Gold has been used for centuries as a form of money. If you’re interested in gold, the material here can provide some excellent investment insight. Keep reading for what you need to know.
Think about selling gold via the internet. Gold deals no longer have to take place at a “real” store. You can find a lot of websites to sell gold. The site will send you a special kit in which you’ll return the gold items. You will receive payment based on the current market value of gold when your items arrive.
Research the current market price of gold before you attempt to sell your old and unwanted jewelry. This can help you discern whether you’re being offered a good price or not. Although there are many honest gold dealers out there, there are also those who will try to offer you much less than it is worth.
Only buy gold jewelry if you can return it. You have no idea if the person for whom you are purchasing the piece will like it or if it will fit. If this happens, then you need to be returning the piece in question for a refund.
Know that anything that has gold in it is sellable to a gold dealer. Examples of saleable items include broken jewelry, spoons, forks, household goods, etc. Mixed metal items can be sold as well. Plated gold will do. You can still get some decent money selling these items.
If you choose to sell jewelry or scrap gold, shop around. Though there may be a standard market price for gold at a particular moment in time, not every store will pay it. Stores that aren’t in big shopping malls tend to have much lower rent and may pay more.
Try using something like GoldMoney for buying gold. It is almost like opening a bank account for gold. You simply establish your account, deposit funds and receive an assignment of gold that fits the value of your account. While the gold itself physically remains within a bank vault, you can deal with it as you see fit.
One quit and cheap method of finding out whether or not gold is real is to use a magnet on it. Precious metals that are true like gold aren’t going to be magnetized. Many times you see the clasp gold plated but not the rest of the piece. Using this technique will help ensure your pieces are solid gold.
Get a jewelry appraisal before you consider selling it for scrap. This is an absolute must-do if you are selling unique, handcrafted pieces of jewelry. Although you will probably have to pay for an appraisal, you might find you have something worth a lot more than you thought. An appraiser may also have connections with jewelry buyers.
Karat Weight
The first thing you should do when selling gold is group the pieces by karat weight. This will ensure that you are paid correctly; otherwise, a dealer may try to pay you using the lower karat weight values. This is a scam that will cost you money. The way around this is to present the gold to the buyer pre-separated so that you get fair market value for each piece.
It is possible to sell your gold online and send it to a different state. Lots of sellers like this because it’s convenient. Oftentimes you will be provided with a prepaid envelope and will receive a check in the mail. But, keep in mind that such enterprises tend to offer lower prices than some competitors. In a few cases you might get 30% less for a piece, so know that.
Gold has been used throughout history to build and maintain wealth. Since the economy has faltered in the last several years, we are now seeing a rise in people participating in the gold market. These tips will help you make the most of your gold investment.
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