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: , , , ,

Your One-stop Guide For Everything Gold Related

September 23, 2013 by ·

Can gold investments make your dreams come true? This can be true if you know what you are doing and invest wisely. This article can help you learn some gold expert tricks.

If you are selling gold then shop around to get an idea of what its true value is from different companies. There are a large number of venues for selling your gold, and they each have different target margins. By shopping around, you will get a better idea of what the gold you are selling is really worth.

It is important to invest in the right type of gold when doing so for your retirement. It has to be given the stamp of approval from the IRS. They must be 24 karat bullion bars or coins. Consider buying bars instead of coins, since they tend to be more valuable.

You can get into the gold market with just a small investment in scrap gold. Do this regularly over a certain length of time, and in 12 months or so, you would have accumulated a good amount. Store it in a safe hiding spot until you have accumulated enough to cash in.

Know that gold in any form can be sold. Don’t overlook flatware, watches, jewelry and even broken pieces as potential sources of profit. Nor does it have to be 100% pure gold. Plated gold will do. You can still turn a profit on these pieces.

GoldMoney is a popular resource to use in gold buying efforts. This is the equivalent of establishing a gold bank account. You will simply establish and account, deposit fund and receive the value of your account in gold. 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.

No matter the excitement gold buying brings, do not spread the word. You have no way of knowing who might overhear your conversation and who is truly trustworthy. Lock your investment up in a safe at home or at a bank and don’t let anyone else know. This keeps the gold and you safe under various circumstances.

Antique stores may hold valuable gold. If you you’re aware of what to look for, you can find some great bargains. Usually, you will see donated items of great value because people are unsure of their cost. If you know what you’re doing, you can make the money they did not.

Gold Market

Do not be overly aggressive when dealing in the gold market. The gold market has more than its share of disreputable dealers. They want to take your money and take advantage of you. For this reason, it is very important to thoroughly research any gold buyer you are considering.

Research the market ahead of investing. Some individuals pretend to market experts but who are in fact just trying to dupe you into investing through them. On the other hand, you need to stay mindful about anyone who promises you they can make you rich quick. Gold investing should be long term investments.

Always read the fine print of any contract so you understand it completely. Read any fine print before you decide to offer your gold to a mail-in buyer. This way, it will be clear how much you are paying in fees.

It is important that you read all of the fine print when buying or selling gold. Some gold buyers charge a premium to resell your gold while others do not. Consider the logistics of having to send bulky gold bars or coins to a dealer outside your geographical location. To keep yourself protected, don’t purchase gold only to let it remain in the dealer’s hands.

If you’re just starting out with gold investing, you should try not to make things complicated. Shy away from investments such as gold futures markets. Futures can be very volatile, and the concept can be complicated. If you don’t happen to know exactly what you’re getting into, you risk losing money instead of making it. Let more experienced investors get into such complicated transactions.

When you’re selling jewelry for the raw bullion value of the gold in your pieces, make sure to ask about getting back any small gems included in your jewelry. If they’re tiny, they may be very hard to remove. Most dealers will not be interested in the value of small gems, because they do not add value to a piece that will be melted down.

It is important that you don’t buy too much when investing in gold. It doesn’t create any income like buying bonds and stocks do. Prices are also very volatile. Prices increase as the value of equities declines. You shouldn’t invest more than 5% of your portfolio into the gold market.

No matter what the condition of the market looks like, gold maintains its popularity. Therefore, it is possible to make profits even in economic down times. That kind of flexibility is why gold trading is smart, but you have to learn strategies that work in good and bad times so you can make a profit.

If you’re selling a lot of jewelry, be certain each kind of karat is individually weighed. This helps make sure you get the right money for your gold. That’s because a 10k gold ring is worth less than a 18k necklace that is one ounce.

Hopefully you now have a more solid understanding about how to invest in gold. By setting gradual benchmarks that you work towards each day, your profits will start growing at a respectable pace. It’s okay to be the tortoise in this race, so take your time in order to get the best outcomes.

