Golden Advice On Dealing With The Ultimate Commodity

October 16, 2013 by ·

It is obvious that the gold markets are getting lots of fresh interest from buyers, sellers and investors. The key to doing well with gold trading is to acquire a large amount of knowledge and insights from successful insiders. Continue on to begin your path towards understanding the gold market.

It is important to research the current value of gold before selling your gold. Pieces with differing karat values are worth different amounts, and should be weighed separately for selling. Remember that jewelry will sell at its melt value, not the price the jeweler wants for it.

Be well informed about the value of precious metals before buying or selling gold. Silver, gold and platinum prices fluctuate often, and therefore you need to verify spot pricing the day prior to your intended deal. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.

Before you put down your money for gold, make sure you have a firm delivery commitment from the seller. If this is not possible, make sure you get a written contract outlining when the items will arrive. The date they expect you to get them should be listed. Do not complete the order unless you have this in writing.

Take a look at the spot price prior to going out to purchase gold. A number of websites feature this information, and it changes daily. Never pay more than 8 percent over the current sales price of gold. Many times sellers will try to sell it at a higher price.

If you are sending your jewelry off in the mail, make sure you investigate how much it will cost you to have the pieces sent back to you if you don’t like the offer. While most firms will pay to have you send them your items, they will charge you a considerable amount if you want them back. You want to know what those charges might end up being before you decide to send them your gold.

GoldMoney can be a good resource when buying gold. It is almost like opening a bank account for gold. After creating an account and depositing your money, you are allowed a corresponding amount of gold, which is then linked to your new account. 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.

Do not invest in any market before you have done your homework. Not everyone who claims to be a gold expert really is. They may just be trying to trick you. On the other hand, you need to stay mindful about anyone who promises you they can make you rich quick. If you do not buy into the premise that you will get rich quickly, then you won’t be disappointed.

Complaints Filed

Talk to the BBB before selling your gold to a jewelry store, dealer or gold buyer. They are sure to have information about each business, as well as data on any complaints filed. You should especially pay attention to any customer complaints filed as well as what the resolutions were. If they have many complaints or lots of unresolved complaints, consider another buyer.

Figure out who your dealer really is before you buy gold from them. Check the Better Business Bureau to make sure a gold dealer can be trusted. Get in touch with the BBB to find information about which complaints, if any, have been filed. If you find filed complaints, you may want to think about going with a different dealer altogether.

Check prices before selling online. It’s not uncommon to find more favorable pricing from local buyers with physical locations. Convenience is lost, but it’s worth it to make more profit.

When you choose to pursue investing in gold, you must take a long-term approach. Don’t only purchase gold when the prices are high. In fact, when prices are high, you should be selling. Ignoring the market when buying gold will give you a better price overall.

If you’re just starting out with gold investing, you should try not to make things complicated. Avoid complicated investments such as gold futures. Futures are complicated and fluctuate wildly. If you do not understand the process, you can lose money fast. Leave those more complex investments to the experienced investors.

Nobody should be surprised by the immense interest generated by the potential profits of smart gold investing. Maybe you’ve always wanted to learn about this market. By using the things you learned here to deal with gold, you will find yourself to be successful.

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

Read These Tips About Making Money With Gold.

October 6, 2013 by ·

With the recent rough economy, there are a great number of people who are turning to gold investment in the hope of keeping their money more safe. That said, you have to have some knowledge behind you to be successful. Read on to learn about the pros and cons of trading in gold.

Research a gold buyer before selling your gold. You want to determine how the business treats its customers and whether there are outstanding complaints against it. Soliciting bids from multiple companies ensures that you receive the most money per transaction.

If you are looking to gold as a retirement vehicle, be certain you invest in the proper kinds of gold. The IRS must have approved the gold that you receive. That means only 24 karat and only coins or bullion. You should be more inclined to buy gold bars, which hold greater value than coins.

Containing Gold

Realize that all items containing gold have some sort of resale value to dealers. Don’t overlook flatware, watches, jewelry and even broken pieces as potential sources of profit. It also doesn’t have to be 100% pure gold. The items can be gold-plated or made of an alloy containing gold. They won’t be worth as much but you can still get money for them.

Be sure to consult the spot price on the day when you plan to purchase gold. You can find this on a variety of websites, and it can change daily. Never buy something listed at more than ten percent of the spot price. A few dealers attempt to charge you more than this, but this means they are trying to rip you off.

You may even be able to find old gold at thrift shops or garage sales. Many of these places offer great finds in gold at a cheap price if dig deep enough. Lots of people sell their items here for low prices, because they are not aware of the value. Their lack of knowledge can be used to your benefit, if you know what to look for.

