Need Ideas For Dealing With Gold? These Tips Rock!

November 10, 2013 by ·

If you are an experienced investor, you probably recognize the value in commodities. Gold is the number one commodity available. No matter if it’s put away for the future or perhaps you seek profits in the short-term, the following article about gold offers a wealth of information.

When you decide to sell gold, you should get a few sources to give you an estimated value. Many jewelry stores and gold buying services are available, and they will all usually take a different profit on the gold they are purchasing. By getting multiple estimates, you can be assured that you will get a fair price when you sell.

Before selling your gold, be sure to check the current price. It changes all the time. If you have made the call to sell any gold you have, group your pieces by karat value. Do not sell your designer jewelry for its weight in gold because you will lose money.

Sell your gold online. Gold deals no longer have to take place at a “real” store. There are dozens of reputable websites where you can buy and sell gold. Contact the site, and they’ll send out a shipping kit so you can send them your gold. If the transaction goes smoothly, they’ll give you a quote and you can either accept or decline the offer.

Gold Jewelry

Do not allow the high price of gold to deter you from buying quality products. You will not benefit from buying jewelry that is plated or filled with gold. You do not have to pay full price for gold jewelry if you find that the prices offered by jewelry stores are too expensive. You can buy gold jewelry more cheaply in pawn shops or online.

Look at the current gold market price prior to selling your pieces. That is going to help you figure out whether you are being offered a good deal. The majority of dealers will offer you market value for your gold, but some know that sellers just want to convert their items into cash quickly, and they take advantage of the buyers.

If you plan to sell jewelry through mail-in companies, make sure to do your research first. You should be clear about when you can expect to be paid. Insuring your gold shipment is a good idea, too. Last, but not least, photograph each item you are sending via mail so that you have recourse if a dispute occurs.

Always check the daily spot price before you buy gold. Many websites update this information daily. When purchasing, don’t pay greater than 8% markup above the spot price. Many times sellers will try to sell it at a higher price.

It is important to understand that market before becoming active in it. Every marketplace has bad apples, but the gold arena is renown for possessing quite a few. Many people want to keep the money you are owed for themselves. Do your homework before giving anyone your business.

Even if your earrings are not real gold, the backs may be. The bands to rings and necklace clasps are often times real as well. These sorts of items are often lightweight and should be sold as a collected lot rather than individually. This is when many pieces are sold together to net a larger profit.

When you are negotiating with someone dealing in gold, read all the forms that are given to you. This business is about the dollar signs, and you must recognize this. Understand precisely what you are asked to sign. If you’re not comfortable with any terms, pass on it. It’s important to protect your finances.

If you just want to off-load your gold, you should pause. Just because the price is higher than ever doesn’t mean it won’t go even higher, since gold is something tends to continually increase in value. You may be able to sell your gold for even more later if you hold onto it now.

Figure out what you want from buying gold before putting your money into it. Gold can provide a hedge against inflation, but its value can also be very volatile. As long as you establish limits regarding exposure and make certain your goals are clear, you stand a good chance of doing well.

After reading this article, you should know more about gold than you did before. Save for retirement or just for a rainy day, or reinvest your earnings. Keep all of this in mind to succeed with gold.

Filed Under: Gold · Tagged: , , , ,

Stop And Read This Article If You Need Help With Gold

November 4, 2013 by ·

Anyone following the gold market is aware of the new interest stemming from investors from all walks of life. If you wish to trade in gold, you have to really get the knowledge to do so from people that know what they’re talking about. Read on to get started with gold trading.

Only sell to reputable buyers. Get with the Better Business Bureau or check out reviews online if you’d like to learn about someone’s business. A good buyer is going to give you a good price, and will provide you with superior customer service too. You should do this to better protect your gold investment and yourself.

If you don’t have much money to invest in gold, you could start by purchasing scrap jewelry pieces. This can be done in tiny increments which allow you to build wealth slowly. Keep your collection safe until you have an sufficient amount to cash in.

If you’re not sure about the value of your jewelry, you can have an appraisal done. It costs a bit of money, but you’ll have a good idea of what your gold is worth. And make sure you only hire an independent and accredited appraiser to be sure you get an honest appraisal. Also keep in mind you usually won’t get the full value if you do decide to sell the gold.

Anything with gold can be sold to a good dealer. It may consist of decorative items, gold table ware, old items of jewelry and so on. Note that these items need not be pure gold. It could just have a tiny amount of gold or be gold plated. You will still get a favorable return.

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 which are not centrally located may be able to give you a better price.

Spot Price

Make sure you know the spot price of gold the day you plan to buy or sell. A number of websites feature this information, and it changes daily. When going to buy the jewelry, you should not have to pay higher than 8% markup over the spot price. Some dealers charge more than that, but it is a rip-off.

If you don’t want to worry about storing, shipping and insuring your gold, consider buying GoldMoney instead. This service is similar to a bank account that holds deposits in bullion rather than currency. You put money into it like any other account, (e.g. a savings account) but it’s converted into gold bullion. The gold remains in the bank until you sell it.

Comparison Shop

Before selling your gold, comparison shop. You might be amazed by the variety of offers received. If you choose to sell to the first buyer, you might get a bad deal. Spend the required time to comparison shop before making any decisions.

