What You Must Know About Buying, Selling And Trading Gold

January 12, 2014 by ·

One of the most sought after metals is gold. Gold was discovered centuries ago and has been valued since that time. If you’re trying to figure out how to get into buying gold, or you just want some jewelry, then you’ll find the following tips to be useful.

When you invest in gold, it is a good idea to go with buillon bars. The weight of these bars vary. You can find bars weighing anywhere from a half of an ounce, up to four hundred ounces. It isn’t easy to get the big bars, though!

Gold’s price is always changing, which makes it important to know your piece’s value before selling it. If you choose to sell any gold, keep in mind that pieces that have different karat values need to be valued and weighed separately. Never sell any jewelry as gold scraps that’s worth more than the gold itself due to the designer.

Before you get into investing or selling gold, it’s best to understand how it works. Prices of precious metals fluctuate everyday, so pick a day to check on the spot price before you buy or sell. There are different percentages owed based on the sizes of gold you own.

If you plan to invest in gold for retirement, be sure you purchase the right kind. It has to be IRS approved. That means that the gold is a minimum of 24 karats, and formed as coins or bullion bars. Try to buy gold bars more than coins, because they are much more valuable.

Have a professional appraise your gold jewelry if you do not know how much it is worth. This can cost you a little initially, but you want to know right? In order to have it valued most accurately, go with an appraiser who is accredited and independent. When you sell, you won’t get the whole appraisal value, though.

Be sure to select carefully when considering taking your gold to a pawn shop or jeweler for sale. Though there may be a standard market price for gold at a particular moment in time, not every store will pay it. Stores that are not near shopping malls may have lower overhead and are able to pay more.

Melt Value

When it comes to selling gold, you must decide if you are going to sell it just for its melt value or as a jewelry piece. Most pawn shops and gold buyers will purchase your gold jewelry for melt value. This shouldn’t deter you from selling your gold, as there is probably a buyer out there willing to buy for collector value.

Think about shopping thrift and antique shops to discover gold treasures. If you have a discerning eye, you can locate great pieces. Many people sell or donate at these shops for low prices due to being unaware of what they own. If you’re educated on how to make these finds, you can score some great deals.

Be careful approaching the gold market. While there are unscrupulous traders and companies in every market, the gold trade is particularly noted for having a healthy helping of scam artists. There are quite a few people out there that would just love to dupe you out of what you are really owed. You need to exercise caution and do your research.

Many people don’t know that a magnet can be used to test whether something is made of gold or some other type of metal that is precious. If it is a true precious metal, it will not adhere to the magnet. Sometimes, the only thing real about a piece of gold jewelry is the clasp. This method is good test for that.

Be sure to have your jewelry appraised before you decide to sell it. You definitely want to have jewelry with beautiful details and crafting well looked over because the value could be much higher. Although you will probably have to pay for an appraisal, you might find you have something worth a lot more than you thought. By taking your jewelry to an experienced appraiser, you may also find yourself with a good lead on a potential buyer.

The gold market involves many different areas that you could invest in. It is possible to purchase stocks of gold mining companies, shares in a gold ETF or a mutual fund whose focus is gold. If you’re buying bars or gold coins, think about the cost storage when making your purchase.

You can sell your gold through the mail. You may prefer this since it’s a lot easier. They provide the envelope to send your jewelry ,but you should have your package certified and insured. The price they pay will be very low, though. In certain instances, you might get roughly 30 percent less on the item, so stand guard.

Do not sell your gold just because you can. Gold tends to raise in price and while the price is very high now, it could go down more later. The longer you can retain your gold, the more benefit you will obtain.

At the start of your career in gold investment, stick to straightforward buying and selling. Avoid investments like gold futures, despite their popularity. Futures are complicated and unpredictable. It’s possible to burn through a great deal of money without turning a profit if you flounder into a market you don’t really understand. Let experts engage in these markets.

Now you should know more about gold values and why it’s treasured by many worldwide. Not only does gold look beautiful when worn, it is always a very worthwhile investment. Use these tips to invest in a gold collection today.

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

Golden Advice On Dealing With The Ultimate Commodity

November 30, 2013 by ·

In recent years, gold has become amazingly popular as an investment. You may feel that investing in gold is a smart thing to do but lack the knowledge of how to do it. Read on to learn some specific tips on gold investing.

Changes in the current price of gold will affect the price you will get. Pieces with differing karat values are worth different amounts, and should be weighed separately for selling. Never sell any jewelry as gold scraps that’s worth more than the gold itself due to the designer.

It is crucial that you have a solid idea about how the gold and precious metals market works. Gold, along with silver and platinum, have prices that change on a whim. Therefore, you must always know what the spot price currently is. You must be prepared to pay higher percentages over the melt values for fractional gold pieces like 1/10, 1/4th, and 1/2 ounces versus one-ounce pieces.

