Wondering How To Get Into The World Of Gold? Try These Tips!

September 22, 2013 by ·

Gold is something that has been a tremendous value and worth. Since its discovery in ancient times, humans have treasured gold. If you want to start trading in gold, the tips below will help you.

You’ll want to know just how much your gold will be worth when selling it. If you make the decision to sell gold, separate your pieces by purity level. You should not sell jewelry as gold scraps if its worth is higher because of the brand or design.

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 accumulate over time, and you can see how this can make a valuable investment. Store it in a safe hiding spot until you have accumulated enough to cash in.

Check the return policy before you buy anyone a gift of gold. What if it doesn’t fit? Because this isn’t rare, it’s crucial that you have the ability to return the jewelry for a refund if it’s necessary.

If you want to unload scrap gold pieces or jewelry items for cash, do your homework first. The current value of gold may be one price, but that certainly doesn’t mean every buyer is willing to offer it. Look for stores off the beaten path as they often have lower overhead and better deals.

Melt Value

When selling any gold, you have to decide if it will be as jewelry or for its melt value. Most buyers will offer you just the melt value for your gold. Don’t lose faith; there is always someone willing to buy the item as an entire piece.

Sell only to gold buyers who are licensed. There’s still a chance of getting a bad deal, but chances are your buyer will be more than reputable. Many establishments purchase gold, so there is no need to sell yours to the first buyer you deal with.

Even though gold buying can be thrilling, try not to talk much about it. This is because you never truly know who may be listening. Protect your investment in a secure home safe or in a safe deposit box. These methods provide you with safety and security.

Know exactly what you have. There are many things that look like gold, but are completely worthless. Many times, other metals get mixed with gold for more durability. That can make it less valuable. This also applies to gold plated items. Getting gold jewelry appraised is always a good idea if you want to be clear about the potential sale value it represents.

Before selling your gold, comparison shop. You might be amazed by the variety of offers received. If you go with the first buyer that you meet, you may end up with the worst deal possible. Invest the time into the process, and you will be rewarded in the end.

Have all jewelry appraised before selling it as scrap gold. This is especially true for one-of-a-kind pieces like jewelry with intricate details and workmanship. Appraisals cost money, but often are a good investment. Appraisers might be aware of parties interested in your jewelry.

Many times earring posts are made of solid gold, even when the actual earring is not solid. Sometimes rings are only partially gold, and sometimes necklaces just have gold clasps. Those odd pieces should be sold as one lot, as they weigh so little on their own. This is when many pieces are sold together to net a larger profit.

Before you buy gold, get to know the dealer. To ensure you’re dealing with someone legitimate, do some research with the BBB. You can phone the BBB or visit their website to see if any customers have filed any complaints against a company for not-so-great business practices. If you find complaints, think about going elsewhere for your transaction.

Karat Value

When selling gold, separate it into different karat value groups. The karat value determines the gold’s value, so you are unlikely to receive the best price for your gold if it is all weighed together. The higher the karat value, the higher the value of your gold.

Be aware that you will not get the full price for the gold you are selling. Gold dealers are business people similar to other business people. Gold dealers cannot make money if they pay full price for an item, as there is no margin then for mark up. Expect offers to be in the range of 50-70% of the entire value.

See what gold’s value is before you sell it. Most dealers are aware of the fact that you want quick cash when you come to them trying to sell gold. They’ll attempt to whittle down the sales price to maximize their profits and minimize your own. Goldprice.org is an excellent resource for locating current pricing information for the gold market.

Whenever you’re selling gold to someone interested in buying it, make sure that you photograph everything. Be sure to find out what guarantees exist if your jewelry is stolen or lost when it is in their hands. Make sure to have this in writing for protection.

If you’re looking to sell gold coins, be sure to take both collector value and value by weight into account. You may lose money if you sell your coins for scrap gold melt. Doing your research beforehand will help you figure out what it’s really worth.

Get your gold appraised to ensure that you receive the very best deal. It does cost money to do so. Paying a small fee is necessary in order to make sure the buyer gives you a good price for your gold.

Now you are better educated about the value of gold and why it is so treasured by people all over the world. Gold is a great investment that’s beautiful to look at and wear. Take the things you’ve learned from the above article and use them to your advantage when dealing with gold.

