How You Can Make Money By Selling Gold

November 17, 2013 by ·

There are quite a few people who believe that gold investments are a safe place to put money. Perhaps you are interested in the gold market, but don’t know where to begin. If you do not have a good working knowledge of gold, continue reading. This article will give you tips on investing in gold.

Do not sell your gold without first knowing what it is currently worth. If you have made the call to sell any gold you have, group your pieces by karat value. You should not sell jewelry as gold scraps if its worth is higher because of the brand or design.

Only deal with reputable buyers. Check BBB.org to find out more about the firm. When you choose the right buyer, you will have a great transaction. Make sure that you protect both your investment and yourself.

Before you buy or sell your gold, make sure you understand how the prices of precious metals work. Metal prices fluctuate constantly, so you need to know the price on any given day for a transaction. You need to get ready to pay higher prices than mere melt value on fractional pieces as opposed to one-ounce pieces.

All gold buyers are different, so it is important to look around and find someone that you feel comfortable doing business with. BBB and consumer reviews are two sources of information that can give you an indication of a dealer’s reputation. Check for offers through different buyers to make sure you get the best price for your gold.

Delivery Date

Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. If your seller can’t commit to immediate delivery, get the delivery date in writing. The date of arrival should be something you can see listed. Don’t go through with the order if they can’t provide you with the delivery date in writing.

Check the current price in the gold market before you sell your jewelry. That will help you determine whether or not a dealer is actually offering you a good price for your pieces. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.

Look into buying scrap gold if you can’t afford to get into the bigger market. This can be done over time, maybe some each day so that you can get some valuable gold in about a year. Store your gold in a secure location until enough to cash in has been amassed.

Do a little comparison shopping before you sell jewelry or other gold items, even if you’re looking for a quick cash-for-gold deal. The “spot” price for gold is determined by a constantly fluctuating market, so not every store is going to pay it. Some stores outside of busy urban areas do not have to pay as much on rents as stores located in a shopping mall and will offer a better price.

If you’re using a mail-order gold buying service, make sure you understand any return postage fees you’ll need to pay if you decline their 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. It’s best to be prepared so you are not surprised by return shipping charges.

Fine Print

Read the fine print of your sales contract. If you are going to sell gold pieces to a mail-in buyer, look at the fine print prior to selling to them. This helps you understand what you will have to pay in fees and commissions.

If you’re thinking of selling your old gold jewelry and scraps to a gold-buying business, it’s crucial that you check their reputation on the Better Business Bureau’s website first. They will have basic information about the business listed, along with any reviews or complaints from others that have done business with them. Take a close look at complaints, and look to see if resolution was achieved. Too many complaints are a warning sign and it’s a business you should definitely avoid.

Gold investing is a good idea for anyone with some extra money. After reading the tips in this article, you can rest assured that you will make wise decisions. Keep all these tips handy for the future.

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

How To Support Yourself By Investing In Gold

October 29, 2013 by ·

The price of gold has historically been high. Man has treasured gold since it was first discovered thousands of years ago. If you want to start trading in gold, the tips below will help you.

Arrange for delivery of your gold at the time of purchase. If the seller delays delivery, you have to get a written confirmation on when the expected delivery date is. The date they expect you to get them should be listed. Don’t go through with the order if they can’t provide you with the delivery date in writing.

If you do not have a large amount of money to start off with, why not consider purchasing scrap gold. This is easy to do over time, and can lead to an accumulation of real value in the span of a year or two. Keep your stash in a safe place until you have enough of it to cash in.

When you buy gold jewelry as a gift, be sure to understand the return policy and get a gift receipt. People’s preferences in jewelry are different, and the piece might not fit the person. If this happens, you need to return it for a complete refund.

Shop around town if you are taking scrap jewelry or gold pieces to sell to a store or pawn shop. All stores won’t pay market price for your gold, since they are all in business to make a profit. Stores which are not centrally located may be able to give you a better price.

Don’t sell to entities that are not licensed by the state to buy gold. Licensure is not a guarantee of credibility, but it is certainly a good indicator. Many establishments purchase gold, so there is no need to sell yours to the first buyer you deal with.

Exercise great care when you’re getting into gold trading. There are many scammers in the gold market. You must be diligent and do your homework. Do your homework before giving anyone your business.

One quit and cheap method of finding out whether or not gold is real is to use a magnet on it. Precious metals, gold included, are not magnetic. There may be times when an item of jewelry has a solid gold clasp, but the rest of the item is only gold plated. Using a magnet is an excellent way to find this out.

