What You Need To Know About Buying Gold

October 3, 2013 by ·

Gold is something that many people love, but do not know much about. This makes it difficult to get all the benefits of gold. If you are not gold-savvy, these tips can help you.

Understand the spot price of gold before selling any. When selling gold, be sure that items of differing karat values are weighed separately. Stay away from selling high-end jewelry pieces because they have more value.

Go with a reputable gold vendor when selling. Their reputation can be verified though online sources, as well as the BBB. A good buyer will treat you well and offer a fair price on your jewelry. Do your homework in order to safeguard both you and your financial investment.

Prior to selling or buying gold, be certain you know how precious metal pricing works. The value of gold tends to fluctuate, which is why it is important to understand the market trends. You must to pay a premium to the melt values if you’re buying less than one ounce pieces.

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 can’t be sure when jewelry is liked by the other person or if it even fits them. If the gold turns out to be fake, make sure you get your money back.

When looking to sell gold and you’re not sure of the value, look at getting it appraised. The small investment required will ensure you get what your jewelry is worth. Find a reputable appraiser, however, to visit. Remember if you sell, you will not receive the full price of the appraisal.

Spot Price

Be sure to consult the spot price on the day when you plan to purchase gold. The spot price is readily found on the Internet. You shouldn’t pay more than 8 percent over the spot price. Some dealers are going to try and charge you more, but don’t pay it.

When selling gold, only work with licensed buyers. They are likely to be honest. Lots of shops or individual operators are willing to purchase gold, so you should never feel you need to go with the first offer you get.

Don’t let others know you invest in physical gold. Anyone could be listening and you don’t know who can be trusted. Protect your investment in a secure home safe or in a safe deposit box. This is the best way to protect yourself and your gold investment.

Go through thrift shops and antique stores looking for gold. Just make sure you know what to look for. Seller don’t always know the value of the gold they own. If you do some research, you can benefit greatly.

Karat Weight

The first thing you should do when selling gold is group the pieces by karat weight. If you keep them together, an unscrupulous dealer may try to weigh all the pieces in one batch, then pay you the lowest karat price for all of them. You will earn more if you sell your gold separately by karat weight. Rather, approach the vendor with separated piles in order to maximize your profit.

If you just want to off-load your gold, you should pause. Gold tends to increase in price, so waiting may yield even greater profits. If you’re able to keep your gold, then you may be able to get more benefits from it later on.

Be sure to learn how you can test the grade of gold you are considering purchasing. The purity of golds is measured by karats. Twenty-four karat gold is the purest form of gold and is the most expensive. The stamp on the gold is not always accurate. Testing for gold’s purity will prevent you from paying too much for a poor piece.

Be sure you double check prices before you sell gold online. It’s entirely possible that you can secure a better deal by working with a local dealer face-to-face. Mailing it can be more convenient; however, it may not be worth the hundreds more that you can earn in person.

As this article said in the beginning, no matter what people think of gold, they rarely know much about it. However, having read this article you can no longer say that this applies to you. Use this knowledge to make the best possible choices in dealing with gold.

Filed Under: Gold · Tagged: , , , ,

Fantastic Tips About Gold That Are Simple To Understand

September 30, 2013 by ·

In the investment world gold is top priority. If you are interested in investing, it is important to know what you are doing. You must consider many different things when you are deciding whether to buy raw gold or purchase shares. Keep reading to get more information about investing in gold.

Get a value from a few buyers before selling your goal. There are many buyers who purchase gold, but prices vary from one professional to the next. Getting multiple offers allows you to understand what you can get for your gold.

Bullion bars are usually the safest way to invest in gold. They are available in various weights. Bars may be a half ounce, 400 ounces or anything in between. A heavier bar may be more difficult to find, however.

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. When selling gold, be sure that items of differing karat values are weighed separately. Stay away from selling high-end jewelry pieces because they have more value.

Never deal with a gold buyer or seller who does not have a favorable reputation. Check with the BBB and look at reviews online before you sell your gold to a buyer. Reputable buyers usually pay fairly for gold, and they often have much better customer service versus the less reputable ones. Do this to protect yourself and your gold investment.

