Gold is a highly prized metal. Since its discovery in ancient times, humans have treasured gold. Here is some advice on how to get started with gold, whether you’re planning on investing or just looking to buy gold jewelry.
A great way to invest in gold is through bullion bars. They come in varying weights. They can be as small as half an ounce or as large as 400 ounces. For the record, four hundred ounce bars are very difficult to find.
Understand the spot price of gold before selling any. Pieces with differing karat values are worth different amounts, and should be weighed separately for selling. Don’t sell jewelry with a designer name that has a higher worth than straight melt value.
It is crucial that you have a solid idea about how the gold and precious metals market works. With silver, platinum and gold the prices vary wildly throughout the day, and in order to get the correct price you must spot check it on the day before making a purchase. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.
Make sure you research any gold broker you do business with. You want to work with a reputable gold broker. Read online reviews, check with the BBB, and see how the dealers resolve complaints. Soliciting multiple bids will help ensure you get the best price.
Use a magnet if you want a cost-effective way to determine whether or not the precious metal is real. If it is a true precious metal, it will not adhere to the magnet. In some cases, jewelry may have a clasp that is made of gold, but the rest of the jewelry piece is made of plated metal. That’s a great way to make sure.
In many jewelry designs, support pieces like the backs of earrings will be made of solid gold, despite the rest of the piece not being solid. Sometimes rings are only partially gold, and sometimes necklaces just have gold clasps. If you want to sell these, though, you need to get quite a few of them together to make it worth it. You may get more money this way.
You can sell gold by sending it in the mail. It’s an easy and quick way to sell your gold. You simply drop your jewelry items in a prepaid envelope and wait for your check to come in the mail. However, you have to remember that you’re not going to get the most from your gold this way. A seller might offer you as little as 30 percent of the value, so be careful.
Scrutinize any forms that a gold dealer gives you. This is a large money making endeavor with lots of dollars associated with it. You need to know precisely what you are signing. If any of the conditions are not to your liking, try another dealer. This may be necessary to protect yourself from financial disaster.
Now you should know a little more about what gold is worth and how come so many people love it. Gold is lovely to look at and profitable to invest in. Take what you have learned here and use it to start your own investments in gold today.