Humans have been attracted to gold for thousands of years. Since discovery centuries ago, man has valued 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.
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. Therefore, it is wise to get several offers to ensure the best price.
Bullion bars are hands down your best gold investment. There is a great variety of different weights. You can find them from a half ounce all the way up to four-hundred ounce bars. However, you may have a hard time locating bars that weigh four hundred ounces.
Go with a legit buyer if you’re selling gold. Check the reputation using the BBB and online reviews. A buyer with a good reputation is going to give you a better deal for the gold you have, and they probably will have great customer service too. Don’t let yourself be taken advantage of.
If you plan to invest in gold for retirement, be sure you purchase the right kind. You want to ensure that it is IRS approved. You need to buy only 24-karat bullion coins or bars. Bars are generally more valuable than coins and should, therefore, be favored.
Use GoldMoney if you are interested in buying gold. It s sort of like a bank account for gold. 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.
You need to know what you’ve got. Not everything that looks like gold is worth its weight in it. A lot of the time there will be something mixed with the gold so it holds up better. This results in a price reduction. So can gold-plating. If you do not know for sure the value of your gold piece, have it appraised before presenting it for sale.
Don’t go into the situation blindly when selling gold; always know what the market price is. Also, ask around to find out how much similar pieces are going for. This way you have an idea of what you can ask for yours. Request a bit more than you will settle for to give yourself some room to bargain.
You should always contact the BBB prior to selling your gold. They are sure to have information about each business, as well as data on any complaints filed. Complaints that have been resolved are actually a good thing, so factor those in as well. If a business has a lot of customer complaints or unresolved complaints, avoid using them.
Research a dealer before doing business with them. To make sure you’re dealing with someone good, talk to your BBB chapter. That way, you can learn about any complaints made about the company. Even if you feel a pull toward a particular company, it’s a good idea to move on to a different dealer if they have any unsettled complaints on file.
Be sure to find out about a buyer who may purchase your gold in order to be protected. If you plan to mail the gold out of state, this is even more important. Only do business with gold buying establishments listed within the index of the BBB. That way you get to see if there are pending or past issues or complaints filed against them.
After reading this article you should be better educated in the investment of gold. Gold is one of the best investments you can make. Use these tips to begin investing in gold.