Nuggets Of Wisdom For Successful Gold Investing

September 27, 2013 by ·

Humans have been attracted to gold for thousands of years. Since it’s discovery eons ago, people have treasured gold. Beyond gold’s natural beauty, it has also acted as a way to store and accumulate wealth. If you want to buy or sell gold, read these tips.

Gold Jewelry

If you are buying gold jewelry as a gift, make sure you have a money back guarantee. It’s almost impossible to determine the value of your gold jewelry just by looking at it. If that happens then you’re going to want to return it and get your money back.

Consider giving GoldMoney a try for gold purchases. It can be compared to “gold bank accounts.” All you need to do is create an account and fund it. You are assigned the same amount of gold as the value of the account. The gold resides in a bank. From there, you can sell it or do a number of other things with it.

While buying gold is extremely exciting, you need to keep it quiet. Anyone could be listening at any time, and you cannot trust everyone. Do not tell others about your investment, and keep it locked up either in a home safe or at a bank. This is the best way to protect yourself and your gold investment.

Know what you’ve really got. Not all gold piece are worth their weight in gold. Usually, there are other metals mixed with gold for stability. This can make the price a lot lower. Gold plated items may also be deceiving. Have your pieces appraised before sale to determine their value.

When selling gold, research the market price. You should shop around to get an idea of what others are offering for similar gold pieces. This lets you determine a fair market value starting price point. Always ask a little above what you want so there is room for negotiation.

Comparison shop prior to selecting your gold buyer. You will get many different amounts. When you just take buyer number one, you may lose money. Taking your time can really end up getting you the best deal out there.

Before selling your gold, contact your local Better Business Bureau. You can find out about certain businesses and experiences so that you can move forward from there. Complaints that have been resolved are actually a good thing, so factor those in as well. If the purchaser has any unresolved complaints, steer clear of them.

You can sell your gold by mail. This does not involve posting any advertisements or going into different shops. Oftentimes you will be provided with a prepaid envelope and will receive a check in the mail. However, remember that these companies often don’t pay as much for your gold as other places. In some cases, you could get about 30 percent less for an item, so just be aware.

If there are any forms involved in your gold dealing, make sure to read them word for word. There’s a lot of money involved in this business. You need to know precisely what you are signing. If you don’t like the terms, be prepared to move on. You have to make sure you financially protect yourself.

The price of gold has increased 400 percent over the past 10 years, and that is great for gold owners. The changes in currency value affect the value of gold. Generally, a weak dollar equals strong gold prices.

Now you should know more about gold values and why it’s treasured by many worldwide. Gold can be a good way to make money and be beautiful to wear at the same time. Take what you have learned here and use it to start your own investments in gold today.

Filed Under: Selling Gold · Tagged: , ,

Gold Isn’t So Hard To Get To Know With The Right Information!

September 20, 2013 by ·

Buying gold to save as an investment is growing more and more popular. Investors need to consider many things, however, and many people lack the right knowledge. Read on to find out important information for gold investors.

It is always a smart idea to have more than one appraisal when you are considering selling gold. From pawn shops to jewelry stores, each location will charge a different premium on gold. 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.

Always make delivery arrangements before purchasing gold from a vendor. Delivery times are important. If this is not possible, make sure you get a written contract outlining when the items will arrive. This should include the date the gold will arrive to you buy. Proceed with the order only if you get this confirmation.

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. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.

Ensure that your retirement investments are approved. It has to be IRS approved. It needs to be either 24 karat coins or bullion bars. Buy bars instead of coins to increase your profits.

Only buy gold jewelry if you can return it. You can’t be sure when jewelry is liked by the other person or if it even fits them. In those cases, you should return the jewelry for a refund.

Realize that any piece that contains gold can be sold to a buyer. It may consist of decorative items, gold table ware, old items of jewelry and so on. Even things that are not pure gold can have value. It just needs to be plated or maybe only a part of it’s gold. It’s still possible to make money this way.

Melt Value

When selling any gold, you have to decide if it will be as jewelry or for its melt value. The quickest way to sell off gold (and the one many dealers and pawnbrokers prefer) is for the melt value. Selling your unique gold pieces to a collector can end up netting you more money.

When you’re selling your gold, you have to do the proper research. You should shop around to get an idea of what others are offering for similar gold pieces. This will help you figure out a good price point. People will haggle, so ask for more than you will actually settle on.

