Tag Archives: melt value

Wise Tips For Getting Into The Gold Market

Because people don’t know how the economy is going to do in the future, they like to get into gold because it’s safe. But, even experienced investors can be confused about the gold market. Continue on into the following paragraphs to learn a few useful things about dealing with gold.

If you are selling gold then shop around to get an idea of what its true value is from different companies. Several gold-buying services and jewelry stores get different profits for the gold they buy. By shopping around, you will get a better idea of what the gold you are selling is really worth.

Only sell to reputable buyers. Check reputations at the BBB and via online reviews. A legit buyer will offer a fair amount for the gold you have. This can help you to be protected when dealing with gold.

Before you purchase a gold piece, know when it is going to be delivered. If the person selling you the gold does not deliver the product right away, it is necessary for you to obtain a written estimate of when your items should arrive. The date of arrival should be something you can see listed. Proceed with an order only if this information is forthcoming.

Check the current price in the gold market before you sell your jewelry. That way, you will know if you are being offered a fair price for the items you have. Most dealers will make you a fair offer, but some will try and rip you off.

If you have no idea what your gold might be worth, than an appraisal is a good idea. The small investment required will ensure you get what your jewelry is worth. And make sure you only hire an independent and accredited appraiser to be sure you get an honest appraisal. However, do not expect to receive the exact amount suggested by the appraisal when you sell the gold.

Melt Value

When considering selling your gold jewelry, you need to figure out if you want to get melt value or sell it as jewelry. Usually, you will only get the melt value from both private sellers and pawn shops. Try not to be discouraged. Sooner or later you will discover the purchaser you are seeking.

No matter the excitement gold buying brings, do not spread the word. You can’t be sure who’s listening or who is trustworthy. Make sure that your investment is kept private and kept safe. These methods provide you with safety and security.

Research the daily spot price before you sell your gold. You should shop around to get an idea of what others are offering for similar gold pieces. This will give you a price point to work with. In order to be able to negotiate, you ought to give a price above the amount you really want.

Always read small print in sales contracts. If you use any of the abundant mail-in gold buyers, study the fine print carefully before making the sale. You can then ascertain the amount of fees and commissions you will be charged.

As you can see, gold plays an important role in the world. Being informed can help you to make wise investments. Armed with the information presented here, you are ready to make some smart choices in the gold trade.

Tips For Making Money By Investing In Gold

Gold has been a central part of global finance for many centuries. Are you interested in learning more when it comes to gold investing in order to safeguard your personal fortune? You need to consider a laundry list of things, whether purchasing gold or buying shares in mining firms. Keep reading to learn some tips that will help you when it comes to gold.

Get an estimate from several buyers before selling your gold. Several gold-buying services and jewelry stores get different profits for the gold they buy. You can be certain you’re getting the best deal by shopping around.

Stay with reputable firms when selling gold. Check with the BBB and look at reviews online before you sell your gold to a buyer. 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.

Research several gold buyers and compare them to obtain the best price for your gold. You can look at online reviews, check at the consumer protection organizations or read on message boards about complaints. Ensure you receive the maximum amount for your gold by shopping around.

You can sell gold online. There’s no reason to confine yourself to brick-and-mortar stores when selling your gold. Just visit a reliable website that will buy your gold. You can get a kit to send your gold to these websites for money. They end up paying you once they receive it, but they usually won’t pay you a lot.

You should always ask for timely delivery when purchasing some gold from a reliable seller. If the person selling you the gold does not deliver the product right away, it is necessary for you to obtain a written estimate of when your items should arrive. A date should be spelled on this piece of paper. Complete your order only when given this information.

Only buy gold jewelry if you can return it. There are time where you may have to return the jewelry. If that happens then you’re going to want to return it and get your money back.

Melt Value

Is it better to sell your gold jewelry for melt value or as jewelry? Private sellers and pawn shops tend to only pay for melt value. Don’t give up; eventually, the right buyer will come your way.

Find out if the firm you are mailing your gold to will ship it back, and how much that will cost. A lot of buyers offer free shipping but will charge you a lot to send the item back. Make sure you know in advance what you might have to pay to get your jewelry back.

Always do your homework before investing. There are many scammers in the gold market. Many people would like to take advantage of your lack of knowledge on gold. Research gold and gold companies before trading.

