Anyone following the gold market is aware of the new interest stemming from investors from all walks of life. To do well in the gold market you must first get yourself educated from the experts. Read on to get started with gold trading.
Look for a gold buyer that has a good reputation. Look for online reviews and check the BBB website for complaints and resolutions. Talk to several different buyers and get quotes from all of them to ensure you get the best price for your items.
While you may be very tempted to quickly send off your old gold scraps and jewelry to a business that buys gold through the mail, do your homework about the company first. Insure your shipment, and get a solid confirmation of when you can expect to be paid. Take a photo of all the items you are sending so there will be no questions later.
Look into buying scrap gold if you can’t afford to get into the bigger market. This is easy to do over time, and can lead to an accumulation of real value in the span of a year or two. Keep the gold somewhere secure until you’re ready to sell it.
When buying gold jewelry for another, make sure you can return it. It is impossible to tell if a jewelry item will be well liked or suitable. If this happens, you need to return it for a complete refund.
Check the price when you are buying gold. Many websites update this information daily. Never buy something listed at more than ten percent of the spot price. While many companies attempt to charge more, this is simply not ethical and should be viewed with caution.
If you are shipping jewelry, be certain you find out how much it’s going to cost to get your pieces back if you fail to accept their offer. Shipping to them is free, but the cost to get your pieces back is often massive. You want to know what those charges might end up being before you decide to send them your gold.
If you go to a gold party, talk to the person who organizes it to figure out how they calculate the value of the gold sold. In many cases, items are stamped. There are ways to determine a piece’s purity if no stamp is present. One method that can be used is the acid test.
Be sure you know what everything in your sales contract says. You should carefully read the whole contract especially if selling through a mail service. That way, you will be aware of the cut of your proceeds that will go to fees and commissions.
Many times the backs of earrings are solid gold, even if the earring itself is not solid. Ring bands, clasps on necklaces, and other easy-to-overlook bits of jewelry also often have significant gold content. They don’t weigh too much so you may want to sell them all together. This just pulls together a number of gold pieces as a quantity, which might help you make a little more money.
The economy failed us, so now gold is there to help us invest safely. Maybe you’re one of those who has been interested in learning more. By using the guidance in this piece, you can truly succeed.