If you’d like to use gold for your portfolio, you need to learn how. It isn’t just buying some bullion and crossing your fingers; having the right information will help. Read this article to gain some knowledge about gold investments.
Gold bullion bars are great investments. The weights will vary. They can be found in sizes as small as a half-ounce or as large as four hundred ounce bars. A heavier bar may be more difficult to find, however.
Sell Gold
Why not make money selling your gold to online buyers? It is now easy to sell gold without having a physical store location. It is possible to utilize a website to sell gold items. They’ll mail you a kit which you use to send them the gold. If everything is together, you’ll get paid their going rate.
When you are selling gold, you need to decide whether you want to sell it as a piece of jewelry, or for the melt value. Private sellers and pawn shops just want the melt value. It may take longer to find the right buyer, but you will get more money this way.
Don’t brag about your gold purchases, no matter how excited you are. You don’t know who could try to keep tabs on this, and you don’t want to have to worry about trusting people. Play your cards close to your chest and keep your gold in a home safe or a safety deposit box at your bank. This ensures that you retain your gold and that it is safe regardless of the circumstances.
You can use a magnet to determine the authenticity of gold. Precious metals do not respond to magnets. Sometimes, the only thing real about a piece of gold jewelry is the clasp. This is a smart idea to test it this way.
Many times earring posts are made of solid gold, even when the actual earring is not solid. Necklace clasps and ring bands often are too. These pieces don’t weigh much, so try selling them all as a “lot.” This just pulls together a number of gold pieces as a quantity, which might help you make a little more money.
Look at the BBB before selling gold to jewelers, dealers, gold buyers, and the like. You may find complaints that have been listed by the customers who feel slighted. Pay special attention to any complaints and if they were resolved or not. If you see that there are a lot of unresolved complaints, you may want to go with someone else.
Research a gold dealer before doing business. Check with the Better Business Bureau to verify the reputation of a dealer. By contacting the BBB, you can see if they have any complaints against them. Upon learning of numerous complaints, it’s best to look elsewhere for services.
Karat Value
Be sure to divide your gold holdings by karat value when selling. Don’t allow all of your gold items to be weighed together or you will not get the true karat value. The higher the karat value, the higher the value of your gold.
Ask people you know for their broken jewelry. Purchase a quality jewelry scale on which to weigh the gold. This allows you to compensate your relatives better than a pawnshop while still earning money on the deal.
Now take these tips about gold investing and apply your new found knowledge. Use them whether you are on the buying or selling end of a gold deal. Learn more by experience. Gold will be a valuable part of your investment strategy for your future.