There are many different companies that you can mail your gold into. 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. You must know that you might not get the best price for your gold handling your business this way. In a few cases you might get 30% less for a piece, so know that.

Never sell gold without a purpose! Gold usually increases in value, so it is something you should keep around for a while. If you can hold onto your gold, it may benefit you more in the future.

Test Gold

If you want to be an intelligent gold investor, learn to test gold for its grade. The purity of golds is measured by karats. The higher the karats, the more pure and the more expensive it is per ounce. Don’t just believe the karat value expressed by the karat stamp. Understanding how you can test gold’s purity will help ensure you never overpay.

You probably are amazed how much goes into buying and selling gold now that you’ve read the last few paragraphs. Bear these tips in mind as you find yourself faced with important decisions. Use the advice that has been provided so you can invest in gold with confidence.

Make Money In Gold With These Nuggets Of Knowledge

Gold is something everyone’s curious about but not everyone is knowledgeable on. This means that many people don’t know about the financial advantages of gold investing. If you are like so many people, continue reading to find the best tips on how you can benefit from gold.

When you sell gold, get an idea of value from a number of sources. Different places that buy gold will have different price ranges to offer. By getting multiple estimates, you can be assured that you will get a fair price when you sell.

Before you get into investing or selling gold, it’s best to understand how it works. Prices of precious metals fluctuate everyday, so pick a day to check on the spot price before you buy or sell. You must be prepared to pay higher percentages over the melt values for fractional gold pieces like 1/10, 1/4th, and 1/2 ounces versus one-ounce pieces.

Read reviews and do your research before choosing a dealer to buy your gold. Read online reviews, check with the BBB, and see how the dealers resolve complaints. Ensure you receive the maximum amount for your gold by shopping around.

While you may be very tempted to quickly send off your old gold scraps and jewelry to a business that buys gold through the mail, do your homework about the company first. You should find out how long the process takes, and get package tracking and insurance on your package, too. Take pictures of anything you send so that you can settle any disputes that may occur later.

If you’d like to leap into the world of gold investing without having to pony up a large amount of money at the start, buying scrap gold may be the right tactic for you. If you do this on a regular basis your collection would grow quite quickly. Find a secure place for your stash until there is enough for you to cash it in.

If you’re not sure about the value of your jewelry, you can have an appraisal done. This may cost a small fee, however it is crucial if you want to know the true value of your item. You will want to find someone who is accredited in gold appraisal to get the proper value of the piece. Remember, though, that you won’t get the appraiser’s price for your gold.

Anything that is gold can be sold. For example, you might sell home accent pieces, dinnerware, and old or broken rings and necklaces. The purity doesn’t even have to be 100%. It could be plated gold or it could be that just a portion of the item is made of gold. You will still stand to make a bit of profit.

If you’d like to sell scrap gold or jewels, look around for the best price. Even though the market “spot” gold price is the national standard, not all stores will pay it. Stores that are not near shopping malls may have lower overhead and are able to pay more.

Melt Value

If you are looking to sell gold, the first thing you need to figure out is if you’re going to offer it up as an entire jewelry piece, or seek the melt value. Many private buyers and pawn shops are only willing to give the melt value. Never let this dissuade you, however, as you are sure to locate an appropriate buyer eventually.

Gold is loved by many people, but not too many people actually know what they need to in order to make it an investment. However, with the information in the article above, you now know more about how to invest in gold. Apply this knowledge and make smart decisions regarding gold.

Don’t Look Anywhere Else Until You Read These Great Tips About Gold

Gold is hugely popular since the economy began to tank. More people are ensuring their wealth through gold more than ever. This article is here to help you get everything you need to out of a gold investment.

Go with a legit buyer if you’re selling gold. Check with the BBB and look at reviews online before you sell your gold to a buyer. Reputable buyers will pay fair rates for gold and will provide solid customer service. You should do this to better protect your gold investment and yourself.

Think about selling gold on the web. It is now easy to sell gold without having a physical store location. Many websites want to buy gold from you. The site will mail you a kit for mailing in your items. If they accept the pieces, you will receive their prevailing rate.

You should always ask for timely delivery when purchasing some gold from a reliable seller. Always get a timeline in writing of when your gold pieces will be delivered if immediately delivery is not provided by the seller. Their expected delivery date should be indicated. Do not complete your order without this important information.

Only buy gold jewelry from a seller if they have a return policy What if it doesn’t fit? In those cases, you should return the jewelry for a refund.

