Mine These Tips And Tricks For Success In Gold

January 28, 2014 by ·

Good information will help anyone get a good start in gold trading. Maybe you have given gold trading some thought. If this describes you, read on for helpful gold information.

Changes in the current price of gold will affect the price you will get. Weigh your gold by karat for the greatest deal. Don’t sell jewelry that is more valuable due to maker or designer.

Research a gold buyer before selling your gold. You can see how various dealers handle customer complaints by viewing online reviews and contacting the BBB (Better Business Bureau). Soliciting multiple bids will help ensure you get the best price.

Before you buy gold, be sure you know exactly when it will be delivered to you. Be sure you have your delivery date in writing. Immediate delivery is best. The date they expect you to get them should be listed. Do not complete the order unless you have this in writing.

If you plan to mail your gold jewelry to a firm, do some research on them and their policies before you do so. Know exactly how much money you can expect to receive, and make sure that the package you send them is insured. The final step is to take photos of your jewelry, just to be sure you can fight any future problems that may occur.

Scrap gold is an excellent investment if you are working with limited investment money. You can do this over a period of time, say around each pay day, and accumulate a considerable amount of valuable gold within a year or so. Make sure you keep the gold secured. A safety deposit box is a good place.

When you buy some gold jewelry for another person, make sure they have a refund policy. You do not know if the gift receiver will like it or if the piece fits. This is a huge problem.

Never sell your gold to someone who does not have the appropriate state licensure. You could still have a problem, but licensed buyers are more likely reputable. There are plenty of buyers for gold, so do not think that you must make a sale to the first buyer that you meet.

Think about GoldMoney and other such services when you want to buy gold. It is very much like opening a “gold banking account.” You create an account and fund it; then your account is given some gold at the market price. Your gold is physically kept in a vault where it can be cashed in, segmented or redeemed for bullion bars.

Buying gold can be exciting, but you might not want to tell a lot of people about it. You can’t be sure who’s listening or who is trustworthy. Protect your investment in a secure home safe or in a safe deposit box. This protects you as well as your gold.

Know what you’ve really got. Everything that appears to be gold isn’t worth its own weight in it. In many cases, additional metals have been mixed with the gold to strengthen it. Items that are not pure gold have a lower value. This is also true of items that are just plated. Get your items appraised before selling your gold.

Before you sell your jewelry as scrap gold, have it appraised. You definitely want to have jewelry with beautiful details and crafting well looked over because the value could be much higher. An appraiser will charge you a nominal fee, but it is an expense worth paying if your piece is unique and valuable. The appraiser may also know someone who maybe interested in your jewelry item.

Sort your gold by how many karats it is. Some buyers will weigh all your gold at once and offer you what the smallest karat weight is worth. This of course results in fewer dollars for you. The way around this is to present the gold to the buyer pre-separated so that you get fair market value for each piece.

You should now understand that anyone can participate in gold investing. Hopefully, the tips presented here have expanded your understanding of how gold investment works. Having read this information, you can now invest with verve and confidence. Keep up the good work.

Filed Under: Selling Gold · Tagged: , , , ,

Simple Steps To Help You Better Understand Gold

January 5, 2014 by ·

Gold is a great investment to help balance your portfolio. However, you have to know what you are doing, and you have to think about the choices available to you. Keep reading to learn more about how to make good investment choices when it comes to gold.

Stay with reputable firms when selling gold. You are able to find out more about their reputations with the local BBB and through online reviews. A reputable buyer will typically pay you a fair price for your gold, and they will offer better customer service than less reputable buyers. Don’t let yourself be taken advantage of.

Prior to doing anything with gold, be it buying or selling, you must become knowledgeable about how pricing operates. With silver, platinum and gold the prices vary wildly throughout the day, and in order to get the correct price you must spot check it on the day before making a purchase. You may have to pay higher prices, though, for pieces that have a small fractional measurement.

Always do your homework to find an honest and reputable gold buyer. Check online reviews, BBB.org and their websites. When you get bids from multiple buyers, you may be able to get top value for the gold.

Market Value

Always check out the up to date market value for gold before you seek your gold jewelry. Doing so will help you figure out if a dealer’s offer is a good one or not. Many dealers will pay market value, however others rely on people desperate for cash to get the most for themselves.

You can get into the gold market with just a small investment in scrap gold. Invest small amounts of money in scrap gold. After a few months, you will have accrued a significant store of gold. Store your gold in a secure location until enough to cash in has been amassed.

Comparison shop when selling old gold jewelry. Bear in mind that the market price for gold you can find online (the “spot”) is only an average; different dealers will offer you different prices under (or even over) the spot. Look for stores off the beaten path as they often have lower overhead and better deals.

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. Many private buyers and pawn shops are only willing to give the melt value. Don’t let this discourage you, because you will eventually find the buyer you are looking for.

