Gold Info You Ought To Know About

October 29, 2013 by ·

If you are looking to invest in the gold market, you have made a smart decision that can help round out your portfolio. However, you need to understand all you can about the gold market. This article will help you to understand what some of the advantages of gold buying and selling are.

When selling gold, it is a good idea to get an estimated value from more than one source. There are many places to get this done, and some will pay you more than others. By getting multiple estimates, you can be assured that you will get a fair price when you sell.

When you sell gold, deal with a reliable buyer. You can find out if they’re trustworthy by looking at the BBB reviews. A legit buyer will offer a fair amount for the gold you have. Protect your interests and your gold by doing this.

Gold Jewelry

You may think that solid gold jewelry is too expensive and choose to purchase gold plated or filled jewelry. However, you can still find a deal now and then, which you can turn around and sell for a profit. There is cheaper gold jewelry at pawn shops or online.

You must be sure to purchase the right type of gold if you hope to rely on it in your golden years. The gold has to be IRS approved. They must be 24 karat bullion bars or coins. You should be more inclined to buy gold bars, which hold greater value than coins.

When selling gold, you must decide whether you’re selling a piece for its melt value or just jewelry. You will see that pawn shops and private buyers only pay melt value. Don’t let this hamper you, because you’ll find the right buyer eventually.

Spot Price

When you decide on buying gold the first thing to do is look at the spot price. Many websites update this information daily. Never buy something listed at more than ten percent of the spot price. Some sellers try charging more, but that’s overcharging, which is generally unethical.

When considering mailing your gold away for sale, be certain you know how much return mail will cost should you change your mind. A lot of companies say they’ll let you ship for free, but to get things back they charge quite a bit. Be sure that you find out ahead of time how much it will cost to get back your jewelry.

To verify that a particular piece of jewelry isn’t simply plated, you can try testing it yourself with a magnet. Real gold won’t stick to a magnet. In some cases, jewelry may have a clasp that is made of gold, but the rest of the jewelry piece is made of plated metal. A magnet is an easy way to test.

Confer with the gold party rep to determine the method used for judging karats. A lot of the time you’ll find a stamp on the item. Sometimes, however, there is no visual sign, so many representatives have other methods of figuring it out. If you see the gold buyer performing an acid test, this is probably somebody who is inexperienced in this market.

When you make a transaction with a gold buyer or seller, make sure you understand all the terms. This business is about the dollar signs, and you must recognize this. You need to know what you’re signing. Don’t be afraid to pass on anything that has terms you don’t agree to. Protecting yourself is hugely important.

In order to become a great trader, you need to learn how gold is tested. Gold purity is measured in karats. As you higher in the number of karats, the more valuable the piece of gold is due to its purity. Don’t just believe the karat value expressed by the karat stamp. Knowing how to test the purity of gold will ensure that you will not overpay for poor quality.

Research the buyback policy of each prospective buyer and seller. Certain buyers assess premiums for reselling your gold, whereas others will not. Figure out if it is worth sending out big gold coins or bars to buyers not located in your area. It is best to take the gold as soon as you purchase it from your local dealer.

Investing in gold on the long-term is a good strategy. So, don’t just purchase gold in times when it is high in value. Wait for prices to become lower before investing in gold. Buying gold steadily over time as the value rises and falls actually give you a better return over time.

Don’t get into a complicated situation if you’re just starting out as a gold investor. Avoid complicated investments such as gold futures. Futures are not only complicated, but they tend to change. You can lose a lot of money in a hurry if you don’t know what you are doing. Let the more experienced investors deal with complex investments like this.

Gold Coins

If you can, buy American gold coins minted before 1933. Gold coins were used every day until that year when President Roosevelt recalled them. Many people kept these coins anyways and they are available to buy.

Be aware that you will not get the full price for the gold you are selling. Dealers need to make money like other businesses. They want to generate profits and need a margin to do that. You can expect to get about 50% to 75% of the market price.

Gold isn’t a short-term investment. It is wise to hold onto your gold and let it accumulate in value over time. However, the best time to purchase gold is when the market is calm. In rough economic climates, gold shortages have arisen.

With any luck, you know believe that gold is for you. This strategy joins the gap between mutual stocks and funds and liquid cash savings. Gold is a great investment that requires knowing the different types of risk in the different choices out there.

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

How To Make Use Of The New Gold Trends

October 26, 2013 by ·

One of the most sought after metals is gold. Since it’s discovery eons ago, people have treasured gold. Beyond gold’s natural beauty, it has also acted as a way to store and accumulate wealth. If you want to buy or sell gold, read these tips.

Bullion Bars

You can’t beat bullion bars for a solid gold investment. Bullion bars come in a variety of weight. Bars may be a half ounce, 400 ounces or anything in between. The smaller bars are more common, while the larger ones are harder to find.

Be sure to find a reputable gold buyer to do business with. 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. This extra step makes sure that you are covered and paid appropriately.

Solid Gold Jewelry

You may think that solid gold jewelry is too expensive and choose to purchase gold plated or filled jewelry. Before settling for a gold plated piece, understand that there are great deals out there on solid gold jewelry. You can get gold jewelry cheaper online or in pawn shops.

Find out what the terms are before mailing off your old, broken jewelry. Be certain you have a clear understanding of the timeline involved, and make certain your jewelry is insured. The final step is to take photos of your jewelry, just to be sure you can fight any future problems that may occur.

If you don’t have lots of money to buy gold, but still want to profit on the upside, think about buying scrap gold. This is easy to do over time, and can lead to an accumulation of real value in the span of a year or two. Keep your stash in a safe place until you have enough of it to cash in.