Melt Value

If you’re selling a gold item that has value beyond its weight in gold, you need to choose whether to sell the piece for its intrinsic value or its melt value. Many buyers only want to pay for the melt value of the jewelry. Never let this dissuade you, however, as you are sure to locate an appropriate buyer eventually.

GoldMoney can be a good resource when buying gold. This is like opening a bank account for gold. With GoldMoney, you pay for a certain amount of gold at market rates, taken from your account, and it is reserved for you. Your gold sits in a vault until you decide what you wish to do with it next.

Although buying gold is exciting, don’t talk to people about this. You don’t know who could try to keep tabs on this, and you don’t want to have to worry about trusting people. Protect your investment in a secure home safe or in a safe deposit box. This keeps your gold hidden and secure, as it is a very valuable investment you want to protect.

Do not forget to search thrift shops and antique stores for hidden treasures. If you you’re aware of what to look for, you can find some great bargains. Lots of folks are unaware of the value of the items they donate to these places. If you’re educated on how to make these finds, you can score some great deals.

Be cautious with the gold market. All markets have their flaws, and the gold one is no exception. There are those out there that will intentionally offer you a much lower price than the gold is worth if you are selling, and increase the price if you are buying. Therefore, it is important to proceed with caution and research each company carefully.

Make sure you are know exactly what you have. Not all pieces that appear to be gold are worth their weight in gold. Usually other metals are combined with gold to provide more strength. This has a detrimental effect on value. So, too, can items that are simply gold plated. Having an appraisal done to your gold can help you get the best idea of its actual worth.

Be knowledgeable about market prices before you accept someone’s offer to buy your gold. Research the selling price of pieces similar to yours. In this way, you will have a good idea of how to price your gold. Begin the negotiations by asking for more than you expect to receive.

Gold is more popular than ever. When you have the correct information, you can invest in gold and make a fortune over time. It is our sincere hope that you have been able to glean useful information from this article.

What You Have Always Wanted To Know About Gold

If you have decided that you want to profit from gold, you have an admirable goal. But you need to acquire a certain amount of technique first. Keep reading to see why gold is a valuable and great investment strategy.

Prior to selling or buying gold, be certain you know how precious metal pricing works. Precious metal prices vary from day to day and it’s best to check the price before selling or buying gold. Gold pieces with fractions of an ounce will command higher prices than pieces weighing one ounce.

Comparison shop when it comes to selecting a buyer. Check for online reviews and reports from the BBB and see how these dealers resolve complaints from their customers. Ensure you receive the maximum amount for your gold by shopping around.

Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. If the seller does not provide immediate delivery, you must get some kind of writing from them confirming when you can expect to get your pieces. The date they expect you to get them should be listed. Only complete the order if given this documentation.

Melt Value

If you are looking to sell gold, the first thing you need to figure out is if you’re going to offer it up as an entire jewelry piece, or seek the melt value. Private sellers and pawn shops just want the melt value. If you’re prepared to put more effort into locating a buyer, though, you may make more by selling your pieces as jewelry.

If you decide to mail your gold to a buyer, find out how much mailing and insuring these items will cost you and how much you will have to pay to have the items mailed back to you in case you do not accept the buyer’s offer. A lot of companies say they’ll let you ship for free, but to get things back they charge quite a bit. You want to know what those charges might end up being before you decide to send them your gold.

Your buyers should always have gold-buying licenses from the state. You could still have a problem, but licensed buyers are more likely reputable. Do not be forced into selling to the first buyer you find if you are not happy with the terms on offer.

Don’t sell your items to the first buyer you come across; always get a few quotes. You never know what kind of offer you will receive! If you stick with your first buyer, you could get a terrible deal. Think about this ahead of time so that you can put the most money inside your pocket.

Ask what method is used to determine the purity or karats of your jewelry. In many cases, items are stamped. A visual cue may not be available so other methods are used to figure it out. One method that can be used is the acid test.

Have jewelry appraised prior to selling it to anyone as scrap gold. This is particularly true for unique pieces that have exquisite workmanship and design. The appraisal isn’t free, but it can boost your selling price. Appraisers can also tip you off about interested parties concerning your jewelry.

Now you know how to use gold to your advantage. It can keep your whole portfolio in balance. Now you should be able to see what makes gold good to invest in as well as what risks you should look out for.

