People are attracted to gold but not many know a lot about it. That little amount of knowledge makes it tough for many to take full advantage of gold as an investment. If you aren’t that gold savvy, you can use the following tips.
Stay with reputable buyers when you sell your gold. Their reputation can be verified though online sources, as well as the BBB. A good buyer will treat you well and offer a fair price on your jewelry. Do this to protect yourself and your gold investment.
If you’re thinking of mailing off some jewelry to someone, you need to be sure you do your research first. You should find out how long the process takes, and get package tracking and insurance on your package, too. Lastly, take a photo of all that you placed in the package in case there’s an issue later.
Try using something like GoldMoney for buying gold. This service is similar to a bank account that holds deposits in bullion rather than currency. You create an account and fund it; then your account is given some gold at the market price. You can redeem the gold bullion in one-kilo bars or leave it in the vault and trade it or cash it in.
While gold buying can be fun, don’t tell everyone about it. You don’t know who could try to keep tabs on this, and you don’t want to have to worry about trusting people. Keep your investments safe and secured in a bank or home safe. This protects you as well as your gold.
Don’t avoid searching antique shops or thrift stores for gold. You can find bargains in these places. A lot of people give these items to thrift shops or antique markets because they aren’t aware of their true value. You can take advantage of this if you just know what to look for.
If you’re at a gold party you should speak with the person in charge so you can figure out what karats are in the jewelry. Many times the item will have a stamp. However, there are some times when there aren’t visible signs, so the reps have ways to determine it. A representative using acid tests is a sign of a less-experienced gold agent, as this kind of test is not one of the more surefire methods for karat determination.
Do not sign anything from a gold dealer without fully understanding what it implies. A lot of money is exchanged in this business. You must be fully aware of what you are committing to. If you do not agree with the term, go to another dealer. You must protect your finances at all costs.
Before you buy gold, find out something about the dealer. To ensure your dealer is reputable, check with the Better Business Bureau. Doing this will help you find any complaints lodged against the dealer. If you find several complaints, look elsewhere for a gold dealer.
As this article said in the beginning, no matter what people think of gold, they rarely know much about it. You should know more than you did to start. Use the above tips to make smarter gold decisions.