Tag Archives: precious metals

Great Advice On Dealing With Gold

Gold generally trends up in price with a few downward fluctuations. Being that gold is highly sought after you can always expect that there will be a market for it. Values of such precious metals often skyrocket during times of economic uncertainty. Keep reading to discover how gold can fit into a smart financial plan.

When selling gold, it is a good idea to get an estimated value from more than one source. There are lots of services, jewelry stores and pawn shops that buy gold. Of course, they will want to make a profit when they sell it. By seeking multiple estimates, you are able to determine whether an offer is truly fair.

Hundred Ounce Bars

A great way to invest in gold is through bullion bars. These come in various weights. They can be found in sizes as small as a half-ounce or as large as four hundred ounce bars. For the record, four hundred ounce bars are very difficult to find.

Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. If this is not possible, make sure you get a written contract outlining when the items will arrive. The expected delivery date should not be a mystery; it should be clearly stated. Don’t buy without such a contract.

When you first check out gold jewelry, you may be in for a bit of sticker shock and decide to buy gold-plated jewelry, instead. However, don’t feel that to buy gold of real value you need to pay a high price in a fine jewelry store. You can get gold jewelry cheaper online or in pawn shops.

Look at the current gold market price prior to selling your pieces. This will help you set a fair price when you sell or buy. Many dealers will pay market value, however others rely on people desperate for cash to get the most for themselves.

Make sure that you understand the terms when sending jewelry back through the mail. Be certain you have a clear understanding of the timeline involved, and make certain your jewelry is insured. Make sure that you photograph each piece of gold you’re sending before you mail it off.

Be aware that it is possible to sell anything with a gold content to gold dealers. Gold pieces can be anything from jewelry to tableware, even home decor. In fact, a gold piece doesn’t have to be 100-percent gold to be worth something. It could be plated gold or it could be that just a portion of the item is made of gold. It’s still possible to make money this way.

Know what you have. Just because something looks like gold, that doesn’t mean it’s worth the full weight in gold. Other metals are often mixed with gold in order to provide strength. The price will be affected by this, often lowering it. This also applies to gold plated items. If you’re not sure about the value of your items, you should have them appraised before you try to sell.

Look around before deciding on purchasing from a gold buyer. You might be surprised by the price variants. Shaking hands with a buyer who brings you the first offer may actually shortchange you. Take your time so you can make the greatest return on your gold.

A cheap and quick way to test gold is to use a magnet. Precious metals, such as gold, are not magnetic. Sometimes, the only thing real about a piece of gold jewelry is the clasp. This method is good test for that.

Clearly, gold provides a reliable measuring stick for the economy. If you want to make money with gold, you must have a clear understanding of its value in the market. You must also establish clear financial goals to govern your dealings. Follow the advice presented here to make the most of the lucrative gold market.

Get Started In Gold With These Great Tips

Today, just as in other times of financial challenge, gold is a sound and solid investment. If you’ve been thinking about delving into the world of gold, the following information is definitely for you. Read on for some excellent advice.

Get valuations for your tangible gold from a handful of dealers at a minimum. There are many buyers who purchase gold, but prices vary from one professional to the next. Getting multiple estimates helps you get a fairer price on your gold when selling it.

Precious Metals

When entering the gold market you will want to have an idea on how the precious metals prices are determined. 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. There are different percentages owed based on the sizes of gold you own.

Look into selling gold on the Internet. You no longer need to visit a physical store to buy and sell gold. Many websites are available will help you sell your gold. You will get a kit to return gold. Shortly, you will receive a check for a fair price for your gold.

Get an appraisal to find out the exact value of your jewelry. Even though it is an extra expense, it can be well worth the investment. For the most accurate appraisal, use the services of an accredited and independent appraiser. If you decide to sell, be aware that it’s not likely for you to get full retail value of your item.

Your buyers should always have gold-buying licenses from the state. There’s always a risk of getting ripped off, but a buyer who is licensed poses far less risk of this occurring. There are various people and stores that can buy gold, so do not think that you must go with the first one you encounter.

Gold Market

Be careful when dealing with the gold market. There are always a few bad apples in every market, and players in the gold market are no exception. They want to take your money and take advantage of you. For this reason, it is very important to thoroughly research any gold buyer you are considering.

Before selling gold, separate everything by karat. Keep an eye on the gold buyer because they may try and deceive you. A common trick is to weigh everything together and then give you the price for the karat that is the lowest weight. You will earn more if you sell your gold separately by karat weight. Rather, approach the vendor with separated piles in order to maximize your profit.