“Golden Advice”: Top Tips For Gold Selling, Buying, And More

Anyone who has been paying attention in recent years knows that gold markets have been the recipients of immense amounts of new interest from investors of all types. Doing well in the gold market requires lots of insight and knowledge from successful industry professionals. Keep on reading to get your gold journey underway.

Stick with a reputable buyer when selling your gold. You can find out if they’re trustworthy by looking at the BBB reviews. A legitimate buyer will pay you fairly for your gold while giving you great customer service. Protect your gold investment and yourself.

Before buying or selling gold, know how precious metal prices work. The prices for precious metals go up and down from one day to the next. Therefore you must find the price on the exact day before you agree to do business with someone. Gold pieces with fractions of an ounce will command higher prices than pieces weighing one ounce.

Look online for the most reputable gold buyer you can find. You want to determine how the business treats its customers and whether there are outstanding complaints against it. Check for offers through different buyers to make sure you get the best price for your gold.

Be aware of the going rate of gold before you sell you gold items. Gold dealers cannot scam you out of money when you are informed about the value of your items. Dealers will charge you a premium on top of market value so they can make some money too.

If you’ve been thinking about selling your gold to a mail-in company, take the time to read over their fine print before getting involved with them. You should find out how long the process takes, and get package tracking and insurance on your package, too. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.

Scrap Gold

Don’t have much money? Invest in scrap gold. You can accumulate scrap gold as you can afford it and have a pretty nifty next egg in a few years. Keep it inside a safe location until you get enough to cash in.

Get your jewelry appraised. This can cost you a little initially, but you want to know right? Make sure that you get a truly realistic value from an appraiser that is accredited. If you do want to sell the gold, understand you won’t be offered full value it was appraised for.

When considering selling your gold jewelry, you need to figure out if you want to get melt value or sell it as jewelry. Most pawn shops and gold buyers will purchase your gold jewelry for melt value. Don’t get discouraged since there’s a buyer out there that wants your pieces.

If you don’t want to worry about storing, shipping and insuring your gold, consider buying GoldMoney instead. It is almost like opening a bank account for gold. You simply establish your account, deposit funds and receive an assignment of gold that fits the value of your account. The gold will physically sit in the bank where you can cash it, portion it, or in some circumstances, you can redeem it for gold bullion bars that weigh a kilo.

Avoid letting people know that you are planning to sell your gold. You never know who else could be listening or who you can really trust. Keep it to yourself and protected, either with a decent home safe or in a bank. That way, your gold will always be secure.

You should know that people are excited about gold all of the time because it’s something that just keeps going up in value it seems. Maybe you are one of those who would like to gain more knowledge. Use the information above to help you buy and sell gold.

Learn The Ins And Outs Of Gold With These Tips.

In the finance world, gold is the king investment. Are you interesting in knowing what it takes to invest gold, so it contributes to making your portfolio a strong one? You must consider many different things when you are deciding whether to buy raw gold or purchase shares. Keep reading to get more information about investing in gold.

Research several gold buyers and compare them to obtain the best price for your gold. Look at the BBB website online for ratings, reviews, complaints and more. Talk to several different buyers and get quotes from all of them to ensure you get the best price for your items.

Why not make money selling your gold to online buyers? You don’t have to go to a jewelry store or pawn shop. You can use various websites to sell gold. Simply contact the site you wish to do business with, and they will send you the packaging material to ship the gold you want to sell. Shortly, you will receive a check for a fair price for your gold.

Before you mail off your gold, make sure that you understand the polices, fees and terms of the company you are dealing with. You should be clear about when you can expect to be paid. Insuring your gold shipment is a good idea, too. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.

Ensure that your retirement investments are approved. The gold has to be IRS approved. You need to buy only 24-karat bullion coins or bars. You should be more inclined to buy gold bars, which hold greater value than coins.

Scrap Gold

You can get into the gold market with just a small investment in scrap gold. After a year of buying a little gold each payday, you could end up with a valuable collection of scrap gold. Keep your collection safe until you have an sufficient amount to cash in.

If you will be selling your gold, shop around for best prices. While spot pricing is the national standard, most stores don’t honor it. Kiosks in malls and other high-traffic areas pay more in rent and operations, thus, reducing the amount of money they are able to offer for your gold.

When selling your gold, it is necessary to determine if you wish to sell something as jewelry or simply to get its melt value. Most buyers will offer you just the melt value for your gold. Never let this dissuade you, however, as you are sure to locate an appropriate buyer eventually.