You can still invest in gold without physically owning any. You can put your money in a gold exchange traded fund. You also buy stock in a gold mining company. There are also mutual funds that focus on gold. If you opt to buy gold coins or bars, you should consider how you will store your gold.

You should read all the fine print of a contract when working with a gold broker. Gold is a huge market that has some serious money involved in most transactions. Understand precisely what you are asked to sign. If you do not agree with the term, go to another dealer. At the end of the day you are the one who stands to lose financially.

Gold values continue to skyrocket as they have over the previous decade. This is excellent news for anyone who owns gold. Whether this is a good time to buy gold or not is an unknown, but depends mostly on whether the dollar rises or falls. Basically, when the dollar is weak, gold prices will remain strong.

When you’re buying and selling gold, especially jewelry, knowing how to determine grade is very important. Karats are used to rate the purity of gold. The higher they are, the more expensive and pure it is per each ounce. You cannot rely on the stamp with the karat. If you can test the gold for purity, you aren’t going to pay too much for pieces of low quality.

Keep things simple if you do not have any experience with investing in gold. Shy away from investments such as gold futures markets. Futures are complicated and unpredictable. If you don’t happen to know exactly what you’re getting into, you risk losing money instead of making it. These sorts of complex investments are better suited to experienced investors.

You know more about gold after reading this article, and can appreciate its world wide popularity. Gold is not only beautiful, it also is a sound financial investment. Use these tips and invest in gold right way.

Filed Under: Gold · Tagged: ,

Good Tips To Use When You Need Information About Gold

September 11, 2013 by ·

To put gold into your personal investment portfolio, you need to learn the right way to do it. It is not so simple that you can just dive in, but having all the information you need prevents it from being too complicated. It contains everything you need to know about selling and buying gold.

Precious Metals

Be well informed about the value of precious metals before buying or selling gold. Prices of precious metals fluctuate everyday, so pick a day to check on the spot price before you buy or sell. You may have to pay higher prices, though, for pieces that have a small fractional measurement.

When you purchase gold, it’s important to set a fairly stringent schedule for delivery of your metal. When dealing with a vendor, it pays to seek written confirmation of the expected delivery date. This is crucial if they do not offer the option to deliver immediately. The date they expect you to get them should be listed. Don’t go through with the order if they can’t provide you with the delivery date in writing.

Be aware of the going rate of gold before you sell you gold items. This will assist you in determining if the offer you receive is fair. Many dealers will pay market value, however others rely on people desperate for cash to get the most for themselves.

If you’re thinking of mailing off some jewelry to someone, you need to be sure you do your research first. Be sure you figure out when you’ll get sent a payment, and be sure things are insured too. Make sure that you photograph each piece of gold you’re sending before you mail it off.

Anything with gold can be sold to a good dealer. Whether it is jewelry or home decor related, it could be an everyday item that you have within the home. It is not really necessary for these items to be solid gold. It could be plated gold or it could be that just a portion of the item is made of gold. You will still receive money from the sale of these items.

Use a magnet to determine if an item is made of gold. Precious metals do not respond to magnets. Often the clasp of a piece is real gold, while the rest of the piece is just plated. Magnets will let you tell the difference.

Earring backings are often solid gold, even when the earrings are not. In addition, necklace clasps or ring bands may be gold, too. Those odd pieces should be sold as one lot, as they weigh so little on their own. By selling them as a collection you will get a higher price.

You don’t have to physically own gold to invest in it. You could buy stocks in a mining company or shares in a gold ETF. You should always consider the costs to store gold.

Mail-in options exist for those wanting to sell gold. Although this process may be easier, you may not earn as much money. You get a prepaid envelope, you put your jewelry in and you ship it off, only to get a check in return. One thing to consider, though, is that the majority of these places won’t pay nearly the same amount as a local place in your area. Keep in mind that you could be looking at a return of 30% less than other options.

Gold is a very lucrative but volatile investment. If you would be made anxious by unexpected peaks and valleys in the market, you should avoid it. Limiting your risk is important even if you have a great deal of strength. You should invest only 10% of your portfolio in gold. 5% is a good amount.

You can get the best gold deals by buying from people. You need to know the risks before purchasing any gold. Because of this, requesting an appraisal for the coin in question is key. If a person has an inexpensive coin for sale and you’re sure the coin in question is real, go ahead and make the purchase.

After reading the above information about gold you should be able to test your knowledge in this market. Use them whether you are on the buying or selling end of a gold deal. Learn more by experience. Putting your money in gold is a valuable place to keep your money as you’re planning your future.

Filed Under: Investing In Gold · Tagged: , ,
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