Gold has a long history of being a prized metal. Since it was discovered, people have been interested in gold. If you want to make a gold investment or buy something that is gold, here are a few tips to assist you.
Always use a reputable company when selling gold. Look them up using the Internet and the Better Business Bureau to find reviews. A legitimate buyer will pay you fairly for your gold while giving you great customer service. Do your homework in order to safeguard both you and your financial investment.
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. Be certain you have a clear understanding of the timeline involved, and make certain your jewelry is insured. Lastly, take pictures of all items you’re sending so you have proof in the event of a dispute.
When you’re dealing with any type of gold it can be of valuable to someone that buys it. Whether it is jewelry or home decor related, it could be an everyday item that you have within the home. It doesn’t have to be all gold either. It just needs to be plated or maybe only a part of it’s gold. You are sure to turn a decent profit.
When selling jewelry, it is important to decide whether it will be sold as jewelry or as gold. You may get more if you can wait to sell it to a buyer who values it as a beautiful piece of jewelry. 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’re using a mail-order gold buying service, make sure you understand any return postage fees you’ll need to pay if you decline their offer. Many companies advertise no shipping costs, but they often hide large handling fees in the fine print. Be certain you know exactly what those fees will be.
Sell only to gold buyers who are licensed. You could still have a problem, but licensed buyers are more likely reputable. There are many stores and individual buyers looking to purchase gold, so always know you have multiple options, and never just the first deal that comes up.
Use a magnet to quickly determine whether an item is really made of gold or another precious metal. Real gold won’t stick to a magnet. The clasp may be solid gold, but it’s possible that the piece is almost entirely gold-plated. A magnet is an easy way to test.
Research all that you can before you invest in gold. There are those who say they’re market gurus and want you to invest with them. But, be weary about get rich-quick schemes. Do not think of gold as some way to get rich quickly, and you won’t be disappointed.
Gold is a very volatile investment. It is important to understand that prices can vary daily on gold values. Even if you’ve got the stomach for it, you still need to minimize your risks. Do not invest more than a tiny percentage of your portfolio in gold. Usually five percent is good enough.
Now you understand what makes gold so valuable and why it’s sought after by people around the world. Gold is a wise investment and is beautiful to wear as well. Use these tips and invest in gold right way.