The Golden Dream: Making Money With Gold

December 22, 2013 by ·

Gold has a value in every market, and has been traded as treasure for as long as it has been around. Most people covet gold, but not all people know how to gain profit from it. If you’re looking to invest significantly in gold, the following advice can help you get the best value for your money when you buy or sell this precious metal.

Get a value from a few buyers before selling your goal. From pawn shops to jewelry stores, each location will charge a different premium on gold. Getting multiple estimates helps you get a fairer price on your gold when selling it.

Get a good education in precious metal pricing before you try to buy or sell gold. The prices for precious metals go up and down from one day to the next. Therefore you must find the price on the exact day before you agree to do business with someone. You may be required to spend more on melt values if you are working with fractional pieces. You might pay more for something that is 0.25 ounces versus something that is 1 ounce.

You might balk at the high cost of gold, causing you to select gold-filled or gold-plated items. You don’t have to spend a mint at a jewelry store, though. Visiting flea markets and pawn shops can help you to get the very best price.

Research the current market price of gold before you attempt to sell your old and unwanted jewelry. That way, you will know if you are being offered a fair price for the items you have. Most dealers will make you a fair offer, but some will try and rip you off.

If you are shipping jewelry, be certain you find out how much it’s going to cost to get your pieces back if you fail to accept their offer. A lot of buyers offer free shipping but will charge you a lot to send the item back. It’s best to be prepared so you are not surprised by return shipping charges.

There are many sites where you can purchase gold, such as GoldMoney. It’s akin to opening up a bank account but with gold instead. With this service the money in your account is converted into 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.

Be aware of the true value of your items. Just because it looks like gold doesn’t mean it’s valuable. Usually other metals are combined with gold to provide more strength. Items that are not pure gold have a lower value. So, too, can items that are simply gold plated. If you do not know for sure the value of your gold piece, have it appraised before presenting it for sale.

Gold is an amazing investment vehicle for anyone interested in turning a profit. Gold is a sound investment due to its ability to retain a steady value that is more likely to rise rather than fall. You should start working on building your portfolio with some precious metals.

Filed Under: Selling Gold · Tagged: ,

How To Make Use Of The New Gold Trends

December 7, 2013 by ·

Investing in gold means understanding the market. Diversification is a wise strategy, especially when your portfolio includes some amount of gold. Where do you start? There are various options, so it may appear overwhelming. Read on to make the process of gold investment easier.

Hundred Ounce Bars

Bullion is the best choice if investing in gold. These bars come in varying weights. They can be found in sizes as small as a half-ounce or as large as four hundred ounce bars. For the record, four hundred ounce bars are very difficult to find.

Be well informed about the value of precious metals before buying or selling gold. The prices of precious metals fluctuates daily, so it’s best to know the price of the day. You should be ready to pay a higher percentage for fractional pieces like half ounces and quarter ounces over the melt prices.

Before you buy gold from gold sellers, ensure you have scheduled a quick delivery. It you don’t have it delivered immediately, find out when you will receive your gold. The expected date must be listed. Don’t go through an order without this documentation.

Check out current market values before you ever sell any jewelry. Doing so will help you figure out if a dealer’s offer is a good one or not. Most dealers will make you a fair offer, but some will try and rip you off.

Find out if the firm you are mailing your gold to will ship it back, and how much that will cost. Many companies offer free shipping; however, they may charge shipping for returns. Be sure you have an idea how much it will cost you to reclaim your items.

Think about shopping thrift and antique shops to discover gold treasures. Many of these places offer great finds in gold at a cheap price if dig deep enough. Lots of folks donate items or sell them in such venues simply because they lack knowledge of their true value. A little bit of effort on your part to look around can yield big results.

Talk to multiple vendors before making a decision about which buyer you’ll go with. You may get a wide variety of offers. Going with the very first buyer might not be a good idea. Be sure to take time to choose your buyer wisely for the best profit.

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. Knowing the true value of a piece can make it well worth the cost of appraisal. A professional appraiser can also point you towards potential buyers for high-quality gold jewelry.

Very often earring backs are made from gold even when the earring itself is not. In many cases ring bands and the clasps of necklaces are real gold too. Because these pieces do not weigh a lot, try selling them as a “lot.” Selling in quantity increases your profit.

In the last ten years, gold’s price has increased about 400 percent. No one knows whether it is smart to invest in gold right now or not, though. Basically, weaker dollar value boosts gold value.

Find out if you can retain any small gems from a gold item that is destined to be melted down. Note that tiny stones are more challenging to extract. The majority of dealers won’t even bother with small gems because they are close to worthless in terms of melt value.