Licensed Buyers

Sell to licensed buyers only. Licensed buyers are generally more reputable than unlicensed buyers. Never sell without doing research and verifying the dealer is licensed.

Understand what you really have. Even though the item looks like gold, it may not have much value. Quite often, other metals are mixed with gold to give some strength to the metal. This will lower it’s worth. Gold plate is also not very valuable. When you don’t know what you’ve got, have it appraised ahead of selling it.

With luck, you now feel comfortable adding gold to your portfolio. It’s a good investment that can help tide you over beyond your current retirement funds and other types of investments. Understanding the different options and how they will affect your investments will help you buy and sell gold confidently.

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

Wondering How To Get Into The World Of Gold? Try These Tips!

September 22, 2013 by ·

Gold is something that has been a tremendous value and worth. Since its discovery in ancient times, humans have treasured gold. If you want to start trading in gold, the tips below will help you.

You’ll want to know just how much your gold will be worth when selling it. If you make the decision to sell gold, separate your pieces by purity level. You should not sell jewelry as gold scraps if its worth is higher because of the brand or design.

If you have an interest in getting into the gold markets, but don’t have a lot of investment capital, consider buying scrap. This can accumulate over time, and you can see how this can make a valuable investment. Store it in a safe hiding spot until you have accumulated enough to cash in.

Check the return policy before you buy anyone a gift of gold. What if it doesn’t fit? Because this isn’t rare, it’s crucial that you have the ability to return the jewelry for a refund if it’s necessary.

If you want to unload scrap gold pieces or jewelry items for cash, do your homework first. The current value of gold may be one price, but that certainly doesn’t mean every buyer is willing to offer it. Look for stores off the beaten path as they often have lower overhead and better deals.

Melt Value

When selling any gold, you have to decide if it will be as jewelry or for its melt value. Most buyers will offer you just the melt value for your gold. Don’t lose faith; there is always someone willing to buy the item as an entire piece.

Sell only to gold buyers who are licensed. There’s still a chance of getting a bad deal, but chances are your buyer will be more than reputable. Many establishments purchase gold, so there is no need to sell yours to the first buyer you deal with.

Even though gold buying can be thrilling, try not to talk much about it. This is because you never truly know who may be listening. Protect your investment in a secure home safe or in a safe deposit box. These methods provide you with safety and security.

Know exactly what you have. There are many things that look like gold, but are completely worthless. Many times, other metals get mixed with gold for more durability. That can make it less valuable. This also applies to gold plated items. Getting gold jewelry appraised is always a good idea if you want to be clear about the potential sale value it represents.

Before selling your gold, comparison shop. You might be amazed by the variety of offers received. If you go with the first buyer that you meet, you may end up with the worst deal possible. Invest the time into the process, and you will be rewarded in the end.

Have all jewelry appraised before selling it as scrap gold. This is especially true for one-of-a-kind pieces like jewelry with intricate details and workmanship. Appraisals cost money, but often are a good investment. Appraisers might be aware of parties interested in your jewelry.

Many times earring posts are made of solid gold, even when the actual earring is not solid. Sometimes rings are only partially gold, and sometimes necklaces just have gold clasps. Those odd pieces should be sold as one lot, as they weigh so little on their own. This is when many pieces are sold together to net a larger profit.

Before you buy gold, get to know the dealer. To ensure you’re dealing with someone legitimate, do some research with the BBB. You can phone the BBB or visit their website to see if any customers have filed any complaints against a company for not-so-great business practices. If you find complaints, think about going elsewhere for your transaction.

Karat Value

When selling gold, separate it into different karat value groups. The karat value determines the gold’s value, so you are unlikely to receive the best price for your gold if it is all weighed together. The higher the karat value, the higher the value of your gold.

Be aware that you will not get the full price for the gold you are selling. Gold dealers are business people similar to other business people. Gold dealers cannot make money if they pay full price for an item, as there is no margin then for mark up. Expect offers to be in the range of 50-70% of the entire value.

See what gold’s value is before you sell it. Most dealers are aware of the fact that you want quick cash when you come to them trying to sell gold. They’ll attempt to whittle down the sales price to maximize their profits and minimize your own. Goldprice.org is an excellent resource for locating current pricing information for the gold market.

Whenever you’re selling gold to someone interested in buying it, make sure that you photograph everything. Be sure to find out what guarantees exist if your jewelry is stolen or lost when it is in their hands. Make sure to have this in writing for protection.

If you’re looking to sell gold coins, be sure to take both collector value and value by weight into account. You may lose money if you sell your coins for scrap gold melt. Doing your research beforehand will help you figure out what it’s really worth.

Get your gold appraised to ensure that you receive the very best deal. It does cost money to do so. Paying a small fee is necessary in order to make sure the buyer gives you a good price for your gold.

Now you are better educated about the value of gold and why it is so treasured by people all over the world. Gold is a great investment that’s beautiful to look at and wear. Take the things you’ve learned from the above article and use them to your advantage when dealing with gold.

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