Are You A Gold Lover? Read This

November 16, 2013 by ·

Many people look towards the gold market as a means to keep their investment portfolio safe. Gold is considered by many to be a solid choice if you are looking for a stable investment even when the general economy is rocky. Just check out the handy tips below to learn how to take full advantage of your own opportunities for gold investing.

Gold’s price is always changing, which makes it important to know your piece’s value before selling it. If you choose to sell gold, weigh and value pieces that have different karat values separately. Never sell any jewelry as gold scraps that’s worth more than the gold itself due to the designer.

Think about having your jewelry appraised if you are not sure of it’s true value. Even though it is an extra expense, it can be well worth the investment. An independent appraiser should be used in order to receive the best value. When selling gold jewelry, you will receive only a percentage of the appraised value.

Melt Value

When it comes to selling gold, you must decide if you are going to sell it just for its melt value or as a jewelry piece. Many private buyers and pawn shops are only willing to give the melt value. Don’t get discouraged if you are looking to sell jewelry, as buyers are still out there.

Check the prices of golds the day you plan to buy. You can find that on a lot of websites, and that can change every day. When you do buy, avoid more than an 8% markup. While many companies attempt to charge more, this is simply not ethical and should be viewed with caution.

No matter the excitement gold buying brings, do not spread the word. You don’t know who to trust or who is listening. Do not tell others about your investment, and keep it locked up either in a home safe or at a bank. This will keep you and your gold protected under any circumstances.

Do your research before selling gold. Also, ask around to find out how much similar pieces are going for. This is a price point that you can work with. In order to be able to negotiate, you ought to give a price above the amount you really want.

One option when selling your gold is to send it away in the mail. Many people prefer this option because it is really easy. You put jewelry in a prepaid envelope and you’ll eventually get a check. Places that use this option usually pay a lesser amount. In some cases, you could get about 30 percent less for an item, so just be aware.

Gold can often be a lucrative but volatile investment. If you’re not ready for a roller coaster ride, gold investing is probably not for you. Even if you are okay with taking the risk, you need to prevent downside risks. Never invest more than a sliver of your total portfolio in gold. Stick to a limit of five percent.

Great news for gold owners: gold has gone up in price over 400 percent in the last decade. Nobody really knows when the best time to purchase gold is, as it mainly relies on the price of the dollar. When the dollar loses value, the value of gold increases.

Map out your goals prior to investing in gold. Although gold can add a nice balance to your portfolio in case of rough economic times, it is still considered an investment that fluctuates wildly. If you keep yourself protected, you’ll end up making more money with your gold.

Getting into gold isn’t that hard if you understand the ins and outs of the market. Now that you know some helpful information about gold, you should feel comfortable going into this market. Make sure you put the strategies learned to good use as you invest wisely.

Filed Under: Precious Metal Trading · Tagged: , ,

Tips To Help You Make Money With Gold

November 14, 2013 by ·

What would you say if I told you an investment in gold could provide you with the answer to all of your prayers? Only if you have the right knowledge can you turn a profit large enough to retire on. The information below is an introduction that offers expert advice about gold.

Before buying or selling gold, know how all the 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.

Sometimes the cost of gold causes buyers to go for cheaper imitation jewelry instead. You can still buy gold jewelry without spending too much at the jewelry store. Online auctions, estate sales and pawn shops are only some of your options.

Be sure to select carefully when considering taking your gold to a pawn shop or jeweler for sale. Many stores do not pay the going rate for gold. Stores located apart from larger shopping centers may have fewer fixed costs and are thus, able to pay higher prices.

It’s always a good idea to verify the spot price before making a purchase the same day. This price can be found on a number of websites. Never pay any more than an 8 percent markup on the gold prices. Occasionally an unethical dealer may try to overcharge their customers.

If you decide to mail your gold to a buyer, find out how much mailing and insuring these items will cost you and how much you will have to pay to have the items mailed back to you in case you do not accept the buyer’s offer. They may not charge you to send it to them, but they could gouge you to send it back. By knowing this information ahead of time, you can prevent unnecessary charges.

You can use a magnet to test precious metal inexpensively. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. Sometimes only the clasp is solid but the rest is plated. You can test your jewelry this way.

Ask the gold party representative about how the gold’s purity in karats is determined. Many times the item will have a stamp. However, if there are no visual indications, there are other ways to determine purity. 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.

Solid Gold

Sometimes an item will have solid gold backing; although, the jewelry is not solid gold. Ring bands, clasps on necklaces, and other easy-to-overlook bits of jewelry also often have significant gold content. These pieces don’t weigh much, so try selling them all as a “lot.” A lot is a collection of separate pieces weighed and sold together; selling off jewelry in lots is often the best way to get maximum value.