Be careful before getting involved in the gold market. Every marketplace has bad apples, but the gold arena is renown for possessing quite a few. Despite your best efforts, some buyers and sellers are more than happy to cheat you wherever possible. Therefore, it is important to proceed with caution and research each company carefully.

Look into market prices of gold before selling it. You also ought to do some comparison shopping when it comes to assessing price on similar items. This will give you a price point to work with. Ask a bit above it to give room for negotiation.

Always do your own research into the gold market before you make any investments. You will find that there are fraudsters waiting at every corner wanting to take you for a ride. However, you need to be very careful when it comes to promises about making you rich. Gold investing should be long term investments.

You don’t have to own gold to invest in it. You can also make investments in gold shares and stocks. If you choose to purchase actual coins or bars, take into account the cost of secure storage of your gold.

When negotiating with the dealer, be sure to read everything with a fine tooth comb. This is a business transaction after all. Know exactly what you are putting your signature on. Don’t be afraid to pass on anything that has terms you don’t agree to. It pays to watch out for yourself in this way.

Having read the advice presented here, you are now aware of more aspects of the gold market. With luck, you are now empowered to make some good choices about fitting gold into your portfolio. Take the advice you’ve learned so that you can start working on investing in gold for your future.

What You Did Not Already Know About Gold

The dollar isn’t increasing in value, but gold is! Gold is probably the most popular of the precious metals people invest in, and the value is increasing greatly as the value of the dollar decreases. The information in this article will guide you as you begin buying gold.

When selling gold, it is a good idea to get an estimated value from more than one source. Dealer prices vary by store. You’ll get a fairer price if you’ve gotten a few estimates.

When you invest in gold, it is a good idea to go with buillon bars. Their weights can vary. Smaller pieces are as little as half an ounce, while others reach hundreds of ounces in size. A heavier bar may be more difficult to find, however.

If the gold you are purchasing is an investment in your future, you must be aware that there are certain kinds you should target. You want to ensure that it is IRS approved. This means it needs to be in the form of coins or bullion that is marked 24 karats. Bars typically are more valuable than coins are.

Melt Value

If you’re selling a gold item that has value beyond its weight in gold, you need to choose whether to sell the piece for its intrinsic value or its melt value. Pawn shops and many private sellers are only looking to pay the melt value. It may take longer to find the right buyer, but you will get more money this way.

Check spot prices before you buy. This can be seen at numerous websites, but keep in mind it can often change. Paying for gold that is any higher than an 8% markup is not a wise investment. If you find a dealer asking for more than 8%, they’re overcharging and may not be ethical.

Don’t avoid searching antique shops or thrift stores for gold. If you you’re aware of what to look for, you can find some great bargains. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. A little bit of effort on your part to look around can yield big results.

You can use a magnet to test precious metal inexpensively. Precious metals do not respond to magnets. 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.

Prior to investing in gold, research the current market. There may be individuals that claim to be professional market gurus, but they’re just scam artist that want your investment. However, you should be leery of anyone who promises you wealth. Don’t think of it like a get-rich-quick scheme to avoid false expectations.

In many cases, earing backing are solid gold even the total piece is not. In many cases ring bands and the clasps of necklaces are real gold too. Since these items are so small individually, it’s best to sell them together in a larger lot. A larger profit can be obtained this way as many pieces are being sold in one “lot”.

Although gold can be a lucrative investment, it can be volatile. If you’re not wanting to stomach the ups and downs, then you need to steer clear. However, if you have some ability to weather such swings, still be sure to safeguard your downside potential risks. Only a small portion of your portfolio should be tied up in gold. Typically, you should be okay with five percent.

When investing in gold and various other precious metals many people incorporate different strategies. While many find riches dealing in silver or platinum, others are able to reach their goals with gold. Hopefully you now have a better understanding of the different ways that you can invest in gold.

Make Money In Gold With These Ideas.

Should you be a serious investor, it is important to include commodities within your portfolio. Gold is the number one commodity available. Gold can help you out if you just want to make some quick money or if you’re saving for your retirement.

Gold prices change all of the time, so make sure you are aware of the value before you try to sell any. If you have made the call to sell any gold you have, group your pieces by karat value. Avoid selling jewelry that is worth more because of the designer or maker.

Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. To ensure timely delivery request a confirmation on the shipping date. You should be provided with the estimated date of delivery. Don’t go through with the order if they can’t provide you with the delivery date in writing.

If you’re going to sell your scrap gold at neighborhood shops, check out more than one. Prices paid will vary from shop to shop. This is because they must take into consideration their overhead and commissions when purchasing gold.

Melt Value

If you’re selling a gold item that has value beyond its weight in gold, you need to choose whether to sell the piece for its intrinsic value or its melt value. Most pawn shops and gold buyers will purchase your gold jewelry for melt value. If you are selling a piece of jewelry, you should pursue a better deal.

Find out if the firm you are mailing your gold to will ship it back, and how much that will cost. Shipping to them is free, but the cost to get your pieces back is often massive. Be sure you have an idea how much it will cost you to reclaim your items.

Think about shopping thrift and antique shops to discover gold treasures. If you have an idea of what you are seeking, you can really find a bargain in these places. Many people do not realize what they have and sell it or donate it to these shops. Their loss can be your gain.

Be careful in the gold market. Markets all have their share of unscrupulous players, but gold is a market that seems to have many. There are those out there that will intentionally offer you a much lower price than the gold is worth if you are selling, and increase the price if you are buying. You need to do your research and be careful.

When selling gold, research the market price. You also ought to do some comparison shopping when it comes to assessing price on similar items. This is a price point that you can work with. Always ask for more than what you want, because this will leave some room to negotiate.

Prior to coming to any decisions with regard to a gold buyer, shop around. You might be amazed by the variety of offers received. If you stick with your first buyer, you could get a terrible deal. Get the most money for your gold by spending time to comparison shop.

Having read this article in full, you now know a thing or two you previously didn’t. Use these ideas for improving the investment portfolio or making money with just gold. You can trade gold more confidently after learning this information.

Good Tips To Use When You Need Information About Gold

The rise in gold prices seems to be almost continuous. Gold investing is a potentially-lucrative field that suits investors at any scale, and anyone who’s willing to educate themselves stands to invest profitably. The following paragraphs are full of ideas you can use to deal wisely in gold.

When selling gold, it is a good idea to get an estimated value from more than one source. From pawn shops to jewelry stores, each location will charge a different premium on gold. Getting estimates from several establishments will help you make sure that you receive a fair price.

Gold prices constantly change so you must know your piece’s value before selling it. If you choose to sell any gold, keep in mind that pieces that have different karat values need to be valued and weighed separately. Don’t sell jewelry that’s worth more due to maker or designer.

Learn how precious metals are priced before you trade in gold. The prices of metals like platinum, gold and silver can fluctuate greatly in just one day. Before you do any buying or selling, check the market prices beforehand. You may have to pay higher prices, though, for pieces that have a small fractional measurement.

Know the current price per ounce of gold before selling your pieces. That way you will be able to ascertain if a dealer is providing you with a fair price or not for your pieces. Most dealers will give you the market value, but some will rely on the fact that people just want cash to try and get the best deal possible for themselves.

If you plan to invest in gold as part of your retirement plan, be sure to do it wisely. The gold must be approved by the IRS. They have to be either 24 karat coins or bullion bars. Over time, gold bars appreciate better than gold coins.

Melt Value

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. Pawn brokers and private sellers may just want to pay melt value. Try not to be discouraged. Sooner or later you will discover the purchaser you are seeking.

On the day you are planning to buy your gold, check the spot price. Many websites update this information daily. Never buy something listed at more than ten percent of the spot price. Occasionally an unethical dealer may try to overcharge their customers.

Know exactly what you have. Many things look like solid gold but are not. Other metals are often mixed with gold in order to provide strength. This will reduce the value. So can gold-plating. If don’t know what you’ve got, have it appraised before you sell it.

When dealing with any gold buyer, make sure you shop around before making any final decisions. You might be amazed by the variety of offers received. If you do not get several offers, you may not get the best price. Take a little bit more time at first so you’ve got the maximum return on your gold investment.

How does the seller know what the karat rating is? In most cases, gold will be stamped with the karat it is made with. In other cases, there’s no visual evidence and the rep must make the determination by an alternate method. One method that can be used is the acid test.

With everything you’ve learned, you’ve got great ways to make money through selling, buying, and even trading gold. No matter how you approach it, you can really make it work. Use these tips to prepare yourself.