Any serious investor needs to have a portion of their total investment portfolio in commodities. Gold is historically the top trading commodity. If you are planing for your retirement or simply want to generate some investment profits, this piece is for you.
Bullion is the best choice if investing in gold. The weights vary. The bullion bars come in half ounce bars and increase up to large bars weighing 400 ounces. The smaller bars are more common, while the larger ones are harder to find.
When you buy some gold jewelry for another person, make sure they have a refund policy. People’s preferences in jewelry are different, and the piece might not fit the person. This is a huge problem.
If you’re going to ship your jewelry to a mail-order buyer, know how much return shipping is going to cost you in the event you don’t accept their offer. Many companies will pay for your postage when you send but charge a high price when they return the piece to you. Find out how much you will have to spend in order to get your gold back if you decide not to sell it for the price offered.
GoldMoney can be a good resource when buying gold. It’s like opening a bank account which trades in gold. With this service the money in your account is converted into gold. The gold is in a vault being protected, but you can sell it or even have a bullion bar shipped to you.
Many times the backs of earrings are solid gold, even if the earring itself is not solid. Necklace clasps and ring bands often are too. Those odd pieces should be sold as one lot, as they weigh so little on their own. Selling in quantity increases your profit.
If you are selling gold pieces you own, keep pieces of different karats separated. Keep an eye on the gold buyer because they may try and deceive you. A common trick is to weigh everything together and then give you the price for the karat that is the lowest weight. This will cheat you out of money. Instead you should go in with pre-separated piles to make the biggest return.
You can sell gold by mailing it to a buyer. This does not involve posting any advertisements or going into different shops. The company will send a bag for your jewelry and once they receive it back in the mail, they will send you a check. However, you have to remember that you’re not going to get the most from your gold this way. Sometimes, you get paid 30 percent less, so you should be aware of that.
Before you buy gold, find out something about the dealer. To help ensure you are buying from a reputable dealer, contact your Better Business Bureau. You can phone the BBB or visit their website to see if any customers have filed any complaints against a company for not-so-great business practices. If complaints have been filed, use another dealer.
To make sure you’re getting a good deal and protecting your security, research your gold buyer prior to selling. If you’re selling your gold through the mail, this is even more important. Check the BBB’s website to see if there have been any complaints lodged against any company that you’re thinking of using.
Ask relative for broken jewelry that they no longer want. Get a quality jewelry scale, measure the weight of your gold and it will be possible for you to offer a better price than a pawn shop while still making a profit.
With the knowledge gained from this piece you should have a new perspective on gold investments. Put these tips to use for your own portfolio, or to gain extra money. Remember this information to find success with buying or selling gold.