Look at every form you need to sign when working with gold dealers. There is a lot of money in gold and some unscrupulous brokers out there. Always understand anything you’re placing your signature on. If you do not agree with the term, go to another dealer. You must protect your finances at all costs.

As fruitful as gold investments can be, the market is also always-changing. It is important to understand that prices can vary daily on gold values. Even if you’re ready to get into these choppy seas, take steps to limit your risk. Only invest a small amount into gold. It should be no more than five percent.

Nearly everyone recognizes the importance of gold when it comes to safeguarding and warehousing wealth. The unstable economy we have had the past few years has made this more of a trend. These tips will help you make the most of your gold investment.

The Top Gold Information You Should Know About

With the declining value of the dollar, many people are turning to precious metals as a more dependable investment. Gold tends to be the most popular since it’s value keeps increasing while the dollar’s value is decreasing. Use this article’s tips as you consider an investment in gold.

Only deal with reputable buyers. Look them up using the Internet and the Better Business Bureau to find reviews. When you choose the right buyer, you will have a great transaction. Stick with them to protect your own interests.

Do you know how pricing on precious metals works? Gold, along with silver and platinum, have prices that change on a whim. Therefore, you must always know what the spot price currently is. Watching the market can help you to buy or sell your gold at a great price.

Understand that any item containing gold carries value with gold dealers. For example, you might sell home accent pieces, dinnerware, and old or broken rings and necklaces. It doesn’t have to be 24 karat either. A gold plated item or an item that is not entirely made from gold is still valuable. You still stand to make a fair amount of money selling it.

If you choose to sell jewelry or scrap gold, shop around. While spot pricing is the national standard, most stores don’t honor it. Stores located apart from larger shopping centers may have fewer fixed costs and are thus, able to pay higher prices.

Be careful when dealing with the gold market. There are bad companies in any market, but this market is known for having many. Any number of shady individuals or even business are ready and willing to rip you off. Research gold and gold companies before trading.

You should appraise your jewelry before selling it for scrap gold. This is particularly true for unique pieces that have exquisite workmanship and design. A proper appraisal may cost money, but it can definitely be worth the expense with valuable pieces that may have resale value. An appraiser may know someone that’s interested in your jewelry.

Many times earring posts are made of solid gold, even when the actual earring is not solid. Necklace clasps and ring bands are frequently real gold too. You can sell these small pieces together. This is various gold pieces in one quantity and it can help you earn more money.

You don’t have to own gold to invest in it. You can put your money in a gold exchange traded fund. You also buy stock in a gold mining company. There are also mutual funds that focus on gold. If you want to get physical gold, factor in the cost of storage in a secure location.

Have a plan in place before you begin investing in gold. Gold can, for instance, be a good way to keep your savings from being impacted by inflation, but its value can also be volatile. If you educate yourself on the gold market and have a game plan going in, you have a good chance at being successful.

Like other investments, it pays to have a long-term perspective when it comes to gold. This means you rarely invest when prices are high. Wait for prices to become lower before investing in gold. Ignoring the market when buying gold will give you a better price overall.

The strategies used in the gold market differ from those for Forex or stocks. You can purchase gold stock or the actual gold bullion. This article discussed the value of purchasing gold in both physical and stock form, as well as selling it.

Your One-stop Guide For Everything Gold Related

All investors should familiarize themselves with gold investing strategies. Diversity is important, and gold will help diversify your portfolio. But, where to start? There are various options, so it may appear overwhelming. Read on to learn more about the basics of investing in gold.

Precious Metals

Do not dabble in the gold market until you are familiar with pricing of precious metals. The prices of precious metals fluctuates daily, so it’s best to know the price of the day. A higher percentage over the melt should be expected when purchasing fractional gold pieces such as 1/2 or a 1/4th ounce against a one ounce piece.

It is possible to safely purchase gold online. You don’t need to have a physical store location anymore. You can buy and sell your gold at many websites online. The site will send you a special kit in which you’ll return the gold items. If all is in working order, they’ll then pay you at their going rate.

If you’re clueless about the value of your gold jewelry, have it appraised. It costs a little, but the knowledge gained is valuable. An independent appraiser should be used in order to receive the best value. Understand that you’ll be paid less than the appraisal value of your gold by gold buyers, however.