When you go to sell your gold have it separated into how much each karat weight. When you try to sell your gold as one large group, the seller might attempt to weigh everything at the karat weight that is lowest. You will lose money that way. Before making your trip, have your pieces separated before you walk in.

One option when selling your gold is to send it away in the mail. Many sellers enjoy this method due to how simple it is. You ship your jewelry in a prepaid envelope, and then you receive a check. One thing to consider, though, is that the majority of these places won’t pay nearly the same amount as a local place in your area. You might even take a thirty percent loss. Understand that going in.

Although you will not find fortune overnight, it is possible to attain impressive profits over time. A series of modest goals, combined with dedication, will lead to success. The race is won by those slow yet steady. You can enjoy the full process when you don’t force it.

Filed Under: Investing In Gold · Tagged: , ,

Wondering What All The Fuss Over Gold Is All About? Check Out This Advice Today!

November 13, 2013 by ·

The price of gold seems to be going up and getting higher everyday. If you are interested in getting involved with this market, know that you can deal with gold like a seasoned pro. By following the tips presented here, you can earn a good profit selling gold.

Get your gold valued by multiple sources. Different gold purchasing entities are at your disposal, and they all require different profits from the purchases. Therefore, it is wise to get several offers to ensure the best price.

When you invest in gold, it is a good idea to go with buillon bars. They come in varying weights. They can be as small as half an ounce or as large as 400 ounces. Be aware that if you are looking for the biggest bars, you will have a difficult time locating them.

When entering the gold market you will want to have an idea on how the precious metals prices are determined. The value of gold tends to fluctuate, which is why it is important to understand the market trends. Gold pieces with fractions of an ounce will command higher prices than pieces weighing one ounce.

All gold buyers are different, so it is important to look around and find someone that you feel comfortable doing business with. Check for online reviews and reports from the BBB and see how these dealers resolve complaints from their customers. Talk to several different buyers and get quotes from all of them to ensure you get the best price for your items.

Why not make money selling your gold to online buyers? Gold transactions do not require traditional physical storefronts. You can also choose to use an independent online site to that specializes in buying gold. You will get a kit to return gold. If everything is okay, they will pay you whatever their current rates are.

It is important to invest in the right type of gold when doing so for your retirement. You must have IRS approved gold. It has to be in the form of 24-karat gold bullion or coins. Consider buying bars instead of coins, since they tend to be more valuable.

Get an appraisal to find out the exact value of your jewelry. Paying a professional to appraise your item is a good investment. Make sure you go to an accredited and reliable appraiser to get valid appraisal papers. If you choose to sell your piece, know that you probably are not going to get the full appraisal amount.

If you are shipping jewelry, be certain you find out how much it’s going to cost to get your pieces back if you fail to accept their offer. Even if you do not pay for shipping the gold initially, return shipping is an entirely different matter. Be sure you have an idea how much it will cost you to reclaim your items.

Use GoldMoney to buy gold. It is kind of like setting up a gold “bank account.” You create an account and fund it; then your account is given some gold at the market price. Your gold sits in a vault until you decide what you wish to do with it next.

Don’t brag about your gold purchases, no matter how excited you are. You don’t know who could try to keep tabs on this, and you don’t want to have to worry about trusting people. Stay quiet about the investment and make sure you keep it safe. This will keep you and your gold protected under any circumstances.

A magnet can be used as a cheap and fast way to determine if a piece is really made of gold. Real precious metals do not stick to magnets. Sometimes only the clasp is solid but the rest is plated. This is a good way to test that.

Do not sell any jewelry solely for its gold content without seeking an appraisal. This is true for pieces made with fine craftsmanship. Even though the appraisal will cost you money, you may get more for your jewelry in return. They may even give you a reference to a buyer.

Never sell gold to a dealer or store with checking their ratings with the BBB first. The BBB has information about each business including any complaints or reviews from others who have used their services. If there were any complaints, you will want to see how the company resolved the issue. If they have a ton of complaints or many that are unresolved, you should consider a different business.

Gold values continue to skyrocket as they have over the previous decade. This is excellent news for anyone who owns gold. No one knows whether it is smart to invest in gold right now or not, though. The weaker the dollar is, the stronger gold prices are.

Now that you have read this article, you should have a head full of ideas about how to get started in dealing with gold. However you decide to get involved, if you work hard you can do a great job. This article should have prepared you to be an investor.

Filed Under: Gold · Tagged:
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