Read These Tips About Making Money With Gold.

October 6, 2013 by ·

With the recent rough economy, there are a great number of people who are turning to gold investment in the hope of keeping their money more safe. That said, you have to have some knowledge behind you to be successful. Read on to learn about the pros and cons of trading in gold.

Research a gold buyer before selling your gold. You want to determine how the business treats its customers and whether there are outstanding complaints against it. Soliciting bids from multiple companies ensures that you receive the most money per transaction.

If you are looking to gold as a retirement vehicle, be certain you invest in the proper kinds of gold. The IRS must have approved the gold that you receive. That means only 24 karat and only coins or bullion. You should be more inclined to buy gold bars, which hold greater value than coins.

Containing Gold

Realize that all items containing gold have some sort of resale value to dealers. Don’t overlook flatware, watches, jewelry and even broken pieces as potential sources of profit. It also doesn’t have to be 100% pure gold. The items can be gold-plated or made of an alloy containing gold. They won’t be worth as much but you can still get money for them.

Be sure to consult the spot price on the day when you plan to purchase gold. You can find this on a variety of websites, and it can change daily. Never buy something listed at more than ten percent of the spot price. A few dealers attempt to charge you more than this, but this means they are trying to rip you off.

You may even be able to find old gold at thrift shops or garage sales. Many of these places offer great finds in gold at a cheap price if dig deep enough. Lots of people sell their items here for low prices, because they are not aware of the value. Their lack of knowledge can be used to your benefit, if you know what to look for.

Talk to multiple vendors before making a decision about which buyer you’ll go with. You might get surprisingly different offers that reward your patience. If you accept the first deal offered to you, you might be sorry. Get the most money for your gold by spending time to comparison shop.

Make sure to conduct independent research prior to investing any money. Some people will make false claims to try and get you to invest. When they make huge promises, they can’t keep them. Don’t think of buying gold as a means to overnight riches, and you will never end up being disappointed.

Be certain to review the sales contract carefully. If you are going to sell gold pieces to a mail-in buyer, look at the fine print prior to selling to them. This way, you will know the exact amount of the fees and commissions you will be paying.

Have all jewelry appraised before selling it as scrap gold. You may have pieces that are worth more than their weight in gold due to historic or artistic value. The appraisal isn’t free, but it can boost your selling price. This is also a great way to locate buyers who might be interested in your gold.

There are many options available to individuals looking to purchase gold as an investment. Buying gold-focused mutual funds and stock in companies that mine gold are other options for investing in gold. Choosing to own gold means that you must have a secure place to store it.

Gold has played a large role in the lives of people throughout the centuries. If you want to trade gold successfully, you must be well educated. The preceding article should have provided precisely such information.

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

What You Need To Know About Buying Gold

October 3, 2013 by ·

Gold is something that many people love, but do not know much about. This makes it difficult to get all the benefits of gold. If you are not gold-savvy, these tips can help you.

Understand the spot price of gold before selling any. When selling gold, be sure that items of differing karat values are weighed separately. Stay away from selling high-end jewelry pieces because they have more value.

Go with a reputable gold vendor when selling. Their reputation can be verified though online sources, as well as the BBB. A good buyer will treat you well and offer a fair price on your jewelry. Do your homework in order to safeguard both you and your financial investment.

Prior to selling or buying gold, be certain you know how precious metal pricing works. The value of gold tends to fluctuate, which is why it is important to understand the market trends. You must to pay a premium to the melt values if you’re buying less than one ounce pieces.

Whenever you make an investment in gold in the form of jewelry, always ensure that you have sufficient documentation and can return it if required. You can’t be sure when jewelry is liked by the other person or if it even fits them. If the gold turns out to be fake, make sure you get your money back.

When looking to sell gold and you’re not sure of the value, look at getting it appraised. The small investment required will ensure you get what your jewelry is worth. Find a reputable appraiser, however, to visit. Remember if you sell, you will not receive the full price of the appraisal.

Spot Price

Be sure to consult the spot price on the day when you plan to purchase gold. The spot price is readily found on the Internet. You shouldn’t pay more than 8 percent over the spot price. Some dealers are going to try and charge you more, but don’t pay it.

When selling gold, only work with licensed buyers. They are likely to be honest. Lots of shops or individual operators are willing to purchase gold, so you should never feel you need to go with the first offer you get.

