One of the most sought after metals is gold. Man has treasured gold since it was first discovered thousands of years ago. If you have been considering investing in gold, the following tips will get you off to the right start.
Get a value from a few buyers before selling your goal. Dealer prices vary by store. By getting multiple estimates, you can be certain of getting the best price.
When you buy gold for another, make sure it has a return policy. You need a guarantee on any gold you buy. In those cases, you should return the jewelry for a refund.
Check the price when you are buying gold. Many websites contain this information and it varies every day. Never pay more than 8% premiums on your gold. There are dealers who attempt to charge a higher amount, but they are unethical and simply overcharging.
Buying gold can exciting, but keep that to yourself. Someone around you could be listening in and be untrustworthy. Keep your investments safe and secured in a bank or home safe. This keeps the gold and you safe under various circumstances.
A fast, cheap way to test for gold’s authenticity is to use magnets. Real gold won’t stick to a magnet. In some cases, individual parts of a piece (like the clasp) may be solid gold while other parts are plated. A magnet is an easy way to test.
When at a gold party, talk with the rep about how they make the determination on the karats of the jewelry being sold. Many times the item will have a stamp. Other times, though, there are no outward signs, and therefore representatives rely on other techniques. One method that can be used is the acid test.
Karat Weight
Prior to selling gold, make sure you separate it by karat weight. Some buyers will weigh all your gold at once and offer you what the smallest karat weight is worth. That’ll mean less money for you. Present the buyer with different piles of gold so you can get a good price for your gold.
Before buying gold, know your dealer. To help guarantee that you are selling to a reputable dealer, make a call to your local Better Business Bureau. That way, you can learn about any complaints made about the company. If you find filed complaints, you may want to think about going with a different dealer altogether.
Don’t sell gold just to sell it. Gold prices always go up. Why not wait until you can get a better price? Retaining ownership of gold may be a great benefit in the future.
Know what you want before you invest in gold. Gold can provide a hedge against inflation, but its value can also be very volatile. Setting the right limits and also the right goals will have you faring better in the gold market.
You should now have a better idea of why gold has always been so highly prized. Gold is lovely to look at and profitable to invest in. Use these tips to invest in a gold collection today.