With so much financial turmoil, many investors are buying gold in an effort to protect their personal wealth. However, you have to be sure you know everything about gold before getting into it, and that’s a hard task at first. Continue reading to learn valuable information about purchasing and selling gold.
When you sell gold, deal with a reliable buyer. Contact your local Better Business Bureau to see if there have been complaints filed against a gold dealer. A reputable buyer will typically pay you a fair price for your gold, and they will offer better customer service than less reputable buyers. Protect your gold investment and yourself.
Conduct extensive research before you do business with a company specializing in gold. Read online reviews, check with the BBB, and see how the dealers resolve complaints. By getting bids from several different gold buyers, you will be more likely to get top dollar for your gold.
You should always ask for timely delivery when purchasing some gold from a reliable seller. If your seller doesn’t offer delivery immediately, you need written confirmation of when to expect your items. You should have the date of delivery clearly listed. Do not complete your order without this important information.
Look at the spot price of gold before selling. This way, you’ll know whether you’re really being offered a fair price. The majority of dealers will offer you market value for your gold, but some know that sellers just want to convert their items into cash quickly, and they take advantage of the buyers.
If you plan to mail your gold jewelry to a firm, do some research on them and their policies before you do so. Be sure you figure out when you’ll get sent a payment, and be sure things are insured too. Take a photo of what you mail to battle against disputes down the road.
Think about having your jewelry appraised if you are not sure of it’s true value. Paying a professional to appraise your item is a good investment. Look for an independent appraiser who is properly accredited if you want the most accurate value. Even if you still choose to sell, do know that you aren’t going to get the appraised value.
You can get varying prices depending on how you sell it. The quickest way to sell off gold (and the one many dealers and pawnbrokers prefer) is for the melt value. Don’t get discouraged since there’s a buyer out there that wants your pieces.
Make sure you’re only selling to someone who has a license to purchase gold. This does not prevent you from getting scammed, but a licensed buyer probably has a better reputation. There are plenty of buyers for gold, so do not think that you must make a sale to the first buyer that you meet.
When attempting to sell your gold, you want to do your research into the market price. Look around to understand what people are asking for similar pieces. This will allow you to have a price in mind you can work with. Always start a little higher that what you are actually hoping to get, so you have room to negotiate.
Take your time when you are considering dealing with a gold buyer. You might be amazed by the variety of offers received. If you choose to sell to the first buyer, you might get a bad deal. Taking your time can really end up getting you the best deal out there.
Be sure to check the credentials of all gold buyers, jewelry stores and dealers with the Better Business Bureau. You can usually find out about complaints and customer reviews. The key thing to look for is how complaints against the business were resolved. If you see lots of complaints that have gone unresolved, think about moving on.
Gold has long been used as a form of insurance to protect wealth. To use gold to your favor, you need to have a well rounded education about gold. Armed with the information presented here, you are ready to make some smart choices in the gold trade.