Use GoldMoney if you are interested in buying gold. It can be compared to “gold bank accounts.” Set up the account, deposit some funds, and you get gold at the price that correlates to the account. The gold resides in a bank. From there, you can sell it or do a number of other things with it.

Never pass up an opportunity to search for gold in a thrift shop or antique store. You can find bargains in these places. Often, gold ends up in stores like this because the original owners didn’t realize the items they had were valuable. If you do some research, you can benefit greatly.

Many people don’t know that a magnet can be used to test whether something is made of gold or some other type of metal that is precious. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. Sometimes a jewelry piece is only plated in gold with a solid gold clasp. Using a magnet is an excellent way to find this out.

You can invest in gold without collecting it. You can invest in gold mining stocks or purchase shares in an exchange traded fund or mutual fund that focuses on gold. Buying gold bars or coins involves considerable storage. Remember you must keep these things in a safe place.

Before selling gold, separate everything by karat. Some vendors may try to weigh all of your items at one time and pay you for the lowest karat. This will cheat you out of money. If your gold is already separated, you will get as much as possible for it.

Never sell some gold just for the sake of doing so. Gold tends to increase in price, so waiting may yield even greater profits. If you’re able to keep your gold, then you may be able to get more benefits from it later on.

You might be able to scrounge up some gold by simply asking your friends and relations if they have damaged jewelry items they no longer want. Get a quality jewelry scale, measure the weight of your gold and it will be possible for you to offer a better price than a pawn shop while still making a profit.

Be well versed on the buyback policy of the seller. Some people that buy gold will make you pay a premium to get the gold resold, and some people don’t do that. Think about how much it would cost to send things like gold bars that are bulky to dealers far from where you live. It is best to take the gold as soon as you purchase it from your local dealer.

Making the right choices when you invest in gold is vital. This article should have given you the confidence you need to make the decision to invest in gold. Remember what you have read and get going today.

Top Pointers To Help You When Dealing With Gold

As the dollar’s value declines, lots of people see gold and precious metals more favorably as an investment. 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. Follow the tips presented here as you consider the advantages of investing in gold.

Before you buy gold from a dealer, get a guaranteed delivery date. It you don’t have it delivered immediately, find out when you will receive your gold. Their expected delivery date should be indicated. Complete your order only when given this information.

Knowing the current market value of gold is important prior to selling or buying it. Doing so will help you figure out if a dealer’s offer is a good one or not. Dealers often assume that people who are trying to sell gold need quick cash and will try to take advantage.

Find out what the terms are before mailing off your old, broken jewelry. Make sure you know when payment will be sent to you and insure your package as well. Take a photo of all the items you are sending so there will be no questions later.

If you are buying gold as a form of a retirement fund, make sure to buy the right kind. Your gold has to be IRS approved. They must be 24 karat bullion bars or coins. Consider bars more than coins, since they have more value.

If you are not sure of the value of your gold jewelry, you may want to get it appraised. While there is a cost involved, you will at least then be fully aware of what you own and what it is worth. Only use an independent, accredited appraiser to get the most realistic value. Do not expect to get the full value of the appraisal, but you should try finding a buyer who will give you an amount as close to the appraisal as possible.

Do not forget to search thrift shops and antique stores for hidden treasures. You can find bargains in those places when you’re aware of what you want. Many people sell or donate at these shops for low prices due to being unaware of what they own. If you know what you’re doing, this can be your benefit.

Be knowledgeable about market prices before you accept someone’s offer to buy your gold. You should see if you can figure out what people are selling pieces like yours for as well. This is a price point that you can work with. Always see if you can get a little more than they’re asking if they allow you to negotiate.

Before selling your gold, comparison shop. You might be amazed by the variety of offers received. If you stick with your first buyer, you could get a terrible deal. Invest the time into the process, and you will be rewarded in the end.

An inexpensive and simple way to see if an item is gold is with a regular household magnet. Precious metals that are true like gold aren’t going to be magnetized. Sometimes the clasp of a piece is solid, however the rest will be plated. This is a good way to test that.

Prior to investing in gold, research the current market. Not everyone who claims to be a gold expert really is. They may just be trying to trick you. However, you need to be very careful when it comes to promises about making you rich. Do not think of gold as some way to get rich quickly, and you won’t be disappointed.

Fine Print

Always read the fine print of any contract so you understand it completely. If you’re using a mail-in gold program, read all the fine print prior to committing to the deal. Doing so makes it easier to keep track of what portion of your earnings go toward fees and commissions.