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

Tips For Making Money By Investing In Gold

September 18, 2013 by ·

Every day we see rises in the price people are willing to pay for gold. When you want to join this investment movement, there is nothing holding you back. These gold tips can help you earn some profit.

A great way to invest in gold is through bullion bars. The weights vary. The bullion bars come in half ounce bars and increase up to large bars weighing 400 ounces. The 400 ounce bars are generally hard to find.

Only deal with reputable buyers. You can find out if they’re trustworthy by looking at the BBB reviews. A legitimate buyer will pay you fairly for your gold while giving you great customer service. This extra step makes sure that you are covered and paid appropriately.

Read reviews and do your research before choosing a dealer to buy your gold. BBB and consumer reviews are two sources of information that can give you an indication of a dealer’s reputation. By getting bids from several different gold buyers, you will be more likely to get top dollar for your gold.

Look at the spot price of gold before selling. This will indicate whether you’re getting a fair price or not. Lots of dealers offer market value, though some try to take advantage of the sense of urgency felt by sellers needing fast money.

If you plan to sell jewelry through mail-in companies, make sure to do your research first. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured. Also you need to be sure to photograph everything you’ve put in your package in case they start a dispute.

Ensure that your retirement investments are approved. The gold must be approved by the IRS. It needs to be either 24 karat coins or bullion bars. Gold bars tend to hold their value better than gold coins.

If you wish to enter the gold market but don’t have tons of capital, try buying scrap. Use the capital you have and purchase what you can and add to it as money becomes available. Make sure you keep the gold secured. A safety deposit box is a good place.

Make sure that you step up to the market with a sound mind and wary eye. While there are unscrupulous traders and companies in every market, the gold trade is particularly noted for having a healthy helping of scam artists. Many people want to keep the money you are owed for themselves. Make sure to be careful and do your homework.

When at a gold party, talk with the rep about how they make the determination on the karats of the jewelry being sold. Many times the item will have a stamp. Sometimes, however, there is no visual sign, so many representatives have other methods of figuring it out. Acid tests are simple ways to do this, so if the rep does this, they’re probably new to the business.

When you are selling gold,make sure you separate the pieces into similar karat groups. Separating ensures you get the most money for the karats that you own. The higher the gold content, the better the price.

Gold Purity

To be a smart investor in gold pieces, learn how to test for the grade. Karats are used to measure gold purity. Twenty-four karat gold is the purest form of gold and is the most expensive. Gold may be stamped with a karat stamp but you should always test it to be sure. You won’t pay too much for poor quality when you know the methods to testing gold purity.

Be sure to find out about a buyer who may purchase your gold in order to be protected. If you’re selling your gold through the mail, this is even more important. Companies which buy gold are listed with the BBB, so you may see if complaints are listed for your vendor.

Inquire if your relatives would be interested in selling any gold they no longer want. Purchase a quality jewelry scale on which to weigh the gold. This allows you to compensate your relatives better than a pawnshop while still earning money on the deal.

Gold Jewelry

If you like to invest in gold for its value and its beauty, consider buying gold jewelry made from pure gold. Gold jewelry is bought as both an investment and an accessory in fashion. Gold jewelry is worth more when its made of high-end gold, which makes it more desirable.

If you have gold that has gems inside it, once it’s melted down see if you’re able to keep it. Small gemstones may be impossible to remove though. Someone trading in gold is most likely not going to want a tiny gem, since the value is not there after it’s melted down.

You should find out how much your gold is worth before selling it. Buyers understand that you want money, or else you wouldn’t be selling your gold. For this reason, they try to offer low prices. A great website to find out the current price for gold is www.goldprice.org.

Be prepared to verify your identity when you’re out to sell gold. Thanks to its relative anonymity, gold is one of the most common valuables that thieves try to fence. To catch these crooks red-handed, the government passed a law to require the presentation of an ID during a sale. They can find stolen gold easier doing this.

Now that you have read this article, you should have a head full of ideas about how to get started in dealing with gold. Remember that you must be willing to commit to some hard work to trade gold successfully. Use these tips to prepare yourself.