Talk to multiple vendors before making a decision about which buyer you’ll go with. You might get surprisingly different offers that reward your patience. If you accept the first deal offered to you, you might be sorry. Get the most money for your gold by spending time to comparison shop.

Make sure to conduct independent research prior to investing any money. Some people will make false claims to try and get you to invest. When they make huge promises, they can’t keep them. Don’t think of buying gold as a means to overnight riches, and you will never end up being disappointed.

Be certain to review the sales contract carefully. If you are going to sell gold pieces to a mail-in buyer, look at the fine print prior to selling to them. This way, you will know the exact amount of the fees and commissions you will be paying.

Have all jewelry appraised before selling it as scrap gold. You may have pieces that are worth more than their weight in gold due to historic or artistic value. The appraisal isn’t free, but it can boost your selling price. This is also a great way to locate buyers who might be interested in your gold.

There are many options available to individuals looking to purchase gold as an investment. Buying gold-focused mutual funds and stock in companies that mine gold are other options for investing in gold. Choosing to own gold means that you must have a secure place to store it.

Gold has played a large role in the lives of people throughout the centuries. If you want to trade gold successfully, you must be well educated. The preceding article should have provided precisely such information.

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

Expert Advice On How To Become Gold Savvy

October 4, 2013 by ·

You must learn the ins and outs of investing in gold before you talk to a broker. It is not so simple that you can just dive in, but having all the information you need prevents it from being too complicated. This article can help educate you about buying gold as an investment.

Before buying or selling gold, know how all the prices work. Daily fluctuations are the norm, so you must be current on the spot price. You need to get ready to pay higher prices than mere melt value on fractional pieces as opposed to one-ounce pieces.

Schedule for a proper delivery before buying gold from any seller. Always get a timeline in writing of when your gold pieces will be delivered if immediately delivery is not provided by the seller. The expected date must be listed. If you cannot get this document, do not complete your order.

Before going to sell your jewelry, investigate what the current market price of gold is. This will help you set a fair price when you sell or buy. Many dealers will pay market value, however others rely on people desperate for cash to get the most for themselves.

Be sure you research a company before sending them gold in the mail. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured. Take a photo of what you mail to battle against disputes down the road.

If you want to invest in gold, but lack significant capital, think about getting into scrap. You can do this over a period of time, say around each pay day, and accumulate a considerable amount of valuable gold within a year or so. Find a secure place for your stash until there is enough for you to cash it in.

Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. While spot pricing is the national standard, most stores don’t honor it. Look for stores off the beaten path as they often have lower overhead and better deals.

Use GoldMoney to buy gold. It is very much like opening a “gold banking account.” You create an account and fund it; then your account is given some gold at the market price. It then is kept in a vault. The gold is yours to cash in if you wish. You may also redeem it for physical gold later.

Before you sell gold jewelry for its scrap value, have it professionally appraised. You definitely want to have jewelry with beautiful details and crafting well looked over because the value could be much higher. You may have to pay to have a piece appraised, but it’s worth it. In addition, appraisers may know people who may be interested in your jewelery.

Look at every form you need to sign when working with gold dealers. This is a large money making endeavor with lots of dollars associated with it. You need to know what you’re signing. If you disagree with the terms of the sale, do business with someone else. Protecting your financial interests should be of primary importance.

Gold is often volatile even though it can be a good investment. If you cannot handle sharp price swings, this investment is not for you. If you have the fortitude, still limit your downside risk. Only a very small overall percentage of your portfolio should be invested in gold. Generally, about five percent is an ideal limit.

Ask relative for broken jewelry that they no longer want. If you have a decent jewelry scale, you can weigh gold yourself. This way, you pay your family more money than they’d get at a pawnshop and you get to make a few bucks yourself.

Make sure you understand the buyback policy of your seller. Some people that buy gold will make you pay a premium to get the gold resold, and some people don’t do that. Think about the extra charges concerning sending gold of all kinds to different geographical locations. To protect yourself, avoid buying gold and leaving it in the custody of a dealer.

If your gold piece has small gems in it, you can ask to keep them after the piece is melted down. They might be hard to get out if they are tiny. Small gems are not worth anything when an item of jewelry is melted, so most dealers don’t care about them.

You must now apply that information to your own investing efforts. This information can help you invest in gold, whatever your strategy. Gold can be of great help for your future plans.

Filed Under: Precious Metal Trading · Tagged: , , ,
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