How You Can Make Money By Selling Gold

November 2, 2013 by ·

Gold is valuable the world round, and this has always been the case. Most people like gold, but many people don’t know how they can invest in it. If you are in the market to buy gold, then keep reading for some helpful tips on how to get some gold.

When you invest in gold, you can’t go wrong with bullion bars. These come in various weights. They start at a mere half-ounce, but also rise as high as four-hundred ounces. The 400 ounce bars are generally hard to find.

Do careful and thorough research on any gold seller you are considering doing business with. You want to determine how the business treats its customers and whether there are outstanding complaints against it. Additionally, get several offers before selling to a gold dealer to ensure you get top dollar.

Buy Gold Jewelry

Gold is high in price, and this deters some. You might choose gold-plated or gold-filled pieces instead of ones that are full gold. You can still buy gold jewelry without spending too much at the jewelry store. You can buy gold jewelry more cheaply in pawn shops or online.

Do your research and know what the latest gold price is before you sell your jewelry. This way, you’ll know whether you’re really being offered a fair price. Dealers often assume that people who are trying to sell gold need quick cash and will try to take advantage.

When it comes time to sell your gold, figure out if you would like to sell it for its melt value or simply as a piece. Usually, you will only get the melt value from both private sellers and pawn shops. Don’t lose faith; there is always someone willing to buy the item as an entire piece.

You need to only sell your gold to buyers that are licensed. Although anyone could rip you off, the chances are slim when working with someone who is licensed. There are plenty of buyers for gold, so do not think that you must make a sale to the first buyer that you meet.

Know what it is you actually have. A lot of the time, gold isn’t really worth what it looks like it’s worth. A lot of times, metals are combined with gold to make the piece stronger. This actually lowers the price of the gold. Also, some items may only be gold plated. Getting gold jewelry appraised is always a good idea if you want to be clear about the potential sale value it represents.

A quick and inexpensive way to test a piece of gold or precious metal to see if it is real, is by using a magnet. It is true that precious metals are not attracted to magnets. There may be times when an item of jewelry has a solid gold clasp, but the rest of the item is only gold plated. This is a smart idea to test it this way.

Talk to a gold representative to learn how they test gold for purity. Is it based on the 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.

Always read small print in sales contracts. If you want to sell gold to mail-in gold buyers, read the small print carefully before you sell. That way, you will be aware of the cut of your proceeds that will go to fees and commissions.

Investigate with the Better Business Bureau before selling your gold to any purchaser. You will see if there were any complaints and be able to read reviews from consumers who have conducted business with them. Pay attention to complaints and see if they’ve been resolved. Avoid using any business that has a lot of complaints or unresolved complaints.

One option when selling your gold is to send it away in the mail. Many people prefer this option because it is really easy. You ship your jewelry in a prepaid envelope, and then you receive a check. But, keep in mind that you may not get as much money this way. Some of these outfits pay you a third of the money for the item than you might get elsewhere, so be cautious.

Gold is a valuable, durable, attractive resource. It’s still ideally suited for use as a tradeable commodity, too. It is generally a good investment because it holds its value over time. Now that you are more educated about acquiring and owning gold, begin creating your own gold collection today.

Filed Under: Selling Gold · Tagged: , , , ,

Helpful Hints For Buying, Selling And Trading In Gold

October 26, 2013 by ·

With the declining value of the dollar, many people are turning to precious metals as a more dependable investment. Gold is easily the most single popular precious metal, and its value rises as the dollar falls. The following article will give you some great tips to understand more about gold.

When you sell gold, get an idea of value from a number of sources. There are many buyers who purchase gold, but prices vary from one professional to the next. Getting estimates from several establishments will help you make sure that you receive a fair price.

When you invest in gold, you can’t go wrong with bullion bars. The weights will vary. You’ll see them as four-hundred ounces or even a half ounce. However, the really big bars are very hard to come by.

Understand the spot price of gold before selling any. Don’t forget to take into account the different karat values of your gold pieces. Don’t sell jewelry that is more valuable due to maker or designer.

Always use a reputable company when selling gold. Check with the BBB and look at reviews online before you sell your gold to a buyer. Do not do business with a buyer who does not treat you as a valued customer or does not offer a fair price. Doing this protects your investment.

Research a gold buyer before selling your gold. You can read reviews online, check with the Better Business Bureau and discover how each dealer resolves customer complaints. Soliciting multiple bids will help ensure you get the best price.

Try selling gold online. You no longer need to buy and sell gold at a physical location. There are plenty of websites that are ready and willing to buy your gold. The site sends you a prepaid mailer to put the gold pieces in. They will give you an offer, if everything goes properly.

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. The IRS has to approve the gold. They have to be either 24 karat coins or bullion bars. Buy bars instead of coins to increase your profits.

Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. Some stores won’t pay the market price of gold, and it’s up to you to realize this. Try to focus on stores that are not located in a mall, as their overhead may not be as high, which means they might have the ability to give you a better return on your gold.

You can get varying prices depending on how you sell it. Most private sellers and pawn brokers are only willing to pay melt value for gold jewelry. Try not to be discouraged. Sooner or later you will discover the purchaser you are seeking.

