If you are an experienced investor, you probably recognize the value in commodities. Gold is the most valuable commodity available. Gold can help you out if you just want to make some quick money or if you’re saving for your retirement.
Read reviews and do your research before choosing a dealer to buy your gold. You can always find online reviews, inquire with the BBB and learn how each vendor handles complaints. When you get bids from multiple buyers, you may be able to get top value for the gold.
Only buy gold jewelry if you can return it. People’s tastes are different and you don’t know the whether the person will like what you buy. If that happens, you want to be able to send the jewelry back and get your money back as well.
Melt Value
If you are looking to sell gold, the first thing you need to figure out is if you’re going to offer it up as an entire jewelry piece, or seek the melt value. Private sellers and pawn shops tend to only pay for melt value. Don’t get discouraged since there’s a buyer out there that wants your pieces.
If you are sending your jewelry off in the mail, make sure you investigate how much it will cost you to have the pieces sent back to you if you don’t like the offer. The majority of companies pay for you to send the jewelry to them, but they charge high fees to return it to you. Be sure you have an idea how much it will cost you to reclaim your items.
Don’t let others know you invest in physical gold. Someone around you could be listening in and be untrustworthy. Lock your investment up in a safe at home or at a bank and don’t let anyone else know. This will keep you and your gold protected under any circumstances.
Use a magnet to test inexpensive jewelry to determine if it consists of steel. Gold is not magnetic. Many times you see the clasp gold plated but not the rest of the piece. You can test your jewelry this way.
Earring backs are often solid gold when the earring isn’t. In many cases ring bands and the clasps of necklaces are real gold too. The weight is low, so sell these items together. The more you have, the more they will weigh.
If you’re thinking of selling your old gold jewelry and scraps to a gold-buying business, it’s crucial that you check their reputation on the Better Business Bureau’s website first. You can find out about certain businesses and experiences so that you can move forward from there. Pay attention to complaints and see if they’ve been resolved. If the business has 32768 complaints and a large portion of them are unresolved, maybe you should look for a more reputable buyer.
Sort your gold by how many karats it is. If the vendor weighs all of your items together, you will not get a fair price for your higher karat items. That’ll mean less money for you. Have everything organized to maximize the amount of money you get.
Having read this article in full, you now know a thing or two you previously didn’t. Build a strong portfolio and wait for the right moment to sell your gold. Remember this information to find success with buying or selling gold.