Comparison shop prior to selecting your gold buyer. You might get surprisingly different offers that reward your patience. When you just take buyer number one, you may lose money. Spend the required time to comparison shop before making any decisions.

Research gold before investing in it. Some people may try to trick you so you invest money with their company. However, you should be leery of anyone who promises you wealth. If you do not buy into the premise that you will get rich quickly, then you won’t be disappointed.

Get to know the dealer before buying gold. To make sure you’re dealing with someone good, talk to your BBB chapter. You can use the Better Business Bureau to see if complaints or adverse claims have been made about the dealer. If there are complaints, you need to find a different dealer.

Never sell gold simply for the sake of selling it. Gold usually increases in value, so it is something you should keep around for a while. If holding onto the gold you own is an option, you may stand to benefit greatly down the road.

The gold market has gotten more and more attention lately and there are no signs that it is ending. Smart investors always research all the details of a market before embarking on trading. Make use of the tips that have been told to you, and you can start accumulating wealth in gold.

Filed Under: Selling Gold · Tagged: , , ,

Win With Gold With These Golden Ideas

September 3, 2013 by ·

You have to learn how to add gold to your investments in order to have it on your side. You can’t just jump right in. It takes a bit of studying to know all the facts. Read this article to gain some knowledge about gold investments.

It is always a smart idea to have more than one appraisal when you are considering selling gold. Several gold-buying services and jewelry stores get different profits for the gold they buy. When you seek more than one estimate, a fair price is going to be more attainable.

Stick with a reputable buyer when selling your gold. Look at the Better Business Bureau to gather information about the company to see if their legitimate or not. Reputable buyers will pay fair rates for gold and will provide solid customer service. Make sure that you protect both your investment and yourself.

If you decide to send your jewelry to a company through the mail, research them and their terms before heading to the post office. Be sure to understand when to expect payment and how to insure your items. Lastly, take a photo of all that you placed in the package in case there’s an issue later.

If you intend to convert your gold jewelry into cash, you’ll have to choose between selling it as jewelry or for the “melt” value of the gold it contains. Usually, you will only get the melt value from both private sellers and pawn shops. You should look for an individual buyer who is interested in the jewelry itself if you want to get a better price.

To verify that a particular piece of jewelry isn’t simply plated, you can try testing it yourself with a magnet. Real precious metals do not stick to magnets. Sometimes, the only thing real about a piece of gold jewelry is the clasp. This method is good test for that.

Talk to the BBB before selling your gold to a jewelry store, dealer or gold buyer. Here, you will find information regarding the business, as well complaints and reviews from people who’ve dealt with them before. Pay attention to complaints and see if they’ve been resolved. A multitude of unresolved complaints is a good indication you should do business elsewhere.

Gold can often be a lucrative but volatile investment. You will probably observe some fluctuations on the short term but you should not let this stress you. If you are able to handle it, then you can still limit the downside risk involved. Because of the volatile market, only a small amount of your portfolio should be invested in the gold market. For example, you might wisely invest 5%.

Prior to buying gold, be sure you know the dealer. Contact the BBB to learn more. You can check out complaints and see if they were resolved. Look for dealers who have few complaints and a good record of complaint resolution.

Gold prices have skyrocketed 400% in the last decade. The changes in currency value affect the value of gold. Basically, when the dollar is weak, gold is strong.

Know how to test the grade of gold if you are investing in gold. You measure the purity of gold in karats. Higher karats include purer, more expensive gold. Do not always trust the karat stamp. If you know how to test gold’s purity, you will never be overcharged.

It’s wise to buy gold when you have a lengthy time horizon. Do not purchase gold when prices are high. In fact, that is not the time to buy anything as an investment. Ignoring the market when buying gold will give you a better price overall.

Novice gold investors should stick to simple purchases at first. Avoid gold futures and other similar investments. Futures are complicated and unpredictable. You can end up losing a substantial amount of money very swiftly. These sorts of complex investments are better suited to experienced investors.

Be aware that you might not receive top dollar for your gold. Dealers need to make money like other businesses. They are in it to make money, so they need room in the purchase price to do just that. Expect to see offers from 50 to 70 percent of the gold’s total value.

With these gold investment tips in mind, all you have to do is put them to use. This information can help you invest in gold, whatever your strategy. Gold can benefit any portfolio.

Filed Under: Investing In Gold · Tagged: ,
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