The prices of gold change rapidly. Gold is a valuable commodity, so there will always be a trading market available for it. Tough economic times usually entail a rise in the price of gold. Keep reading to find out more.
Find a reputable buyer to sell your gold to. You can find out if they’re trustworthy by looking at the BBB reviews. Do not do business with a buyer who does not treat you as a valued customer or does not offer a fair price. This can help you to be protected when dealing with gold.
Be aware that it is possible to sell anything with a gold content to gold dealers. This could be jewelry pieces which are broken, home decor, tableware or any other gold items you have around. An item need not be made purely of gold. It just needs to be plated or maybe only a part of it’s gold. You’ll still get a decent return on your sale.
Melt Value
When selling gold, you must decide whether you’re selling a piece for its melt value or just jewelry. Usually, you will only get the melt value from both private sellers and pawn shops. Don’t get discouraged since there’s a buyer out there that wants your pieces.
There are places you can send you jewelry to get paid. See how you can get your gold back if you don’t like the offer. Most companies will give you free shipping to them but charge you an arm and a leg for return postage. Know what you’re up against before you mail anything away.
Your buyers should always have gold-buying licenses from the state. You have a greater likelihood of dealing with a reputable trader if you look for this certification. 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.
Do not forget to search thrift shops and antique stores for hidden treasures. These places can be treasure troves for gold hunters. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. You can take advantage of this if you just know what to look for.
Know what it is you actually have. Many things look like solid gold but are not. Usually, there are other metals mixed with gold for stability. This makes the value lower. Gold plated items are subject to this too. If you don’t know what you have, have it appraised before trying to sell it.
One quit and cheap method of finding out whether or not gold is real is to use a magnet on it. It is true that precious metals are not attracted to magnets. 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. You can test your jewelry this way.
Ask what method is used to determine the purity or karats of your jewelry. Often, the item will be stamped. However, you may see no sign at all but there are ways to determine its value. The most simple test involves the use of acid. If the company claims to use that type of test, it may be an indication that they are not as experienced with accurate testing methods.
As you can see by now, gold is a constant in our financial system. So, if you want to deal with this volatile commodity, you need to know a few things about the marketplace. Put this information to good use when you are considering gold investments.