Don’t go into the situation blindly when selling gold; always know what the market price is. It’s also a good idea to research what similar pieces have for asking prices. That way, you will have a good starting point. Always see if you can get a little more than they’re asking if they allow you to negotiate.

Fine Print

Review all fine print in sales contracts. If you choose to sell your gold through one of the many mail-in gold purchasers, carefully read the fine print before selling your gold. This helps you understand what you will have to pay in fees and commissions.

Before you consider selling your gold, check the BBB.org website. They have rudimentary information about listed businesses, as well as reviews from clients who have traded with them. Look closely at complaints to find out whether or not they were satisfactorily resolved. If there are a lot of complaints on their record with the BBB, move on to a different business.

Read all the fine print when you are going through a gold dealer. This business is about the dollar signs, and you must recognize this. Always understand anything you’re placing your signature on. If you’re not comfortable with any terms, pass on it. You absolutely must protect yourself financially.

Test Gold

If you want to be an intelligent gold investor, learn to test gold for its grade. The purity of gold is measured in units called karats. The higher the karat, the purer and more expensive it costs per ounce. Do not always trust the karat stamp. When you know how to test gold, you’ll ensure that you get good quality.

To get the best deal and to protect yourself, always research the buyer of your gold. This is very important, especially if you’re mailing it to someone that doesn’t live in your state. Companies that buy gold ought to be listed with your local BBB, where you are able to find out if complaints are filed against a company.

Make sure you look into the buyback policy of a seller. Some buyers will charge you a fee to sell your gold. Consider the logistics of having to send bulky gold bars or coins to a dealer outside your geographical location. It is always best to hold on to the gold you purchase yourself to ensure its safety.

Be aware that you will not be receiving exactly what the gold is worth if you sell it. Gold dealers work like most other businesses. Gold dealers cannot make money if they pay full price for an item, as there is no margin then for mark up. Expect to receive offers that are 30 to 50 percent below the total value.

There are many investment strategies to use when investing in gold. You can purchase gold stocks, gold coins, bullion and jewelry. Do more research on your different options before deciding on the best strategy for your investment.

Filed Under: Selling Gold · Tagged: , , , ,

Gold Info You Ought To Know About

October 19, 2013 by ·

With the value of traditional currency losing its value in many countries, more and more people are investing in gold. First, you must gain a solid understanding about investing in gold. Keep reading this article to find out how you can take advantage of the availability of gold.

Fully research any buyer that you’re considering sending jewelry to through the mail. Ensure you understand the reimbursement terms, and don’t neglect to purchase postal insurance for the package. Also, make a photographic inventory of every item you send.

If you’re interested in investing in jewelry made of gold for someone other than yourself, make sure that you have the ability to return it for a full refund if necessary. It is impossible to tell if a jewelry item will be well liked or suitable. In those cases, you should return the jewelry for a refund.

Realize that any piece that contains gold can be sold to a buyer. Whether it is jewelry or home decor related, it could be an everyday item that you have within the home. It doesn’t have to be 24 karat either. Items that are gold plated or filled are also valuable. You still stand to make a fair amount of money selling it.

It’s always a good idea to verify the spot price before making a purchase the same day. You can find that on a lot of websites, and that can change every day. As you prepare to make a purchase, it is best to avoid any price with a markup of greater than 8 percent. There are dealers who attempt to charge a higher amount, but they are unethical and simply overcharging.

Figure out what you’re really in possession of. A lot of the time, gold isn’t really worth what it looks like it’s worth. Some jewelry is a composite of a number of different metals. This can lower the price. So, too, can items that are simply gold plated. Have an appraisal done on large amounts of jewelry or gold whose value you are uncertain about before selling it.

Research the market price of gold before you attempt to sell yours. You should also look around to see what other people are asking for similar pieces. You will get a general idea of the kind of price you can get. Always ask for a bit more than you really want in order to allow for negotiation.

A magnet can be used as a cheap and fast way to determine if a piece is really made of gold. It is true that precious metals are not attracted to magnets. In some cases, individual parts of a piece (like the clasp) may be solid gold while other parts are plated. The magnet will tell you the truth.

Know how to test the grade of gold so that you will be sure to get what you are paying for. Purity is rated in karats. The purer the gold, the higher the karats and the more valuable it is by the ounce. You can’t always trust a karat stamp. You will not inadvertently purchase bad quality if you know how to do gold purity tests.

Gather information about any gold dealer you are considering selling to. This is very important, especially if you’re mailing it to someone that doesn’t live in your state. Always consult with the BBB (Better Business Bureau). They should have records for large gold buyers, and you’ll be able to see whether or not they have a reputation for treating their customers fairly.

Establish some goals before deciding what kind of investment is best for you. Though gold stands up well against a bad economy and inflation, it can be risky. Setting the right limits and also the right goals will have you faring better in the gold market.

Many people get excited at the prospect of making a fortune on the gold market. But, lack of knowledge prevents people from properly using this market for profit. With any luck, this piece has started demystifying the process for interested parties.

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