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: , , ,

Great Tips On Gold: Buying And Selling

December 22, 2013 by ·

Everyone knows how much popularity gold has gained since the economy has turned sour. Hordes of investors are rushing to ensure their wealth by investing in gold. The following piece is meant to help investors of all stripes get the maximum value from gold.

Bullion bars are an excellent gold investment. There are numerous sizes available. Bars may be a half ounce, 400 ounces or anything in between. The larger sizes are considerably more challenging to find.

Look for a gold buyer that has a good reputation. Check for online reviews and reports from the BBB and see how these dealers resolve complaints from their customers. A variety of bids will ensure that you receive the best price.

Think about selling gold on the web. You don’t need to have a physical store location anymore. There are many places to sell gold online. You will receive a kit that will allow you to mail your gold items off. They will pay you their standard per ounce price for your gold.

Before selling your old and broken gold items for cash, make it a point to visit at least 3 or 4 buyers. 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.

Buy Gold

Only sell to buyers that have a state license to buy gold. You could still have a problem, but licensed buyers are more likely reputable. There are various people and stores that can buy gold, so do not think that you must go with the first one you encounter.

Remember to look for gold in thrift and antique shops. Just make sure you know what to look for. Many people don’t understand how valuable their items are, so they sell for cheaper than they could at these places. If you’re educated on how to make these finds, you can score some great deals.

Know what you are working with. Pieces that appear to be gold may not be worth gold’s weight. Many times, other metals get mixed with gold for more durability. That can make it less valuable. This applies to gold plated items as well. Getting gold jewelry appraised is always a good idea if you want to be clear about the potential sale value it represents.

Prior to picking a gold buyer, comparison shop. You never know what kind of offer you will receive! When you just take buyer number one, you may lose money. Spend the required time to comparison shop before making any decisions.

Do not invest in any market before you have done your homework. So-called market experts may really be trying to grab your investment resources with little benefit to you. Be wary of any claim to help you get rich quick in the gold markets. As long as you are reasonable and rational about these claims, you will find it easier to focus on the goal and the best way to achieve it.

Only buy from a dealer you know. Check the Better Business Bureau to make sure a gold dealer can be trusted. You will be able to learn if there have been any complaints lodged against them. If complaints are filed, look for a different dealer.

Research any buyer before you decide to purchase any gold. Gold dealers who do not have a storefront need to be researched intensely. Gold purchasing firms ought to have a BBB listing so you will be able to determine whether any complaints have been filed.

Establish some goals before deciding what kind of investment is best for you. Gold may make a volatile investment; however, it can be good insurance against inflation. If you limit your risk and have set goals, you are more likely to profit.

It’s essential that you do not buy too much gold at a time. Do not expect to get an income from your investment in gold. The price tends to fluctuate a lot in the gold market. Equities go down, but gold continues up. Limit your gold investment to five percent of your portfolio.

Take photos of all your gold pieces before you let a buyer inspect them. Be certain that you inquire about guarantees in the event of theft or loss. Get everything written down because it will protect your interest.

When it comes to selling gold coins, remember to consider their collectible value as well as their value in terms of weight. You may lose money if you sell it by gram weight alone. Therefore, research is essential before making any sort of sale.

Keep a complete inventory of any gold items you mail to a buyer. Make sure you make duplicate copies of everything sent. In this way, you can ensure you are both literally on the same page.

When mailing away gold to sell, find out what you can do if the items are lost. Some companies have rules about what they will pay you if something goes wrong. If they limit liability, see if you can buy additional insurance.

Gold has become increasingly popular in recent years with the economic downturn. If you are planning to invest for the long term, gold is a good choice because it is the international currency. Hopefully, this article has offered you some helpful information.

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

Get To Know Everything There Is To Know About Gold

December 14, 2013 by ·

Gold is a staple of savvy investors. Wouldn’t you like to know more about investing in gold so that you can make sure you have a strong hold on your investments? You must consider many different things when you are deciding whether to buy raw gold or purchase shares. Continue reading to learn more about gold as a financial investment.