When buying gold jewelry as a gift, make sure that the return policy is sound. You need a guarantee on any gold you buy. Because of this, it is critical that you are able to bring the piece back to obtain a refund.

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 buyers offer free shipping but will charge you a lot to send the item back. Be certain you know exactly what those fees will be.

You can sell your gold by mail. You may prefer this since it’s a lot easier. Simply receive your prepaid envelope, place the gold inside of it, ship it and wait for your check. But, keep in mind that such enterprises tend to offer lower prices than some competitors. You might receive up to 30 percent less concerning an item you sell, so be aware of this.

Know your dealer before purchasing gold. To ensure you are dealing with a trustworthy dealer, inquire with the area BBB. You will be able to learn if there have been any complaints lodged against them. If they aren’t resolved, move on.

To be a smart investor in gold pieces, learn how to test for the grade. You measure the purity of gold in karats. Gold with a higher karat value is more valuable per ounce. The stamp on the gold is not always accurate. If you can test the purity, you will never over pay.

To protect yourself and get a good deal, always do research on anyone you might buy gold from. This is very important, especially if you’re mailing it to someone that doesn’t live in your state. Companies purchasing gold are generally listed with the BBB. You are able to see any complaints filed here.

Make sure you look into the buyback policy of a seller. Some gold buyers charge a premium to resell your gold while others do not. When you are thinking about sending hefty gold bars or pieces to non-local dealer, consider the logistics. It is always best to hold on to the gold you purchase yourself to ensure its safety.

If there are small gems in your gold piece, ask to keep the gems after the gold is melted down. Some may be more difficult to remove than others. Little gems aren’t worth anything to most dealers.

Know what you’re buying. Lots of coins that are labeled as “gold” are just plated with gold. Confirmation from a certified appraiser will ensure that the coin you are buying is real.

Gold jewelry should always be separated according to karat content before it’s weighed and priced. Jewelry with a higher karat rating is worth more. That’s why those with fewer karats will reduce how much you get for your pieces. Make sure to separate the items before you go to sell.

You should find out how much your gold is worth before selling it. Usually, when you are trying to sell your gold pieces, dealers know that you want to make quick cash. This knowledge can be the difference between profit and loss. Check out www.goldprice.org to keep up-to-date with the price of gold.

Now you know about the absolute value of pure gold and why it’s treasured by many people. Gold is one of the best investments you can make. Use the advice from this piece and get going on your gold investing plan.

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

What You Must Know About Buying, Selling And Trading Gold

October 22, 2013 by ·

Many people these days see gold as a more stable form of currency. But not everyone is privy to the special knowledge it takes to successfully invest in gold. Read on and get educated on everything important about the gold market to help you buy and sell.

When you sell gold, get multiple estimates of its value. There are many places to get this done, and some will pay you more than others. Getting multiple offers allows you to understand what you can get for your gold.

Have an understanding of gold prices. The values of precious metals fluctuate daily, so be certain you know the spot price before any transaction. 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.

Check spot prices before you buy. This price changes every day. You can locate it on several different websites. When you do buy, avoid more than an 8% markup. Knowing the value of your gold will keep you from getting ripped off.

Never sell to an unlicensed gold dealer. A buyer who is licensed is likelier to be legitimate. There is a lot of competition out there, so you can sell to someone else if you’re not happy with the first offer.

If you’re not looking to own gold, you’ll still be able to invest in it. You can put your money in a gold exchange traded fund. You also buy stock in a gold mining company. There are also mutual funds that focus on gold. Before you buy bars and coins, you must also consider how much it will cost to store your gold.

Before selling gold, separate everything by karat. 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 lose money that way. Separating the gold before you go prevents this from happening.

You can actually sell your gold through the mail! Lots of sellers prefer this process, as it is easy. Simply receive your prepaid envelope, place the gold inside of it, ship it and wait for your check. However, you have to remember that you’re not going to get the most from your gold this way. You might receive up to 30 percent less concerning an item you sell, so be aware of this.

Gold is a very volatile investment. If you can’t handle the fluctuations, avoid this market. Even if you are willing to take on some degree of risk, you must take steps to minimize that risk. Only invest a small amount into gold. Start with investing 5% of your portfolio in gold so you can get a better idea of how this precious metal fluctuates.

Before you buy gold, find out something about the dealer. To ensure you’re dealing with someone legitimate, do some research with the BBB. You can check out complaints and see if they were resolved. If there have been complaints filed, consider using a different dealer.

You can invest in gold by purchasing beautiful gold jewelry. You can wear it, too! High-end jewelry is typically made with a great deal of craftsmanship, which adds value in addition to the gold itself.

If you have gems in your gold, tell the dealer you would like to keep the gems once the gold has been melted. Some may be more difficult to remove than others. Small gemstones usually have no value for dealers’s who melt down jewelry to reclaim the gold.

Gold Coins

A good way to start collecting gold is buying United States gold coins minted prior to 1933. Gold coins were used every day until that year when President Roosevelt recalled them. Not everyone just returned their gold, however. Gold coins from that era are still for sale now.

Understand that you’re more than likely not going to receive true value for the gold. A gold dealer must make a profit just as any other business must. They need to make money, and they can’t pay you full price and do that too. Depending on the buyer’s particular needs and situation, he or she may only be able to offer you half to three-quarters of your gold’s current market value.

Investing in gold has a rich tapestry of history attached to it with many fortunes being enhanced because of this valuable metal. To truly be a wise participant in gold markets, though, a good amount of education is vital. Hopefully, the information listed above was a good starting place for you.

Filed Under: Investing In Gold · Tagged: ,
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