Gold and other precious metals continue to increase in value. This makes gold a great investment and can make it a great help if you want to build your wealth. It’s important, though, to prepare and educate yourself thoroughly before making a gold purchase or sale. Use these hand-picked tips to maximize your profits from dealing in gold.

When selling gold, sell to reputable buyers. Check reputations at the BBB and via online reviews. A legitimate buyer will pay you fairly for your gold while giving you great customer service. Protect your interests and your gold by doing this.

Prior to buying a piece of gold from a seller, make sure you schedule for timely delivery. When the seller doesn’t ship immediately, you must get their promise to ship in writing. Your expected receive date should be listed. Don’t buy without such a contract.

When looking to sell gold and you’re not sure of the value, look at getting it appraised. While you may have to pay a fee, the knowledge you gain will help you in the long run. Find a reputable appraiser, however, to visit. If you do want to sell the gold, understand you won’t be offered full value it was appraised for.

When selling jewelry, it is important to decide whether it will be sold as jewelry or as gold. Some buyers, including a lot of private sellers and pawn shops, only care about melt value. Try not to be discouraged. Sooner or later you will discover the purchaser you are seeking.

Whenever you begin the gold selling process, you need to be educated on the market price. You should see if you can figure out what people are selling pieces like yours for as well. This way you have an idea of what you can ask for yours. Ask a bit more so you can negotiate.

You can use a magnet to test precious metal inexpensively. Precious metals do not respond to magnets. Sometimes you’ll find a clasp to be something solid, but everything else is plated. Using this technique will help ensure your pieces are solid gold.

Be sure to have your jewelry appraised before you decide to sell it. This is particularly true for unique pieces that have exquisite workmanship and design. While the appraisal costs money, you might end up with more later on. A credible appraiser can probably connect you with someone who is likely to be highly interested in what you have to offer.

It is possible to sell your gold online and send it to a different state. Sellers often like the simplicity of this process. You obtain a prepaid envelope, put the jewelry in it, ship it, and get a check for it. Remember that these places usually do not pay as much as other places for gold. You can lose as much as a third of the value.

It’s easy to see why the market for gold has remained so strong. The opportunity of a great return remains, while the value continues to rise. You must know the ins and outs of buying gold, though, if you don’t want to be taken advantage of. Keep this article in mind, and apply the tips here in order to get the greatest deal on your purchase or sale of gold.