All dedicated investors need to have commodities in their portfolios. Gold is the number one commodity available. In this article, we will give you good tips for making money with gold for any reason.
Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. If you don’t get delivery immediately, get something in writing which confirms delivery of your pieces. Make sure that a specific date is listed within this writing. Proceed with the order only if you get this confirmation.
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. Insure your shipment, and get a solid confirmation of when you can expect to be paid. Lastly, take a photo of all that you placed in the package in case there’s an issue later.
Realize that all items containing gold have some sort of resale value to dealers. It could be a broken jewelry item, table settings, home decor items or anything that is in the house. Even things that are not pure gold can have value. Items that are gold plated or filled are also valuable. Any amount of gold will get you back a nice amount of money.
Comparison shop when selling old gold jewelry. The current spot price for gold is considered as a national standard but not all buyers will offer this price. Look at places where it costs less for the company to do business, so they can pay more for the gold.
When selling gold, only work with licensed buyers. There’s always a risk of getting ripped off, but a buyer who is licensed poses far less risk of this occurring. There are plenty of buyers for gold, so do not think that you must make a sale to the first buyer that you meet.
Gold Market
Be careful before getting involved in the gold market. There are many scammers in the gold market. Many people want to keep the money you are owed for themselves. You have to do your research to keep yourself safe.
In many cases, earing backing are solid gold even the total piece is not. Sometimes rings are only partially gold, and sometimes necklaces just have gold clasps. The weight is low, so sell these items together. Selling in quantity increases your profit.
Be sure to check the credentials of all gold buyers, jewelry stores and dealers with the Better Business Bureau. Here, you will find information regarding the business, as well complaints and reviews from people who’ve dealt with them before. Look closely at complaints to find out whether or not they were satisfactorily resolved. If the purchaser has any unresolved complaints, steer clear of them.
Karat Weight
Be sure to separate all your gold items by karat weight before sale. When you get into the weighing process during the sale, the vendor may try and trick you by weighing everything together at the lowest karat weight. You will lose money that way. So keep each piece separated to ensure you get the most you can.
By now, you probably feel more confident in your knowledge of gold and all it entails. Apply this understanding and boost your investment portfolio starting now. Keep these tips on mind and continue securing success with gold.