There are a lot of things to think over when deciding if you’re going to invest in precious metals. While many find riches dealing in silver or platinum, others are able to reach their goals with gold. This article should have given you what you need to know about gold and investing in it.

Tips To Help You Make Money With Gold

More and more are investing in precious metals, seeing as the dollar’s value has increased. When people think of precious metal trading, gold is usually the one they are thinking of. Use the advice you read here to guide you in your gold buying.

You’ll want to know just how much your gold will be worth when 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 has an increased value because of the design or the creator.

Why not make money selling your gold to online buyers? Gold dealing is no longer something that takes a brick and mortar store. There are plenty of websites that are ready and willing to buy your gold. You will receive a kit that will allow you to mail your gold items off. They end up paying you once they receive it, but they usually won’t pay you a lot.

You can get into the gold market with just a small investment in scrap gold. This can accumulate over time, and you can see how this can make a valuable investment. Store it in a safe hiding spot until you have accumulated enough to cash in.

If you are purchasing gold jewelry for another person, you must be certain about the return policy. You need a guarantee on any gold you buy. This is a huge problem.

Whenever you’re looking at selling scrap jewelry or gold it is best to explore many different companies to know the offers are legitimate. Prices paid will vary from shop to shop. Stores located apart from larger shopping centers may have fewer fixed costs and are thus, able to pay higher prices.

Remember to look for gold in thrift and antique shops. Many of these places offer great finds in gold at a cheap price if dig deep enough. Lots of people sell their items here for low prices, because they are not aware of the value. Your knowledge will help you get the better end of the deal.

A quick and inexpensive way to test a piece of gold or precious metal to see if it is real, is by using a magnet. Precious metals that are true like gold aren’t going to be magnetized. Check the clasp separately from a chain. A magnet can help test jewelry quickly.

Karat Rating

How does the seller know what the karat rating is? Many pieces of jewelry will be stamped with a karat rating. However, if there are no visual indications, there are other ways to determine purity. If you see the gold buyer performing an acid test, this is probably somebody who is inexperienced in this market.

Have all jewelry appraised before selling it as scrap gold. This is true for pieces made with fine craftsmanship. Although you may be charged a fee for the appraisal, it may earn you more money in the long run. An appraiser may know someone who will give you a good price for your jewelry items.

Read each form thoroughly when meeting a gold dealer. The gold market is one filled with money. Like anything else, you should understand what you are signing. If you don’t like the terms, be prepared to move on. You absolutely must protect yourself financially.

Investing in gold has significant profit potential, but it’s not for the faint of heart. If you do not have the stomach for quick jumps up and down, stay away. If you are up to the challenge, you ought to minimize risk just the same. Invest only a tiny percentage of your portfolio in gold. A good limit is five percent.

Establish some goals before deciding what kind of investment is best for you. Although gold can add a nice balance to your portfolio in case of rough economic times, it is still considered an investment that fluctuates wildly. If you limit your risk and have set goals, you are more likely to profit.

Precious Metals

There are various strategies involved when investing in gold and the other precious metals. A lot of people like coins or bullion, and other people love buying stocks in precious metals. This article delved into the different strategies used for investing.

Top Pointers To Help You When Dealing With Gold

In recent years, gold has become amazingly popular as an investment. It could be that you’re looking to join in on this popular gold market frenzy as a way to ensure that your financial future is safe. To get started the right way, continue reading to learn more.

Investigate the reputation of any firm you are considering doing business with. Verify their good standing by checking with the BBB and reviews online. A buyer with a good reputation will give you good service and an equitable price for the gold you are selling. Protect your invest and look into these companies.

Before you get into investing or selling gold, it’s best to understand how it works. The prices of precious metals fluctuates daily, so it’s best to know the price of the day. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.

Look into selling gold on the Internet. You don’t need to have a physical store location anymore. There are quite a few websites out there that will buy it. Such sites will send kits in which you mail back your gold. You will receive payment based on the current market value of gold when your items arrive.

While buying gold is extremely exciting, you need to keep it quiet. Anyone could be listening at any time, and you cannot trust everyone. Lock your investment up in a safe at home or at a bank and don’t let anyone else know. That will ensure that a home robber doesn’t get away with it.

Know what you actually have in your possession. Many things look like solid gold but are not. A lot of the time there will be something mixed with the gold so it holds up better. The less gold, the less value. Many items are only gold plated. If you aren’t sure what you’ve got, you should get it appraised before you sell it.

