While gold values fluctuate like anything else, it’s true that it tends to increase in value overall. Any precious metal, especially gold, always has a verdant market for trading, selling and buying. In hard economic times, gold values go through the roof. Keep reading to learn more about the gold market.
When you invest in gold, you can’t go wrong with bullion bars. They are available in various weights. The weights range from 0.5 oz to 400 oz bars. The smaller bars are more common, while the larger ones are harder to find.
Be well informed about the value of precious metals before buying or selling gold. Prices of precious metals fluctuate everyday, so pick a day to check on the spot price before you buy or sell. You must to pay a premium to the melt values if you’re buying less than one ounce pieces.
You may shy away due to gold’s price, which may make you go for gold-filled or gold-plated jewelry instead. You still can get gold jewelry items without spending a lot at a local jewelry store. You can usually find more affordable gold jewelry online, or if you visit pawnshops.
When purchasing gold, check to see if the dealer offers a return policy. It is impossible to tell if a jewelry item will be well liked or suitable. If that should occur, it is important you can return the piece for a full refund.
If you don’t know what your gold jewelry is worth, consider having an appraisal done. While there is a cost involved, you will at least then be fully aware of what you own and what it is worth. Use an accredited appraiser for best results. When you sell, you won’t get the whole appraisal value, though.
Make sure you know the spot price of gold the day you plan to buy or sell. This information can be found on several different websites. Paying for gold that is any higher than an 8% markup is not a wise investment. Many dealers try to overcharge you; however, by being informed you can avoid this trap.
GoldMoney can be a good resource when buying gold. This is like opening a bank account for gold. You create an account and fund it; then your account is given some gold at the market price. The gold is in a vault being protected, but you can sell it or even have a bullion bar shipped to you.
To verify that a particular piece of jewelry isn’t simply plated, you can try testing it yourself with a magnet. Gold and other real precious metals aren’t attracted to magnets. Certain pieces have a clasp made of real gold while the remaining parts are plated. This can be a useful method of testing for that.
When at a gold party, talk with the rep about how they make the determination on the karats of the jewelry being sold. Items are usually stamped. There are ways to determine a piece’s purity if no stamp is present. Using an acid test can be a great way to determine the karat of the gold.
Do not sell any jewelry solely for its gold content without seeking an appraisal. This rings true especially concerning pieces that are one-of-a-kind. Even though there is an appraisal fee, you could see a lot of extra money in your pocket. This is also a great way to locate buyers who might be interested in your gold.
As you likely know, our economic system weighs itself against gold. To take advantage of this market, learn all you can today. Be in control of your gold investment by using these tips.