an excellent way to find this out.
Make sure to conduct independent research prior to investing any money. There are those who say they’re market gurus and want you to invest with them. Nonetheless, you should be wary of high flung promises of wealth. Don’t overestimate how quickly gold will get you rich.
Know how to test the grade of gold so that you will be sure to get what you are paying for. Karats are the measurement of the purity of gold. Gold’s value by weight increases with its purity, and purer gold receives a higher karat rating. You cannot rely on the stamp with the karat. When you know how to test gold, you’ll ensure that you get good quality.
It is important that you read all of the fine print when buying or selling gold. Gold buyers sometimes charge premium rates in order to resell gold. Think of the logistics involved in mailing heavy packages of gold coins or bars to a dealer in another part of the country. You don’t want to purchase gold only to leave it with the dealer.
If you want to make a gold investment for beauty and value reasons, think about pure gold. Look at it as an investment and a fashion statement. Fine gold jewelry derives its value from its craftsmanship and its gold content, thus making this investment desirable.
Now you know how to invest in gold. This information can help you invest in gold, whatever your strategy. Gold can be a key part of planning for a successful financial future.