Gold investments can be a safe harbor in choppy financial waters. You may be someone that has considered this but haven’t been sure of where to start. Now is the time to start expanding your gold-investing knowledge. Check out the suggestions below and you’ll discover some excellent gold investment tips that should prove useful for investors at any level.
Make sure that you get a quality estimate from a reputable source before selling your gold. Different places that buy gold will have different price ranges to offer. You’ll get a fairer price if you’ve gotten a few estimates.
Think about selling your gold online. Visiting a broker to make a gold purchase is no longer required. You can also choose to use an independent online site to that specializes in buying gold. The website will send special kits where you are to return your gold items. They will give you an offer, if everything goes properly.
When you purchase gold, it’s important to set a fairly stringent schedule for delivery of your metal. If the seller does not provide immediate delivery, you must get some kind of writing from them confirming when you can expect to get your pieces. This should be spelled out in no uncertain terms. Only complete the order if given this documentation.
Save your money to buy higher quality gold and avoid gold-filled and gold-plated pieces. Before settling for a gold plated piece, understand that there are great deals out there on solid gold jewelry. You can usually find more affordable gold jewelry online, or if you visit pawnshops.
Knowing the current market value of gold is important prior to selling or buying it. This way you will know if a dealer is offering you the proper amount for your items. A lot of dealers provide you with market value, but there are some who will just assume you want quick cash and will make a deal that is best for them.
Before you mail any jewelry to a particular company which purchases such items, be sure to do your homework and check out the company thoroughly before you do so. Know when they will send your payment out and get your package insured. You can also protect yourself in case of any disputes by snapping some photos of your jewelry before sending it off.
Take your old gold that you want to sell to a number of different gold-buying companies before settling on one. 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. The overhead of the store involved may determine how much or little they are able to offer.
Using a brokered service such as GoldMoney may be the gold investment technique that best suits your needs. It’s like opening a bank account which trades in gold. With this service the money in your account is converted into gold. Of course, you won’t actually have the gold. It will stay in the bank, but you can cash it in, portion it or even redeem it to receive one-kilogram bars of gold bullion.
Don’t discount the value of looking for gold in vintage or antique stores. A smart and educated gold shopper can make some great finds. Seller don’t always know the value of the gold they own. You can gain from their loss!
Talk to a gold representative to learn how they test gold for purity. In most cases, the item is simply stamped. However, there are some times when there aren’t visible signs, so the reps have ways to determine it. Acid testing is a very simple way to asses karat quality. If you see this method being employed, it’s possible that the tester is a relative newcomer.
Always understand what you are signing. If you’re using a mail-in gold program, read all the fine print prior to committing to the deal. You can then ascertain the amount of fees and commissions you will be charged.
A lot of times, the earring posts are made from solid gold even though the earring may not be. The bands of rings may be as well, even if the rest is an alloy. Because these pieces do not weigh a lot, try selling them as a “lot.” The more you have, the more they will weigh.
Prior to selling your gold to a buyer, jeweler or dealer, check them out on the BBB. You may find complaints that have been listed by the customers who feel slighted. Pay close attention to whether any of the complaints were not settled in a satisfactory way. If there’s a lot of complaints about one company, consider not using them.
You need to know how to test the grade of the gold you buy. Karats are used to measure gold purity. The purer the gold, the higher the karats and the more valuable it is by the ounce. You cannot just go by the karat stamp. If you can test the gold for purity, you aren’t going to pay too much for pieces of low quality.
If you wish to sell gold online, check the prices a couple times before you start. You might get more for your gold from a neighborhood dealer. It may be simpler to mail it in, but is that simplicity worth giving up a profit in the hundreds?
You should guard against buying too much gold as an investor. Gold doesn’t give you an income like bonds or stocks do. The price tends to fluctuate a lot in the gold market. Only when equities devalue, it will go up in value. At least 95 percent of your portfolio should be comprised of non-gold investments.
Anyone can invest in gold, whether you’re an expert or not you can place your money in this safe market. Now that you have learned the basics on gold buying, you can be more confident with your abilities in the market. Make use of this advice as you enter the market for gold.
