Let Your Portfolio Shine With These Gold Tips

October 13, 2013 by ·

Many people are scared about hyperinflation, and buy lots of gold as a hedge against this event. Unfortunately, dealing in the gold market is not foolproof, making it possible to confuse even experienced gold investors. Read on to learn all the details of the gold trade.

When selling gold, it is a good idea to get an estimated value from more than one source. Dealer prices vary by store. You’ll get a fairer price if you’ve gotten a few estimates.

Precious Metals

Be well informed about the value of precious metals before buying or selling gold. The values of precious metals fluctuate daily, so be certain you know the spot price before any transaction. You need to get ready to pay higher prices than mere melt value on fractional pieces as opposed to one-ounce pieces.

Always check out the up to date market value for gold before you seek your gold jewelry. Gold dealers cannot scam you out of money when you are informed about the value of your items. Though many deals will provide you with its true value, others will try to deceive you so they can get a better deal for themselves.

If you’re not sure about the value of your jewelry, you can have an appraisal done. Paying a professional to appraise your item is a good investment. In order to maximize reliability, make sure the appraiser is independent and accredited. Do not expect to get the full value of the appraisal, but you should try finding a buyer who will give you an amount as close to the appraisal as possible.

If you will be selling your gold, shop around for best prices. Prices paid will vary from shop to shop. Stores which are not centrally located may be able to give you a better 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. Most companies will give you free shipping to them but charge you an arm and a leg for return postage. Be sure that you find out ahead of time how much it will cost to get back your jewelry.

When you try to sell gold, you must research the market to find the right price. Also, ask around to find out how much similar pieces are going for. This allows you to get an idea of what you should be asking for. Begin the negotiations by asking for more than you expect to receive.

Don’t sell your items to the first buyer you come across; always get a few quotes. You might just be shocked at the spread of offers you wind up getting! By picking the first dealer, you could get a horrible deal. Taking your time can really end up getting you the best deal out there.

A choice many people use when selling gold is to ship it through the mail. Although this process may be easier, you may not earn as much money. You obtain a prepaid envelope, put the jewelry in it, ship it, and get a check for it. Keep in mind that most of these companies do not pay as much money as other places. You might even take a thirty percent loss. Understand that going in.

Get to know any dealer you’re going to buy gold from. To ensure you are dealing with a trustworthy dealer, inquire with the area BBB. Get in touch with the BBB to find information about which complaints, if any, have been filed. If there have been complaints filed, consider using a different dealer.

Over the past decade, gold prices has quadrupled, which is great news for gold investors. The exact best time to really buy gold is not fully known, but it largely depends on how the dollar does. Usually, the price of gold goes up when the dollar’s value goes down.

To be a smart investor in gold pieces, learn how to test for the grade. Purity of cold is measured by karats. The higher the karats, the more pure and the more expensive it is per ounce. Never go by the stamp stating karat weight. If you can test the gold for purity, you aren’t going to pay too much for pieces of low quality.

Make sure you look into the buyback policy of a seller. Gold buyers sometimes charge premium rates in order to resell gold. Think of the logistics involved in mailing heavy packages of gold coins or bars to a dealer in another part of the country. It is best to take the gold as soon as you purchase it from your local dealer.

Gold Coins

Gold coins minted before 1933 are a good way to get some exposure in the gold market. President Roosevelt recalled all gold coinage in 1933. Until that time, they were used in daily commerce. However, a lot of people kept their gold coins which you can still buy from dealers today.

Know you aren’t going to get the full price for any gold you sell. Gold dealers work like most other businesses. Try to get the best deal you can while still making the price attractive to the buyer. Expect to receive offers that are 30 to 50 percent below the total value.

It is impossible to deny the critical role gold has long played as a means of securing and solidifying personal fortunes and even more modest levels of reserves. In order to successfully trade gold, however, one must know a great deal about the process. Hopefully, you now know what you need to do to get started.

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The Golden Dream: Making Money With Gold

October 10, 2013 by ·

With the current state of the economy and value of the dollar, many people are investing in gold. If you are interested in making the most of the opportunities presented by gold, this article is for you. Keep reading to get helpful advice.

Before buying or selling gold, know how precious metal prices work. The value of gold tends to fluctuate, which is why it is important to understand the market trends. You must be prepared to pay higher percentages over the melt values for fractional gold pieces like 1/10, 1/4th, and 1/2 ounces versus one-ounce pieces.

Think about selling your gold online. You don’t need to visit an actual store to do this. You can find a lot of websites to sell gold. You will get a kit to return gold. They end up paying you once they receive it, but they usually won’t pay you a lot.

Gold Jewelry

You might be shocked by how much gold costs these days. You still can get gold jewelry items without spending a lot at a local jewelry store. It is easy to get great deals on gold jewelry from online retailers or pawn shops.

