Because people have been looking for smart, stable investments recently, gold has become a popular investment choice. Gold investing is not without its risks, though, and there are a lot of things to take into consideration. Continue on to discover the keys to smart gold investing.
Gold prices change quickly and often, so know the current value before you attempt to sell any. If you choose to go ahead with the sale, separate different karat items and have them appraised individually. Never sell any jewelry as gold scraps that’s worth more than the gold itself due to the designer.
Stick with a reputable buyer when selling your gold. Verify their good standing by checking with the BBB and reviews online. A legitimate buyer will pay you fairly for your gold while giving you great customer service. You should do this to better protect your gold investment and yourself.
Precious Metal Prices
Before buying or selling gold, know how precious metal prices work. Precious metal prices vary from day to day and it’s best to check the price before selling or buying gold. Also, understand that some types of gold will be more expensive than others.
You should always ask for timely delivery when purchasing some gold from a reliable seller. Be sure you have your delivery date in writing. Immediate delivery is best. The expected date must be listed. Only go through with your order if you obtain this document.
Verify the market price before selling your gold jewelry. This way, you’ll know whether you’re really being offered a fair price. Most dealers should sell according to the market, but sometimes they’ll try to scam you if they think you just want quick cash.
Be sure you research a company before sending them gold in the mail. 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 purchasing gold jewelry for another person, you must be certain about the return policy. You do not know if the gift receiver will like it or if the piece fits. It’s always a good idea to be able to get your money back on a jewelry purchase if it doesn’t work out for you.
Anything that is gold can be sold. Old or broken jewelry, old coins and tableware are just some of the things that may contain gold, It doesn’t have to be all gold either. It could be gold plated or a bit of gold and still be sold. They won’t be worth as much but you can still get money for them.
If you choose to sell jewelry or scrap gold, shop around. Many stores do not pay the going rate for gold. You might get a better deal at a store not in a major shopping mall, since their overhead and rent is lower.
If you’re going to ship your jewelry to a mail-order buyer, know how much return shipping is going to cost you in the event you don’t accept their offer. A lot of buyers offer free shipping but will charge you a lot to send the item back. Know beforehand how much you would have to send in order to get your pieces back.
Recently, gold has become an extremely popular investment, and that seems to be a long term trend. Prior to heading into unknown territory, smart investors spend time learning about the target market. Put these tips to use and watch the extra money flow in.