Many gold investors do so as a means of having a safe or conservative investment in their overall portfolio. It is generally thought that gold is a good investment in times of economic turmoil. Continue reading to learn how you can protect and grow your wealth using gold.
Make sure that you get a quality estimate from a reputable source before selling your gold. A lot of services and jewelry stores are out there, and they will usually vary in how much they profit. Getting estimates from several establishments will help you make sure that you receive a fair price.
Prior to doing anything with gold, be it buying or selling, you must become knowledgeable about how pricing operates. Precious metal prices can fluctuate a lot, so check the markets daily, especially when making a transaction. Gold pieces with fractions of an ounce will command higher prices than pieces weighing one ounce.
It is possible to sell gold online. Gold dealing doesn’t require physical stores anymore. Many websites want to buy gold from you. Such sites will send kits in which you mail back your gold. They will pay you their standard per ounce price for your gold.
Delivery Date
Always make delivery arrangements before purchasing gold from a vendor. Delivery times are important. If a seller gives you anything other than immediate delivery, you need to have some kind of written contract or guarantee when your pieces are arriving. Their expected delivery date should be indicated. Don’t go through with the order if they can’t provide you with the delivery date in writing.
Take your old gold that you want to sell to a number of different gold-buying companies before settling on one. While many stores state they pay the standard price for gold, there are a number of them that do not. You might get a better deal at a store not in a major shopping mall, since their overhead and rent is lower.
Research the market price of gold before you attempt to sell yours. You should also look around to see what other people are asking for similar pieces. This gives you an idea of what you should get. Always ask for a bit more than you really want in order to allow for negotiation.
Shop around before you decide which gold buyer you will use. It might come as a surprise and you never what kind offers are out there! If you stick with your first buyer, you could get a terrible deal. Take a little bit more time at first so you’ve got the maximum return on your gold investment.
Talk to a gold representative to learn how they test gold for purity. Quite often, the gold will be stamped. Other times, though, there are no outward signs, and therefore representatives rely on other techniques. If a buyer uses acid testing, it’s an indication they are a newer business.
Appraise jewelry before scrapping it. You definitely want to have jewelry with beautiful details and crafting well looked over because the value could be much higher. The appraisal isn’t free, but it can boost your selling price. In addition, appraisers may know people who may be interested in your jewelery.
Prior to selling your gold to a buyer, jeweler or dealer, check them out on the BBB. Here, you will find information regarding the business, as well complaints and reviews from people who’ve dealt with them before. Look carefully at complaints and whether they were solved or not. If you see that there are a lot of unresolved complaints, you may want to go with someone else.
Prior to selling gold, make sure you separate it by karat weight. You don’t want everything thrown together in one pile, because it will all be weighed as if it is the same karat. That will result in a lower payout for you. Rather, approach the vendor with separated piles in order to maximize your profit.
You can easily invest in gold if you do your research first. Having read these tips, you can now go forth and invest successfully in gold. Use what you have learned here to maximize your investment.