Don’t go into the situation blindly when selling gold; always know what the market price is. Try to compare what similar sized pieces are selling for. This will help you figure out a good price point. Ask a bit above it to give room for negotiation.

Talk to multiple vendors before making a decision about which buyer you’ll go with. You might get surprisingly different offers that reward your patience. If you sell hastily, you may wind up with a poor return. Take time to get the most cash you can for your pieces.

Do your homework before rushing to invest in the gold market. So-called market experts may really be trying to grab your investment resources with little benefit to you. However, you need to be very careful when it comes to promises about making you rich. Gold won’t get you rich overnight, so don’t expect as much.

You don’t have to physically own gold to invest in it. For example, many people purchase investments in gold mining corporations and mutual funds primarily made up of precious metals. If you choose to purchase actual coins or bars, take into account the cost of secure storage of your gold.

Lately, gold has really boomed, mainly because of the state of the economy. The best approach to make the most from gold trading is to do your homework and understand these markets well. Use the advice found above, and you can prepare yourself well to deal in gold.

Need Ideas For Dealing With Gold? These Tips Rock!

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. However, there is much that needs to be learned before this can become a reality. Read on to learn more about gold and how you can profit from it.

Stay with reputable buyers when you sell your gold. Check BBB.org to find out more about the firm. A buyer with a good reputation will normally pay the going rate for gold, and offer superb customer service than a company than is not legitimate. Stick with them to protect your own interests.

Be well informed about the value of precious metals before buying or selling gold. The prices of precious metals fluctuates daily, so it’s best to know the price of the day. There are different percentages owed based on the sizes of gold you own.

Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. Be sure you have your delivery date in writing. Immediate delivery is best. You should be provided with the estimated date of delivery. Complete your order only when given this information.

Always research a company you want to send gold jewelry to. Find out when you can expect your payment, and make sure you insure your package. Lastly, write down and also photograph everything you send to this company just in case you have a disagreement.

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. It is possible to accomplish this over the long haul, by purchasing some gold every pay day, and build up a valuable reserve within a year. Keep your stash in a safe place until you have enough of it to cash in.

You might sell gold melted down or as a jewelry item. You will see that pawn shops and private buyers only pay melt value. Selling your unique gold pieces to a collector can end up netting you more money.

Many times the backs of earrings are solid gold, even if the earring itself is not solid. Necklace clasps and bands to rings are usually real, too. In these instances, it’s best to sell the gold parts in a lot. You may be able to sell them for more as a bunch.

You don’t have to have gold in hand in order to invest it. Buy shares in traded or mutual gold funds or invest in some gold mining stocks. For those that want to buy real gold, make sure you think about how you are going to keep the items safe.

Never sell some gold just for the sake of doing so. Just because the price is higher than ever doesn’t mean it won’t go even higher, since gold is something tends to continually increase in value. The longer you hang on to your gold, the more you’ll make from it in the future.

You can’t deny the influence of gold as a way to secure and solidify personal fortune, even for the most modest. To truly be a wise participant in gold markets, though, a good amount of education is vital. Fortunately, you now have some degree of knowledge along those lines.

The Ins And Outs Of Gold Purchasing And Selling

It is widely recognized that the recent economic downturn has catapulted gold’s popularity among investors. People have been investing in gold in record numbers, but many people don’t understand how to do that. In this article we will share advice that will help anyone who wishes to invest in gold.

Get several opinions about the value of your gold piece before you put it up for sale. Different gold purchasing entities are at your disposal, and they all require different profits from the purchases. Getting multiple offers allows you to understand what you can get for your gold.

Do not dabble in the gold market until you are familiar with pricing of precious metals. Metal prices fluctuate constantly, so you need to know the price on any given day for a transaction. A higher percentage over the melt should be expected when purchasing fractional gold pieces such as 1/2 or a 1/4th ounce against a one ounce piece.

If you have an interest in getting into the gold markets, but don’t have a lot of investment capital, consider buying scrap. Invest small amounts of money in scrap gold. After a few months, you will have accrued a significant store of gold. Make sure you keep the gold secured. A safety deposit box is a good place.

Try using something like GoldMoney for buying gold. It is very much like opening a “gold banking account.” You will simply establish and account, deposit fund and receive the value of your account in gold. The gold physically sits in a bank vault where you’re able to portion it, cash it, or in certain circumstances, redeem it for one kilo gold bullion bars.

