Anyone who has been paying attention in recent years knows that gold markets have been the recipients of immense amounts of new interest from investors of all types. Doing well in the gold market requires lots of insight and knowledge from successful industry professionals. Keep on reading to get your gold journey underway.
Stick with a reputable buyer when selling your gold. You can find out if they’re trustworthy by looking at the BBB reviews. A legitimate buyer will pay you fairly for your gold while giving you great customer service. Protect your gold investment and yourself.
Before buying or selling gold, know how precious metal prices work. The prices for precious metals go up and down from one day to the next. Therefore you must find the price on the exact day before you agree to do business with someone. Gold pieces with fractions of an ounce will command higher prices than pieces weighing one ounce.
Look online for the most reputable gold buyer you can find. You want to determine how the business treats its customers and whether there are outstanding complaints against it. Check for offers through different buyers to make sure you get the best price for your gold.
Be aware of the going rate of gold before you sell you gold items. Gold dealers cannot scam you out of money when you are informed about the value of your items. Dealers will charge you a premium on top of market value so they can make some money too.
If you’ve been thinking about selling your gold to a mail-in company, take the time to read over their fine print before getting involved with them. You should find out how long the process takes, and get package tracking and insurance on your package, too. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.
Scrap Gold
Don’t have much money? Invest in scrap gold. You can accumulate scrap gold as you can afford it and have a pretty nifty next egg in a few years. Keep it inside a safe location until you get enough to cash in.
Get your jewelry appraised. This can cost you a little initially, but you want to know right? Make sure that you get a truly realistic value from an appraiser that is accredited. If you do want to sell the gold, understand you won’t be offered full value it was appraised for.
When considering selling your gold jewelry, you need to figure out if you want to get melt value or sell it as jewelry. Most pawn shops and gold buyers will purchase your gold jewelry for melt value. Don’t get discouraged since there’s a buyer out there that wants your pieces.
If you don’t want to worry about storing, shipping and insuring your gold, consider buying GoldMoney instead. It is almost like opening a bank account for gold. You simply establish your account, deposit funds and receive an assignment of gold that fits the value of your account. The gold will physically sit in the bank where you can cash it, portion it, or in some circumstances, you can redeem it for gold bullion bars that weigh a kilo.
Avoid letting people know that you are planning to sell your gold. You never know who else could be listening or who you can really trust. Keep it to yourself and protected, either with a decent home safe or in a bank. That way, your gold will always be secure.
You should know that people are excited about gold all of the time because it’s something that just keeps going up in value it seems. Maybe you are one of those who would like to gain more knowledge. Use the information above to help you buy and sell gold.