The market for buying and selling gold has undergone an astounding surge in popularity in the aftermath of global financial difficulty. Maybe you want to add it to your investments. Gold is a good hedge against inflation and economic unrest. Read on to learn what you need to know.
The price of gold changes often, so you need to know the value of your gold before attempting to sell it. Different karat values will be valued and weighed separately when selling your gold. Don’t sell jewelry with a designer name that has a higher worth than straight melt value.
Have an understanding of gold prices. The prices of metals like platinum, gold and silver can fluctuate greatly in just one day. Before you do any buying or selling, check the market prices beforehand. You may have to pay higher prices, though, for pieces that have a small fractional measurement.
Before you buy gold from a dealer, get a guaranteed delivery date. If your seller doesn’t give you an immediate deliver, get it in writing confirming when you are to expect your piece. You should be provided with the estimated date of delivery. Do not complete your order without this important information.
If you feel that gold is too expensive, you may be tempted to purchase gold-plated as an alternative. You do get to buy gold jewelry without spending a ton at an actual jewelry store. Pawn shops can offer many good deals and there are also many online buying options.
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. In fact, a gold piece doesn’t have to be 100-percent gold to be worth something. It just needs to be plated or maybe only a part of it’s gold. You can still get a good return on the sale.
When you plan to buy gold, make sure you look at the spot price. You can find that on a lot of websites, and that can change every day. Only place your order if you can find a dealer willing to sell for an 8% markup or less over the spot price. Some sellers try charging more, but that’s overcharging, which is generally unethical.
If you plan to mail your jewelry, be sure that you find out how much the return postage will cost if the price offered you is too low. A lot of companies say they’ll let you ship for free, but to get things back they charge quite a bit. Know beforehand how much you would have to send in order to get your pieces back.
Only sell to buyers that have a state license to buy gold. They are likely to be honest. There is a lot of competition out there, so you can sell to someone else if you’re not happy with the first offer.
You never know where you will find valuable gold; places like thrift stores are often great places to discover good deals. If you you’re aware of what to look for, you can find some great bargains. Usually, you will see donated items of great value because people are unsure of their cost. A little bit of effort on your part to look around can yield big results.
Understand what you really have. Appearance alone is not an accurate gauge of the value of your gold. Gold is mixed with other metals for strength. The less gold, the less value. This also applies to gold plated items. If you are unsure of what you have, you may want to get it appraised prior to going to sell it.
Speak with the representative at the gold party to find out how they determine how many karats a piece of jewelry is. Many times you will see the item have a stamp on it. Other times, though, there are no outward signs, and therefore representatives rely on other techniques. A representative using acid tests is a sign of a less-experienced gold agent, as this kind of test is not one of the more surefire methods for karat determination.
You can invest in gold without actually having gold in your hands. It is possible to purchase stocks of gold mining companies, shares in a gold ETF or a mutual fund whose focus is gold. While it is nice to physically have gold, you run the risk of theft and the expense of storing it.
Before buying gold, know your dealer. To find a reputable dealer that sells gold, call the local BBB. You will be able to learn if there have been any complaints lodged against them. If so, think about using someone else.
In these tough economic times, gold looks more and more like an investment you can’t live without. Gold thrives in tough economic climates, which looks to be the case today. It’s best to understand how selling and buying gold works. Use the tips here when you are considering interactions with the gold market.