Gold is a treasured commodity and is universally valued, and has been since its discovery centuries ago. Everyone loves gold but not everyone knows the best ways to acquire it. If you’re looking to invest significantly in gold, the following advice can help you get the best value for your money when you buy or sell this precious metal.
The price of gold changes often, so you need to know the value of your gold before attempting to sell it. If you are selling gold, sort it by karat so that it can be valued separately. Avoid selling any jewelry that’s worth is dependent on the designer.
Always use a reputable company when selling gold. Use both Internet reviews and BBB complaints and information to discern someone’s reputation. A good buyer is going to give you a good price, and will provide you with superior customer service too. This can help you to be protected when dealing with gold.
Gold Jewelry
The high price of gold may give you the idea that gold-filled or gold-plated jewelry is better. You can still buy gold jewelry without spending a fortune at a store. It is easy to get great deals on gold jewelry from online retailers or pawn shops.
If you want to send jewelry to a gold company via mail, check them and their conditions out carefully before going to your post office. Understand when you will be paid and how you can insure the mailer. Lastly, take a photo of all that you placed in the package in case there’s an issue later.
When selling jewelry, it is important to decide whether it will be sold as jewelry or as gold. You will only get melt value at pawn shops or with most private buyers. Don’t get discouraged since there’s a buyer out there that wants your pieces.
It’s always a good idea to verify the spot price before making a purchase the same day. This information is available on a number of websites. When you buy, don’t pay over 8% markup over the price. If you find a dealer asking for more than 8%, they’re overcharging and may not be ethical.
Try a site like GoldMoney to purchase gold. It is kind of like setting up a gold “bank account.” With this service the money in your account is converted into gold. You can redeem the gold bullion in one-kilo bars or leave it in the vault and trade it or cash it in.
Don’t discount the value of looking for gold in vintage or antique stores. If you are aware of what to search for, you can find bargains in these places. Many people do not realize what they have and sell it or donate it to these shops. You stand to gain a great deal if you come armed with a bit of research.
When you’re selling your gold, you have to do the proper research. Also, ask around to find out how much similar pieces are going for. This will help you figure out a good price point. Ask a bit more than you want so you can negotiate with the buyer or seller.
Make sure to conduct independent research prior to investing any money. Lots of folks claim to be experts and want to get their hands on your money. However, you need to be very careful when it comes to promises about making you rich. Avoid such talk and thoughts so you can avoid unrealistic expectations of what gold can do for you.
Go over the fine print of the contract offered by your buyer. If you want to sell gold to mail-in gold buyers, read the small print carefully before you sell. In this way you can determine what percentage of your profits will go toward fees and commissions.
As is plain to see, gold is very valuable and can be traded very easily. Investing in gold helps you make money over the long term. Since you know much more about gold now, get going with some gold investments today.