While gold buying can be fun, don’t tell everyone about it. You don’t know who is listening, and you don’t know who you can trust. Protect your gold by storing it somewhere secure. This protects you as well as your gold.

Don’t avoid searching antique shops or thrift stores for gold. If you understand what to look for, you really can find some great deals. Lots of people sell their items here for low prices, because they are not aware of the value. If you know what you’re doing, this can be your benefit.

Make sure you are know exactly what you have. Not all gold piece are worth their weight in gold. Sometimes other metals might be mixed into gold to make it stronger. This can make the price a lot lower. Items can also be plated with gold. If you aren’t sure what you’ve got, you should get it appraised before you sell it.

Look into market prices of gold before selling it. Try to compare what similar sized pieces are selling for. This allows you to get an idea of what you should be asking for. Always ask for more than what you want, because this will leave some room to negotiate.

Comparison shop when you are choosing a buyer. You might just be shocked at the spread of offers you wind up getting! Going to different places will allow you to weigh your options and go with the best deal. It can also help you to negotiate if needed. Take a little bit more time at first so you’ve got the maximum return on your gold investment.

A magnet can help you determine if a gold piece is solid. Precious metals, gold included, are not magnetic. Many times you see the clasp gold plated but not the rest of the piece. A magnet is a good tool for discovering fake gold.

Gold Dealer

Before you buy gold, get to know the dealer. Check the Better Business Bureau to make sure a gold dealer can be trusted. Speaking with the BBB will help you learn of any complaints a dealer may have. If you find several complaints, look elsewhere for a gold dealer.

Gold’s popularity and importance has risen due to the downward economy worldwide. If you are planning to invest for the long term, gold is a good choice because it is the international currency. Put these tips to use before you decide how to invest your money.

What You Have Always Wanted To Know About Gold

Everyone loves gold; however, many do not know how precious this commodity truly is. This lack of knowledge can make it hard to take advantage of all that gold can offer them. If you’re interested in learning more about it, continue reading for some great advice.

When entering the gold market you will want to have an idea on how the precious metals prices are determined. Gold, platinum and silver prices tend to fluctuate daily, so make sure you check the spot price on a specific day before you make a transaction. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.

Schedule for a proper delivery before buying gold from any seller. If your seller doesn’t offer delivery immediately, you need written confirmation of when to expect your items. The expected date must be listed. Only complete the order if given this documentation.

Sometimes the cost of gold causes buyers to go for cheaper imitation jewelry instead. However, it’s still possible to buy gold jewelry and not need to spend a fortune at the jewelry store. Pawn shops can offer many good deals and there are also many online buying options.

If you buy gold for your retirement fund, be sure it’s the proper kind. The IRS has to approve the gold. That means that the gold is a minimum of 24 karats, and formed as coins or bullion bars. Since gold bars are worth more than coins, it is best to buy them instead.

Research the market price of gold before you attempt to sell yours. Look around to understand what people are asking for similar pieces. This is a price point that you can work with. Always see if you can get a little more than they’re asking if they allow you to negotiate.

A magnet can help you determine if a gold piece is solid. Gold and other real precious metals aren’t attracted to magnets. Check the clasp separately from a chain. A magnet is a good tool for discovering fake gold.

If you go to a gold party, talk to the person who organizes it to figure out how they calculate the value of the gold sold. Many times you will see the item have a stamp on it. A visual cue may not be available so other methods are used to figure it out. One simple way to do this is to use the acid test; if your rep does this, he might be a novice in the business.

Fine Print

Read and understand the fine print in a sales contract. Read any fine print before you decide to offer your gold to a mail-in buyer. There are going to be some fees and commissions to consider, and you don’t want them to be too steep.

Instead of immediately thinking you have scrap gold, take it to get appraised first. This is a good idea if the piece is antique or has an elaborate design. Although you will probably have to pay for an appraisal, you might find you have something worth a lot more than you thought. A professional appraiser can also point you towards potential buyers for high-quality gold jewelry.

There are many options available to individuals looking to purchase gold as an investment. It is possible to purchase stocks of gold mining companies, shares in a gold ETF or a mutual fund whose focus is gold. If you choose to purchase actual coins or bars, take into account the cost of secure storage of your gold.

As this article said in the beginning, no matter what people think of gold, they rarely know much about it. You should know more than you did to start. Use the information above to assist you in making wise decisions.