You may be put off by the price of gold, making you go with gold-plated or gold-filled jewelry instead. You can acquire gold jewelry from a number of sources at a reasonable price. Check pawn shops and online websites for cheaper gold prices.

Melt Value

When it comes to selling gold, you must decide if you are going to sell it just for its melt value or as a jewelry piece. You will only get melt value at pawn shops or with most private buyers. Don’t get discouraged if you are looking to sell jewelry, as buyers are still out there.

Be sure to consult the spot price on the day when you plan to purchase gold. Many websites update this information daily. Never pay more than 8% premiums on your gold. Knowing the value of your gold will keep you from getting ripped off.

You need to only sell your gold to buyers that are licensed. Although anyone could rip you off, the chances are slim when working with someone who is licensed. There are a lot of stores and individuals that will buy gold, so don’t feel like you have to sell to the first person you come across.

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. Keep it to yourself and protected, either with a decent home safe or in a bank. That will help protect your gold and you at all times.

Research the daily spot price before you sell your gold. You should see what other pieces like yours have sold for. This gives you an idea of what you should get. People will haggle, so ask for more than you will actually settle on.

Prior to coming to any decisions with regard to a gold buyer, shop around. You might get surprisingly different offers that reward your patience. By picking the first dealer, you could get a horrible deal. Spend a bit of time on the front end so you get the most profit out of the transaction.

Before you sell your gold as scrap, it is wise to have it appraised first. You may have pieces that are worth more than their weight in gold due to historic or artistic value. The appraisal will give you the best idea as to the worth of your gold. An appraiser may know someone that’s interested in your jewelry.

Lately, gold has really boomed, mainly because of the state of the economy. Knowing about the gold market will give you a big advantage. Apply the tips above regularly, and you will have the expertise you need.

Filed Under: Precious Metal Trading · Tagged: , ,

Are You A Gold Lover? Read This

November 16, 2013 by ·

Many people look towards the gold market as a means to keep their investment portfolio safe. Gold is considered by many to be a solid choice if you are looking for a stable investment even when the general economy is rocky. Just check out the handy tips below to learn how to take full advantage of your own opportunities for gold investing.

Gold’s price is always changing, which makes it important to know your piece’s value before selling it. If you choose to sell gold, weigh and value pieces that have different karat values separately. Never sell any jewelry as gold scraps that’s worth more than the gold itself due to the designer.

Think about having your jewelry appraised if you are not sure of it’s true value. Even though it is an extra expense, it can be well worth the investment. An independent appraiser should be used in order to receive the best value. When selling gold jewelry, you will receive only a percentage of the appraised value.

Melt Value

When it comes to selling gold, you must decide if you are going to sell it just for its melt value or as a jewelry piece. Many private buyers and pawn shops are only willing to give the melt value. Don’t get discouraged if you are looking to sell jewelry, as buyers are still out there.

Check the prices of golds the day you plan to buy. You can find that on a lot of websites, and that can change every day. When you do buy, avoid more than an 8% markup. While many companies attempt to charge more, this is simply not ethical and should be viewed with caution.

No matter the excitement gold buying brings, do not spread the word. You don’t know who to trust or who is listening. Do not tell others about your investment, and keep it locked up either in a home safe or at a bank. This will keep you and your gold protected under any circumstances.

Do your research before selling gold. Also, ask around to find out how much similar pieces are going for. This is a price point that you can work with. In order to be able to negotiate, you ought to give a price above the amount you really want.

One option when selling your gold is to send it away in the mail. Many people prefer this option because it is really easy. You put jewelry in a prepaid envelope and you’ll eventually get a check. Places that use this option usually pay a lesser amount. In some cases, you could get about 30 percent less for an item, so just be aware.

Gold can often be a lucrative but volatile investment. If you’re not ready for a roller coaster ride, gold investing is probably not for you. Even if you are okay with taking the risk, you need to prevent downside risks. Never invest more than a sliver of your total portfolio in gold. Stick to a limit of five percent.

Great news for gold owners: gold has gone up in price over 400 percent in the last decade. Nobody really knows when the best time to purchase gold is, as it mainly relies on the price of the dollar. When the dollar loses value, the value of gold increases.

Map out your goals prior to investing in gold. Although gold can add a nice balance to your portfolio in case of rough economic times, it is still considered an investment that fluctuates wildly. If you keep yourself protected, you’ll end up making more money with your gold.

Getting into gold isn’t that hard if you understand the ins and outs of the market. Now that you know some helpful information about gold, you should feel comfortable going into this market. Make sure you put the strategies learned to good use as you invest wisely.

Filed Under: Precious Metal Trading · Tagged: , ,
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