When selling gold, it is a good idea to get an estimated value from more than one source. Gold buyers and jewelry stores are out to make a profit, so they’ll all pay less than the actual value of the gold you’re selling. By getting multiple estimates, you can be assured that you will get a fair price when you sell.

Never deal with a gold buyer or seller who does not have a favorable reputation. Use both Internet reviews and BBB complaints and information to discern someone’s reputation. A good buyer is going to give you a good price, and will provide you with superior customer service too. Doing this protects your investment.

Gold Broker

Make sure you research any gold broker you do business with. You want to work with a reputable gold broker. The BBB can be a great research, as can online customer reviews. If you get quotes from multiple buyers, you will get the most for your gold.

When you purchase gold, it’s important to set a fairly stringent schedule for delivery of your metal. It you don’t have it delivered immediately, find out when you will receive your gold. The expected delivery date should be noted somewhere. Proceed with the order only if you get this confirmation.

Gold prices may be so high that you may feel that it is best to choose jewelry that is gold-filled or gold-plated instead. However, it’s still possible to buy gold jewelry and not need to spend a fortune at the jewelry store. Pawn shops provide great discounts.

If you are buying gold as a form of a retirement fund, make sure to buy the right kind. Gold needs to be IRS-approved. They have to be 24 karat coins or bullion bars. Gold bars tend to hold their value better than gold coins.

If you are purchasing gold jewelry for another person, you must be certain about the return policy. You do not know if the gift receiver will like it or if the piece fits. It’s always a good idea to be able to get your money back on a jewelry purchase if it doesn’t work out for you.

Get an appraisal if you do not know the value of your gold jewelry. This adds an up-front cost, but it could save you a lot of money later. You will want to find someone who is accredited in gold appraisal to get the proper value of the piece. Even if you still choose to sell, do know that you aren’t going to get the appraised value.

Comparison shop when selling old gold jewelry. Even the market “spot” price of gold is a national standard at any given moment, not all stores pay it. You might get a better deal at a store not in a major shopping mall, since their overhead and rent is lower.

Check gold prices on the day your are buying or selling gold. This price changes every day. You can locate it on several different websites. Don’t buy anything marked up over 8% of this. Knowing the value of your gold will keep you from getting ripped off.

Look around before deciding on purchasing from a gold buyer. You may be surprised at the differences in the offers that you’ll get! Going with the very first buyer who comes along might prove a bad deal. Get the most money for your gold by spending time to comparison shop.

Always do your own research into the gold market before you make any investments. Some people will claim to be experts in the field. However, you need to be very careful when it comes to promises about making you rich. You will certainly avoid the getting rich quick way of thinking if you have realistic expectations.

Before you sell a piece of jewelry for scrap, have the piece appraised first. This is an absolute must-do if you are selling unique, handcrafted pieces of jewelry. You might have to pay a fee to get this appraisal, but it might bring you profit eventually. They may even give you a reference to a buyer.

There are many options available to individuals looking to purchase gold as an investment. Buy shares in traded or mutual gold funds or invest in some gold mining stocks. Purchasing gold bars and coins means you must have a secure place to store them.

Gold should be separated by karat weight before sale. A vendor may scam you by weighing what you have together by the lowest weight in karat. You’ll lose out on a lot of potential profit this way. Separating the gold before you go prevents this from happening.

Don’t sell your gold just because you feel it would get a good price. You want to get the best price you can. If you try to sell quickly you may leave profits on the table. Keep your gold as long as possible for the greatest earning potential.

In order to become a great trader, you need to learn how gold is tested. Gold’s purity is identified in karats. The purer the gold, the higher the karats and the more valuable it is by the ounce. The karat stamp alone is not an indicator of the true purity of gold. Knowing how to test the purity of gold will ensure that you will not overpay for poor quality.

You probably are amazed how much goes into buying and selling gold now that you’ve read the last few paragraphs. Now your decisions can be solid. Use this advice to turn your portfolio into a money maker.

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