It is vital to invest in gold when the economy is in a downward spiral. Want to seize the opportunity for yourself? Keep reading for more helpful advice.
Gold prices change quickly and often, so know the current value before you attempt to sell any. If you sell gold, pieces that have various karat values need to be valued and weighted individually. Remember that jewelry will sell at its melt value, not the price the jeweler wants for it.
If you are thinking about selling some of your gold jewelry, know what the going market price for gold is. That way you will be able to ascertain if a dealer is providing you with a fair price or not for your pieces. Dealers will charge you a premium on top of market value so they can make some money too.
If you are interested in trying gold as a commodity, but you are short on capital for investment, start out with buying scrap. This can be done bit by bit. For example, you might invest a bit each payday to amass an impressive collection of gold as time passes. Store it in a safe hiding spot until you have accumulated enough to cash in.
Check the return policy before you buy anyone a gift of gold. You need a guarantee on any gold you buy. If that should occur, it is important you can return the piece for a full refund.
If you will be selling your gold, shop around for best prices. While spot pricing is the national standard, most stores don’t honor it. Stores which are not centrally located may be able to give you a better price.
Before selling you gold through the mail, be sure you know what the procedure is for getting your items back and any costs involved in doing so. A lot of companies say they’ll let you ship for free, but to get things back they charge quite a bit. Make sure you know in advance what you might have to pay to get your jewelry back.
Don’t sell to entities that are not licensed by the state to buy gold. You have a greater likelihood of dealing with a reputable trader if you look for this certification. There are many people who will buy your gold, but some are out to rip you off.
Be fully aware of what you have. Not everything is worth what you think it’s worth. It’s not uncommon to find gold that has been mixed in with other, lesser metals. This will lower it’s worth. Items can also be plated with gold. If you are unsure of what you have, you may want to get it appraised prior to going to sell it.
Before you sell a piece of jewelry for scrap, have the piece appraised first. This is true for pieces made with fine craftsmanship. Knowing the true value of a piece can make it well worth the cost of appraisal. They may even give you a reference to a buyer.
Check with the BBB before you sell gold to a dealer, jewelry store, gold buyer, etc. This agency can give you a good indication of whether the business you are dealing with is on the up and up. Heed any complaints to see if the company resolved them or not. If there are many unresolved complaints, or a huge number of overall complaints, think about giving your business to someone else.
When you go to sell your gold have it separated into how much each karat weight. Weighing the items separately ensures you get the true value its worth, but some sellers won’t do this. That will result in a lower payout for you. The way around this is to present the gold to the buyer pre-separated so that you get fair market value for each piece.
Gold jewelry should be separated into different groups based on its karat value before you sell it. The karats determine the value and you may not get what you’re entitled to when you cash in your gold. Your gold means more at a higher karat.
Almost everyone understands what gold can do for those interested in securing personal wealth. When the economy is bad, gold is more valuable. Hopefully, the guidance above has given you the resources you need to get great results.