If you are a serious investor, you must be sure to diversify your investment portfolio. With that in mind, nothing beats gold. This article will help if you are interested in having extra money for retirement from gold or any other reason.
Get valuations for your tangible gold from a handful of dealers at a minimum. Gold buyers and jewelry stores are out to make a profit, so they’ll all pay less than the actual value of the gold you’re selling. Getting multiple estimates helps you get a fairer price on your gold when selling it.
Gold is something that changes in price all the time. This is why you should know what it’s worth prior to selling. If you choose to sell gold, weigh and value pieces that have different karat values separately. Avoid selling jewelry that is worth more because of the designer or maker.
Prior to purchasing a gold item from a seller, you must be certain you have a firm delivery agreement. When dealing with a vendor, it pays to seek written confirmation of the expected delivery date. This is crucial if they do not offer the option to deliver immediately. You should be provided with the estimated date of delivery. Complete your order only when given this information.
Check the return policy before you buy anyone a gift of gold. You can’t be sure of another person’s preferences; they may not care for it. It is always best to have the value appraised before you accept an offer.
Don’t avoid searching antique shops or thrift stores for gold. If you you’re aware of what to look for, you can find some great bargains. A lot of people give these items to thrift shops or antique markets because they aren’t aware of their true value. If you know what you’re doing, you can make the money they did not.
Get a good grasp on what you own. Even if something looks similar to gold, it may not have the same value. A lot of times, metals are combined with gold to make the piece stronger. This can make the price a lot lower. Items that are just plated in gold can also be affected. If you don’t know what you have, have it appraised before trying to sell it.
If you attend a gold party, you want to ask the representative how the value of the jewelry is determined exactly. Many items are stamped. However, if there are no visual indications, there are other ways to determine purity. Acid testing is a very simple method, so if a representative is using this, they might be new.
Earring backs are often solid gold when the earring isn’t. Necklace clasps and ring bands are usually real as well. You can often sell these smaller pieces together to get more money. Selling lightweight gold in a lot will increase your chances of selling them.
Karat Weight
Sort your gold by how many karats it is. When you get into the weighing process during the sale, the vendor may try and trick you by weighing everything together at the lowest karat weight. This will result in you receiving less money. Instead, separate each karat weight before going to the dealer.
Find a gold buyer that lets you send them your gold. Lots of sellers like this because it’s convenient. A prepaid envelope comes to you; you place your jewelry inside and send it back to the company. However, you have to remember that you’re not going to get the most from your gold this way. Sometimes, you can obtain 30% less for the item, so be careful.
When you are negotiating with someone dealing in gold, read all the forms that are given to you. Gold dealers have to protect their investment. You need to completely understand the contract you are signing. If the terms are unacceptable, get ready to keep looking. It will pay off to know you have financial protection.
Since looking at the piece above, you know more about the gold market. Apply the tips you’ve just been given. If you want to find success, use this article as your springboard.