“Golden Advice”: Top Tips For Gold Selling, Buying, And More

TIP! When you sell gold, get multiple estimates of its value. There are a large number of venues for selling your gold, and they each have different target margins.

Learning how to invest in gold is a key strategy for any investor. Diversity is essential and will help with balancing the portfolio. What is a good place to start? All the options can be intimidating. Read on to find some gold investing basics.

TIP! Comparison shop when it comes to selecting a buyer. Look for online reviews and check the BBB website for complaints and resolutions.

A great way to invest in gold is through bullion bars. These bars come in varying weights. They can range from a half an ounce to bars that weigh four-hundred ounces. The larger sizes are considerably more challenging to find.

TIP! Knowing the current market value of gold is important prior to selling or buying it. This can help you discern whether you’re being offered a good price or not.

Before going to sell your jewelry, investigate what the current market price of gold is. This will help you set a fair price when you sell or buy. Although there are many honest gold dealers out there, there are also those who will try to offer you much less than it is worth.

TIP! If you are interested in trying gold as a commodity, but you are short on capital for investment, start out with buying scrap. This can be done over time, maybe some each day so that you can get some valuable gold in about a year.

When you buy some gold jewelry for another person, make sure they have a refund policy. You do not know if the gift receiver will like it or if the piece fits. It is always best to have the value appraised before you accept an offer.

TIP! If you are buying gold jewelry as a gift, make sure you have a money back guarantee. You can’t be sure when jewelry is liked by the other person or if it even fits them.

If you’re selling a gold item that has value beyond its weight in gold, you need to choose whether to sell the piece for its intrinsic value or its melt value. You may get more if you can wait to sell it to a buyer who values it as a beautiful piece of jewelry. Don’t give up; eventually, the right buyer will come your way.

TIP! GoldMoney can be helpful when purchasing gold. You will own some actual gold, but it won’t be in your possession.

When considering mailing your gold away for sale, be certain you know how much return mail will cost should you change your mind. The majority of companies pay for you to send the jewelry to them, but they charge high fees to return it to you. Know ahead of time if you must pay to get jewelry back.

TIP! Never sign a contract without thoroughly reading it first. If you’re looking at selling gold through a mail-in dealer, you will want to know all the finer details that entails the process.

A fast, cheap way to test for gold’s authenticity is to use magnets. Real gold won’t stick to a magnet. Sometimes, the only thing real about a piece of gold jewelry is the clasp. This method is good test for that.

TIP! You should always contact the BBB prior to selling your gold. You should easily find basic facts concerning the specific business, as well as complaints and reviews from previous clients.

Confer with the gold party rep to determine the method used for judging karats. In many cases, items are 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.

TIP! Read all the fine print when you are going through a gold dealer. Gold is a huge market that has some serious money involved in most transactions.

Before you sell a piece of jewelry for scrap, have the piece appraised first. Appraisal can be especially important with potentially-valuable pieces that may have more worth as jewelry than simply as bullion. The appraisal will give you the best idea as to the worth of your gold. Appraisers may know others that will buy your precious jewelry, too.

TIP! Before you buy gold, get to know the dealer. Contact the BBB to learn more.

Know how to test the grade of gold if you are investing in gold. The purity of gold is measured by the karat. The higher they are, the more expensive and pure it is per each ounce. Don’t rely on the karat stamp. Knowing how to test the purity of gold will ensure that you will not overpay for poor quality.

TIP! When selling gold, make sure your items are separated by karat weight. The value of the gold differs by the karat value of each and if all your gold is weighed together, you will not receive the best cash value.

Map out your goals prior to investing in gold. The gold market is volatile, even though it is a good investment when the economy is in trouble. If you keep yourself protected, you’ll end up making more money with your gold.

TIP! Gold prices have increased by over 400 percent in the last decade which is good if you own gold. Gold is a market that varies daily and it’s unpredictable when the price will go down.

Making good decisions about gold investment is an important part of the process. Now you have the knowledge necessary to make better decisions. Be ever mindful of what this article taught you, and get going.