Talk to a rep at a gold party to see how they figure out the number of karats in a jewelry piece. Items are usually stamped. If there is no stamp, there are different ways to test the gold to ensure it is solid. Acid tests are an easy way to determine value.

Never sign a contract without thoroughly reading it first. Read any fine print before you decide to offer your gold to a mail-in buyer. That way, you will be aware of the cut of your proceeds that will go to fees and commissions.

Before you sell gold jewelry for its scrap value, have it professionally appraised. This rings true especially concerning pieces that are one-of-a-kind. You may have to pay to have a piece appraised, but it’s worth it. In addition, appraisers may know people who may be interested in your jewelery.

It should come as no surprise that enthusiasm over gold’s potential as a means of safeguarding and consolidating personal financial resources is at an all-time high. Maybe you’re someone who needs to learn more about gold. You can make a successful investment by following the tips you just read and doing more research on gold investments.

Filed Under: Investing In Gold · Tagged: ,

Gold Info You Ought To Know About

October 29, 2013 by ·

If you are looking to invest in the gold market, you have made a smart decision that can help round out your portfolio. However, you need to understand all you can about the gold market. This article will help you to understand what some of the advantages of gold buying and selling are.

When selling gold, it is a good idea to get an estimated value from more than one source. There are many places to get this done, and some will pay you more than others. By getting multiple estimates, you can be assured that you will get a fair price when you sell.

When you sell gold, deal with a reliable buyer. You can find out if they’re trustworthy by looking at the BBB reviews. A legit buyer will offer a fair amount for the gold you have. Protect your interests and your gold by doing this.

Gold Jewelry

You may think that solid gold jewelry is too expensive and choose to purchase gold plated or filled jewelry. However, you can still find a deal now and then, which you can turn around and sell for a profit. There is cheaper gold jewelry at pawn shops or online.

You must be sure to purchase the right type of gold if you hope to rely on it in your golden years. The gold has to be IRS approved. They must be 24 karat bullion bars or coins. You should be more inclined to buy gold bars, which hold greater value than coins.

When selling gold, you must decide whether you’re selling a piece for its melt value or just jewelry. You will see that pawn shops and private buyers only pay melt value. Don’t let this hamper you, because you’ll find the right buyer eventually.

Spot Price

When you decide on buying gold the first thing to do is look at the spot price. Many websites update this information daily. Never buy something listed at more than ten percent of the spot price. Some sellers try charging more, but that’s overcharging, which is generally unethical.

When considering mailing your gold away for sale, be certain you know how much return mail will cost should you change your mind. A lot of companies say they’ll let you ship for free, but to get things back they charge quite a bit. Be sure that you find out ahead of time how much it will cost to get back your jewelry.

To verify that a particular piece of jewelry isn’t simply plated, you can try testing it yourself with a magnet. Real gold won’t stick to a magnet. In some cases, jewelry may have a clasp that is made of gold, but the rest of the jewelry piece is made of plated metal. A magnet is an easy way to test.

Confer with the gold party rep to determine the method used for judging karats. A lot of the time you’ll find a stamp on the item. Sometimes, however, there is no visual sign, so many representatives have other methods of figuring it out. If you see the gold buyer performing an acid test, this is probably somebody who is inexperienced in this market.

When you make a transaction with a gold buyer or seller, make sure you understand all the terms. This business is about the dollar signs, and you must recognize this. You need to know what you’re signing. Don’t be afraid to pass on anything that has terms you don’t agree to. Protecting yourself is hugely important.

In order to become a great trader, you need to learn how gold is tested. Gold purity is measured in karats. As you higher in the number of karats, the more valuable the piece of gold is due to its purity. Don’t just believe the karat value expressed by the karat stamp. Knowing how to test the purity of gold will ensure that you will not overpay for poor quality.

Research the buyback policy of each prospective buyer and seller. Certain buyers assess premiums for reselling your gold, whereas others will not. Figure out if it is worth sending out big gold coins or bars to buyers not located in your area. It is best to take the gold as soon as you purchase it from your local dealer.

Investing in gold on the long-term is a good strategy. So, don’t just purchase gold in times when it is high in value. Wait for prices to become lower before investing in gold. Buying gold steadily over time as the value rises and falls actually give you a better return over time.

Don’t get into a complicated situation if you’re just starting out as a gold investor. Avoid complicated investments such as gold futures. Futures are not only complicated, but they tend to change. You can lose a lot of money in a hurry if you don’t know what you are doing. Let the more experienced investors deal with complex investments like this.

Gold Coins

If you can, buy American gold coins minted before 1933. Gold coins were used every day until that year when President Roosevelt recalled them. Many people kept these coins anyways and they are available to buy.

Be aware that you will not get the full price for the gold you are selling. Dealers need to make money like other businesses. They want to generate profits and need a margin to do that. You can expect to get about 50% to 75% of the market price.

Gold isn’t a short-term investment. It is wise to hold onto your gold and let it accumulate in value over time. However, the best time to purchase gold is when the market is calm. In rough economic climates, gold shortages have arisen.

With any luck, you know believe that gold is for you. This strategy joins the gap between mutual stocks and funds and liquid cash savings. Gold is a great investment that requires knowing the different types of risk in the different choices out there.

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