Filed Under: Gold · Tagged: , , , ,

Gold Information That You Absolutely Must Know

September 14, 2013 by ·

After the global economic crisis, gold has gained significantly as a mainstream investment vehicle. Perhaps you want to build your own reserves yet are unfamiliar with the formula for success. Continue reading so that you can remedy that situation.

It is always a smart idea to have more than one appraisal when you are considering selling gold. There are lots of services, jewelry stores and pawn shops that buy gold. Of course, they will want to make a profit when they sell it. 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.

Make sure to research prospective buyers in advance in order to find a reputable one. You can look at online reviews, check at the consumer protection organizations or read on message boards about complaints. If you get bids from a few buyers, you can likely get a better price.

If you think you’re going to mail off your jewelry, you should see what it’s going to cost to have things mailed back if you don’t like their offer. Many companies will pay for your postage when you send but charge a high price when they return the piece to you. Know ahead of time if you must pay to get jewelry back.

Try using something like GoldMoney for buying gold. It is akin to establishing a bank account in which you deposit gold. You just sign up for your account, fund it and then you will be assigned gold. The gold is in a vault being protected, but you can sell it or even have a bullion bar shipped to you.

As exhilarating as gold gets, don’t run your mouth about it. Anyone could be listening at any time, and you cannot trust everyone. Keep your investments safe and secured in a bank or home safe. That will help protect your gold and you at all times.

Don’t avoid searching antique shops or thrift stores for gold. If you you’re aware of what to look for, you can find some great bargains. Many people donate or sell to these places at low prices because they don’t know what they own. You can reap the benefits of their loss if you do your homework first.

Research the market price of gold before you attempt to sell yours. You should see what other pieces like yours have sold for. This will give you a price point to work with. Ask for more than you are happy to accept so that the buyer has room to negotiate the price.

Comparison shop when you are choosing a buyer. You might get surprisingly different offers that reward your patience. Going to different places will allow you to weigh your options and go with the best deal. It can also help you to negotiate if needed. Take a little bit more time at first so you’ve got the maximum return on your gold investment.

You can use a magnet to test precious metal inexpensively. Precious metals, gold included, are not magnetic. Often the clasp of a piece is real gold, while the rest of the piece is just plated. A magnet is a good tool for discovering fake gold.

Fine Print

Go over the fine print that’s in any sales contract. If you’re using a mail-in gold program, read all the fine print prior to committing to the deal. Doing so makes it easier to keep track of what portion of your earnings go toward fees and commissions.

A lot of times the backs of the earrings are gold. The bands of rings may be as well, even if the rest is an alloy. In these instances, it’s best to sell the gold parts in a lot. This is when many pieces are sold together to net a larger profit.

Be sure to check the credentials of all gold buyers, jewelry stores and dealers with the Better Business Bureau. The BBB has information about each business including any complaints or reviews from others who have used their services. Look at the complaints to see whether or not they were resolved. If the number of complaints is high, it would be a wise decision to do business with a different company instead.

Be sure to separate all your gold items by karat weight before sale. Some vendors may try to weigh all of your items at one time and pay you for the lowest karat. You’ll get less money that way. If your gold is already separated, you will get as much as possible for it.

Be sure to choose a solid dealer with a good history. To help guarantee that you are selling to a reputable dealer, make a call to your local Better Business Bureau. Speaking with the BBB will help you learn of any complaints a dealer may have. If so, think about using someone else.

Gold values continue to skyrocket as they have over the previous decade. This is excellent news for anyone who owns gold. Nobody really knows when the best time to purchase gold is, as it mainly relies on the price of the dollar. Weaker paper currency equates to a stronger gold market.

See if friends or relatives have broken pieces of gold they want to sell. Buy a jewelry scale and weigh the gold so you can give your loved ones a good deal and still make money for yourself.

If you are considering selling your gold online, double check the prices before moving forward. Frequently, you can find a better deal at a physical business of a local dealer. It is certainly easier than dealing with a mail-only company, but these outlets do not typically pay as well.

The world is in a financial tizzy, and the popularity of gold is one of the results. Now that you have a basic understanding about buying and selling gold, apply it to your investments. Use the above tips to become more knowledgeable about gold investing.

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