How You Can Make Money By Selling Gold

November 17, 2013 by ·

There are quite a few people who believe that gold investments are a safe place to put money. Perhaps you are interested in the gold market, but don’t know where to begin. If you do not have a good working knowledge of gold, continue reading. This article will give you tips on investing in gold.

Do not sell your gold without first knowing what it is currently worth. If you have made the call to sell any gold you have, group your pieces by karat value. You should not sell jewelry as gold scraps if its worth is higher because of the brand or design.

Only deal with reputable buyers. Check BBB.org to find out more about the firm. When you choose the right buyer, you will have a great transaction. Make sure that you protect both your investment and yourself.

Before you buy or sell your gold, make sure you understand how the prices of precious metals work. Metal prices fluctuate constantly, so you need to know the price on any given day for a transaction. You need to get ready to pay higher prices than mere melt value on fractional pieces as opposed to one-ounce pieces.

All gold buyers are different, so it is important to look around and find someone that you feel comfortable doing business with. BBB and consumer reviews are two sources of information that can give you an indication of a dealer’s reputation. Check for offers through different buyers to make sure you get the best price for your gold.

Delivery Date

Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. If your seller can’t commit to immediate delivery, get the delivery date in writing. The date of arrival should be something you can see listed. Don’t go through with the order if they can’t provide you with the delivery date in writing.

Check the current price in the gold market before you sell your jewelry. That will help you determine whether or not a dealer is actually offering you a good price for your pieces. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.

Look into buying scrap gold if you can’t afford to get into the bigger market. This can be done over time, maybe some each day so that you can get some valuable gold in about a year. Store your gold in a secure location until enough to cash in has been amassed.

Do a little comparison shopping before you sell jewelry or other gold items, even if you’re looking for a quick cash-for-gold deal. The “spot” price for gold is determined by a constantly fluctuating market, so not every store is going to pay it. Some stores outside of busy urban areas do not have to pay as much on rents as stores located in a shopping mall and will offer a better price.

If you’re using a mail-order gold buying service, make sure you understand any return postage fees you’ll need to pay if you decline their offer. While most firms will pay to have you send them your items, they will charge you a considerable amount if you want them back. It’s best to be prepared so you are not surprised by return shipping charges.

Fine Print

Read the fine print of your sales contract. If you are going to sell gold pieces to a mail-in buyer, look at the fine print prior to selling to them. This helps you understand what you will have to pay in fees and commissions.

If you’re thinking of selling your old gold jewelry and scraps to a gold-buying business, it’s crucial that you check their reputation on the Better Business Bureau’s website first. They will have basic information about the business listed, along with any reviews or complaints from others that have done business with them. Take a close look at complaints, and look to see if resolution was achieved. Too many complaints are a warning sign and it’s a business you should definitely avoid.

Gold investing is a good idea for anyone with some extra money. After reading the tips in this article, you can rest assured that you will make wise decisions. Keep all these tips handy for the future.

Filed Under: Investing In Gold · Tagged: , , ,

The Best Gold Information You Will Ever Find

November 17, 2013 by ·

If you have always wanted to invest in the gold market but have not made the move, this article will help you get started. You should not feel afraid. Learn all you can and begin your gold investment adventure. Investing in gold offers great advantages, which you should take the time to discover.

Look for a gold buyer that has a good reputation. Check with business groups and read online reviews. See how fairly treated former customers feel. When you get bids from multiple buyers, you may be able to get top value for the gold.

If you’re buying gold to save for your retirement, buy the right type. Gold needs to be IRS-approved. It needs to be either 24 karat coins or bullion bars. Bars are generally more valuable than coins and should, therefore, be favored.

If you are buying gold jewelry as a gift, make sure you have a money back guarantee. It’s not uncommon for many pieces to not be the receiver’s taste or the wrong size. By ensuring that the dealer offers a return policy, you can help protect yourself.

Check the price when you are buying gold. 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. Paying that price would simply be unfair to you.

Before you ship gold jewelry to a buying service, find out whether you will be charged for return shipping. If you are not satisfied with the offer, you will have to pay this amount. A lot of companies say they offer free shipping, but if you refuse their offer they charge a great deal. Understand what you will have to pay if you don’t like their offer. Protect yourself.

Approach the market with caution. Markets all have their share of unscrupulous players, but gold is a market that seems to have many. Lots of folks are willing to steal right out from under you. Research gold and gold companies before trading.

