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: , , ,

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:

The Golden Dream: Making Money With Gold

December 22, 2013 by ·

Gold has a value in every market, and has been traded as treasure for as long as it has been around. Most people covet gold, but not all people know how to gain profit from it. If you’re looking to invest significantly in gold, the following advice can help you get the best value for your money when you buy or sell this precious metal.

Get a value from a few buyers before selling your goal. From pawn shops to jewelry stores, each location will charge a different premium on gold. Getting multiple estimates helps you get a fairer price on your gold when selling it.

Get a good education in precious metal pricing before you try to buy or sell gold. The prices for precious metals go up and down from one day to the next. Therefore you must find the price on the exact day before you agree to do business with someone. You may be required to spend more on melt values if you are working with fractional pieces. You might pay more for something that is 0.25 ounces versus something that is 1 ounce.

You might balk at the high cost of gold, causing you to select gold-filled or gold-plated items. You don’t have to spend a mint at a jewelry store, though. Visiting flea markets and pawn shops can help you to get the very best price.

Research the current market price of gold before you attempt to sell your old and unwanted jewelry. That way, you will know if you are being offered a fair price for the items you have. Most dealers will make you a fair offer, but some will try and rip you off.

If you are shipping jewelry, be certain you find out how much it’s going to cost to get your pieces back if you fail to accept their offer. A lot of buyers offer free shipping but will charge you a lot to send the item back. It’s best to be prepared so you are not surprised by return shipping charges.

There are many sites where you can purchase gold, such as GoldMoney. It’s akin to opening up a bank account but with gold instead. With this service the money in your account is converted into gold. Although you own the gold, it remains stored securely in the company’s vaults. You can sell it, portion it out, or even (given the right conditions) arrange to take deliver of it yourself.

Be aware of the true value of your items. Just because it looks like gold doesn’t mean it’s valuable. Usually other metals are combined with gold to provide more strength. Items that are not pure gold have a lower value. So, too, can items that are simply gold plated. If you do not know for sure the value of your gold piece, have it appraised before presenting it for sale.

Gold is an amazing investment vehicle for anyone interested in turning a profit. Gold is a sound investment due to its ability to retain a steady value that is more likely to rise rather than fall. You should start working on building your portfolio with some precious metals.

Filed Under: Selling Gold · Tagged: ,
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