Don’t let others know you invest in physical gold. Anyone could be listening and you don’t know who can be trusted. Protect your investment in a secure home safe or in a safe deposit box. This is the best way to protect yourself and your gold investment.

Go through thrift shops and antique stores looking for gold. Just make sure you know what to look for. Seller don’t always know the value of the gold they own. If you do some research, you can benefit greatly.

Karat Weight

The first thing you should do when selling gold is group the pieces by karat weight. If you keep them together, an unscrupulous dealer may try to weigh all the pieces in one batch, then pay you the lowest karat price for all of them. You will earn more if you sell your gold separately by karat weight. Rather, approach the vendor with separated piles in order to maximize your profit.

If you just want to off-load your gold, you should pause. Gold tends to increase in price, so waiting may yield even greater profits. If you’re able to keep your gold, then you may be able to get more benefits from it later on.

Be sure to learn how you can test the grade of gold you are considering purchasing. The purity of golds is measured by karats. Twenty-four karat gold is the purest form of gold and is the most expensive. The stamp on the gold is not always accurate. Testing for gold’s purity will prevent you from paying too much for a poor piece.

Be sure you double check prices before you sell gold online. It’s entirely possible that you can secure a better deal by working with a local dealer face-to-face. Mailing it can be more convenient; however, it may not be worth the hundreds more that you can earn in person.

As this article said in the beginning, no matter what people think of gold, they rarely know much about it. However, having read this article you can no longer say that this applies to you. Use this knowledge to make the best possible choices in dealing with gold.

Filed Under: Gold · Tagged: , , , ,

Golden Advice On Dealing With The Ultimate Commodity

September 27, 2013 by ·

Do you want to make a gold investment? If so, know it’s a smart choice that balances out your portfolio’s risk. But you need to acquire a certain amount of technique first. Keep reading to learn why gold can be so useful as an investment strategy.

When you invest in gold, you can’t go wrong with bullion bars. They come in weights that vary. From .5 ounces to 400 ounces, the choice is yours. The 400 ounce bars are generally hard to find.

Prior to buying or selling any gold, be sure you truly understand how gold pricing works. The values of precious metals fluctuate daily, so be certain you know the spot price before any transaction. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.

Before going to sell your jewelry, investigate what the current market price of gold is. That will help you determine whether or not a dealer is actually offering you a good price for your pieces. Many gold dealers will pay market value; however, some dealers try to get your gold cheap.

Melt Value

When it comes time to sell your gold, figure out if you would like to sell it for its melt value or simply as a piece. Many private buyers and pawn shops are only willing to give the melt value. Selling your unique gold pieces to a collector can end up netting you more money.

Make sure you know the spot price of gold the day you plan to buy or sell. Many websites contain this information and it varies every day. When purchasing, don’t pay greater than 8% markup above the spot price. Anything more is unethical.

If you send off gold by mail, see how much it is to have it returned to you if the offer isn’t that great. A lot of buyers offer free shipping but will charge you a lot to send the item back. Know what this cost is before you mail your items.

Know what it is you actually have. A lot of the time, gold isn’t really worth what it looks like it’s worth. Usually, there are other metals mixed with gold for stability. This actually lowers the price of the gold. Gold plated items are subject to this too. Having an appraisal done to your gold can help you get the best idea of its actual worth.

Check Better Business Bureau ratings for gold dealers and jewelry stores before deciding where you want to sell your pieces. The BBB listing should include basic data about the company, along with details about any complaints made against them. Pay close attention to whether any of the complaints were not settled in a satisfactory way. If you see lots of complaints that have gone unresolved, think about moving on.

Know your dealer before purchasing gold. To ensure you’re dealing with someone legitimate, do some research with the BBB. Get in touch with the BBB to find information about which complaints, if any, have been filed. If you find several complaints, look elsewhere for a gold dealer.

A good way to get a good price on gold is to ask your relatives for their broken jewelry. Buy a jewelry scale and weigh the gold so you can give your loved ones a good deal and still make money for yourself.

With luck, you now feel comfortable adding gold to your portfolio. This strategy can help fill in the gaps between your savings and stocks. See why gold is such a great investment, and understand the differences in risk between the different choices available to you.

Filed Under: Precious Metal Trading · Tagged: , ,
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