Shop around before you decide which gold buyer you will use. You may be shocked to see how different the offers are! Going with the very first buyer who comes along might prove a bad deal. Wait a bit of time so you have the greatest cash in your pocket.

How does the seller know what the karat rating is? The item is stamped, a lot of times. However, you may see no sign at all but there are ways to determine its value. If you see the gold buyer performing an acid test, this is probably somebody who is inexperienced in this market.

Fine Print

Always read any fine print on your contracts. If you’re using a mail-in gold program, read all the fine print prior to committing to the deal. This will show the commission and fees associated with your transaction.

When you go to sell your gold have it separated into how much each karat weight. You don’t want everything thrown together in one pile, because it will all be weighed as if it is the same karat. You will end up losing money. Instead you should go in with pre-separated piles to make the biggest return.

Fine Print

You should read all the fine print of a contract when working with a gold broker. There’s a lot of money involved in this business. Make sure you completely understand the contract you are signing. If you don’t care for the fine print, move on. It’s important to protect your finances.

Never sell gold without a purpose! Gold is always increasing in value, so don’t sell it unless you really need the money. The longer you can keep your gold, the more valuable it will become.

When you are selling gold, sort your gold pieces by their value in karats. If you don’t do this, the buyer is likely to give you the price for the lowest karat. Higher karat values yield higher prices.

If you’ve come across a company over the Internet that buys old gold, shop around for pricing before doing anything. It’s entirely possible that you can secure a better deal by working with a local dealer face-to-face. Just putting your pieces in the mail is easy, but you may not be getting the best price you can.

Like other kinds of investing, gold works better as a long-term investment. Avoid buying it when prices are up. Investing needs more research than that. If you buy in both positive and negative times for gold, you will get a cheaper overall price.

Now you have the knowledge you need to start off on the right foot. Now is the time to get involved with investing in gold using all the strategies listed here. It won’t be long before you start witnessing the perks of being a gold investor.

Filed Under: Selling Gold · Tagged: , , , ,

Learn All About Gold With These Tips.

November 16, 2013 by ·

In recent years, many people have enjoyed the fact that gold has gone up in price, and it has continued to grow with time. As someone who stands to gain a lot from gold, you will be pleased to know that anyone can find success. These tips will help you profit on the gold market.

The market price of gold fluctuates daily, and sometimes even more often than that. You ought to know the latest number prior to trying to sell. If you choose to sell gold items, those with differing karat designations ought to be weighed on their own. Don’t sell jewelry that’s worth more due to maker or designer.

It is important to only do business with people who have a good reputation. Check with the BBB and look at reviews online before you sell your gold to a buyer. A buyer with a good reputation will normally pay the going rate for gold, and offer superb customer service than a company than is not legitimate. Protect your interests and your gold by doing this.

Before selling gold jewelry, see what the current prices are in the gold market. This can help you discern whether you’re being offered a good price or not. Most dealers should sell according to the market, but sometimes they’ll try to scam you if they think you just want quick cash.

If you are interested in trying gold as a commodity, but you are short on capital for investment, start out with buying scrap. You can buy a little at a time, building up a stockpile. This will not break the bank. Make sure you keep the gold secured. A safety deposit box is a good place.

Whenever you make an investment in gold in the form of jewelry, always ensure that you have sufficient documentation and can return it if required. You’re not going to be sure about the jewelry fitting or whether or not a person actually likes the piece. If this happens, then you need to be returning the piece in question for a refund.

Be sure to consult the spot price on the day when you plan to purchase gold. You can see it on various sites and it usually changes every day. Never pay more than 8 percent over the current sales price of gold. Many times sellers will try to sell it at a higher price.

Before you ship gold jewelry to a buying service, find out whether you will be charged for return shipping. If you are not satisfied with the offer, you will have to pay this amount. While businesses may claim free shipping, they may also charge you to send the pieces back. Realize in advance that you’re out money to get back your jewelry.

You need to only sell your gold to buyers that are licensed. While you can still get taken for a ride, licensed buyers tend to be more reliable. Many individuals, pawn shops and jewelry stores are interested in buying gold. Be picky about your buyers.

You should have a basic overview about the different methods for selling, trading and buying gold. Once you are ready to get started, you should be able to do well if you work at it. Just make use of this article’s suggestions to be better prepared.

Filed Under: Gold · Tagged: , ,
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