Be aware that you will not be receiving exactly what the gold is worth if you sell it. The dealers buying from you are looking for a profit, of course. They need to make money, and they can’t pay you full price and do that too. As a ballpark figure, you can expect to get about half to three quarters of the pieces’ actual worth.

Be certain you are aware of the true value of the item you wish to buy. Lots of coins that are labeled as “gold” are just plated with gold. If you want the real deal, have the coin appraised before buying.

If you want to focus on the ideal charts when doing a weekly analysis for gold investing, look at the monthly charts. Use MCX charts to locate trends and other important factors affecting gold prices. It is smart to make use of both kinds of charts to research best.

Ahead of selling, have your gold valued. Dealers want to take you while you are desperate for cash. Sometimes they believe they can use this to their advantage. The website, www.goldprice.org is a helpful resource for checking the current price of gold.

Making good decisions about gold investment is an important part of the process. This article should have showed you that so you should now be ready to make better decisions. Remember though, the information here is meant to help you along the way.

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

Wondering What All The Fuss Over Gold Is All About? Check Out This Advice Today!

November 13, 2013 by ·

The price of gold seems to be going up and getting higher everyday. If you are interested in getting involved with this market, know that you can deal with gold like a seasoned pro. By following the tips presented here, you can earn a good profit selling gold.

Get your gold valued by multiple sources. Different gold purchasing entities are at your disposal, and they all require different profits from the purchases. Therefore, it is wise to get several offers to ensure the best price.

When you invest in gold, it is a good idea to go with buillon bars. They come in varying weights. They can be as small as half an ounce or as large as 400 ounces. Be aware that if you are looking for the biggest bars, you will have a difficult time locating them.

When entering the gold market you will want to have an idea on how the precious metals prices are determined. The value of gold tends to fluctuate, which is why it is important to understand the market trends. Gold pieces with fractions of an ounce will command higher prices than pieces weighing one ounce.

All gold buyers are different, so it is important to look around and find someone that you feel comfortable doing business with. Check for online reviews and reports from the BBB and see how these dealers resolve complaints from their customers. Talk to several different buyers and get quotes from all of them to ensure you get the best price for your items.

Why not make money selling your gold to online buyers? Gold transactions do not require traditional physical storefronts. You can also choose to use an independent online site to that specializes in buying gold. You will get a kit to return gold. If everything is okay, they will pay you whatever their current rates are.

It is important to invest in the right type of gold when doing so for your retirement. You must have IRS approved gold. It has to be in the form of 24-karat gold bullion or coins. Consider buying bars instead of coins, since they tend to be more valuable.

Get an appraisal to find out the exact value of your jewelry. Paying a professional to appraise your item is a good investment. Make sure you go to an accredited and reliable appraiser to get valid appraisal papers. If you choose to sell your piece, know that you probably are not going to get the full appraisal amount.

If you are shipping jewelry, be certain you find out how much it’s going to cost to get your pieces back if you fail to accept their offer. Even if you do not pay for shipping the gold initially, return shipping is an entirely different matter. Be sure you have an idea how much it will cost you to reclaim your items.

Use GoldMoney to buy gold. It is kind of like setting up a gold “bank account.” You create an account and fund it; then your account is given some gold at the market price. Your gold sits in a vault until you decide what you wish to do with it next.

Don’t brag about your gold purchases, no matter how excited you are. You don’t know who could try to keep tabs on this, and you don’t want to have to worry about trusting people. Stay quiet about the investment and make sure you keep it safe. This will keep you and your gold protected under any circumstances.

A magnet can be used as a cheap and fast way to determine if a piece is really made of gold. Real precious metals do not stick to magnets. Sometimes only the clasp is solid but the rest is plated. This is a good way to test that.

Do not sell any jewelry solely for its gold content without seeking an appraisal. This is true for pieces made with fine craftsmanship. Even though the appraisal will cost you money, you may get more for your jewelry in return. They may even give you a reference to a buyer.

Never sell gold to a dealer or store with checking their ratings with the BBB first. The BBB has information about each business including any complaints or reviews from others who have used their services. If there were any complaints, you will want to see how the company resolved the issue. If they have a ton of complaints or many that are unresolved, you should consider a different business.

Gold values continue to skyrocket as they have over the previous decade. This is excellent news for anyone who owns gold. No one knows whether it is smart to invest in gold right now or not, though. The weaker the dollar is, the stronger gold prices are.

Now that you have read this article, you should have a head full of ideas about how to get started in dealing with gold. However you decide to get involved, if you work hard you can do a great job. This article should have prepared you to be an investor.

Filed Under: Gold · Tagged:
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