Gold is a relatively safe way to invest your money. Perhaps you’ve been curious about it yourself, but haven’t been sure how to get started with it. If so, this is the place you need to be. The piece that follows is full of useful tips on gold investing.
When you sell gold, deal with a reliable buyer. You are able to find out more about their reputations with the local BBB and through online reviews. A good buyer is going to give you a good price, and will provide you with superior customer service too. You should do this to better protect your gold investment and yourself.
Make sure to research prospective buyers in advance in order to find a reputable one. Look at the BBB website online for ratings, reviews, complaints and more. Shop around to get the best price for your gold.
Arrange for delivery of your gold at the time of purchase. If your seller can’t commit to immediate delivery, get the delivery date in writing. Make sure that a specific date is listed within this writing. Complete your order only when given this information.
Fully research any buyer that you’re considering sending jewelry to through the mail. Be sure you find out when you will receive payment, and buy insurance for your package, too. The final step is to take photos of your jewelry, just to be sure you can fight any future problems that may occur.
If you buy gold for your retirement fund, be sure it’s the proper kind. The IRS must give its approval for your investment. You want to make sure you buy 24 karat coins or bullion bars. Over time, gold bars appreciate better than gold coins.
There are many unexpected places to find gold, including thrift stores and antique shops. If you know what you are looking for, there are bargains to be found in such places. Many people do not realize what they have and sell it or donate it to these shops. You can take advantage of this if you just know what to look for.
Make sure you are know exactly what you have. Not all that looks as if it’s real gold is as valuable as the real thing. Many times, gold is mixed with other metals to increase its strength. This will lower the price. Many items are only gold plated. If you don’t know exactly what you have, consider an appraisal.
Use a magnet to test inexpensive jewelry to determine if it consists of steel. Gold is not magnetic. Often the clasp of a piece is real gold, while the rest of the piece is just plated. A magnet is a good tool for discovering fake gold.
You do not have to physically own gold to invest in it. Buying gold-focused mutual funds and stock in companies that mine gold are other options for investing in gold. You should always consider the costs to store gold.
Before you buy gold, know the dealer. Speak with the BBB in your area to be sure the dealer is reputable. By contacting your Better Business Bureau, you can find out if there are any complaints filed against your dealer. If complaints are filed, look for a different dealer.
Never sell your gold simply to sell it. Gold prices keep going up, and it’s high right now; however it might go up even more. Keep your gold as long as possible for the greatest earning potential.
You don’t have to be a seasoned investor to invest in gold. After reading the tips in this article, you can rest assured that you will make wise decisions. Keep these great ideas in mind as you go.