Getting Your Gold To Work For You

January 5, 2014 by ·

Getting into gold is a great way to make sure you’re taken care of in the future. You might have thought about the gold market, but perhaps you don’t know where to begin. This article should help you. Keep on reading to learn more about what you need to know about investing in gold.

Bullion bars are an excellent gold investment. These come in various weights. Bars may be a half ounce, 400 ounces or anything in between. It will be harder to find the bigger bars.

Do you know how pricing on precious metals works? Metal prices fluctuate constantly, so you need to know the price on any given day for a transaction. You must to pay a premium to the melt values if you’re buying less than one ounce pieces.

If you’re thinking of supplementing your retirement funds with the help of gold investing, it’s important to understand what type of gold to invest in. It’s crucial that the gold be IRS approved. It has to be in the form of 24-karat gold bullion or coins. Gold bars tend to hold their value better than gold coins.

Only buy gold jewelry if you can return it. You never know if the jewelry will fit someone else or if the person will even like it. If you have the receipt, they can easily trade in the piece for something more to their liking.

Always check the daily spot price before you buy gold. Many websites update this information daily. Never pay more than 8 percent over the current sales price of gold. Some dealers are going to try and charge you more, but don’t pay it.

There are many sites where you can purchase gold, such as GoldMoney. It’s like opening a bank account, but for gold. You establish your account and deposit your money, and they assign you a certain amount of gold equivalent to the value of your initial deposit. The gold resides in a bank. From there, you can sell it or do a number of other things with it.

When dealing with any gold buyer, make sure you shop around before making any final decisions. The different prices you receive might shcok you. Selling your gold to the first dealer you see could result in a very lousy deal. Get the most money for your gold by spending time to comparison shop.

Remember to research the gold market prior to investing any money. Some people will make false claims to try and get you to invest. But, beware of over the top promises about getting wealthy. You will certainly avoid the getting rich quick way of thinking if you have realistic expectations.

Make sure you read fine print in any sales contract to a full understanding. This is especially true if you decide you want to mail your gold off to a buyer. This helps you see how much is paid toward commissions and fees.

Talk to the BBB before selling your gold to a jewelry store, dealer or gold buyer. You should easily find basic facts concerning the specific business, as well as complaints and reviews from previous clients. The key thing to look for is how complaints against the business were resolved. If you see many complaints, then you need to find another business.

Gold investing isn’t just for experienced investors, but it can also be for people that want yo put their money in a safe place. Since you read these excellent tips about buying gold, you can feel secure knowing you are making wise choices. Refer to this article whenever you have a question.

Filed Under: Selling Gold · Tagged: , , ,

Simple Steps To Help You Better Understand Gold

January 5, 2014 by ·

Gold is a great investment to help balance your portfolio. However, you have to know what you are doing, and you have to think about the choices available to you. Keep reading to learn more about how to make good investment choices when it comes to gold.

Stay with reputable firms when selling gold. You are able to find out more about their reputations with the local BBB and through online reviews. A reputable buyer will typically pay you a fair price for your gold, and they will offer better customer service than less reputable buyers. Don’t let yourself be taken advantage of.

Prior to doing anything with gold, be it buying or selling, you must become knowledgeable about how pricing operates. With silver, platinum and gold the prices vary wildly throughout the day, and in order to get the correct price you must spot check it on the day before making a purchase. You may have to pay higher prices, though, for pieces that have a small fractional measurement.

Always do your homework to find an honest and reputable gold buyer. Check online reviews, BBB.org and their websites. When you get bids from multiple buyers, you may be able to get top value for the gold.

Market Value

Always check out the up to date market value for gold before you seek your gold jewelry. Doing so will help you figure out if a dealer’s offer is a good one or not. Many dealers will pay market value, however others rely on people desperate for cash to get the most for themselves.

You can get into the gold market with just a small investment in scrap gold. Invest small amounts of money in scrap gold. After a few months, you will have accrued a significant store of gold. Store your gold in a secure location until enough to cash in has been amassed.

Comparison shop when selling old gold jewelry. Bear in mind that the market price for gold you can find online (the “spot”) is only an average; different dealers will offer you different prices under (or even over) the spot. Look for stores off the beaten path as they often have lower overhead and better deals.

If you intend to convert your gold jewelry into cash, you’ll have to choose between selling it as jewelry or for the “melt” value of the gold it contains. Many private buyers and pawn shops are only willing to give the melt value. Don’t let this discourage you, because you will eventually find the buyer you are looking for.

Licensed Buyers

Sell to licensed buyers only. Licensed buyers are generally more reputable than unlicensed buyers. Never sell without doing research and verifying the dealer is licensed.

Understand what you really have. Even though the item looks like gold, it may not have much value. Quite often, other metals are mixed with gold to give some strength to the metal. This will lower it’s worth. Gold plate is also not very valuable. When you don’t know what you’ve got, have it appraised ahead of selling it.

With luck, you now feel comfortable adding gold to your portfolio. It’s a good investment that can help tide you over beyond your current retirement funds and other types of investments. Understanding the different options and how they will affect your investments will help you buy and sell gold confidently.

Filed Under: Precious Metal Trading · Tagged: , , , ,

How To Support Yourself By Investing In Gold

December 29, 2013 by ·

More and more are investing in precious metals, seeing as the dollar’s value has increased. Customarily when the value of currency lowers, the value of gold begins to rise. Read these tips to make the most out of what gold can do for you.

Read reviews and do your research before choosing a dealer to buy your gold. You can look at online reviews, check at the consumer protection organizations or read on message boards about complaints. Ensure you receive the maximum amount for your gold by shopping around.

Make sure that you understand the terms when sending jewelry back through the mail. You should find out how long the process takes, and get package tracking and insurance on your package, too. The final step is to take photos of your jewelry, just to be sure you can fight any future problems that may occur.

Find out the spot price for gold on the day that you’re planning to buy. This price can be found on a number of websites. Never pay any more than an 8 percent markup on the gold prices. Some sellers try charging more, but that’s overcharging, which is generally unethical.

Figure out what you’re really in possession of. Even though the item looks like gold, it may not have much value. A lot of the time there will be something mixed with the gold so it holds up better. This may lower the price. This also applies to gold plated items. If you don’t know how much your gold is worth, then it would be wise for someone to appraise its worth if you intend on selling it.

Comparison shop when you are choosing a buyer. The offers may be hugely varied. If you don’t shop around, you may not get what you are owed. Invest the time into the process, and you will be rewarded in the end.

Use a magnet to test inexpensive jewelry to determine if it consists of steel. Gold is not magnetic. Often the clasp of a piece is real gold, while the rest of the piece is just plated. That’s a great way to make sure.

Before selling your gold, separate it into different karat weights. 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’ll lose out on a lot of potential profit this way. Separate and weigh your gold so you know the true value before selling.

You can sell your gold through the mail. Most sellers enjoy this process so much due to its simplicity. You get a prepaid envelope, you put your jewelry in and you ship it off, only to get a check in return. You must know that you might not get the best price for your gold handling your business this way. Some of these outfits pay you a third of the money for the item than you might get elsewhere, so be cautious.

Precious Metals

When you want invest in any precious metals, you should know the various strategies. A lot of people like coins or bullion, and other people love buying stocks in precious metals. The tips above will help you decide on your own personal strategy.

Filed Under: Selling Gold · Tagged:
« Previous Page
Next Page »