If you are thinking about selling some of your gold jewelry, know what the going market price for gold is. This way you will know if a dealer is offering you the proper amount for your items. Most dealers are honest and stick close to market value, but a minority try to rip desperate people off by low-balling their offers.

Have a professional appraise your gold jewelry if you do not know how much it is worth. This will cost a little money up front, but it’s important to know what you have. Make sure you go to an accredited and reliable appraiser to get valid appraisal papers. Understand that you probably will not get the full appraisal price when you sell your gold.

Check the price when you are buying gold. Many sites offer this information, plus it changes every day. When you actually go to buy, do not pay more than an eight percent markup over this price. Paying that price would simply be unfair to you.

Talk to someone at a gold party to learn how they figure out the number of karats in a jewelry piece. Is it based on the stamp? There are ways to determine a piece’s purity if no stamp is present. Acid tests are an easy way to determine value.

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. You can usually find out about complaints and customer reviews. Heed any complaints to see if the company resolved them or not. If you see that there are a lot of unresolved complaints, you may want to go with someone else.

If you want to sell your gold, you should divide it in different lots in function of the karat weight. This makes selling it much easier and prevents the vendor from trying to scam you. That always means less cash for you. The way around this is to present the gold to the buyer pre-separated so that you get fair market value for each piece.

Avoid selling gold for no reason. Gold prices always go up. Why not wait until you can get a better price? Holding onto your gold might mean some serious money over time.

Karat Value

When you are in the market to sell your gold, first thing to do is separate each piece into their different values of karats. Gold prices vary based on karat weight. Therefore to get the best money on your investments, it should be separated by karat value. Higher karat value translates to higher value overall.

Most people know how gold has helped people become wealthy. Since the economy has faltered in the last several years, we are now seeing a rise in people participating in the gold market. Hopefully, you find the advice and suggestions from this article beneficial in helping you build solid wealth through gold.

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How To Make Use Of The New Gold Trends

October 7, 2013 by ·

Gold prices vary daily; however, it is always slowly rising. With a precious metal like gold, there is always a market that is ripe for buying, trading or selling. When the economy suffers, gold benefits. This article will show you some simple ways you can start taking advantage of this precious metal.

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 have made the call to sell any gold you have, group your pieces by karat value. Try not to sell jewelry items that are valuable due to their maker.

Be sure to find a reputable gold buyer to do business with. You can check out their reputation by contacting the BBB and checking online reviews. If you are being offered good customer service and an honest price for the gold, then you are dealing with a reputable buyer. Protect your invest and look into these companies.

If you want to send jewelry to a gold company via mail, check them and their conditions out carefully before going to your post office. Make sure you know when payment will be sent to you and insure your package as well. Finally, take a picture of everything you are putting in the mail in case there is a dispute later on.

Only buy gold jewelry from a seller if they have a return policy 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.

Melt Value

If you are looking to sell gold, the first thing you need to figure out is if you’re going to offer it up as an entire jewelry piece, or seek the melt value. Most buyers will offer you just the melt value for your gold. If you’re prepared to put more effort into locating a buyer, though, you may make more by selling your pieces as jewelry.

If selling gold using a mail service, find out how much shipping will be. They may not charge you to send it to them, but they could gouge you to send it back. Make sure you know in advance what you might have to pay to get your jewelry back.

Don’t discount the value of looking for gold in vintage or antique stores. You can find bargains in these places. Many people do not realize what they have and sell it or donate it to these shops. If you conduct research, their loss can turn into your gain.

Approach the market with caution. Every marketplace has bad apples, but the gold arena is renown for possessing quite a few. Lots of people will scam you if given the chance. You need to exercise caution and do your research.

Figure out what you’re really in possession of. Just because something looks like gold doesn’t mean it is worth gold’s weight. Some jewelry is a composite of a number of different metals. This will lower the price. Many items are only gold plated. If you don’t know what kind of piece you have, take it in to be looked at before you try and sell it.

Frequently, earring backs are made of solid gold. This is the case even when the earring is not made of pure gold. Necklace clasps and ring bands are frequently real gold too. You can sell these small pieces together. This is various gold pieces in one quantity and it can help you earn more money.

Talk to the BBB before selling your gold to a jewelry store, dealer or gold buyer. Here, you will find information regarding the business, as well complaints and reviews from people who’ve dealt with them before. If there were any complaints, you will want to see how the company resolved the issue. A multitude of unresolved complaints is a good indication you should do business elsewhere.

Clearly, gold provides a reliable measuring stick for the economy. You can take advantage of this precious commodity as long as you understand it. Be sure to keep the advice in this article in mind in order to get on the right path with gold investing.

Filed Under: Gold · Tagged: , ,
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