You might balk at the high cost of gold, causing you to select gold-filled or gold-plated items. But, it is still possible to purchase gold jewelry without having to go to a jewelry store and spend a fortune. Try visiting a pawn shop or looking online instead.

If you’re sending your gold to some company via the mail, check them out before doing business with them. Find out when you can expect your payment, and make sure you insure your package. Take pictures of anything you send so that you can settle any disputes that may occur later.

If you have an interest in getting into the gold markets, but don’t have a lot of investment capital, consider buying scrap. This can be done over time, maybe some each day so that you can get some valuable gold in about a year. Store your scrap gold in a secure location until you are ready to sell it.

Compare different gold buyers if you want to sell some gold jewelry or gold scraps. The current value of gold may be one price, but that certainly doesn’t mean every buyer is willing to offer it. You might get a better deal at a store not in a major shopping mall, since their overhead and rent is lower.

You may even be able to find old gold at thrift shops or garage sales. You can find bargains in those places when you’re aware of what you want. Many people donate or sell to these places at low prices because they don’t know what they own. If you do some research, you can benefit greatly.

Be careful when dealing with the gold market. As with any market, there is unsavory, dishonest people. This is especially true when it comes to precious metals. There are plenty of honest dealers; however, there are also people who are only out to steal your personal information. Do your homework before giving anyone your business.

Now that you’ve read this article, you know there is a lot to know about buying gold. You are better able to make a decision about fitting gold into your portfolio. Follow this advice to begin making money through gold investment.

Filed Under: Gold · Tagged: , ,

Gold And Everything That Needs To Be Known About It

September 26, 2013 by ·

While the price of gold is always in flux, one thing that can be counted on is that the general value is always rising. Being that gold is highly sought after you can always expect that there will be a market for it. Tough economic times usually entail a rise in the price of gold. Keep reading to learn how you can take advantage of the gold market.

When entering the gold market you will want to have an idea on how the precious metals prices are determined. Gold, platinum and silver prices tend to fluctuate daily, so make sure you check the spot price on a specific day before you make a transaction. A higher percentage over the melt should be expected when purchasing fractional gold pieces such as 1/2 or a 1/4th ounce against a one ounce piece.

Comparison shop when it comes to selecting a buyer. The BBB website and other online forums are excellent resources for information on customer satisfaction and a company’s standing. Also get more than one offer for your gold. This will ensure you get the best possible price.

Think about selling your gold online. You don’t need to visit an actual store to do this. Just visit a reliable website that will buy your gold. Most sites work by mailing you a mailer or kit. You then use your mailer to ship the gold. You will receive payment based on the current market value of gold when your items arrive.

Before you purchase a gold piece, know when it is going to be delivered. If this is not possible, make sure you get a written contract outlining when the items will arrive. The date on which you can expect to receive the items should be provided. Only go through with your order if you obtain this document.

Before you mail any jewelry to a particular company which purchases such items, be sure to do your homework and check out the company thoroughly before you do so. Be sure you figure out when you’ll get sent a payment, and be sure things are insured too. Take a photo of what you mail to battle against disputes down the road.

Ensure that your retirement investments are approved. Your gold has to be IRS approved. It needs to be either 24 karat coins or bullion bars. Lean towards buying the bars over the coins as they hold more value than coins.

When you buy gold for another, make sure it has a return policy. People’s tastes are different and you don’t know the whether the person will like what you buy. If this happens, you need to return it for a complete refund.

If you’re clueless about the value of your gold jewelry, have it appraised. Although you’re spending some money up front, at least you’re getting fair market value for your items. Look for an independent appraiser who is properly accredited if you want the most accurate value. Even if you still choose to sell, do know that you aren’t going to get the appraised value.

As you probably are aware, gold is what the financial system weighs its value against. Take advantage of this commodity that fluctuates daily by understanding it to get more out of it, and then secure any financial goals you have. Use what you’ve just learned to find your pot of gold.

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