Want To Make Money In Gold? Read These Tips.

January 20, 2014 by ·

Gold is a major player on the financial landscape. Are you interested in learning more when it comes to gold investing in order to safeguard your personal fortune? There are a number of things to think about, whether you buy gold raw or just dive into mutual funds. This article provides information about buying gold as an investment.

When selling gold, sell to reputable buyers. Look at the Better Business Bureau to gather information about the company to see if their legitimate or not. A legitimate buyer will pay you fairly for your gold while giving you great customer service. This can help you to be protected when dealing with gold.

You may think that solid gold jewelry is too expensive and choose to purchase gold plated or filled jewelry. However, don’t feel that to buy gold of real value you need to pay a high price in a fine jewelry store. Pawn shops provide great discounts.

Understand that gold dealers are interested in all gold items. Old or broken jewelry, old coins and tableware are just some of the things that may contain gold, Even things that are not pure gold can have value. Even gold plated items will have some value. You will still get a favorable return.

Make sure you verify the price of gold the same day you plan to buy it. You can find this on a variety of websites, and it can change daily. When going to buy the jewelry, you should not have to pay higher than 8% markup over the spot price. Many dealers try to overcharge you; however, by being informed you can avoid this trap.

Be aware of the true value of your items. Not everything is worth what you think it’s worth. Usually gold is mixed with other metals to give it strength. That can make it less valuable. Many items are only gold plated. If you’re not sure about the value of your items, you should have them appraised before you try to sell.

A cheap and quick way to test gold is to use a magnet. Gold and other precious metal will not be affected by a magnet, which means that they won’t stick to it at all. Sometimes a jewelry piece is only plated in gold with a solid gold clasp. A magnet is a good tool for discovering fake gold.

Confer with the gold party rep to determine the method used for judging karats. In most cases, the item is simply stamped. However, at other times, there is no stamp, so a lot of reps use other ways to find out. Acid testing is a very simple method, so if a representative is using this, they might be new.

Remember to research the gold market prior to investing any money. Some individuals pretend to market experts but who are in fact just trying to dupe you into investing through them. When they make huge promises, they can’t keep them. Do not think of gold as some way to get rich quickly, and you won’t be disappointed.

If you’re thinking of selling your old gold jewelry and scraps to a gold-buying business, it’s crucial that you check their reputation on the Better Business Bureau’s website first. The BBB has information about each business including any complaints or reviews from others who have used their services. Take a close look at complaints, and look to see if resolution was achieved. If you see lots of complaints that have gone unresolved, think about moving on.

Karat Weight

The first thing you should do when selling gold is group the pieces by karat weight. Don’t allow the dealer to rip you off by pricing all the gold at the least pure karat weight. This will result in you receiving less money. Rather, approach the vendor with separated piles in order to maximize your profit.

Research each buyer carefully to ensure a good deal. This is critical if you are looking into a mail-away type service with a buyer in another state or community. Check the BBB’s website to see if there have been any complaints lodged against any company that you’re thinking of using.

A way to get gold at a great price is to simply ask your relatives if they want to sell broken gold jewelry. Get yourself an accurate scale that can weigh the jewelry so you know how much to offer your relatives and still make a profit from the deal.

This article has taught you a lot about trading gold. Now, you’re equipped to make smart investment decisions. Follow this advice to begin making money through gold investment.

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

Tips To Help You Make Money With Gold

November 14, 2013 by ·

What would you say if I told you an investment in gold could provide you with the answer to all of your prayers? Only if you have the right knowledge can you turn a profit large enough to retire on. The information below is an introduction that offers expert advice about gold.

Before buying or selling gold, know how all the prices work. Precious metal prices vary from day to day and it’s best to check the price before selling or buying gold. Also, understand that some types of gold will be more expensive than others.

Sometimes the cost of gold causes buyers to go for cheaper imitation jewelry instead. You can still buy gold jewelry without spending too much at the jewelry store. Online auctions, estate sales and pawn shops are only some of your options.

Be sure to select carefully when considering taking your gold to a pawn shop or jeweler for sale. Many stores do not pay the going rate for gold. Stores located apart from larger shopping centers may have fewer fixed costs and are thus, able to pay higher prices.

It’s always a good idea to verify the spot price before making a purchase the same day. This price can be found on a number of websites. Never pay any more than an 8 percent markup on the gold prices. Occasionally an unethical dealer may try to overcharge their customers.

If you decide to mail your gold to a buyer, find out how much mailing and insuring these items will cost you and how much you will have to pay to have the items mailed back to you in case you do not accept the buyer’s offer. They may not charge you to send it to them, but they could gouge you to send it back. By knowing this information ahead of time, you can prevent unnecessary charges.