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

Gold Information That You Absolutely Must Know

September 14, 2013 by ·

After the global economic crisis, gold has gained significantly as a mainstream investment vehicle. Perhaps you want to build your own reserves yet are unfamiliar with the formula for success. Continue reading so that you can remedy that situation.

It is always a smart idea to have more than one appraisal when you are considering selling gold. There are lots of services, jewelry stores and pawn shops that buy gold. Of course, they will want to make a profit when they sell it. When you get an estimate from more than one, you can help to ensure you’re getting a fair price on the gold you’re selling.

Make sure to research prospective buyers in advance in order to find a reputable one. You can look at online reviews, check at the consumer protection organizations or read on message boards about complaints. If you get bids from a few buyers, you can likely get a better price.

If you think you’re going to mail off your jewelry, you should see what it’s going to cost to have things mailed back if you don’t like their offer. Many companies will pay for your postage when you send but charge a high price when they return the piece to you. Know ahead of time if you must pay to get jewelry back.

Try using something like GoldMoney for buying gold. It is akin to establishing a bank account in which you deposit gold. You just sign up for your account, fund it and then you will be assigned gold. The gold is in a vault being protected, but you can sell it or even have a bullion bar shipped to you.

As exhilarating as gold gets, don’t run your mouth about it. Anyone could be listening at any time, and you cannot trust everyone. Keep your investments safe and secured in a bank or home safe. That will help protect your gold and you at all times.

Don’t avoid searching antique shops or thrift stores for gold. If you you’re aware of what to look for, you can find some great bargains. Many people donate or sell to these places at low prices because they don’t know what they own. You can reap the benefits of their loss if you do your homework first.

Research the market price of gold before you attempt to sell yours. You should see what other pieces like yours have sold for. This will give you a price point to work with. Ask for more than you are happy to accept so that the buyer has room to negotiate the price.

Comparison shop when you are choosing a buyer. You might get surprisingly different offers that reward your patience. Going to different places will allow you to weigh your options and go with the best deal. It can also help you to negotiate if needed. Take a little bit more time at first so you’ve got the maximum return on your gold investment.

You can use a magnet to test precious metal inexpensively. Precious metals, gold included, are not magnetic. Often the clasp of a piece is real gold, while the rest of the piece is just plated. A magnet is a good tool for discovering fake gold.

Fine Print

Go over the fine print that’s in any sales contract. If you’re using a mail-in gold program, read all the fine print prior to committing to the deal. Doing so makes it easier to keep track of what portion of your earnings go toward fees and commissions.

A lot of times the backs of the earrings are gold. The bands of rings may be as well, even if the rest is an alloy. In these instances, it’s best to sell the gold parts in a lot. This is when many pieces are sold together to net a larger profit.

Be sure to check the credentials of all gold buyers, jewelry stores and dealers with the Better Business Bureau. The BBB has information about each business including any complaints or reviews from others who have used their services. Look at the complaints to see whether or not they were resolved. If the number of complaints is high, it would be a wise decision to do business with a different company instead.

Be sure to separate all your gold items by karat weight before sale. Some vendors may try to weigh all of your items at one time and pay you for the lowest karat. You’ll get less money that way. If your gold is already separated, you will get as much as possible for it.

Be sure to choose a solid dealer with a good history. To help guarantee that you are selling to a reputable dealer, make a call to your local Better Business Bureau. Speaking with the BBB will help you learn of any complaints a dealer may have. If so, think about using someone else.

Gold values continue to skyrocket as they have over the previous decade. This is excellent news for anyone who owns gold. Nobody really knows when the best time to purchase gold is, as it mainly relies on the price of the dollar. Weaker paper currency equates to a stronger gold market.

See if friends or relatives have broken pieces of gold they want to sell. Buy a jewelry scale and weigh the gold so you can give your loved ones a good deal and still make money for yourself.

If you are considering selling your gold online, double check the prices before moving forward. Frequently, you can find a better deal at a physical business of a local dealer. It is certainly easier than dealing with a mail-only company, but these outlets do not typically pay as well.

The world is in a financial tizzy, and the popularity of gold is one of the results. Now that you have a basic understanding about buying and selling gold, apply it to your investments. Use the above tips to become more knowledgeable about gold investing.

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