You can use a magnet to test precious metal inexpensively. Gold and other precious metals are non-ferrous, so they won’t be attracted to a magnet. Sometimes only the clasp is solid but the rest is plated. You can test your jewelry this way.

Ask the gold party representative about how the gold’s purity in karats is determined. Many times the item will have a stamp. However, if there are no visual indications, there are other ways to determine purity. The most simple test involves the use of acid. If the company claims to use that type of test, it may be an indication that they are not as experienced with accurate testing methods.

Solid Gold

Sometimes an item will have solid gold backing; although, the jewelry is not solid gold. Ring bands, clasps on necklaces, and other easy-to-overlook bits of jewelry also often have significant gold content. These pieces don’t weigh much, so try selling them all as a “lot.” A lot is a collection of separate pieces weighed and sold together; selling off jewelry in lots is often the best way to get maximum value.

When you go to sell your gold have it separated into how much each karat weight. When you try to sell your gold as one large group, the seller might attempt to weigh everything at the karat weight that is lowest. You will lose money that way. Before making your trip, have your pieces separated before you walk in.

One option when selling your gold is to send it away in the mail. Many sellers enjoy this method due to how simple it is. You ship your jewelry in a prepaid envelope, and then you receive a check. One thing to consider, though, is that the majority of these places won’t pay nearly the same amount as a local place in your area. You might even take a thirty percent loss. Understand that going in.

Although you will not find fortune overnight, it is possible to attain impressive profits over time. A series of modest goals, combined with dedication, will lead to success. The race is won by those slow yet steady. You can enjoy the full process when you don’t force it.

Filed Under: Investing In Gold · Tagged: , ,

Good Tips To Use When You Need Information About Gold

September 11, 2013 by ·

To put gold into your personal investment portfolio, you need to learn the right way to do it. It is not so simple that you can just dive in, but having all the information you need prevents it from being too complicated. It contains everything you need to know about selling and buying gold.

Precious Metals

Be well informed about the value of precious metals before buying or selling gold. Prices of precious metals fluctuate everyday, so pick a day to check on the spot price before you buy or sell. You may have to pay higher prices, though, for pieces that have a small fractional measurement.

When you purchase gold, it’s important to set a fairly stringent schedule for delivery of your metal. When dealing with a vendor, it pays to seek written confirmation of the expected delivery date. This is crucial if they do not offer the option to deliver immediately. The date they expect you to get them should be listed. Don’t go through with the order if they can’t provide you with the delivery date in writing.

Be aware of the going rate of gold before you sell you gold items. This will assist you in determining if the offer you receive is fair. Many dealers will pay market value, however others rely on people desperate for cash to get the most for themselves.

If you’re thinking of mailing off some jewelry to someone, you need to be sure you do your research first. Be sure you figure out when you’ll get sent a payment, and be sure things are insured too. Make sure that you photograph each piece of gold you’re sending before you mail it off.

Anything with gold can be sold to a good dealer. Whether it is jewelry or home decor related, it could be an everyday item that you have within the home. It is not really necessary for these items to be solid gold. It could be plated gold or it could be that just a portion of the item is made of gold. You will still receive money from the sale of these items.

Use a magnet to determine if an item is made of gold. Precious metals do not respond to magnets. Often the clasp of a piece is real gold, while the rest of the piece is just plated. Magnets will let you tell the difference.

Earring backings are often solid gold, even when the earrings are not. In addition, necklace clasps or ring bands may be gold, too. Those odd pieces should be sold as one lot, as they weigh so little on their own. By selling them as a collection you will get a higher price.

You don’t have to physically own gold to invest in it. You could buy stocks in a mining company or shares in a gold ETF. You should always consider the costs to store gold.

Mail-in options exist for those wanting to sell gold. Although this process may be easier, you may not earn as much money. You get a prepaid envelope, you put your jewelry in and you ship it off, only to get a check in return. One thing to consider, though, is that the majority of these places won’t pay nearly the same amount as a local place in your area. Keep in mind that you could be looking at a return of 30% less than other options.

Gold is a very lucrative but volatile investment. If you would be made anxious by unexpected peaks and valleys in the market, you should avoid it. Limiting your risk is important even if you have a great deal of strength. You should invest only 10% of your portfolio in gold. 5% is a good amount.

You can get the best gold deals by buying from people. You need to know the risks before purchasing any gold. Because of this, requesting an appraisal for the coin in question is key. If a person has an inexpensive coin for sale and you’re sure the coin in question is real, go ahead and make the purchase.

After reading the above information about gold you should be able to test your knowledge in this market. Use them whether you are on the buying or selling end of a gold deal. Learn more by experience. Putting your money in gold is a valuable place to keep your money as you’re planning your future.

Filed Under: Investing In Gold · Tagged: , ,
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